Financial Statement Fraud : Strategies for Detection and Investigation

Valuable guidance for staying one step ahead of financial statement fraud Financial 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 eme

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Year of publication:	2012
Authors:	Zack, Gerard M.
Publisher:	New York : Wiley
Subject:	Bilanzdelikt \| Accounting fraud \| Betrug \| Fraud

Extent:	Online-Ressource (312 p)
Series:	Wiley Corporate F&A Wiley Corporate F&a Ser
Type of publication:	Book / Working Paper
Language:	English
Notes:	Description based upon print version of record Financial Statement Fraud; Contents; Foreword; Preface; Acknowledgments; PART ONE Revenue-Based Schemes; 1 Introduction to Revenue-Based Financial Reporting Fraud Schemes; REVENUE RECOGNITION PRINCIPLES; CHANGES PROPOSED BY FASB AND IASB; OVERVIEW OF REVENUE-BASED SCHEMES; 2 Timing Schemes; ALTERATION OF RECORDS; SHIPPING SCHEMES; PERCENTAGE OF COMPLETION SCHEMES; IMPROPER ESTIMATES OF REVENUE RECOGNITION PERIOD; MULTIPLE-ELEMENT REVENUE RECOGNITION SCHEMES; CUSTOMER LOYALTY PROGRAMS; CHANNEL STUFFING; Bristol-Myers Squibb; McAfee, Inc.; Krispy Kreme Doughnuts; ClearOne Communications, Inc. Lantronix, Inc.BILL AND HOLD SCHEMES; SALES WITH RIGHT OF RETURN; IMPROPER PUSHING OF CURRENT REVENUE TO FUTURE PERIODS; USE OF RESERVES AS A RAINY DAY FUND; 3 Fictitious and Inflated Revenue; FICTITIOUS REVENUE SCHEMES; Satyam Computer Services Ltd.; Symmetry Medical Sheffield; LocatePlus Holdings Corporation; SALES TO RELATED PARTIES; INFLATED REVENUE SCHEMES; CONSIGNMENT OR FINANCING ARRANGEMENTS; 4 Misclassification Schemes; RECORDING FINANCING ARRANGEMENTS AS REVENUE; ONE-TIME CREDITS REPORTED AS REVENUE; SALES INCENTIVE SCHEMES From the Customer's Perspective-Incentives Received from a VendorFrom the Vendor's Perspective-Incentives Provided by the Vendor; Example of Scheme Perpetrated by a Customer-The Royal Ahold Case; Example of Scheme Perpetrated by a Vendor- The Carter's Case; 5 Gross-Up Schemes; AGENT VERSUS PRINCIPAL; BARTER AND ROUND-TRIP TRANSACTIONS; PHONY REVENUE AND EXPENSES; PART TWO Asset-Based Schemes; 6 Improper Capitalization of Costs; START-UP COSTS; RESEARCH AND DEVELOPMENT COSTS; PROPERTY AND EQUIPMENT; Accounting for the Acquisition; Costs Incurred during Ownership SOFTWARE DEVELOPMENT AND ACQUISITION COSTSWEBSITE COSTS; INTANGIBLE ASSETS; ADVERTISING COSTS; OTHER DEFERRALS AND PREPAID EXPENSES; INVENTORY CAPITALIZATION SCHEMES; INVENTORY FLOW ASSUMPTIONS; 7 Asset Valuation Schemes; FICTITIOUS ASSETS; INVENTORY VALUATION SCHEMES; INFLATING THE BASIS OF PROPERTY AND EQUIPMENT; INFLATING THE BASIS OF ASSETS ACQUIRED IN NONCASH TRANSACTIONS; ASSETS ACQUIRED FROM RELATED PARTIES; UNDERSTATING DEPRECIATION AND AMORTIZATION EXPENSE; INVESTMENT PROPERTY; IMPROPER VALUATION OF INVESTMENTS- FINANCIAL ASSETS; Unlisted Equity Instruments How an Impaired Investment Becomes GoodwillImpairment Losses; LOANS; EQUITY METHOD INVESTMENTS; PROPORTIONATE CONSOLIDATION; IMPROPER CLASSIFICATION OR AMORTIZATION OF INTANGIBLE ASSETS; IMPAIRMENT LOSSES-NONFINANCIAL ASSETS; ASC 360; ASC 350; INVESTMENTS IN INSURANCE CONTRACTS; 8 Fair Value Accounting; FAIR VALUE CONSIDERATIONS; METHODS OF MEASURING FAIR VALUE; Market Approach; Income Approach; Cost Approach; INTERNAL VERSUS EXTERNALLY DEVELOPED VALUATIONS; INPUTS USED IN MEASURING FAIR VALUE; PART THREE Expense and Liability Schemes; 9 Shifting Expenses to Future Periods TIMING SCHEMES INVOLVING LIABILITIES
ISBN:	978-1-118-30155-5 ; 978-1-118-41977-9 ; 978-1-118-30155-5
Source:	ECONIS - Online Catalogue of the ZBW

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