Don’t join the growing list of accounting professionals in trouble. We will discuss: ? The accounting “stories” behind over 40 famous financial statement frauds, such as Fannie Mae, McAfee, Parmalat, Tyco, Waste Management, and WorldCom ? Deceptive accounting practices ? 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
Course ID: DRR
Deceptive Revenue Recognition and Other Accounting Techniques – Recognizing the Warning Signs
- Participants will be able to: ? 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
? Back to the basics-GAAP revisited ? Live cases dealing with improper revenue recognition and other misleading practices ? When is revenue “real” ? Related parties and other off-balance sheet schemes ? Reserves, accruals, writedowns, and asset impairments ? Significant estimates ? Capitalized assets and inventory ? Fair value abuses
DESIGNED FORPractitioners in industry and in public practice.
FIELD OF STUDY