Question
You have been hired as a forensic accountant to investigate a potential case of employee embezzlement at a company. You discover that an employee has
You have been hired as a forensic accountant to investigate a potential case of employee embezzlement at a company. You discover that an employee has been stealing money from the company by creating fake expense reports and reimbursing themselves for non-existent expenses.
You analyze the company's expense data and find that the employee has submitted fake expense reports totaling $20,000 over the past year. Additionally, you discover that the employee has been reimbursed for expenses that were not actually incurred, totaling $5,000.
Using this information, calculate the total amount of money that the employee has embezzled from the company and explain how you arrived at your answer.
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Applied Corporate Finance
Authors: Aswath Damodaran
4th edition
978-1-118-9185, 9781118918562, 1118808932, 1118918568, 978-1118808931
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