October 2013
Beginner
544 pages
20h 52m
English

EXHIBIT 12-1
After studying this chapter, you should be able to:
| 12-1 | Define financial statement fraud and related schemes |
| 12-2 | Understand and identify the five classifications of financial statement fraud |
| 12-3 | Explain how fictitious revenues schemes are committed, as well as the motivation for, and result of, committing such fraud |
| 12-4 | Explain how timing difference schemes are committed, as well as the motivation for, and result of, committing such fraud |
| 12-5 | Describe the methods by which concealed liabilities and expenses are used to fraudulently improve a company's balance sheet |
| 12-6 | Understand how improper disclosures may be used to mislead potential investors, creditors, or other users of the financial statements |
| 12-7 | Recognize how improper asset valuation may inflate the current ratio |
| 12-8 | Identify detection and deterrence procedures that may be instrumental in dealing with fraudulent financial statement schemes |
| 12-9 | Understand financial statement analysis for detecting fraud |
| 12-10 | Identify and characterize current professional and legislative actions that have sought to improve corporate governance, enhance the reliability and quality of financial reports, and foster credibility and effectiveness of audit functions |
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