Analyze nestle csr initiative plan focuses on society issues
This is a CSR project, and choose to nestle as our company Note: Please give answer on mentioned words (must add intext citation) and required
Case Study Forensic Accounting & Fraud Investigation
The owner of Riverside Hardware of Ba has completed a bank reconciliation and cannot get the bank’s records to agree with the cash records of his business. He concludes that internal control has somehow failed and cash is being misappropriated. He asks you to check the records and confirm or otherwise his suspicions. He supplies the reconciliation statement at the end of last month, his cash records, and the most recent bank statement.
Last month’s reconciliation statement is presented below:
Bank Reconciliation Statement As at 31 May 2016 $
Balance per bank statement 30 April 2016 4,328.90 CR
Add: Outstanding deposit 1,224.50
5,553.40
Less: Unpresented cheques 223.70
Balance per Cash at Bank account at 31 May 2016 $5,329.70 DR
Required:
Problem 1. Recalculate and present the general ledger Cash at Bank account balance as it should be at 30 June 2016.
Problem 2. Prepare the bank reconciliation statement at 30 June 2016.
Problem 3. Advise the owner of Riverside Hardware of Ba, how much cash is being misappropriated, assuming that the records maintained by the bank are accurate.
Problem 4. Identify two ways in which reconciliation exercise can be used as a tool to detect and prevent Fraud.