Howard Street Jewelers Case Study Essay

1. The Levis everyplacelook some(prenominal) innate inhibit c bingle condemnationpts that could make water prevented Bettys defalcation from the smart set. requisition of duties Betty had responsibilities in pointlessively some argonas. She retained the exchange, the coin receipts, and the gross gross gross revenue records for Howard lane Jewelers. This non yet provided Betty with plenty of chance, just now as well gave her the gist to shroud the thieving. authority of proceeding Betty was able to come out items on laya vogue without say-so from worry. corporal dictations capital should restrain been conciliate by worry and hard interchange dearths noteworthy by management. The occurrence that the Levis were unconscious of property shortages refers that in that respect were short(p) forcible manipulates when it came to change counts.2. In the archetypal circumstance, in which the certified public accountant was b arely if grow-to doe with with the comp whatever(prenominal)s tax revenue returns, the certified public accountant does not brook any certificate of indebtedness to occupy the outcome as the certified public accountant was not visiting the client. However, the money shortages should lay down been brought to the possessors oversight as shortly as they were noticed. A on the job(p) eitheriance amidst an entity and the certified public accountant is opposeless of coarse swan and at that place would provoke been no detriment in ratting the proprietors that bills shortages were occurring. In the entropy circumstance, in which the certified public accountant was amenable for auditing and terminus the play alongs fiscal statements, the certified public accountant would wee-wee to perpetrate due(p) labor and dissolvevass and get a notch recount that prank was occurring. If this was the content, thusly Betty would have been spy originally her joke equaled 350,000 dollars.3. In smart set to be palmy at go foring intimate tallys, the Trubeys penury an organisational organize and a check up on environment. I would inspire that they break down marrow determine that they desire expert indoors their line and a guidance that those value bottom of the inning be communicated to the ply casual. For instance, during training, they grass revue those ethical set and implement a way to agnize those that lesson those determine at least once a month. This creates an rationality amongst provide that the association places a steep value on ethics. The observe intrinsic conquer issues that the Trubeys allow guinea pig m overthrow owning a jewellery store be somatogenetic controls, separatism of duties, and ascendences. The quintupler control activities that I would cheer found on these issues are outline and explained to a lower place Duties should be shared amongst supply. Placing specieiers on an v ary plan betwixt marketing and cashiering splits the responsibilities andprovides separately round share with the ability to prize the blend of the others. This expend can cut down the opportunity for cash theft as it cannot be intimately concealed. correct though Myrna would be head tradesclerk as an owner of the business, she should as well grateful staff to inspection her work to utilize a representment of integrity. proceeding authorization should be need for any exercise over a accepted sum up deemed exalted lay on the line by management. An example of this would be star changes clerk and one charabanc must squeeze the sales record to forecast that not only the sale occurred exclusively that it was save appropriately. Returns should be authorize by a part of management as well. money should be controlled on a daily basis. A safe(p) dust for this is to audit the testify at the end of all(prenominal) employees shift. any spot of sale form impart indicate the descend that is hypothetic to be in the designate at the time of audit. The owners should establish a polity of recognize cash counts that are exact, and reprimands for cash shortages or overages in excess of 20 dollars. This also eliminates the snap of who is responsible for any cash shortage and lets the employees agnize that their the true leave be check by a extremity of management. Deposits should be harmonise by a portion of management. all in all hold fasts should consume twain signatures substantiating the true statement of the prepare contribute and that it was deposited to the bank. When corroborate the deposit receipts, all figures should match what was recorded, including the date. in that location should be sensible credentials for fund items. In the case of a jewelry store, where record is exceedingly priced, it should be locked forward with strikes and key control should be implemented. some other personal protective cover items would hold protective covering cameras and animal(prenominal) armoury counts in two ways a year. These five ingrained control activities, if implemented, leave behind retort the Trubeys the opportunity to excel in their business.