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Show I Deer Valley Resort presents the Utah Symphony in concert July 13 at 6 p.m. outdoors at the Snow Park Lodge This fabulous concert is a salute to Composi-r Jerome Kern, and features Guest Conductor Norman Leyden. Tickets are $10 for adults and $5 for children under 12, and are available at The Hugerv, Deer Valley Lodging, Kimball Art Center, The Stew Pot, and First Security Bank. I For more information, call 649-1000. II Following the concert, enjoy fabulous dining in a casual atmosphere at The 1 luggerv until II 9:30 p.m. Reservations recommended. DEER VALLEY Unspoiled. Uncrowded. Uncommonly civilized. financial planning Kathy Engle Mark Hulet HULET& ASSOCIATES Certified Public A ccountants EMBEZZLEMENT "Show me a company with a very busy manager and I'll show you a company that can be ripped off." So goes the song of the embezzler. The bookkeeper looking tor an easy mark likes to work for a manager who says, in words or attitude, "I don't want anything to do with the books; that's your department." . No company is too small to be exempt from embezzlement. In fact, small companies, because of the limited number of employees, have a serious problem. They don't have enough personnel to divide the money-handling functions among different employees. Usually the same employee opens the mail, prepare the checks, payroll reports, deposits, monthly billings, bank reconciliations and perhaps even the financial statements. If you have employees handling money functions and you are not personally acquainted with the necessary safeguards, you should have a review of internal controls done by your accountant. Some very simple embezzlement techniques used in even the smallest companies are: 1 ) overpaying payroll taxes to the government, then applying for a refund and cashing the refund check, 2) establishing a checking account with the company's name which bears signature authority of the bookkeeper (often done in the same bank as the existing company account), 3) making duplicate payments on different dates for the same invoices, sending one to the real vendor and the other to a duplicate account with the same vendor name set up by the embezzler. Even small companies can benefit from the segregation of duties established in larger companies. This control is accomplished by the ownermanager's being involved in certain paper-handling activities. Once your internal controls have been established, they should be reviewed annually to see that they are effective and that they are being followed. 613 MAIN ST., SUITE 301 645-7390 445 EAST 4500 SOUTH, SLC, UT 261-3459 V J ERNSTSEN A FULL SERVICE CO. WATER HEATERS DRAIN CLEANING REFRIGERATION AIR CONDITIONING APPLIANCES REMODELING Strving the entire Park City Areo 649-3900Park City offict 1670 Donanza Dr. 466-0703 Salt Lake City office Bonded, Licensed and Insured 649-0900 n n Used Car Specials 1981 Subaru GLF 1981 Ford Escort Like New! $3595.00 Station wagon $2395.00 1980 Honda Accord 1983 Chev. S-10 Blazer wair $2995.00 V-6, 5 Speed, Sharp $8495.00 BILL MAWHINNEY MOTOR INC. m I 1220 Park Ave. j 7 Park City, Utah 84060 1 I 649-2260 LLj |