Fraud In Accounts
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The Complete Guide to Spotting Accounting Fraud & Cover-ups
Author: Martha Maeda
language: en
Publisher: Atlantic Publishing Company
Release Date: 2010
In 2009, high-profile fraud cases like the Ponzi schemes of Bernard Madoff and Arthur Nadel vividly illustrated the harm done to investors who placed their trust in these apparently successful money managers and then discovered their money had never been invested at all. News stories featured 90-year-olds forced by necessity to work in supermarkets, elderly people losing their homes because their life savings were gone, and wealthy retirees suddenly unable to pay their electricity bills. Charities were forced to curtail their services, lay off staff, and even close their doors forever as their funds evaporated. Almost every day, there are stories in the media about dishonest employees who have robbed their organisations of hundreds of thousands of dollars. Not so well-publicised are the countless smaller thefts occurring every day from cash registers, warehouses, and business bank accounts. Sadly, the organisations that have the most to lose small businesses, family-run companies, churches, and charities are often the most vulnerable because of their size and inexperience. According to the Association of Certified Fraud Examiners, accounting fraud cost over $994 billion in 2008, and the average organisation lost 7 percent of its total revenue to fraud. How can you prevent this from happening to you as an investor, business owner, or a person attempting to acquire or merge with another firm? Read this book and you will be able to understand, detect, and avoid accounting fraud. You will learn how to identify fraud, how to spot minor abnormalities that may hide fraud, how to spot forgeries, and how to prove your case, as well as what to immediately suspect and methods for uncovering scams. You will know what signs to look for, including excessive turnover of lawyers and auditors, changing professionals in the middle of a transaction, inconsistent information, and significant declines in stock prices. In addition, you will know how to recognise the common manoeuvres, earnings manipulation, premature and fictitious revenue, overvalued assets, undervalued liabilities, bogus revenue, expenses that have been shifted to another period, overstating revenues, understating expenses, and the misuse and misdirecting of funds. This new book is filled with studies and discussions of fraud cases and how they could have been avoided, checklists for detecting accounts misdeeds, and advice from analysts, CFOs, and CPAs. This manual will be an indispensable aid for serious investors, industry pros, acquisition and merger managers, and small business owners alike. After reading this book you will no longer have to worry about accounting fraud and you can increase your company's profits.
Creative Accounting, Fraud and International Accounting Scandals
Author: Michael J. Jones
language: en
Publisher: John Wiley & Sons
Release Date: 2011-11-01
Business scandals are always with us from the South Sea Bubble to Enron and Parmalat. As accounting forms a central element of any business success or failure, the role of accounting is crucial in understanding business scandals. This book aims to explore the role of accounting, particularly creative accounting and fraud, in business scandals. The book is divided into three parts. In Part A the background and context of creative accounting and fraud is explored. Part B looks at a series of international accounting scandals and Part C draws some themes and implications from the country studies.
Financial Shenanigans
Author: Howard M. Schilit
language: en
Publisher: McGraw Hill Professional
Release Date: 2002-03-22
Techniques to uncover and avoid accounting frauds and scamsInflated profits . . . Suspicious write-offs . . . Shifted expenses . . . These and other dubious financial maneuvers have taken on a contemporary twist as companies pull out the stops in seeking to satisfy Wall Street. Financial Shenanigans pulls back the curtain on the current climate of accounting fraud. It presents tools that anyone who is potentially affected by misleading business valuationsfrom investors and lenders to managers and auditorscan use to research and read financial reports, and to identify early warning signs of a company's problems. A bestseller in its first edition, Financial Shenanigans has been thoroughly updated for today's marketplace. New chapters, data, and research reveal contemporary "shenanigans" that have been known to fool even veteran researchers.