Ponzi Schemes and Forensic Accountants - Accounting
Sadly many investors have been defrauded again and forensic accountants are busy helping regulators to establish the true scope of the Ponzi scheme that led to investors' losses close to 50 billion. This scandal has undermined the public trust in ... [... more]
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2.Taking Swift Action to Stabilize Financial Markets
The Securities and Exchange Commission has been working hard in coping the financial and economic crisis. Although the actions seem fair given the market conditions, the question remains, why were these measures taken after the fact when the best ... [... more]
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Classification of Cash Flows
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. - Statement of Cash Flows: Direct or Indirect Method - Accounting is a personally written ... [... more]
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Accountants' Professional Shape - Accounting
You could look out of professional shape even if you are a brilliant accountant if you have no clue about bankruptcy proceedings. BM & Crooks, Inc., which was involved in the business of paper brokerage and procurement began experiencing ... [... more]
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Recording Partnerships' Transactions - Accounting
Forensic accountants are called in when conflict between business partners arise to help bring common grounds for an agreement. In executing their duties, forensic accountants may assist in helping attorneys understand the accounting that reflect ... [... more]
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Disregard for or Lack of Internal controls - Accounting
Lack of internal controls is not an option. Losses arise as a result of wrongdoing or fines are imposed to corporations, especially in public companies, when management fails to exercise due care and proper supervision of employees. The ... [... more]
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Enabling Fraud Environments - Accounting
Help your organization avoid being victimized by crooks such as Michelle. Forensic accountants are trained to detect, prevent, and investigate cases occurring in organizations, similar to the case at Brook and Leroy Inc. On November 3, 2008, ... [... more]
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Personal Financial Planners' Challenges - Accounting
In this volatile economy each one of us is confused, not knowing what to do with our investments, savings, if any, and how to maximize our scarce resources. Problems become a great opportunity for those who have a competitive advantage. Certified ... [... more]
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Computer Forensic Terms - Accounting
A list of technical terms commonly used in the field of computer sciences and computer forensics is provided below. Some of the definitions listed here were found in Webopedia, an online resource on the World Wide Web. Some of the words listed ... [... more]
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Statement of Cash Flows - Accounting
The indirect method, in brief, adds back to the net income the non-cash expenses and losses and subtracts the non cash revenues and gains. The indirect method is called the reconciliation method. It reconciles net income for items that did not ... [... more]
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Forensic Accounting - A Weakening Call - Accounting
When crimes of the business world happen, forensic accountants bring into light tactics and tricks used by crooks to deceive naïve and trustful entrepreneurs. Their expertise and knowledge in areas such as finance, accounting, investigative ... [... more]
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Accountants Misusing Key Positions - Accounting
Accountants are suitable for many key positions within or outside organizations. The American Institute of Certified Public Accountants (AICPA) in its AICPA Professional Standards defines a Key Position as follows: This definition is very broad ... [... more]
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