Detecting Financial Statement Fraud: Revenue, Earnings, and Expense Manipulation ON DEMAND
Available Until
Your Desk
2.0 Credits
Member Price $58.00
Non-Member Price $67.00
Overview
This course provides an overview of common fraudulent practices aimed at inflating revenue and earnings, as well as manipulating expenses. It examines the tactics used by some companies to misstate revenue, manage earnings artificially, and underreport or misclassify expenses. Understanding these fraudulent schemes allows auditors to better identify signs of manipulation.
Highlights
Revenue and earnings manipulation. Non-recurring items. Detecting improper use of non-recurring items. Overstating deferred revenue. Common mistakes in deferred revenue. Intentional mistakes in deferred revenue. Detecting intentional misstatements in deferred revenue. Backdating transactions. Detecting backdating, and more.
Prerequisites
None.
Designed For
Auditors, CPAs, CEOs, CFPs, and other accounting professionals.
Objectives
Identify common methods of manipulating revenue and earnings in financial statements. Recognize indicators of inflating earnings with non-recurring items and overstating deferred revenue. Distinguish between legitimate and fraudulent journal entries. Recognize indicators of backdating transactions and how they can impact financial reporting. Identify fraudulent activities that involve understating expenses and liabilities in financial statements. Recognize common schemes for misclassifying financial statement items and manipulating reserves. Distinguish between legitimate and fraudulent lease classifications under accounting standards.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Kelen Camehl, Western CPE
Kelen is a recognized author and reviewer of CPE courses and has authored over 85 courses (225+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. His courses are available for purchase from many online CPE providers including the AICPA. Kelen has also remained involved in CPA exam content development for nearly 10 years and has authored more than a thousand multiple choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s “Journal of Accountancy”.
Kelen has over 15 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Consultant with HP, Inc. in Dallas, TX. Most recently he was located in Budapest, Hungary on a three-year international assignment and served in the company’s Houston, TX location prior to this assignment. Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.
Non-Member Price $67.00
Member Price $58.00