Misuse of Letters of Credit (Lcs), Banker Receipts (Brs) and Cheque (Check) Fraud Leads to Financial Distress : Formulation of a New Approach to Ethic-Based Financial Statement Analysis Based on the M. R. Kumara Swamy Confidensive Motive

As an offshoot of moral bankruptcy and consequent devaluation of man, money rules every aspect of to-day's business life. In pursuit of money, man descends to the level of the beast by engaging in frauds like forging letters of credit (LCs)/banker receipts (BRs), cheque (check) frauds and allied manipulative business dealings like money laundering, accounts manipulation and other heinous crimes. Selfishness as a contagious disease is at the bottom of the evil and it is growing on account of disregard for moral values. It is in this context, the application of the Kumara Swamy Confidensive Motive coupled with the need for the newlyformulated unique approach to ethic-based financial statement analysis becomes highly relevant and of paramount importance to and to aid judicious decision-making