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1. Significant Unusual Transactions
Former CEO, CFO, and other top officers of a corporation were accused of falsifying the company’s financial records in order to inflate the organization revenue so that the company would meet analysts’ financial projections.
2. Accounting Information Systems (AIS) and Fraud
An executive signed a Form S-4 and a Form S-4 amendment that Company WXZ, Inc. filed with the SEC while knowing, those filings contained materially false and misleading information on prior revenue and earnings per share(2) approved backdated contracts, among other misleading actions.
3. Analyzing Accounting Transactions
Analyzing accounting transactions involves simple steps that can make a difference in the quality of the financial information.
4. Cost Behavior Assumptions
Managers need help determining how the cost of resources used changes as the activity output changes. Decision-makers can make processes more efficient. What is the ratio of number of units produced compared to fixed, variable, and mixed costs? Assessing cost behavior takes into consideration the ti
5. Drawing Conclusions from Financial Statements
Forensic accountants find useful information in the financial statements. Financial statements analysis helps decision-makers and financial investigators to draw conclusions for different purposes.
6. Worst and Best Case Scenarios
Forensic accountants are familiar with scenario analysis because it is crucial for them to present information in such a way that a layperson may see the difference between one situation and another and its economic impact just by looking at a simple table with both the worst and the best cases.
7. Budgeting and its Role in Decision Making
A budget is a valuable tool for decision making. Planning and monitoring are essential for the organization's sustainability.
8. Statement of Cash Flow - Direct or Indirect Method
The indirect method is the most widely used.The direct method is call income statement method while the indirect method is called the reconciliation method.
9. Transactions' Cycles and Internal Control
Several internal control procedures are common to most transaction cycles. Analyzing the internal controls of each transaction cycle is better achieved through the cycle approach, which combines different similar transactions with the ledger balance.
10. Madoff’s Accountant and the Financial Debacle
Charges against Madoff's auditor describe many omissions incurred in detriment of the public trust in our profession. Our responsibilities as professionals include exercise sensitive professional and moral judgments in all our activities.
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