Do some research and find a computerized accounting system that you think would be appropriate for your needs based on your future career. For example, if you plan to open a small accounting firm you may want to look at QuickBooks. Discuss the positive and negative aspects of the system you found versus a manual system of accounting.
This illustration is known as the “Fraud Tree” and depicts various ways an employee can misappropriate assets. Notice there are three main ways employees can embezzle cash: skimming, larceny, and fraudulent disbursements. Pick one of the boxes under “Cash” and explain how an employee would embezzle money under this scheme. What internal controls can management put into place to prevent this type of embezzlement?