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Embezzlement (from Anglo-Norman, from Old French besillier ("to torment, etc."), of unknown origin) [1] is a term commonly used for a type of financial crime, usually involving theft of money from a business or employer. It often involves a trusted individual taking advantage of their position to steal funds or assets, most commonly over a ...
Pilferage or pilfering is the act of stealing items of low value, especially in small quantities, also called petty theft. Pilferage may also refer to: Package pilferage, the theft of part of the contents of a package; Pilferage (animal behavior), when one animal takes food from another animal's larder
Petty theft is the default category for all other thefts. [83] Grand theft is punishable by up to a year in jail or prison, and may be charged (depending upon the circumstances) as a misdemeanor or felony, [84] while petty theft is a misdemeanor punishable by a fine or imprisonment not exceeding six months in jail or both. [85]
Larceny is the unlawful taking of another person's property with the intention to deprive the owner of it. If the stolen object is above a large value, then it is considered a felony and is called a grand theft. A petty theft is stealing an object with small value which would pass as a misdemeanor.
Theft, both internal and external to the company, continues to be the driving force behind retail inventory shrinkage, at 78.3% of all shrinkage in 2008. Of that portion, 42.7% is attributed to employee (also known as internal) theft and 35.6% was due to external theft, known as shoplifting .
Petty cash is a small amount of discretionary funds in the form of cash used for minor expenditures. [ 1 ] The most common way of accounting for petty cash expenditures is to use the imprest system .
You worry about being a victim of petty theft, or. You love traveling, but sometimes when exploring a new place you feel off guard. You worry about being a victim of petty theft, or
The imprest system is a form of financial accounting.The most common is petty cash. [1] The basic characteristic of an imprest system is that a fixed amount is reserved, which after a certain period or when circumstances require, because money was spent, will be replenished.