In the case study, Levon Helm ran a successful mortgage company. Levon Helm used to buy property at discounts, then sell it for a profit. Cindy Patterson was his only employee due to the small size and complexity of the company. Cindy Patterson was the accountant. Cindy Patterson was a friend from childhood and she trusted her wholeheartedly. He did not bother to verify her credentials. To steal money from the company she began, then she falsified paperwork to escape. This was a fatal mistake. Helm had lost everything by that time. It was bankrupt.
Patterson managed the case study’s bank reconciliations, as well as the ledgers. This is because she was an accountant. Accounting is an idea that has been around for some time. Modern accounting principles may be dated back to Luca Pacioli in the 15th century, although their origins can be traced back to biblical times (Buys & Cronje, 2013). The Bible contains many references to accounting, including some of its themes. 2 Kings 12-16 explains that records weren’t kept on workers who had received money (New King James Version 2020). This passage states that employees can be honest and records are not kept. Ecclesiastes 4:1-2 outlines another method for accounting in the Bible.
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