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Study sets matching "term:bonding = insurance coverage of employees who handle financial statements, records and cash"

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Study sets matching "term:bonding = insurance coverage of employees who handle financial statements, records and cash"

19 terms
Ch 6: Employee Fraud and the Audit of Cash
employee fraud
fraud triangle
pressure/ motivation/ incentive
opportunity
the use of fraudulent means to take money or other property f…
-includes pressure, opportunity and rationalization... -the fram…
-financial or emotional force pushing towards fraud; part of…
-ability to execute plan without being caught; part of the fr…
employee fraud
the use of fraudulent means to take money or other property f…
fraud triangle
-includes pressure, opportunity and rationalization... -the fram…
34 terms
Financial Accounting Chapter 7: Fraud, Internal Control and Cash
Fraud
The Fraud Triangle
Sarbanes Oxley Act
Internal Control
A dishonest act by employee that results in personal benefit…
Opportunity - ... Workplace environment provides opportunity tha…
1. Companies must pay attention to Internal Control.... 2. Corp.…
- Safeguards assets from employee theft, robbery, and unautho…
Fraud
A dishonest act by employee that results in personal benefit…
The Fraud Triangle
Opportunity - ... Workplace environment provides opportunity tha…
19 terms
Accounting Chapter 7: Fraud, Internal Control, And Cash
Fraud
Three parts of the fraud triangle
Sarbanes-Oxley Act
Internal control
A dishonest act by an employee that results in personal benef…
Opportunity, Financial Pressure, and Rationalization
Rule passed by Congress that all publicly traded U.S. corpora…
All related methods and measures within an organization to se…
Fraud
A dishonest act by an employee that results in personal benef…
Three parts of the fraud triangle
Opportunity, Financial Pressure, and Rationalization
30 terms
Accounting 1111 Financial Accounting 7th ed Kimmel CH7
Bank Reconciliation
Bank statement
Bonding
Cash
The process of comparing the bank's account balance with the…
A statement received monthly from the bank that shows the dep…
Obtaining insurance protection against theft by employees
Resources that consist of coins, currency, checks, money orde…
Bank Reconciliation
The process of comparing the bank's account balance with the…
Bank statement
A statement received monthly from the bank that shows the dep…
27 terms
Accounting Chapter 4
Audit
bank collections
bank reconciliation
bank statement
a periodic examination of a company's financial statement and…
collection of money by a bank on behalf of a depositor
a document explaining the reasons for the difference between…
document showing the beginning and ending balance of a partic…
Audit
a periodic examination of a company's financial statement and…
bank collections
collection of money by a bank on behalf of a depositor
35 terms
Accounting Chapter 8
Internal controls... policies and procedu…
what is the sarabnes Oxley act?
purpose of this act
principles of internal controls
- protect assets... -ensure reliable accounting... -promote efficia…
requires managers and auditors of public companies to documen…
restore public confidence and trust in financial statements o…
-establish responsibilities... -maintain adequate records... -inure…
Internal controls... policies and procedu…
- protect assets... -ensure reliable accounting... -promote efficia…
what is the sarabnes Oxley act?
requires managers and auditors of public companies to documen…
50 terms
Obj. C8.02 Insurance
Actual Cash Value
Adhesion contract
Beneficiary
Binder
The value of an asset minus depreciation, also called book va…
A standard form contract in which parties must adhere to the…
Party (individual or business) who receives proceeds from a l…
An oral or written statement verifying insurance coverage bef…
Actual Cash Value
The value of an asset minus depreciation, also called book va…
Adhesion contract
A standard form contract in which parties must adhere to the…
15 terms
Modern Real Estate Practice Chapter 19 Property Management
budget comparison statement
cash flow report
corrective maintenance
management agreement
Compares actual results with the original budget, often givin…
A monthly statement that details the financial status of the…
correction of problems after the have occured.
A contract between the owner of income property and a managem…
budget comparison statement
Compares actual results with the original budget, often givin…
cash flow report
A monthly statement that details the financial status of the…
27 terms
Financial Accounting Ch. 4
audit
bank of collections
bank reconciliation
bank statement
periodic examination of a company's financial statements and…
collection of money by the bank on behalf of a depositor
document of explaining the reasons for the difference between…
document showing the beginning and ending balances of a parti…
audit
periodic examination of a company's financial statements and…
bank of collections
collection of money by the bank on behalf of a depositor
32 terms
Chapter 19 Pearson's Comprehensive Medical Assisting 3rd Edition
Accounting
Accounts payable (AP)
Accounts Receivable (AR)
American Bankers Association (ABA) num…
System of reporting the financial results of a business
Money that the medical office owes to vendors, suppliers, uti…
Money owed to the medical practice for services provided
Located in the upper right corner of a printed check
Accounting
System of reporting the financial results of a business
Accounts payable (AP)
Money that the medical office owes to vendors, suppliers, uti…
77 terms
Scott Bryant financial accounting Test 2
Audit
bank collections
bank reconciliation
bank statement
a periodic examination of a company's financial statements an…
collection of money by the bank on behalf of a depositor
a document explaining the reasons for the difference between…
document showing the beginning and ending balances of a parti…
Audit
a periodic examination of a company's financial statements an…
bank collections
collection of money by the bank on behalf of a depositor
30 terms
Fraud, Internal Control, and Cash (Chapter 7)
fraud
fraud triangle
The Sarbanes-Oxley Act (SOX)
Internal Control
a dishonest act by an employee that results in personal benef…
three main factors that contribute to fraudulent activity... 1.…
all publicly traded U.S. corporations are required to maintai…
consists of all the related methods and measures adopted with…
fraud
a dishonest act by an employee that results in personal benef…
fraud triangle
three main factors that contribute to fraudulent activity... 1.…
15 terms
Week 2 DA 106
Requistion
Accounting
Accounts Payable
Audit Trail
A formal request for supplies
A system designed to maintain the financial records of a buis…
Expenses and disbursements paid out from a buisness
Method of tracking the accuracy and completeness of bookkeepi…
Requistion
A formal request for supplies
Accounting
A system designed to maintain the financial records of a buis…
Chapter 4
Audit
Bank Collections
Bank Reconciliation
Bank Statement
A periodic examination of a company's financial statements an…
Collection of money by the bank on behalf of a depositor.
A document explaining the reasons for the difference between…
Document showing the beginning and ending balances of a parti…
Audit
A periodic examination of a company's financial statements an…
Bank Collections
Collection of money by the bank on behalf of a depositor.
8 terms
FInACC ch. 4
misappropriation of assets
fraudulent financial reporting
fraud triangle
internal control
fraud committed by employees who are in en entity to steal mo…
fraud committed by managers making false and misleading entries
motive, opportunity, rationalization
is a plan of organization and system of procedures implemente…
misappropriation of assets
fraud committed by employees who are in en entity to steal mo…
fraudulent financial reporting
fraud committed by managers making false and misleading entries
38 terms
Insurance & Unemployment
insurance
life insurance
beneficiary
auto insurance
A contract under which, for a smaller monthly payment, the in…
insurance paid to named beneficiaries when the insured person…
person entitled to benefits or proceeds of an insurance polic…
Insurance to protect a car owner in the event of an accident…
insurance
A contract under which, for a smaller monthly payment, the in…
life insurance
insurance paid to named beneficiaries when the insured person…
33 terms
Chapter 4: Internal Control & Cash
Audit
Bank Collections
Bank Reconcilliation
Bank Statement
A periodic examination of a company's financial statements an…
Collection of money by the bank on behalf of the depositor
A document explaining the reasons for the difference between…
Document showing the beginning and ending balances of a parti…
Audit
A periodic examination of a company's financial statements an…
Bank Collections
Collection of money by the bank on behalf of the depositor
33 terms
Chapter 4
Audit
Bank collections
Bank reconciliation
Bank statement
A periodic examination of a company's financial statements an…
Collection of money by the bank on behalf of a depositor
A document explaining the reasons for the difference between…
Document showing the beginning and ending balances of a parti…
Audit
A periodic examination of a company's financial statements an…
Bank collections
Collection of money by the bank on behalf of a depositor
25 terms
Accounting Chapter 7
Fraud
Opportunity*, Financial Pressure, and…
Sarbanes Oxley Act
Internal control
a dishonest act by an employee that results in personal benef…
3 parts to a fraud triangle
all publicly traded U.S. corporations are required to maintai…
consists of all the related measures and methods adopted with…
Fraud
a dishonest act by an employee that results in personal benef…
Opportunity*, Financial Pressure, and…
3 parts to a fraud triangle
28 terms
Acct 2301 Chapter Four Vocab
Audit
Bank collections
Bank reconciliation
Bank statement
a periodic examination of a company's financial statements an…
collection of money by the bank on behalf of a depositor
a document explaining the reasons for the difference between…
document showing the beginning and ending balanced of a parti…
Audit
a periodic examination of a company's financial statements an…
Bank collections
collection of money by the bank on behalf of a depositor
41 terms
Chapter 7: Fraud, Internal Control, and Cash
Fraud
Examples of fraud
fraud triangle
Sarbanes-Oxley Act (SOX)
a dishonest act by and employee that results in personal bene…
diverting bill payments into a private account, a shipping cl…
opportunity, financial pressure, and rationalization
bill that requires all public US corporations to maintain an…
Fraud
a dishonest act by and employee that results in personal bene…
Examples of fraud
diverting bill payments into a private account, a shipping cl…
34 terms
CH4 VOCAB
audit
external audits
bank collections
bank reconciliation
a periodic examination of a company's financial statements an…
usually performed by certified public accountants (CPA)
collection of money by the bank on behalf of a depositor
a document explaining the reasons for the difference between…
audit
a periodic examination of a company's financial statements an…
external audits
usually performed by certified public accountants (CPA)
27 terms
Exam 2: Chapter 4
Audit
bank collections
Bank reconciliation
bank statement
a periodic examination of a company's financial statements an…
collection of money by the bank on behalf of a depositor
a document explaining the reasons for the difference between…
document showing the beginning and ending balances of a parti…
Audit
a periodic examination of a company's financial statements an…
bank collections
collection of money by the bank on behalf of a depositor
45 terms
Accounting 4&5 Terms
Audit
Bank Collections
Bank Reconciliation
Bank Statement
a periodic explanation of a company's financial statements an…
collection of money by the bank on behalf of a depositor
A document explaining the reasons for the difference between…
Document showing the beginning and ending balances of a parti…
Audit
a periodic explanation of a company's financial statements an…
Bank Collections
collection of money by the bank on behalf of a depositor
Accounting Ch. 4
audit
bank collections
bank reconciliation
bank statement
a periodic examination of a company's financial statements an…
collection of money by the bank on behalf of a depositor
a document explaining the reasons for the difference between…
document showing the beginning and ending balances of a parti…
audit
a periodic examination of a company's financial statements an…
bank collections
collection of money by the bank on behalf of a depositor
33 terms
MDA Ch 63 Financial Management Dental Office Workbook
Accounting
Accounts payable
Audit trail
Bonding
A system designed to maintain the financial records of a busi…
Expenses and disbursements paid out from a business
Method of tracking the accuracy and completeness of bookkeepi…
Form of insurance that reimburses an employer for loss result…
Accounting
A system designed to maintain the financial records of a busi…
Accounts payable
Expenses and disbursements paid out from a business
15 terms
DA106 week 2
Requisition
Accounting
Accounts payable
Audit trail
A formal request for supplies
A system designed to maintain the financial records of a busi…
Expenses and disbursement paid out from a business
Method of tracking the accuracy and completeness of bookkeepi…
Requisition
A formal request for supplies
Accounting
A system designed to maintain the financial records of a busi…
15 terms
Flash cards
Requistion
Accounting
Accounts payable
Audit trail
A formal request for supplies
A system designed to maintain the financial record of a busin…
Expenses and disbursement paid out from a business
Method of tracking the accuracy and completeness of bookkeepi…
Requistion
A formal request for supplies
Accounting
A system designed to maintain the financial record of a busin…
15 terms
GA real estate Ch17
Budget comparison statement
Cash flow report
Community association management
Corrective maintenance
Compare his actual results with the original budget, often gi…
A monthly statement the details the financial status of the p…
Provides a team of property managers, accounting stuff, offic…
Correct problems after they have occurred
Budget comparison statement
Compare his actual results with the original budget, often gi…
Cash flow report
A monthly statement the details the financial status of the p…
29 terms
Fraud, Internal Control & Characteristics of Financial Statements
6 Components of Internal Control Systems
2 Components of Cash Controls
3 Limitations of Internal Control
Authorization of Transactions & Activi…
1) Authorization of Transactions & Activities... 2) Segregation…
1) Control Activities over Cash Receipts... 2) Control Activitie…
1) Companies can only provide reasonable assurance... 2) 2 or mo…
Most effective when only one person is authorized to perform…
6 Components of Internal Control Systems
1) Authorization of Transactions & Activities... 2) Segregation…
2 Components of Cash Controls
1) Control Activities over Cash Receipts... 2) Control Activitie…
33 terms
ACC 121 Chapter 4 Vocabulary
Audit
Bank collections
Bank reconciliation
Bank statement
A periodic examination of a company's financial statements an…
Collection of money by the bank on behalf of a depositor
A document explaining the reasons for the difference between…
Document showing the beginning and ending balances of a parti…
Audit
A periodic examination of a company's financial statements an…
Bank collections
Collection of money by the bank on behalf of a depositor
30 terms
ch 63 financial management in the dental office
Accounting
Accounts payable
Bonding
Carrier
a system designed to maintain the financial records of a busi…
expenses and disbursements paid out from a business
form of insurance that reimburses an employer for loss result…
the insurance company that pays the claims and collects premi…
Accounting
a system designed to maintain the financial records of a busi…
Accounts payable
expenses and disbursements paid out from a business
28 terms
Acctg ch 8
Bank reconciliation
Banks service charge
Bank statement
Bonding
Comparing banks balance of an account with company's balance
Fee charged by a bank for the use of its services
Monthly statement from the bank that shows the depositors ban…
Obtaining insurance protection against misappropriation if as…
Bank reconciliation
Comparing banks balance of an account with company's balance
Banks service charge
Fee charged by a bank for the use of its services
32 terms
Chapter 63 financial management in the dental office
Accounting
Accounts payable
Audit trail
Bonding
a system designed to maintain the financial records of a busi…
expenses and disbursements paid out from a business
method of tracking the accuracy and completeness of bookkeepi…
form of insurance that reimburses an employer for loss result…
Accounting
a system designed to maintain the financial records of a busi…
Accounts payable
expenses and disbursements paid out from a business
44 terms
Ch 7
True
Fraud
Opportunity Financial pressure Rationa…
Sarbanes Oxeley Act (SOX)
Adjusting entries are the key feature that distinguishes accr…
Dishonest act by an employee that results in personal benefit…
What are the 3 factors that contribute to fraudulent activity
Applies to publicly traded US corporations. Required to maint…
True
Adjusting entries are the key feature that distinguishes accr…
Fraud
Dishonest act by an employee that results in personal benefit…
15 terms
Modern Real Estate Practice (Unit 19)
Budget comparison statement
Cash flow report
Corrective maintenance
Management agreement
Compare his actual results with the original budget, often gi…
A monthly statement that details the financial status of the…
Correction of problems after they have occurred
A contract between me and her of income property and a manage…
Budget comparison statement
Compare his actual results with the original budget, often gi…
Cash flow report
A monthly statement that details the financial status of the…
20 terms
Financial Accounting Chapter 7
Bank Reconciliation
Bank Statement
Bonding
Cash
The process of comparing the bank's account balance, and expl…
A statement received monthly from the bank that shows the dep…
Obtaining insurance protection against theft by employees
Resources that consist of coins, currency, checks, money orde…
Bank Reconciliation
The process of comparing the bank's account balance, and expl…
Bank Statement
A statement received monthly from the bank that shows the dep…
26 terms
Financial Accounting Chapter 7
Fraud:
3 Factors that contribute to fraud:
The Sarbanes-Oxley Act:
Internal Control Methods and measures…
dishonest act by an employee that results in a personal benef…
opportunity, financial pressure, rationalization
supposed to provide stockholders with more assurance that the…
safeguard assets, increase accuracy of accounting records, in…
Fraud:
dishonest act by an employee that results in a personal benef…
3 Factors that contribute to fraud:
opportunity, financial pressure, rationalization
32 terms
Chapter 63 Financial Management in the Dental Office
Accounting
Accounts payable
Audit trail
Bonding
a system designed to maintain the financial records of a busi…
expenses and disbursements paid out from a business
method of tracking the accuracy and completeness of bookkeepi…
form of insurance that reimburses an employer for loss result…
Accounting
a system designed to maintain the financial records of a busi…
Accounts payable
expenses and disbursements paid out from a business
32 terms
ch 63 financial management in the dental office
Accounting
Accounts payable
Audit trail
Bonding
a system designed to maintain the financial records of a busi…
expenses and disbursements paid out from a business
method of tracking the accuracy and completeness of bookkeepi…
form of insurance that reimburses an employer for loss result…
Accounting
a system designed to maintain the financial records of a busi…
Accounts payable
expenses and disbursements paid out from a business
31 terms
Accounting Ch.4
Audit
Bank collections
Bank reconciliation
Bank statement
A periodic examination of a company's financial statements an…
Collection of money by the bank on behalf of a depositor.
A document explaining the reasons for the difference between…
Document showing the beginning and ending balances of a parti…
Audit
A periodic examination of a company's financial statements an…
Bank collections
Collection of money by the bank on behalf of a depositor.
22 terms
Chapter 7
Three factors that contribute to fraud…
Financial Pressure
• Opportunity
• Rationalization
Opportunity, Financial Pressure, Rationalization
- Employees sometimes commit fraud because of personal financ…
(Most important from fraud triangle.) For an employee to comm…
In order to justify their fraud, employees rationalize their…
Three factors that contribute to fraud…
Opportunity, Financial Pressure, Rationalization
Financial Pressure
- Employees sometimes commit fraud because of personal financ…
33 terms
Financial Accounting Chapter 4
Audit
Bank Collections
Bank Reconciliation
Bank Statement
A periodic examination of a company's financial statements an…
Collection of money by the bank on behalf of a depositor.
A document explaining the reasons for the difference between…
Document showing the beginning and ending balances of a parti…
Audit
A periodic examination of a company's financial statements an…
Bank Collections
Collection of money by the bank on behalf of a depositor.
15 terms
Unit 19: Property Management
budget comparison statement
cash flow report
corrective maintenance
management agreement
compares actual results with the original budget, often givin…
a monthly statement that details the financial status of the…
correction of problems after they have occurred
a contract between the owner of income property and a managem…
budget comparison statement
compares actual results with the original budget, often givin…
cash flow report
a monthly statement that details the financial status of the…
15 terms
Unit 19: Property Management
budget comparison statement
cash flow report
corrective maintenance
management agreement
compares actual results with the original budget, often givin…
a monthly statement that details the financial status of the…
correction of problems after they have occurred
a contract between the owner of income property and a managem…
budget comparison statement
compares actual results with the original budget, often givin…
cash flow report
a monthly statement that details the financial status of the…
30 terms
Business - Risk Management
business risk
risk management
economic risks
natural risks
the possibility of financial loss. Situations that can lead t…
the systematic process of managing an organization's risks to…
risks that result from changes in overall business conditions.
Risks caused by natural causes, such as floods, tornadoes, hu…
business risk
the possibility of financial loss. Situations that can lead t…
risk management
the systematic process of managing an organization's risks to…
48 terms
Financial Accounting ch.4
audit
bank collections
bank reconciliation
bank statement
a periodic examination of a company's financial statements…
collection of money by the bank on behalf bu dgetof a depos…
a document explaining the reasons for the difference betwee…
document showing the beginning and ending balances of a par…
audit
a periodic examination of a company's financial statements…
bank collections
collection of money by the bank on behalf bu dgetof a depos…
33 terms
Accounting Chapter 4
audit
bank collections
bank reconciliation
bank statement
a periodic examination of a company's financial statements an…
collection of money by the bank on behalf of a depositor
a document explaining the reasons for the difference between…
document showing the beginning and ending balances of a parti…
audit
a periodic examination of a company's financial statements an…
bank collections
collection of money by the bank on behalf of a depositor
30 terms
ME Business - Unit 5
business risk
risk management
economic risks
natural risks
the possibility of financial loss. Situations that can lead t…
the systematic process of managing an organization's risks to…
risks that result from changes in overall business conditions.
Risks caused by natural causes, such as floods, tornadoes, hu…
business risk
the possibility of financial loss. Situations that can lead t…
risk management
the systematic process of managing an organization's risks to…
30 terms
ME Business - Risk Management
business risk
risk management
economic risks
natural risks
the possibility of financial loss. Situations that can lead t…
the systematic process of managing an organization's risks to…
risks that result from changes in overall business conditions.
Risks caused by natural causes, such as floods, tornadoes, hu…
business risk
the possibility of financial loss. Situations that can lead t…
risk management
the systematic process of managing an organization's risks to…
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