Internal controls: 24 ways to protect your cash, checks, and assets

Article Abstract:

Business owners must protect themselves from costly employee embezzlement and theft. There are 24 steps that they can take to do so. These include having a single person responsible for petty cash disbursements, assigning the person tasked with signing checks to review all supporting documents and reconciling bank statements every month. Business owners should also verify all invoices, regularly check all payments to vendors, rotate duties in the accounting department,and check drug and gambling habits among employees.

Methods, Management, Prevention, Cash management, Employee crimes, Checks, Assets (Accounting), Embezzlement

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How to protect intangible assets

Article Abstract:

Employers can use a number of ways to protect their intangible assets. Patents can be filed to retain the exclusive property of products for over 10 years. Employees can be asked to sign contracts to prevent them from divulging information to competitors, while documentation on inventions or processes should be on hand as proof of ownership.

Protection and preservation, Intangible property, Intangible assets

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