Detecting Financial Statement Fraud: Asset, Equity, and Reporting Mismanagement ON DEMAND
Available Until
Your Desk
2.0 Credits
Member Price $58.00
Non-Member Price $67.00
Overview
This course covers fraudulent activities involving asset and equity mismanagement, as well as deceptive reporting practices. This course highlights how companies may misstate asset values, manipulate equity, and misreport financial disclosures to mislead stakeholders. By learning to recognize these schemes, auditors can enhance their ability to detect fraud and ensure greater transparency and trust in financial statements.
Highlights
Asset and equity mismanagement. Manipulating depreciation or amortization schedules. Related party transaction fraud. Creating shell companies for fraudulent transactions. Manipulating stock option accounting. Failure to consolidate related entities. Failure to disclose contingent liabilities. Misreporting foreign currency gains or losses. Misleading disclosures. Best practices for ethical financial reporting.
Prerequisites
None.
Designed For
Auditors, CPAs, and other accounting professionals.
Objectives
Identify fraud schemes that involve overstating assets and manipulating equity. Recognize fraud indicators related to depreciation, amortization, and stock option accounting. Differentiate between legitimate and fraudulent related party transactions. Identify indicators of misleading disclosures and misreporting of foreign currency transactions. Recognize red flags indicating failure to disclose contingent liabilities. Distinguish between legitimate and fraudulent consolidation practices.
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