Forensic Accounting class discussion - Assignment Example

Forensic Accounting Forensic Accounting Computer forensics Computer forensics refers to the application of computer analysis, as well as investigation techniques, to gather suitable evidence that can be presented in court. Computer forensics has the sole aim of performing a structured investigation while at the same time ensuring that there is maintenance of evidence. The evidence has to be maintained in order to find out what exactly took place, as well the person who can be held liable for a fraud carried out on a computer (Kranacher, Riley & Wells, 2011).

Functions used by data extraction and analysis softwareThere are several functions that can be utilized in the detection of red flags. Software applications use a combination of functions, some of which include sorting, joining files, as well as record selection and extraction among others. Sorting entails arrangement of the data in some order, which can be regarded as meaningful; this may include the customer number, date, name, and amount. Joining files entails the gathering of various parts of different files of data.

Record selection and extraction entails making a request for the computer to find occurrences in a certain field, which matches a criterion that interests the investigator (Kranacher, Riley & Wells, 2011).Sales skimming as an “off- book” fraudSkimming involves the stealing of cash from an entity before it enters into the accounting system. Sales skimming is referred as an “off-book” fraud since the cash is stolen from the victim before its recording in books of the victim (Kranacher, Riley & Wells, 2011).

Techniques used to conceal a receivables skimming schemeFraudsters may use various techniques with the sole aim of concealing a receivables scheming scheme. One of the techniques used to conceal this form of fraud includes the creation of fake accounts. The write-off of inventories is also another method used to conceal a receivables scheming scheme (Kranacher, Riley & Wells, 2011).The difference between skimming and cash larcenyThe difference between skimming and cash larceny is that skimming entails the stealing of cash before the recording of the cash.

As a result, it becomes one of the difficult frauds to detect. On the other hand, cash larceny involves the theft of cash by employees after its recording in the books of the entity. As such, larceny is can easily be detected than skimming (Kranacher, Riley & Wells, 2011). ReferencesKranacher, M.-J., Riley, R., & Wells, J. T. (2011). Forensic accounting and fraud examination. Hoboken, N.J: John Wiley.