Bussiness Accounting Discussion

  one or two paragraph

Read the following case scenario:

Luann Buell works as a teller for a local Credit Union. When she arrived at work on Thursday, the branch manager, Mike Stokey, asked her to get her cash drawer out early because the head teller, Jim Best, was conducting a surprise cash count for all the tellers. Luann’s drawer was $50 short and her reconciliation tape showed that she was in balance on Wednesday night. Jim asked Luann for an explanation and Luann immediately took $50 out of her wallet and handed it to him. Luann explained she needed the cash to buy prescriptions for her son and pay for groceries and intended to put the $50 back in her cash drawer on Friday, which is pay day. She also told Jim that this was the first time she had ever “borrowed” money from her cash drawer and that she would never do it again.

Identify the ethical considerations of this case from both Luann’s (teller) and Jim’s (head teller) perspectives. What options does Jim have to address this problem? Assume Jim chooses to inform the branch manager, how should he approach the issue with his boss? Additionally, brainstorm at least four ideas to safeguard cash on hand at the credit union (petty cash, teller drawer cash, and vault cash) from employee theft and mismanagement.