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

essay
The whole doc is available only for registered users OPEN DOC
  • Pages:
  • Word count: 376
  • Category: money

Get Full Essay

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

Get Access

Fraud Examination Essay Sample

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 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

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....

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...

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...

How Do Charity Leaflets Persuade the Reader...

In this essay, I shall be focusing on two charity leaflets and comparing how they try to persuade the reader to donate money. The leaflets which I will be looking at are Oxfam's 'Ethiopia Appeal' leaflet, and Help the aged's campaign to 'Stop an older person being alone at Christmas'. The Oxfam leaflet is aimed at the NUT (National Union of Teachers), and the Help...

Decentralisation Has Been the Dominant Force in...

To what extent do you agree with the statement: ‘Decentralisation has been the dominant force in the UK in the past 50 years’? (40 marks) Decentralisation is the movement of people, money, and businesses out of central areas. This essay will show how the factors of suburbanisation, counter-urbanisation and out of town shopping centres have contributed to decentralisation. However, it will also illustrate how processes...

Get Access To The Full Essay
icon
300+
Materials Daily
icon
100,000+ Subjects
2000+ Topics
icon
Free Plagiarism
Checker
icon
All Materials
are Cataloged Well

Sorry, but copying text is forbidden on this website. If you need this or any other sample, we can send it to you via email.

By clicking "SEND", you agree to our terms of service and privacy policy. We'll occasionally send you account related and promo emails.
Sorry, but only registered users have full access

How about getting this access
immediately?

Become a member

Your Answer Is Very Helpful For Us
Thank You A Lot!

logo

Emma Taylor

online

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

Couldn't Find What You Looking For?

Get access to our huge knowledge base which is continuously updated

Next Update Will Be About:
14 : 59 : 59
Become a Member