Wednesday, September 17, 2014

Removal Of Assets

I am studying to be an Accountant.

This semester, I am studying topics like Fraud and Internal Control in an organisation, in one of the papers. There are two types of fraud. One is "Removal of Assets or Funds From the Business". Something that comes under this category is "Misappropriation of assets from the organisation", which basically means that as an employee, you are taking an advantage of your position. You may be taking something home that belongs to the organisation. It can be a small thing like a Stapler. Or you might be stealing high end perfumes from the shop.

When I was a kid, my dad always said that stealing is stealing. Whether it is a pencil or a laptop. Its the act that is the same, the thing is of no value. He used to bite the end of his pencils in his office so if he took them home, he knew which one was the company's. And to this day, not one of us kid is allowed to write with any of the pens that my dad uses because they are not ours.

None of us give any importance to little matters like this. But the truth is that it is fraud. You are committing a felony.

Another type of fraud that is included in this category is "Misusing of Organisation's Assets". The most common instance is that we are given a car for office use. But instead it is in your son's hands being used to hang out with his friends. Or for sight seeing Kangaroos with your daughters best friend and your wife's sister's family.

After working in the same company for more than 25 years, now my dad uses his office car for personal use as well. And its only after being granted the official permission. According to him, I do not want my kids being dishonest. It starts with stealing a pencil and than leads to cars, drugs, money etc in the future.

It does not matter what's the value of the thing you misused or stole.

We as human beings have a tendency to dismiss such things as "Being small matters and not that big of a deal".

It will become a big deal, once you develop the thinking that you can utilise anything that comes your way regardless to who it belongs to.

In school, everyone used to open each others bags to take out a notebook or a pen without asking or telling. Obviously, I did not mind my friends opening my school bag. But than everyone who wanted something would just waltz in and open my bag like its their property. I hated that. And I made sure that everyone knew that.

I mean, didn't your mom ever teach you to ask before taking something ?

If you have forgotten. Than start learning.

If you don't. Its called "STEALING". Which is a "FELONY".

Yes, you might not go to jail for taking a rubber out of my pencil box. But when that rubber converts to an Omega watch, you will find yourself in a 7 by 8 foot room.