Financial Statement Fraud

Gerard M. Zack 지음

Wiley 2012년 11월 05일 출간

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Valuable guidance for staying one step ahead of financial statement fraudFinancial statement fraud is one of the most costly types of fraud and can have a direct financial impact on businesses and individuals, as well as harm investor confidence in the markets. While publications exist on financial statement fraud and roles and responsibilities within companies, there is a need for a practical guide on the different schemes that are used and detection guidance for these schemes. Financial Statement Fraud: Strategies for Detection and Investigation fills that need.Describes every major and emerging type of financial statement fraud, using real-life cases to illustrate the schemesExplains the underlying accounting principles, citing both U.S. GAAP and IFRS that are violated when fraud is perpetratedProvides numerous ratios, red flags, and other techniques useful in detecting financial statement fraud schemesAccompanying website provides full-text copies of documents filed in connection with the cases that are cited as examples in the book, allowing the reader to explore details of each case furtherStraightforward and insightful, Financial Statement Fraud provides comprehensive coverage on the different ways financial statement fraud is perpetrated, including those that capitalize on the most recent accounting standards developments, such as fair value issues.

목차

Foreword xiiiPreface xviiAcknowledgments xxiPART I REVENUE-BASED SCHEMES 1Chapter 1 Introduction to Revenue-Based Financial Reporting Fraud Schemes 3Revenue Recognition Principles 3Changes Proposed by FASB and IASB 5Overview of Revenue-Based Schemes 6Chapter 2 Timing Schemes 9Alteration of Records 9Shipping Schemes 10Percentage of Completion Schemes 12Improper Estimates of Revenue Recognition Period 15Multiple-Element Revenue Recognition Schemes 17Customer Loyalty Programs 22Channel Stuffing 24Bill and Hold Schemes 27Sales with Right of Return 29Improper Pushing of Current Revenue to Future Periods 30Use of Reserves as a Rainy Day Fund 32Chapter 3 Fictitious and Inflated Revenue 33Fictitious Revenue Schemes 33Sales to Related Parties 37Infl ated Revenue Schemes 41Consignment or Financing Arrangements 43Chapter 4 Misclassification Schemes 47Recording Financing Arrangements as Revenue 47One-Time Credits Reported as Revenue 49Sales Incentive Schemes 50Chapter 5 Gross-Up Schemes 57Agent versus Principal 58Barter and Round-Trip Transactions 59Phony Revenue and Expenses 61PART II ASSET-BASED SCHEMES 63Chapter 6 Improper Capitalization of Costs 65Start-Up Costs 66Research and Development Costs 67Property and Equipment 68Software Development and Acquisition Costs 71Website Costs 73Intangible Assets 75Advertising Costs 77Other Deferrals and Prepaid Expenses 79Inventory Capitalization Schemes 80Inventory Flow Assumptions 81Chapter 7 Asset Valuation Schemes 85Fictitious Assets 85Inventory Valuation Schemes 86Inflating the Basis of Property and Equipment 88Inflating the Basis

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저자(글) Gerard M. Zack

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GERARD M. ZACK, CFE, CPA, CIA, is a fraud examiner and forensic accountant with more than thirty years of experience performing audits and investigating fraud. In addition to providing antifraud services to clients, he serves on the faculty of the Association of Certified Fraud Examiners, where he conducts antifraud training on financial statement fraud and other topics. He has also spoken at AICPA and IIA events.