A question of theft

Evidently, there is a problem in the management of shifts and the auditing of the money hence the front office manager named Chad refuses to take action of the situation. When conflict arose, the cash registrar’s earnings were found out to be short; Chad tried to look for the culprit. Critically analyzing the situation, how did Chad found out that there has been an amount missing?
He was so certain of the amount missing despite of his non-presence in the area and also the lack of eagerness to monitor the finances. Internal Control is the process to achieve the objectives with effectiveness and efficiency, reliable financial statements and strict compliance to the law. In this case, Chad can be classified as an ineffective leader for efficient workers.
His managerial skills would have taken care of the problem hence he neglected the idea because he was confident about his employees. Another problem is that there is no consistent financial report for every employee who dwells in the counter. For example, for every end of a shift the money should be counted and audited so that there would no discrepancies for the next employee to work and also it would be much easier to determine if there is a shortage in the finances.

For this instance, the manager must have the control over his employees and authoritatively impose the rules such that the employees would develop loyalty and honesty among the system.
I think the managerial position must be filled by a person that is experienced and also has good interpersonal skills so that the firm would not suffer from these small lapses.
Also I would like to point out that there should be a financial report on every change in shift so that the manager can monitor the movement of the money in the cash registrar. What is needed is the end amount after each shift. Lastly, the effectiveness and efficiency of a working group must come from both the leader and its subordinates, with this, there are limitless endeavors and opportunities for a good working system.
References
University Business Practices (2007). Understanding Internal Control. [on-line] Retrieved from: http://www.ucop.edu/ctlacct/under-ic.pdf on: March 5, 2008
Comptroller’s Handbook (2001). Internal Control. [on-line] Retrieved from: http://www.occ.treas.gov/handbook/intcntrl2.pdf on March 5, 2008

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more