Acounting
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Instructions Objectives Study Tips Overview Accounting Applications Class Interaction and Discussion Optional Small Group Extension Activity Optional Internet Exploration and Research Activity Summary Questions
Instructions:
1. 2. 3. 4. Print and read the following case study. On your own, complete the Accounting Application questions. As a class, complete the Class Interaction and Discussion questions. Optional: Complete the Small Group Extension Activity and Internet Exploration and Research Activity. 5. Complete the Summary Questions.
Objectives:
After completing the following case study, you will be able to: Describe several security procedures used by businesses to discourage employee theft Compare the effect of employee theft on net income Discuss different examples of employee theft Identify four internal cash controls described in the text
Study Tips:
Complete this case study after Chapter 11 or Chapter 29, Glencoe Accounting, First-Year Course. Approximate time to complete: 45 minutes.
Copyright © Glencoe/McGraw-Hill. All rights reserved.
1
Overview:
The following information was obtained from “The Heavy Burden of Light Fingers,” BusinessWeek (December 16, 1996), by Barbara Hetzer. One day while his bookkeeper was at lunch, Ron Knight, owner of a construction business in Gilbert, Arizona, happened to open the mail. Usually only the bookkeeper reviewed bank statements, but on this afternoon, Knight discovered a cancelled check made out to the bookkeeper for $1,000. After some exploration, Knight learned that during the past six months, the bookkeeper had taken a total of $20,000. Most experts believe that while all businesses have some problems with employee theft, small businesses are more affected by it. A fraud examiners’ study found that small businesses suffered a median loss of $120,000 per incident, but the loss for companies with 10,000 or more employees was reported to be $126,000. As you can imagine,
Instructions Objectives Study Tips Overview Accounting Applications Class Interaction and Discussion Optional Small Group Extension Activity Optional Internet Exploration and Research Activity Summary Questions
Instructions:
1. 2. 3. 4. Print and read the following case study. On your own, complete the Accounting Application questions. As a class, complete the Class Interaction and Discussion questions. Optional: Complete the Small Group Extension Activity and Internet Exploration and Research Activity. 5. Complete the Summary Questions.
Objectives:
After completing the following case study, you will be able to: Describe several security procedures used by businesses to discourage employee theft Compare the effect of employee theft on net income Discuss different examples of employee theft Identify four internal cash controls described in the text
Study Tips:
Complete this case study after Chapter 11 or Chapter 29, Glencoe Accounting, First-Year Course. Approximate time to complete: 45 minutes.
Copyright © Glencoe/McGraw-Hill. All rights reserved.
1
Overview:
The following information was obtained from “The Heavy Burden of Light Fingers,” BusinessWeek (December 16, 1996), by Barbara Hetzer. One day while his bookkeeper was at lunch, Ron Knight, owner of a construction business in Gilbert, Arizona, happened to open the mail. Usually only the bookkeeper reviewed bank statements, but on this afternoon, Knight discovered a cancelled check made out to the bookkeeper for $1,000. After some exploration, Knight learned that during the past six months, the bookkeeper had taken a total of $20,000. Most experts believe that while all businesses have some problems with employee theft, small businesses are more affected by it. A fraud examiners’ study found that small businesses suffered a median loss of $120,000 per incident, but the loss for companies with 10,000 or more employees was reported to be $126,000. As you can imagine,