Assignment 2-3 Cash Larceny Scheme Case

Assignment 2-3 Cash Larceny Scheme Case - 1Assignment 2-3...

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1Assignment 2-3 Cash Larceny Scheme Case Assignment 2-3 ACCT341-E1WW Professor Filler January 21, 2012
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2Assignment 2-3 Cash Larceny Cash larceny is the theft of cash that has already been accounted for in the books, where as skimming is the removal of cash from an organization before the cash has been recorded. In the Laura Grove’s case, her crime was considered cash larceny rather than a skimming scheme, because she took money that was already accounted for. According to Wells, A day after the money went missing, Rocky Mountain Bank Audit Investigator Stacy Boone received a call from Laura’s bank manager, informing her that two customers had not gotten credit for their deposits they’d made the night before. Each deposit was for $8,000. (Wells, 2011). It only took a day to figure out that not only $16,000 was missing, but it was two separate deposits. If this was classified as a skimming case, they would not have figured out the money was missing so quickly and they would not have discovered that the missing money came from two separate deposits. As stated in the opening statement, a skimming scheme is not recorded. Laura’s Alternate Nabbing? Had Laura’s loving husband, not discovered the money and called the bank, Laura would have been caught anyways. She really did not think this whole scheme through. First, she left the vault door open the night before the scheme took place. Another teller who worked with Laura, discovered the door was open and made sure it was locked. But for Laura, she just got herself a witness to the crime she was about to commit. On Monday morning, “arriving at 7:15 a.m., Laura was the first person in the bank.” (Wells, 2011). Her second mistake was punching in her security code.
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This note was uploaded on 02/29/2012 for the course ACCOUNTING 341 taught by Professor Kamradt during the Spring '10 term at Franklin.

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Assignment 2-3 Cash Larceny Scheme Case - 1Assignment 2-3...

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