363 test4

363 test4 - CH.16 1inevery? ??/3 approx?

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CH. 16 1 in every ? employees is apprehended for theft from their employer each year—27  Dishonest employees steal almost ? times the amount stolen by shoplifters—8  ? of employees steal from their companies at least once a year—1/3  approx. ? percent of all merchandise losses are the result of inside stealing—70% the foodservice industry loses approx. ? a year to theft and cash mishandling—20 billion approx. ?-? percent of foodservice gross sales are lost to internal theft—5 to 8% ? percent of inventory missing in restaurants is from theft—75% the majority of foodservice employees caught stealing have worked or an operation for avg of ? to ?  years—5 to 7 years factors for security—1) hosp ops find it increasingly difficult to pass on security losses to the  consumer in the form of higher menu and room prices, 2) in general the public has become more  security conscious, 3) the cost of insurance coverage has skyrocketed, and 4) a good deal of  unfavorable publicity has focused on the hosp purchasing function, centers on the willingness of  purch agents to accept gifts and other econ favors kickbacks—an operation could pay for a superior product but receive inferior merch while the buyer  and accomplices pocket the difference between the as purchd (AP) prices pad an invoice—two or more conspirators add on a phony charge form of a kickback—conspirators send invoice that has already been paid to the bookkeeper who  pays it again, thieves pocket the payment form of a kickback—supposedly defective incoming merch is returned to thieves who hope bkeeper  will forget/ignore this transaction form of a kickback—short orders or half orders are delivered and promised other half never comes,  thieves depend on bookkeeper to overlook the shortage form of a kickback—buyer agrees to pay a slightly higher AP price and, unknown to owner/mngr,  receives an under the table payment from the supplier invoice scams—someone diverts a bill payment to a fictitious company/account or someone might  present fictitious invoice to bookkeeper supplier receiver errors—1) losing credit or container deposits or returned merch, 2)receiving 
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This note was uploaded on 04/27/2011 for the course FCS 363 taught by Professor R during the Spring '11 term at Cornell.

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363 test4 - CH.16 1inevery? ??/3 approx?

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