Tag: Sales-Operations-consultant-Pune

Totally Nuts

 Call us narrow-minded (you wouldn’t be the first) but our peanut butter experiments came to a halt around the 2nd grade, when we discovered Reese’s Peanut Butter Cups. “You got chocolate in my peanut butter!”

Others kept right on trucking. Peanut butter and pickles. Peanut butter and mayonnaise. What is it about peanut butter? People combine it with anything and claim it’s delicious.

For proof, check out P.B. Loco, a line of extreme peanut butter combos from three Minnesota ex-lawyers who never met a peanut-butter-and-anything sandwich they didn’t like.

A few of their flavors, available online at PBLoco.com: peanut butter, chocolate and banana; peanut butter and Asian curry; peanut butter and sun-dried tomato.

Or, if that’s not exotic enough, you can visit one of two P.B. Loco cafes, in Arizona’s Scottsdale Fashion Square and the Fox River Mall in Wisconsin. There the menu includes the Latte Da (cafe mocha peanut butter, pretzels and marshmallows), the Wacko (curry spice peanut butter, pickles, coconut and potato chips) and the Monkey’s Uncle (chocolate-banana peanut butter, Mandarin oranges and granola).

Sandwich combos are $4.95 or $5.50. If you want to design your own sandwich, that’s $4.50. You can choose one of the P.B. Loco flavors and mix it up with all sorts of extras: cucumbers, pineapple, raisins, etc.

If this sort of menu appeals to you, P.B. Loco invites franchise inquiries.

We have a menu suggestion: peanut butter and Maalox.

Three Basic Fraud Types

Employee fraud comes in many shapes and sizes. It goes by several different names, including internal fraud, occupational fraud, or employee dishonesty. There are three basic types of fraud:asset misappropriation, bribery and corruption, and financial statement fraud. In many fraud schemes perpetrated by employees, more than one type of fraud is present.

We hear about asset misappropriation the most often, probably because they are the frauds that occur the most often and they’re the easiest schemes to understand. An asset misappropriation might include things like check forgery, theft of money, inventory theft, payroll fraud, or theft of services.

Recent statistics show that asset misappropriation happens in over 91% of fraud schemes. This easily makes it the most common fraud, but statistics show that it is the least expensive fraud on a per-fraud basis. The average asset misappropriation costs a company $150,000.

The next most frequently occurring fraud scheme is bribery and corruption, which is part of about 30% of all fraud that is uncovered. Bribery and corruption include schemes such as kickbacks, shell company schemes, bribes to influence decision-making, manipulation of contracts, or substitution of inferior goods. The average bribery/corruption scheme is far more costly than asset misappropriation, at $538,000 per scheme.

The least common type of fraud is financial statement fraud. Although it occurs least frequently, in only 10% of all fraud cases, it is easily the most expensive. The average financial statement fraud costs a company $2 million. This type of fraud centers on the manipulation of financial statements in order to create financial opportunities for an individual or entity. Think manipulation of stock price, increased year-end bonuses, favorable loan terms, or other indirect benefits from the financial statement fraud.

It is easy to see how quickly the cost of fraud can rise. Could your company withstand a fraud the size of any of the above averages?