Idaho semi-weekly world. [volume] (Idaho City, Idaho Territory) 1875-1908, 1891-01-02
EXPERT ACCOUNTANTS
SAY EMPLOYERS LOSE MONEY SIM
PLY THROUGH NEGLIGENCE

i4ulUfIZiemrnt Ean
ho Removed Through the Exercise Of .
Little Care Results Of a Careless system
OF Keeping Accounts.
How TO keep trusted clerks from ern.
oezziement Is secret which every busi.
ness hrm or corporation in Chicago would
IKE 10 know There does not pass day
out some populations are discovered from
Tue young man who steals few dollars
una - sent to jail to the genius who
ie4ges lor canada with a million In his
pockets. Expert accountants say that
employers lose money simply through
lheir own negligence, and that all chances
Tor embezzlement can be removed through
the exercise of little care.
w. Z. Baiue says: 1.-THE business of an
expert accountant Is new one in the
west, and has not acquired the dignity Of
profession 1t not only calls for
knowledge Of bookkeeping in one lire Of
business, but 1t also requires knowledge
Of every business, coutractual rights. and
the ability TO construe the terms of con
/ tracts Bat in Chicago, whenever an or
binary bookkeeper is thrown out Of
employment, he at once sets himself nm
f as an expert accountant. OF course such
men fail the keeping Of a set Of books
can be learned in six months as well as in
Six years, and the bookkeeper does not
( realize that this il the smallest part Of
I the knowledge which an expert account
ant should acquire before he can succeed.
+ III Great Britain man cannot arrive TO
the dignsy OF an expert accountant until
he has gone through a course of study in
the same manner as a student for the bar.
lie therefore becomes fitted to answer
In IL I.
the business becomes a life business.
But look at the list If accountants in
the Chicago directory. There are very
few names which appeared in last wears
directory, showing that the business with
many has been but porary one while
the men engaged in it were out Of work
IN their ordinary vocation, that Of keep
ing books. But the business is bound to
grow Business is done in such q hurry
here that mistakes are very liable to
occur. In the large majority Of cases.
+ where an expert accountant is called to
examine set Of books which are out Of
balance, it win be fOund that there has
been no tL.eving, but that carelessness
has been the trouble. Ii bOokkeeDer or
cashier is trusted sufficiently and has the
handling of money it is an easy matter
for him to steal. but it is as much harder
for him to conceal his thefts. very
common way IS to falsify the items On
the debit side Of the cash BOOK, The cor.
rect amounts are eeneralIv entered on
the iedrer account and the merchant
almost invariably Tools AT tho le5@-sr
when he wishes to see. whether any 80.
count has been maid. Il is lis own core
lessness that uerrr.its ernbezzlerne-,4 and
if he has not the time ia loolr oftar Ife
own business he should have an account.
ant 70 over his books three or four times
wear"
Merritt Proolys who has baen II, Aha
business for a u11r1Ee, Of wears has bad
the opportuniry Of Watching the co71rse
taken bv a nun. Der of aYnbrzylcrs. and rba
means used by them to make. their hooks
apparently balance. so that Mt q casual
glance their pecj.iations cannot be dis
covered Tile way happened to enter
into the business was this he sqjd. II
had been engaged as a boolzeeDer fn Buf.
falo, and was employed to examine into
the accounts Of the county treasurer Of
Erie county. 1t was found that through
careless system Of keeping accounts tie
treasurer was short in his cash $40. COO.
This discovery LED to an Investigation
into tie accounts Of the CITY Of Buffalo
from the time when the charter was
originally granted. The sum of 1914 COO
was discovered, the accumulation of
small amounts Of overcnarres on special
assessments. which the CITY had nc
knowledre it nossessed,
1T is difficult for a man who keeps an
upright set of books TO steal his employ
er's money without detection. When a
cashier Of bank wants TO steal money
outright. and with such a sum as he can
take at once and leave for parts unknown,