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    Methods for Detecting Lapping

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    Describe lapping within the context of accounts receivable. What is the method for detecting lapping?

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    Describe lapping within the context of accounts receivable:

    Withing the context of accounts receivable, LAPPING occurs when funds are taken, and the loss is "hidden" by substituting other funds to overLAP the missing fund. For example, if an employee worked for you and stole $5 from your ...

    Solution Summary

    This is a discussion on lapping within accounts receivable.