Accrual-Based Accounting and the Accounting Cycle

Accrual-based Accounting and the Accounting Cycle
Name
Course
Instructor
Date
ACCRUAL-BASED ACCOUNTING Your manager requires that you, as cashier, immediately enter each sale. Recently, lunch hour traffic has increased and the assistant manager asks you to avoid delays be taking customers cash and making change without entering sales. The assistant manager says she will add up cash and enter sales after lunch. She says that, in this way, the register will always match the cash amount when the manager arrives at three o’clock. What do you do?
The assistant manager’s suggestion would reduce delays and improve customer service. Even though this would also reduce my workload, there is concern that the assistant manager has not touched on adequate internal controls. There is no guarantee that what the assistant manager will record reflects all the sales revenue, implying that there is a likelihood of fraud or fewer sales recorded. I would follow the assistant manager’s advice but then inform the manager later on, to give further direction. On one hand, I would not want to be seen as undermining the authority of the assistant manager, while on the other following the organization’s policies would result to inefficiencies given the increased number of customers.
Looking at likely repercussions of the assistant man...