We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

Fraud Examination Essay Sample

  • Pages: 2
  • Word count: 403
  • Rewriting Possibility: 99% (excellent)
  • Category: money

Get Full Essay

Get access to this section to get all help you need with your essay and educational issues.

Get Access

Introduction of TOPIC

Review 2-3: Sales skimming schemes leave a victims organization’s books in balance because an employee will make a sale or a service to a customer, collect the payment at the point of sale, but will make no record of the transaction. The employee will then pocket the money received instead of turning it over to the employer.

Discussion 2-4:

In order to prevent this scheme from happening again in the future without having to hire another employee, the owner could have the rental checks delivered to a bank lock box where the checks will be secured rather then to the manager himself.

Review 3-6: The first method used to conceal larceny occurring at point of sale is thefts from other registers. It involves simply taking from someone else’s

register. The next method is death by a thousand cuts. Death by a thousand cuts is stealing currency

Sorry, but full essay samples are available only for registered users

Choose a Membership Plan
in very small amounts over an extended period of time. The third method is reversing transactions. This is done by reversing transactions such as false voids or refunds. This will cause the register tape to reconcile to the amount of cash on hand after the theft.

The fourth method used to conceal larceny at point of sale is altering cash counts or cash register tapes. This is done by altering the cash counts from the register to match the total receipts reflected on the register tape, or instead of altering cash counts, manually altering the register tapes. The last method that is used to conceal larceny at point of sale is to destroy the register tapes. By not being able to make the cash and the tape balance, the best thing to do is destroy the register tape to prevent others from discovering the imbalance.

Discussion 3-8

Newfund’s management and accounting controls contributed to the detection of Gurado’s fraud scheme by performing surprise audits once or twice a year. This scared Gurado and lead him to confess because he was unable to pay back his debts before they found out. By having upper management spread the word of what happened with Gurado, and expressing to others how you will get caught when committing fraud through audits, it helped to deter future frauds.

We can write a custom essay on

Fraud Examination Essay Sample ...
According to Your Specific Requirements.

Order an essay

You May Also Find These Documents Helpful

System of budget organization and an example...

The best method to monitor variance between actual and budgeted performance is “Budgetary control”. According to Brown & Howard, “Budgetary control” is “a system of cost control based on comparing actual performance with the budgeted and acting upon results to achieve maximum profitability”. Monitoring the organization’s performance by continuously comparing the actual results with the budgeted figures is of vital importance in any manager’s role. The main objective of this comparison is to identify discrepancies, which are known as “variances”. (Definitions: http://www.yourarticlelibrary.com/organization/budgetary-control/budgetary-control-meaning-objectives-and-essentials/53355/). A “budget variance” can be defined as “a periodic measure to quantify the difference between budgeted and actual figures”. A “favorable budget variance” is a “positive variance that happens when revenues come in higher than budgeted or expenses are higher than predicted”. An “unfavorable budget variance” is “a negative variance that happens when revenues are lower than budgeted or expenses are higher than predicted”. (Definitions http://www.investopedia.com/terms/b/budget-variance.asp & http://www.investopedia.com/terms/u/unfavorable-variance.asp)....

Manage Money

S-A-L-E, SALE! My favourite four letter word. Hello, my name is Laurie...and I am a shopaholic. I am a person who shops compulsively and can't resist bargains. I go shopping at least three times a week. It was mandatory and I needed it to live. It was like my own brand of heroine. I believe that I need to go to shopaholics anonymous. From shirts to shoes to the jeans, books, music Cds, electronics, handbags and not forgetting the many trips to the movie theatres and going out with friends. Hitting up the malls, fashion stores and boutiques in the city, dropping hundreds of dollars every time, the adrenaline started rushing when I see a handbag or a pair of heels that appeal to me. When I found a really cute shirt or a handbag, I had to get all the different colors in the same style. I could never...

Money Does Not Make A Good Person

What did one Visigoth say to the other Visigoth? Nothing, Visigoths don’t value language. I was once told that your values dictate that way you live, and so when you chose your values you are ultimately choosing what is important to you. Neil Postman, a highly regarded American author, media theorist, and cultural critic, said in his essay entitled My Graduation Speech "You must be an Athenian or a Visigoth” and then went on to say that to be an Athenian or a Visigoth is to act with a certain set of values (par. 11). If you align yourself with the Athenian values then you hold knowledge, complex language, community, and respect in high regard. On the other hand, to be a Visigoth is to value money, power, and to have no sense of community. The article titled Home of the Roma Kings, in the September 2012 issue of National...

Popular Essays


Emma Taylor


Hi there!
Would you like to get such a paper?
How about getting a customized one?