This course provides a high-level overview and introduction into the world of the forensic accountant. Most accountants have an understanding of the concept of fraud and how it impacts companies, but many individuals do not have a full comprehension of the variance in the work performed by a forensic accountant versus a typical management accountant.
This course is meant for those individuals interested in understanding the variances in the job tasks and responsibilities of forensic accountants versus typical financial or management accountants. Forensic accountants or auditors take a unique focus on performing their work. Typically, when a person with forensic experience is called in to examine financial records, it is due to suspicion of fraud, evaluation of assets, or even to track down fundamentally incorrect accounting – intentional or not.
As fraud continues to raise its head in business processes, forensic accountants are discovering new and unique ways to identify, examine, and support their hypotheses and investigative techniques. The work performed by a forensic specialist can be interesting and full of potential potholes if evidence isn’t examined according to proper protocols and standards.
DESIGNED FOR
Anyonne responsible for preparing or attesting upon financial statements
BENEFITS
- Describe the importance of proper debt classification and disclosure
- Explain how various common debt terms impact the classification of debt
- Apply illustrative examples to appropriate disclosure of debt terms and circumstances
HIGHLIGHTS
- Debt terms that impact classification of debt, such as due on demand and subjective acceleration clauses, and more!
- Proper treatment of short-term obligations that are expected to refinance within the next 12 months
- "Revolving" credit agreements, where short-term debt is automatically replaced with other short-term debt for a specified period of time
- Differentiating between debt modifications and troubled debt restructuring
- Debt covenant compliance special considerations, including the proper form of waiver of rights to call the debt for violation
PREREQUISITES
None
ADVANCE PREPARATION
None