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Post Void
{{Unreferenced, date=January 2021 In the context of point-of-sale and accounting systems, the term post void is a transaction which cancels, or deletes entirely, a previously completed transaction. The distinction is that the transaction being voided is one that was already completed, versus one that is still in the process of being made. The ability to post void a transaction is normally restricted to supervisory personnel. Although the capacity to perform such a transaction is not necessarily fraudulent, there are many scenarios of employee theft, embezzlement, and so-on which could be enabled in part by the intentional misuse of this capability. Auditors and loss prevention Retail loss prevention (also known as Retail asset protection) is a set of practices employed by retail companies to preserve profit. Profit preservation is any business activity specifically designed to reduce preventable losses. A preventable ... departments therefore routinely scrutinize these tran ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Database Transaction
A database transaction symbolizes a unit of work, performed within a database management system (or similar system) against a database, that is treated in a coherent and reliable way independent of other transactions. A transaction generally represents any change in a database. Transactions in a database environment have two main purposes: # To provide reliable units of work that allow correct recovery from failures and keep a database consistent even in cases of system failure. For example: when execution prematurely and unexpectedly stops (completely or partially) in which case many operations upon a database remain uncompleted, with unclear status. # To provide isolation between programs accessing a database concurrently. If this isolation is not provided, the programs' outcomes are possibly erroneous. In a database management system, a transaction is a single unit of logic or work, sometimes made up of multiple operations. Any logical calculation done in a consistent mode in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Auditor
An auditor is a person or a firm appointed by a company to execute an audit.Practical Auditing, Kul Narsingh Shrestha, 2012, Nabin Prakashan, Nepal To act as an auditor, a person should be certified by the regulatory authority of accounting and auditing or possess certain specified qualifications. Generally, to act as an external auditor of the company, a person should have a certificate of practice from the regulatory authority. Types of auditors * External auditor/ Statutory auditor is an independent firm engaged by the client subject to the audit, to express an opinion on whether the company's financial statements are free of material misstatements, whether due to fraud or error. For publicly traded companies, external auditors may also be required to express an opinion over the effectiveness of internal controls over financial reporting. External auditors may also be engaged to perform other agreed-upon procedures, related or unrelated to financial statements. Most important ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loss Prevention
Retail loss prevention (also known as Retail asset protection) is a set of practices employed by retail companies to preserve profit. Profit preservation is any business activity specifically designed to reduce preventable losses. A preventable loss is any business cost caused by deliberate or inadvertent human actions, colloquially known as " shrinkage". Loss prevention is mainly found within the retail sector but also can be found within other business environments. Retail loss prevention is geared towards the elimination of preventable loss. Most companies take this traditional approach by either having their own in-house loss prevention team or using external security agencies. Shrink Items that are unaccounted for compared to what the inventory system believes the store should have are losses or "shrink". Shrink is caused by operational errors, internal theft, and external theft. Retail loss prevention is responsible for identifying these causes and following up with traini ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
