How to verify correct amount of cash


Should You Go the Extra Mile?

Response to the following problem:

You work in a small convenience store. The store is very low-tech; you ring up the sales on an old-style cash register that merely records the amount of the sale. The store owner uses this cash register tape at the end of each day to verify that the correct amount of cash is in the cash register drawer. On a day-to-day basis, no other financial information is collected about store operations.

Since you started studying accounting, you have become a bit uneasy about your job because you see many ways that store operations could be improved through the gathering and use of financial information. Even though you are not an expert, you are quite certain that you could help the store owner set up an improved information system. However, you also know that this will take extra effort on your part, with no real possibility of receiving an increase in pay

Should you say anything to the store owner, or should you just keep quiet and save yourself the trouble?

 

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Accounting Basics: How to verify correct amount of cash
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