Financial Statement Fraud
Detect the warning signs of financial statement fraud before they distort decisions and expose an organization to serious consequences. This course explains the many ways in which financial statements can be manipulated. It also shows how fraud schemes develop, where high-risk accounting areas reside, and how you can respond with sharper analysis, stronger skepticism, and more effective investigative procedures.
Format
PDF Course
Course Lists
Duration
6 Hours
Course Information
Author: Steven Bragg
Course number: AU1047
Learning Objectives
- Recognize the accounting rules pertaining to consignment arrangements.
- Recall the factors that support gross revenue presentation.
- Recognize the issues related to the creation of large credit memos.
- Specify the conditions indicating an understated obsolescence reserve.
- Recall the fraud risks associated with holding consigned goods.
- Recognize the indicators of an incorrect inventory count.
- Recall the impact of capitalizing production variances.
- Recognize the indicators of standard cost manipulation.
- Specify the conditions under which expenses should not be capitalized.
- Recall why training should not be capitalized.
- Recognize the situations in which vendor invoice cutoff may arise.
- Recall how certain payroll accounting practices can reduce payroll expenses.
- Recognize how leverage ratios can be incorrectly improved.
- Specify how a contingent liability can create an accrual risk.
- Recall the issues with incorrect debt modification accounting.
- Recognize the indicators of possible asset impairment.
- Recall how depreciation expense can be incorrectly reduced.
- Recognize what goodwill records in an acquisition transaction.
- Specify the valuation inputs used to derive a fair value estimate.
- Recall the assumptions that can alter a reported pension expense.
- Recognize the nature of an asset retirement obligation.
- Recall how a warranty reserve can be manipulated.
- Recognize the actions that can be taken to create a misleading statement of cash flows.
- Specify which cash flow presentations can overstate the amount of operating cash flow.
- Recall the risks that can arise in intercompany accounting.
Level: Overview
Instructional Method: QAS Self-Study
NASBA Category: Auditing
Prerequisites: None
Advance Preparation: None
Latest Review Date: May 2026
Program Registration Requirements: Click on the Enroll button to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.
Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.