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Essay / Research Paper Abstract
This 6 page paper is written in two parts. The first part looks at an existing system to pay expenses that needs to be changed assessing the advantages and disadvantages. The second part of the paper suggests a new system along with the required checks. The bibliography cites 3 sources.
Page Count:
6 pages (~225 words per page)
File: TS14_TEexpsyst.rtf
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Unformatted sample text from the term paper:
and disadvantages to the current system. The current system sees the employees submit their expenses on a set day each month along with all the receipts for payment along
with the next salary cheque. The advantages fo this system are numerous, it is a system that minimises the risk of fraud or over claiming, There is a recognition that
there may be some over claiming, referred to as padding the expenses, but this is believed to be minimal with the process where the claims is submitted with the relevant
receipts and has to receive authorisation prior to payment. This places a check in place so that there is an independent inspections of the forms to make sure the claims
are accurate and that the receipts match up with the declared costs, in addition to checking the legitimacy of the expenses. There
are also controls over the batch inputting to ensure accuracy. This process also separates the process so that it is in the hands of more than two people, this also
reduces the risk of fraud to the company. The potential of fraud is higher where there is only a single check, but additional checks create a system where systematic fraud
is more difficult. This gives the company a good level of control over the process (ACCA, 2006). The system is well established and the employees understand exactly how it works.
This may also be seen as an advantage as it reduces the potential fort disputes and queries, it also creates a level of stability in the employment relationship. The
system, has a set timetable with deadlines that are in place to allow for the effective payment and simple administration with a singular process that takes up only a small
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