StudentShare solutions
Triangle menu

Forensic Accounting Review Questions (Easy) - Essay Example

Nobody downloaded yet

Extract of sample
Forensic Accounting Review Questions (Easy)

Either the management or the accounting team are the most prone to engaging in these acts. Lack of business ethics and personal morals are the breeding grounds for these fraudulent activities. It has been clear that individuals engage in fraudulent activities because of diverse motivations and stimulations. When it comes to revenue fraud, the likelihood is for the company to overstate and understate various parameters, we found that this is done by manipulating the sales, recognition of conditional sales, sale of consignments, misstatement of the percentage of completion, abusing of the cut off dates, unauthorized shipment and premature recognition of revenue. Concerning the same issue of revenue, the collusion by the fraudsters can result to situations such as understatement of bad debts, overstatement of ending inventories, overstatement of the assets’ worth, and understatement of the liabilities among other dubious means. All these aspects are under the motivation of the need to cover up mistakes or misrepresentation of the financial position of the company. The knowledge acquired is very helpful to my future employer and me as an individual. In the workplace, we have diversity of people, some of whom can manipulate situations to their advantage. It is important to aware of what is ethical in the workplace in order to avoid being trapped on such situations. Sometimes the management may coerce an employee to engage in a fraudulent activity, without such knowledge one is likely to commit fraud unknowingly. Another thing is that lessons learnt stirred my curiosity in understanding business law; it has prompted me to start engaging this area since it can easily result to personal and organizational damages. In addition, it has opened my mind to the understanding business of dynamics, including the manipulations that are likely to be made in order to misrepresent information for a particular organization. The group was very influential in the understanding of the topic. I participated in the group activity by handling the section that I was assigned to research on and went ahead to help in the report writing. The group members were very cooperative hence facilitating timely achievement of results. I also presented a fraudulent case scenario that enhanced the understanding of the topic. The case had featured in one of the local dailies; it helped us relate very well what we learnt in class. Each member of the group completed the task assigned to them on time hence the ability of the group to finish the project on time. Despite the many lessons learnt some of the topic areas were challenging and presented some level of difficult. During the lecture sessions I found difficult in understanding the legal provisions of that are related to fraudulent activities. However, after extensive and repetitive reading I was able to comprehend the sub-topic. Question 2 Fraudulent activities are not easily identified, it is highly unlikely that a fraudulent activity will be realized unless the parties involved leak information or some auditing system unearths it. These are the likely means through which tips come along, without which it may be impossible to recognize a fraudulent activity. I do not think a fraudulent activity is recognized in the first instance. The high level of secrecy that is involved hampers the process of ...Show more


Name Instructor Date Forensic Accounting Review Questions Question 1 The team project was very informative and helped me understand several diverse aspects of fraud relating to a financial statement and revenue. Through the research we did, we drew common conclusions as a group; the most striking thing was the understanding on the motivations behind fraudulent activities…
Author : cornell11
Forensic Accounting Review Questions (Easy) essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Forensic Accounting Review Questions (Easy)"
with a personal 20% discount.
Grab the best paper

Check these samples - they also fit your topic

Forensic Accounting in Practice
During the period of recent economic downturn, the accounting practices have been widely been recognized to undergo radical changes that have largely resulted from the controversies faced by various renowned organizations along with emergence of accounting scandals across the globe.
7 pages (1750 words) Essay
Forensic Accounting Case Question (easy)
Although she could use this as an opportunity to prove her expertise in forensic accounting, the manner in which she approaches the situation significantly would determine her success. With the understanding that on Fridays, George, Gwen, Andy and Bob go out for lunch together is enough evidence that there is a close relationship among these individuals.
4 pages (1000 words) Essay
Use of Technology in Forensic Accounting Investigation
Investigations are normally carried out with the objective of determining what caused the incident or accident to happen. Forensic refers to the process of using science and technology in carrying out investigations and establishing facts about a case filed in a court of law.
10 pages (2500 words) Essay
Choice of Accounting as a Career
According to the report a change in markets of China, Japan or India directly impacts the markets of United States and the UK or frauds in United States can directly cause market turbulence in the entire world due to large amount of global business. Continental Europe primarily due to inflated financial reporting to showcase aggressive earnings management.
30 pages (7500 words) Essay
E-Marketing Review for Easy Jet
This fuelled customer interest, which in turn stimulated the industry and the airline. Finally in 1978 the US domestic airlines sector was deregulated and Southwest took this opportunity to spread
20 pages (5000 words) Essay
Future of Forensic Accounting and Accountants
ve engaged forensic accountants to investigate and gather evidence which would help to decide the extent of crime and formulate penalties accordingly. Businesses on the other hand to avoid colossal damages manage forensic accountants on their payroll to prevent frauds and other
3 pages (750 words) Essay
Computer Forensic
The Fourth Amendment of the US Constitution ( and each state’s constitution) protects everyone’s right to be secure in their person, residence and property from search and seizure. Thus like any
36 pages (9000 words) Essay
Research Essay is an essay based on the cyber forensic
Presently, modern day cyber precaution ethics habitually require far-reaching aftermarket standardisation to be accurately successful within management systems fields (Saks & Koehler, 2005). In addition, the operating cost
16 pages (4000 words) Essay
Accounting questions
To this effect, it had shipped a huge amount of cards, which were included in revenues. The difference arose when auditors disputed this move by proposing the cards be indicated as unrealized sales. I think the auditors erred in their point of view because for previous
3 pages (750 words) Essay
Forensic Accounting
red by standard setting against which practical problems can be tested objectively.Ordinarilly; it will deal with financial reporting issues such as the objectives and the general users of financial statements. The concept of recognizing and measuring the elements of financial
12 pages (3000 words) Essay
Hire a pro to write
a paper under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
Comments (0)
Click to create a comment
Contact Us