Misappropriation of assets

[Expensivejoy01]

On an individual employee level, the most common ethical issue in accounting is the misappropriation of assets. Misappropriation of assets is the use of company assets for any other purpose than company interests. Otherwise known as stealing or embezzlement, misappropriation of assets can occur at nearly any level if the company and to nearby any degree. For example, a senior level executive may charge a family dinner to the company as a bussiness expense. At the same time , a line-level production employee may take home office supplies for personal use. In both cases, misappropriation of assets has occurred.

 

[Augusta]

This is why there should be high security in the workplace to be sure that no body is stealing the assets of the company.

 

[neku]

In the internet sector, small online business owners are finding that well paid government employees who do not pay expenses are falsely claiming to own their domains, bank account, and getting monthly government salaries while the online business owner is criminally defamed to cover up the massive financial fraud.

 

[Suba]

Misappropriation of assets has occurred in many companies, such as motor vehicles being used for personal purposes, but to charge the executive's family dinner costs to business expenses. You need to know that there are no business expense records in accounting and it will definitely be rejected by the internal auditor and the office tax when calculating income tax. Meanwhile, withdrawals of money or goods by the owner of the company (private) are also not recorded as an expense.