Don’t join the growing list of accounting professionals in trouble. Discuss the accounting “stories” behind more than 40 famous financial statement frauds, such as Fannie Mae, McAfee, Parmalat, Tyco, Waste Management and WorldCom. Hear about deceptive accounting practices and the warning signs of problems in areas such as revenue recognition, related parties, significant estimates, capital items versus expenses, choices among accounting methods, and improper activity to evade taxes.
DESIGNED FOR
Practitioners in public practice and in industry.
BENEFITS
- Identify creative accounting practices used to deceive financial statement users
- Identify those risk characteristics normally associated with fraudulent financial reporting
- Emphasize improper revenue recognition practices and techniques to identify them
HIGHLIGHTS
- Back to the basics - U.S. GAAP revisited
- Live cases dealing with improper revenue recognition and other misleading practices
- Determining when revenue is real
- Related parties and other off-balance sheet schemes
- Reserves, accruals and writedowns, and asset impairments
- Significant estimates
- Capitalized assets and inventory
- Fair value abuses
COURSE LEVEL
Basic
PREREQUISITES
None
ADVANCE PREPARATION
Basic familiarity with accounting standards.
ADDITIONAL NOTES
Course materials will be distributed electronically. To access, visit your
My Events page. Download to your laptop or tablet prior to your seminar. Handouts are added as received.