The Complete Guide to Spotting Accounting Fraud & Cover-ups

The Complete Guide to Spotting Accounting Fraud & Cover-ups

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In 2009, high-profile fraud cases like the Ponzi schemes of Bernard Madoff and Arthur Nadel vividly illustrated the harm done to investors who placed their trust in these apparently successful money managers and then discovered their money had never been invested at all. News stories featured 90-year-olds forced by necessity to work in supermarkets, elderly people losing their homes because their life savings were gone, and wealthy retirees suddenly unable to pay their electricity bills. Charities were forced to curtail their services, lay off staff, and even close their doors forever as their funds evaporated. Almost every day, there are stories in the media about dishonest employees who have robbed their organizations of hundreds of thousands of dollars. Not so well-publicized are the countless smaller thefts occurring every day from cash registers, warehouses, and business bank accounts. Sadly, the organizations that have the most to lose a€” small businesses, family-run companies, churches, and charities a€” are often the most vulnerable because of their size and inexperience. According to the Association of Certified Fraud Exaiminers, accounting fraud cost more than $994 billion in 2008, and the average organization lost 7 percent of its total revenue to fraud. How can you prevent this from happening to you as an investor, business owner, or a person attempting to acquire or merge with another firm? Read The Complete Guide to Spotting Accounting Fraud a Cover-Ups and you will be able to understand, detect, and avoid accounting fraud. You will learn how to identify fraud, how to spot minor abnormalities that may hide fraud, how to spot forgeries, and how to prove your case, as well as what to immediately suspect and methods for uncovering scams. You will know what signs to look for, including excessive turnover of lawyers and auditors, changing professionals in the middle of a transaction, inconsistent information, and significant declines in stock prices. In addition, you will know how to recognize the common maneuvers, earnings manipulation, premature and fictitious revenue, overvalued assets, undervalued liabilities, bogus revenue, expenses that have been shifted to another period, overstating revenues, understating expenses, and the misuse and misdirecting of funds. This new book is filled with studies and discussions of fraud cases and how they could have been avoided, checklists for detecting accounts misdeeds, and advice from analysts, CFOs, and CPAs. This manual will be an indispensable aid for serious investors, industry pros, acquisition and merger managers, and small business owners alike. After reading this book you will no longer have to worry about accounting fraud and you can increase your companya€™s profits.Banks Helped Enron to Generate Fictitious Revenue The bankruptcy ofEnron, one ofthe worlda#39;s leading energyand ... the University of California, the lead plaintiffin the Enron shareholders lawsuit, filed a 485page consolidated complaint in the U.S. ... J.P. MorganChase, Citigroup, MerrillLynch, Credit Suisse First Boston, Canadian Imperial Bank of Commerce (CIBC), ... clandestinely controlled Enron partnerships, used offshore companies to disguise loans, and facilitated sham sales ofanbsp;...


Title:The Complete Guide to Spotting Accounting Fraud & Cover-ups
Author:Martha Maeda
Publisher:Atlantic Publishing Company - 2010
ISBN-13:

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