Suppressing cash receipts
This query is : Resolved
Harsha kalani
(Querist)
26 September 2014
What is teeming and lading?
26 September 2014
This is a method by which the deficiencies of cash are concealed for some time. When cash is received from a debtor, it is not recorded in the cash books and is instead misappropriated.
Later on, when cash is received from another debtor, his account is not credited but the account of the first debtor is credited and cash is debited. Again later on, when cash is received from that debtor, his account is not credited but that of the second debtor is credited instead, and cash is debited.
This process goes on until the fraud is discovered.
Later on, when cash is received from another debtor, his account is not credited but the account of the first debtor is credited and cash is debited. Again later on, when cash is received from that debtor, his account is not credited but that of the second debtor is credited instead, and cash is debited.
This process goes on until the fraud is discovered.
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