Types of Financial Statement Fraud: Key Schemes and How They Are Carried Out ON DEMAND
Available Until
Your Desk
4.0 Credits
Member Price $58.00
Non-Member Price $67.00
Overview
This course provides an overview of the various forms of financial fraud and manipulation that can distort financial statements and mislead stakeholders. It addresses tactics used by some companies to artificially inflate revenue, understate liabilities, mismanage assets, and misreport disclosures. By understanding these fraudulent practices, auditors can better identify these types of frauds and ensure more accurate and transparent financial reporting for stakeholders.
Highlights
Revenue and earnings manipulation. Non-recurring items. Detecting improper use of non-recurring items. Deferred revenue. Detecting intentional misstatements in deferred revenue. Backdating transactions. Detecting backdating. Fraudulent journal entries, and more.
Prerequisites
None.
Designed For
Auditors, CPAs, and other accounting professions.
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.
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