You Have Just Accepted a Part-Time Job at One of the Campus

question 49

Essay

You have just accepted a part-time job at one of the campus eateries.During your training,the manager is called away to deal with a crisis and asks one of your co-workers to complete your cash register training.The co-worker proceeds to tell you that if the money in the register drawer doesn't equal the total on the cash register tape,you will be responsible for the difference.If there is a cash shortage,you must make up the shortage out of your own pocket,but if there is excess cash,you may keep the overage.Proudly,with the wink of an eye,she states,"I was short one time,right after I started working here.But I made sure,if you know what I mean,that I would never be short again."
A)Evaluate this control.Is it strong or weak? What kind of behaviour will it encourage?
B)Do you have a professional obligation to report your co-worker to management? Explain.

• A)Evaluate this control.Is it strong or weak? What kind of behaviour will it encourage?
• B)Do you have a professional obligation to report your co-worker to management? Explain.

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Definitions:

Cash Flow From Extraordinary Events

The cash generated or used by a company from events that are unusual, infrequent, and not likely to happen in the foreseeable future.

Cash Flow From Investment Activities

A section of a company's cash flow statement that shows the cash spent on and received from investment activities, reflecting how much is invested in the business.

Cash Flow From Operating Activities

The amount of cash generated by a company's regular business operations.

Asset Turnover

A financial ratio that measures the efficiency of a company's use of its assets to generate sales revenue.