Substantive Procedures for Cash Outflow IrregularitiesInternal Accountants Report to ManagementForensic Accounting ACC 556 (2 Pages 478 Words)

Cash Cycle

Flow of cash in a company start from making payments for products and ends with colleting cash from goods sold. More cash available means the less cash the company would need to borrow. Within the cash outflow of the cash cycle there are two major irregularities that can affect this flow of cash and that is skimming and cash larceny. Skimming is considered a white collar crime and occurs when a person take cash off the top of a company daily receipts or any other cash transaction within the company. This type of fraud can happen at any company and can involve employees or management. An example of skimming...