What are two signs or clues that an employee might be stealing inventory from the business and what should the owner look for in each case?

I’m working on a micro economics discussion question and need an explanation and answer to help me learn.

OVERVIEW

In this module, we’re adding merchandising companies to our basic accounting foundation. Inventory management is a very important aspect of our study of accounting.

INSTRUCTIONS

Assume that you are a consultant to a small business. The owner of the business does not have an accounting background and has turned to you for assistance. The owner believes that one or more employees may be stealing inventory from the business. Write a memorandum to the business owner in which you identify the type of business (your choice) and answer the following questions:

  1. What are two signs or clues that an employee might be stealing inventory from the business and what should the owner look for in each case?
  2. What are two possible internal controls that can be implemented to prevent the inventory theft?
  3. What disciplinary action would you recommend for employees who are discovered to be stealing inventory?

Rubric says:

Initial post addresses all questions thoroughly.

Posts have no mechanical or grammatical errors and include properly cited materials if appropriate.

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