Augusta
VIP Contributor
The truth is that a business owner should always be up to date with his or her account books so as to detect fraud easily and curb it quite early. The following are the red flag to look out for:
- Growth in inventory that doesn’t correspond with sales
- Cash flow is declining then the reported earnings is increasing
- There’s an increase in expenses and over-head cost than growth in revenue
- The invoices of the business go unrecorded even for newly bought or sold items
- The loan taken by members or staff of the business are written off as bad debt