Fraud prevention and the management accountant
Article Abstract:
A survey of 563 agribusiness cooperatives was conducted to examine fraud occurrences in small organizations and how they are detected and dealt with. Results indicated that 47% reported known or suspected fraud occurrences. The most pervasive fraud types were theft of inventory/supplies, theft of cash, check fraud, theft of equipment, and kickbacks. Respondents estimated losses incurred as a result of these most common frauds vary from under $100 to $350,000. For 30% of the cooperatives, known fraud losses accounted for 5% or higher of net earnings. Fraud occurred because of poor internal controls, weak ethics policy, industry type, and failure to segregate duties. The cooperatives responded by dismissing employees, conducted a formal investigation or contacted law enforcers. However, others remained quiet or simply allowed the employee to resign.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1997
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Doing business in China: a management accountant's guide
Article Abstract:
Management accountants should have a deep understanding of the legal and accounting regulations in the People's Republic of China because many US companies are setting up operations in this Asian country. The special problems and issues that may confront managerial accountants setting up operations in China are public ownership, language, legal differences, intellectual property, local governments, labor unions, currency, politics and travel. They should also educate themselves on accounting, auditing and tax rules in China, which have been rapidly evolving since the start of the 1990s. Foreign exchange and import practices are also worth considering. Finally, cultural differences should not be overlooked as these may have a significant impact on doing business in China.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1996
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