Misuse of Funds
Using money in a way that was not authorized or appropriate.
It is the small-business cousin of a shaded statement, because both treat money that is not the business's yet as though it already were.
Often Confused With
- Fraud
- Fraud deceives a reader about the numbers; misuse of funds spends money in a way that was never authorized.
Taught In
See Also
3.9.A.1 · 3.9.A.2