Question

You have recently started working at a landscaping company. As you are familiarizing yourself with their...

You have recently started working at a landscaping company. As you are familiarizing yourself with their Quickbooks accounting system, you notice that one of your friends is a contractor for this company. You remember him bragging about how he submits false invoices to the companies he contracts for and now you're worried that he is doing the same to your new company. What would you do in this situation?

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

As a professional, in a situation when there are chances of fraud, I will take the following steps:-

1) I will alarm my employer regarding the same and will ask him to take care of it while transacting with the person.

2) I will check all the invoices in detail when invoices are from the person.

3) I will ask the Internal Control team to additionally put some more controls on the person.

4) I will ask the Accounts payable team to check the invoices thoroughly while making payments to the person.

5) I will ask the credit team to properly check the credit of the person whom with they are doing business.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Your family has owned and operated a landscaping business for many years. They were recently approached...
Your family has owned and operated a landscaping business for many years. They were recently approached by a family friend who wants to invest in the company and help it grow to additional locations. The family friend has concerns that the company's accounting system is outdated and should be more computerized. You have offered to help with this transition and research into what type of computerized accounting system or workflow might make sense for the company to switch to. They...
Your family has owned and operated a landscaping business for many years. They were recently approached...
Your family has owned and operated a landscaping business for many years. They were recently approached by a family friend who wants to invest in the company and help it grow to additional locations. The family friend has concerns that the company's accounting system is outdated and should be more computerized. You have offered to help with this transition and research into what type of computerized accounting system or workflow might make sense for the company to switch to. They...
You are an I/O psychologist working as an independent consultant. You have been recently contacted by...
You are an I/O psychologist working as an independent consultant. You have been recently contacted by the CEO of a midsize manufacturing firm located in a large metropolitan area. You meet with the CEO later that day to find out he is very concerned about his company becoming unionized. When he pulled into the executive parking lot today, he noticed several employees congregating in the employee lot before work. He sent his assistant out into the employee lot to find...
You are an employee at one of the local hospitals. One day, while working in the...
You are an employee at one of the local hospitals. One day, while working in the ER, you notice that your neighbor, John, has been brought in by ambulance. You hear the doctor report that he is being rushed to surgery due to a heart attack. John’s wife also works for the hospital in another department. Given that you and his wife are friends, and both work in the hospital, you decide to call his wife right away and tell...
You are the project manager for a new multimillion-dollar building renovation for your organization. The company...
You are the project manager for a new multimillion-dollar building renovation for your organization. The company needs to maximize the space that it has, and the best approach is to do a staggered build-out in order to better maximize the space in the existing building. You feel that the best approach was to negotiate with multiple contractors on a fixed-price contract. Different contractors discussed other contracts with you, particularly ones to address the current market fluctuations in the raw materials...
You have a co-worker at work that you are also friends with. One day, a borrower...
You have a co-worker at work that you are also friends with. One day, a borrower comes in and meets with him. You overhear the borrower tell your co-worker that he has a loan with his mom and dad for about $10,000 that he pays $300 a month. Your co-worker proceeds as if he didn’t hear your borrower at all. Once he has taken the application, he tells the borrower that he qualifies for maximum financing for a $250,000 home....
#1 Mo has been assigned to the audit of Aurora Landscaping Co. Ltd, a new client....
#1 Mo has been assigned to the audit of Aurora Landscaping Co. Ltd, a new client. His job is to meet each one of the department managers in payroll, accounts receivable and payable. Mo must determine and document how each one of these systems of internal controls work. He has been given an audit program for each one of these cycles. When he arrived at Aurora this morning, the first thing he did was review the planning section of the...
(Management) A brief background about the situation. You manage a team of 5 employees. Recently, your...
(Management) A brief background about the situation. You manage a team of 5 employees. Recently, your top performer has been anything but your top performer. The employee has been calling off and been making comments in meetings that are inappropriate. The rest of the team seems to be doing the same things and you are concerned you won't be able to meet your goals if this keeps up. You have pulled the employee in and he/she informed you they just...
For the past year, you have been working as a secretary/ processor for a local construction...
For the past year, you have been working as a secretary/ processor for a local construction company, XYZ Homes, which specializes in the building of low-cost, limited-option homes. You left a comfortable, good- paying job to work for XYZ because it was family- owned and operated by longtime friends. Soon after you began working for XYZ, you noticed questionable behavior on the part of Mr. and Mrs. XYZ’s two sons, who are company salesmen. In fact, you are positive that...
You are an industrial chemist working for a company that makes methanol (CH3OH) according to the...
You are an industrial chemist working for a company that makes methanol (CH3OH) according to the equilibrium reaction shown below. You love your job, except that your assistant does not have the best notebook keeping skills. One day you set up the reaction with the equilibrium concentrations shown below. CO (g) + 2 H2 (g) <--> CH3OH (g) 0.24 M       1.1 M                0.15 M   at 327oC Later on your assistant mentions that he added some more CO, but he doesn't...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT