Protect your company from business card abuse.
There is a tremendous amount of debate centered on how business expenses should be funded, reported, authorized and reimbursed. Business expense fraud is #4 on the list of most common fraud schemes, behind corruption, billing and noncash. It lasts on average 24 months before it is identified and account for 11% of the total cases of fraud in 100+ employees, 21% in smaller firms according to the Association of Certified Fraud Examiners. This material will show you how can you protect your company and at the same time your employees against fraud while maintaining fairness and equity.
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Why Lorman?
Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Short History of Business Expenses and How They've Grown
- Started With Outside Sales People
- Executives
- Average Employees Have Business Expenses
Who Is Responsible for Business Expenses
- The Business Should Provide Employees the Tools for Work
- The Employee Shoulders That Responsibility
Payment Options
- Petty Cash
- Expense Report
- Computer Based Expense Report
- Employee Owned Credit Card(s)
- Business Owned Credit Cards(s)
- Hybrid
Normal Problems With Each Type of Payment Options
- No Receipt
- Unauthorized Purchase
- Error in Card Usage (They Took out Their Business Card, Not Their Personal (or Vice Versa)
- Lost Receipts
- Delayed Reports
Fraud
- Fake Bills
- Personal Expenses Taken as Business
- Extravagant Amounts in Violation of Norms/Policy
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Why Lorman?
Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on May 11, 2018.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Wayne Spivak
SBA Consulting, LTD
- Seasoned chief financial officer with both private company and private equity group (PEG) portfolio experience
- A strategic thinker, possesses strong business acumen, possesses top-notch finance and accounting skills, and is effective at working with senior management
- At his former companies (clients), he installed MRP accounting systems, made process improvements, drove the budgeting process, and has been involved in the M&A process (buy/sell); he has also championed the pre-sale process by extolling the virtues of planning for an exit when one is not even contemplated
- He has grown the company, empowered the employees and provided the ethical backbone to the CEO
- Former adjunct instructor at Lehman College is an expert in the following business sectors: distribution, manufacturing, and service/professional in addition to the system selection and implementation process
- Has also spent many years working with both start-ups and turnaround situations
- Written extensively on varied business subjects, been interviewed in both Money and Bloomberg as well as a major contributor to Proformative.com, a community of financial professionals
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Why Lorman?
Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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