Purchase Solution

This posting addresses each element of a fraud.

Not what you're looking for?

Ask Custom Question

Please help with the following problem. Provide at least 200 words in the solution.

Select a type of fraud, and identify (1) the perpetrator of the fraud, (2) the victim of the fraud, and (3) provide an explanation of what the fraud entails. Also, identify one internal control that could be implemented to reduce or prevent this from occurring.

Purchase this Solution
Solution Summary

The following problem helps with an accounting problem. This solution discusses a fraud and identifies the perpetrator, the victim, and an explanation of what the fraud entails. Internal controls that could have prevented the fraud are also discussed. The explanation is given in 240 words.

Solution Preview

Type of fraud - Inventory theft

(1) Perpetrator: Employee at the receiving dock of a manufacturing company.

(2) Victim: The direct victim of the fraud is the company where the employee is stealing merchandise. The employee is more than likely stealing the incoming inventory, and covering his or her theft by falsifying internal documents. The indirect ...

Purchase this Solution
Free BrainMass Quizzes
Change and Resistance within Organizations

This quiz intended to help students understand change and resistance in organizations

Balance Sheet

The Fundamental Classified Balance Sheet. What to know to make it easy.

Organizational Behavior (OB)

The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.

Understanding the Accounting Equation

These 10 questions help a new student of accounting to understand the basic premise of accounting and how it is applied to the business world.

Basics of corporate finance

These questions will test you on your knowledge of finance.

View More Free Quizzes
Related BrainMass Solutions

  • This posting addresses fraud detection websites.

    392779 This posting addresses fraud detection websites. How many different Web sites can you find dealing with fraud auditing and detection? Try a few different search strings in a search in a search engine and see what sites are available.

  • This addresses the control environment & internal controls.

    In a strong control environment, the main positive element is that it reduces the chances of fraud and all of the risks and losses associated with fraud from taking place.

  • Elements of the Fraud Triangle

    64782 List the elements of the Fraud Triangle and use the following case to provide examples of each element. List the elements of the Fraud Triangle, and use this case to provide examples of each element.

  • This posting addresses the expense of battling fraud.

    397587 This posting addresses the expense of battling fraud. Is there a point when battling fraud becomes too expensive? It certainly does, but I think that it's really organization-specific.

  • Error versus Fraud in Accounting

    Hi, Below are the answers to your questions on error versus fraud in Accounting. I hope this helps you in your studies. Please rate my answer a 5.

  • Common errors in accounting systems

    This is a very typical setup for fraud: the accounts receivable person credits a vendor's account for a cut of the savings. The other type of error could be a timing difference.

  • Types of businesses prone to Cash Larceny and Billing Schemes

    The third factor for large fraud losses in small businesses involves the human element. In a situation where employees know each other well, it is natural for them to trust one another.

  • An accounting estimate is an approximation of a financial st

    411778 An accounting estimate is an approximation of a financial An accounting estimate is an approximation of a financial statement element, item or account.

  • Auditor's responsibility

    auditplan www.carajkumarradukia.com/presentation/tbauditplan.ppt This posting gives you an in-depth insight into an Auditor's responsibility.

  • Bookkeeper sign checks/ make deposits/ make ledger entries

    The response addresses the query posted in 385 words with APA references //In the following paragraphs, there will be a discussion of committing fraud of money by concealing the business transaction entries in the books of accounts.

View More Related Solutions