Many companies overlook the issue of having a problem gambler in the office. This often seems like something distant. Besides, employees’ personal life typically shouldn’t affect their work lives. Yet, with gambling addiction, the situation is a bit different. When someone is a problem gambler, this serious issue will affect various aspects of their life, including their professional performance. What are three 3 Behavioral signs that someone may have a gambling problem? Continue reading What are Three 3 Behavioral Signs that Your Employee Has a Gambling Problem?
We all hope our co-workers and employees are honest, and they probably are. Yet, improper cash control, poor cash cycle procedures, and weak cash security can tempt people who are basically honest. Think about parking at the local mall. You always roll up your windows and lock your car to protect your possessions, especially if you made some purchases at an earlier stop. Most of the people who walk by your car at the mall are honest, yet you don’t want to tempt them by making it easy to take something that doesn’t belong to them. What are some internal controls for cash? Continue reading What Are Internal Controls for Cash Security?
There are six areas of risk frequently capitalized upon by embezzlers. While these areas of risk are not the only ones containing “embezzlement windows of opportunity”, these are the areas that offer the most significant sources of exposure to your company and what lead to various embezzlement schemes. What are common embezzlement schemes? Continue reading What Are Common Embezzlement Schemes?
The proper identification and acceptance of all sales are an important element of accounting internal control for a company’s income statement. It represents the primary source of most companies operational cash flow and therefore needs to be protected, managed and monitored using financial internal controls. The following Accounting Revenue Cycle Procedures should be utilized to account for and recognize all sales income of the company. What is the revenue cycle in accounting? Continue reading What is the Revenue Cycle in Accounting?