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By familiarizing themselves with these common fraud schemes, companies can better prepare to identify anomalies early and take decisive action to mitigate risks ( Fraud Magazine ). Each of these methods presents unique challenges, and understanding their mechanisms is crucial for designing effective countermeasures.
Examples of these transactions are the delivery of goods to a company’s warehouse for resale, or the provision of office supplies, or the liability incurred when a magazine subscription is initiated, or when a business enters into a rent agreement, or when the local utility provides electricity to a business.
Andrea: (10:16) Well, I agree, and I think there's the additional ethical challenges are that anytime that you are springing away from reconciling to something, you know, is absolutely true, then you are moving out on a, on a journey of, potentially being influenced to represent information that is not as true as maybe it should be.
Actually, I also read the IMA magazine. Some not at all. So that way you don't have to read accounting today. Journal of accountancy, accounting, web, all those sites to try and stay up on what's going on. Was it Strategic Finance? Is that, is that it? So, you know, we talk about those articles, we analyze them, we discuss them.
David Leary: [00:33:00] Not even then because it wasn't fully reconciled, because I was like, oh, she's in New York. David Leary: [00:32:55] At least four or five texts in- Blake Oliver: [00:32:58] When they asked you to go to the store and buy gift cards?
Again, what this feature does is something that has been happening in QuickBooks for 20 years, which is that you can import your bank data and then create transactions while you reconcile. It was an article that appeared in Financial Management Magazine about how to automate bank reconciliations with Excel Power Query. Nobody wants it.
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