Stewardship of Company Assets: What You Need to Know

The video tutorial covers responsibilities related to physical, financial, intangible property, and company records. It provides guidelines for handling company property, managing funds, protecting intellectual property, and maintaining accurate records. Emphasis is placed on separating personal and company assets, ensuring accurate financial documentation, safeguarding confidential information, and adhering to company policies.

What should you do if you need to use company property for personal benefit?

• Use it without informing anyone

• Sell it to cover personal expenses

• Seek approval in advance and pay for it

• Use it and return it later

Which of the following is considered theft when dealing with company funds?

• Using company credit cards for personal purchases

• Paying for a company event

• Using company funds for a business trip

• Reimbursing travel expenses

What is a key guideline for handling company funds?

• Be more careful with company funds than personal funds

• Use company funds for personal benefit if needed

• Mix personal and company assets

• Ignore discrepancies in financial records

How should confidential information be handled according to company policy?

• Use it only for its intended purpose and share with authorized employees

• Discuss it openly in public places

• Post it on social media for transparency

• Share it with anyone who asks

What should you do with confidential information when leaving the company?

• Share it with your new employer

• Deliver all notes, records, and data back to the company

• Leave it on your desk

• Take it with you for future reference

What is the principle regarding company records?

• Records should be kept secret from auditors

• Only accountants need to worry about records

• Records can be altered if necessary

• If you write it down, it better be true

What should be done with company records that are no longer needed?

• Throw them away in any trash bin

• Sell them to interested parties

• Keep them indefinitely

• Dispose of them according to a set retention and disposal policy