They say pursuing fitness goals contributes to work performance. Accountants are better known for their skill with numbers than their physical abilities, but many make exercise part of their routines. And some have achieved remarkable feats of athleticism. These five accountants have competed in extreme sports events, become professional athletes, or simply challenged themselves physically. They share their stories, as well as their best tips for staying in good physical and mental shape. To read the full article in the Journal of Accountancy, click: Not Desk Jockeys: These Accountants are Athletes.
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New duties will require plenty of understanding and good communication. Many experts expect accountants’ work and duties to change fundamentally in the coming years. Technology will allow for a more complete audit that uses all available data rather than samples. And the scrutinizing of anomalies will provide opportunities for auditors to provide more useful information to clients. To read the full article in the Journal of Accountancy, click: Four Skills Accountants Need to Succeed in a Tech-enabled Future.
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Day in, and day out, how do you stay inspired? We asked nine accountants what inspires them and what advice they would give to help others in the profession find that inspiration. To read the full article in the Journal of Accountancy, click: Accountants Reveal What Inspires Them Every Day.
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Fraudulent Payroll and Expense Schemes (Part III of III) This article represents the third installment of a three-part series discussing the potential for embezzlement within an organization by its Accountant Bookkeeper Office Manager (ABOM). Part one discussed how the ABOM could mishandle incoming cash receipts to commit fraud. Part two discussed how the ABOM could mishandle outgoing cash disbursements to commit fraud. This article will be discussing how an ABOM can alter payroll data to embezzle cash. There are two types of payroll schemes that a law organization can fall victim. An ABOM can engage in a ghost employee scheme…
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Fraudulent Billing/Cash Disbursement Schemes (Part II of III) This article represents the second of a three-part series discussing the potential for embezzlement within a firm or organization by its Accountant Bookkeeper Office Manager (ABOM). Part one discussed how the ABOM could mishandle incoming cash receipts to commit fraud. This article will be discussing how an ABOM can mishandle outgoing cash disbursements to commit fraud. There are several fraudulent cash disbursement schemes that can take place within a firm or organization. These schemes fall under two main categories: billing schemes and check tampering schemes. It is possible for these schemes to…
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Cash Receipts (Part I of III) This article represents the first of a three-part series discussing the potential for embezzlement within an organization by its accountant/bookkeeper/office manager (ABOM). ABOM is considered one of the most trusted employees within an organization, making them prime candidates to commit internal fraud. On a daily basis, an ABOM may be dealing with incoming cash receipts, cash disbursements, and processing payroll, including employee benefits programs and expense report reimbursements. This article, specifically, will address the ABOM’s ability to embezzle funds related to cash receipts using skimming and larceny techniques.