There are two common causes of business and accounting fraud: • A failure of individual character • A culture of greed or ethical indifference within an organization Required: Write a brief memo describing how these two factors could lead to accounting fraud.
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A: a. The type of fraud that took place, in this case, is Misappropriation of assets. In this Case,…
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A: So an opportunity to commit any fraud in an organization is a chance provided by the environment to…
Q: causes of business and accounting fraud
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Q: Accounting fraud is the intentional manipulation of financial statements to create a false…
A: Meaning of Accounting Fraud: Accounting fraud refers to intentional manipulation of financial…
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A: Collusion means agreement between two or more people for some wrongful deed particularly for a…
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A: Fraudulent financial reporting: Fraudulent financial reporting refers to manipulations of income…
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A: Accounting fraud: It is basically manipulating the financial statements intentionally in order to…
Q: What category does inventory related fraud fall into?
A: Inventory fraud refers to the fraud related to the theft of the physical items of inventory as well…
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A: Securities Fraud is a fraud which is considered as serious while collar crime where investors are…
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A: EXPOSURE: It refers to the experiencing something , or being affected by it. 1)Exposure is a English…
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A: Fraud refers to an act which is committed intentionally by one person which results in financial…
Q: The fraud triangle asserts that the following three factors must exist for a person to commit…
A: Fraud triangle: It is the model which is created to explain about those three factors because of…
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A: Fraud: Fraud is the act of deliberately conducting false reporting of facts, to acquire funds or…
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A: Auditing- Auditing is the independent review of financial data from any company, regardless of size…
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A: SOLUTION ETHICAL VALUES WHICH SERVE TO DISTINGUISH BETWEEN GOOD OR BAD , RIGHT OR WRONG AND MORAL…
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A: A fraud in an audit is an activity performed with the intent of deceiving the users of the financial…
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A: Internal control: Internal control as defined by the Committee of Sponsoring Organizations of the…
Q: plain the three special characteristics of management fraud: a. The fraud is perpetrated at levels…
A: Answer: a. The fraud is perpetrated at levels of management above the one to which internal control…
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A: Fraud:- It is an offensive crime that intentionally employees do and manipulate the company…
Q: Identify one specific type of accounting fraud. What damage does the perpetration cause? What could…
A: An accounting fraud refers to frauds originating from within the business (internal frauds). The…
Q: Fraud refers to any intentional act to achieve gain, usually monetary. Committing a fraud is…
A: Auditing refers to the art of inspecting and investigating financial accounts of a company. It is…
Q: What is the business cycle in the accounting information system?
A: "Hey, since there are multiple questions posted, we will answer the first question. If you want any…
Q: All companies are vulnerable to fraud, but small businesses are particularly vulnerable. Why do you…
A: Vulnerability to Fraud =Vulnerability to fraud is how company is exposed to the possibility of being…
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- Ma1. Question 11. Which of the following is not a catetory found in the Content Pane of Dynamics GP? Options: A.Cards B.Inquiry C.Print D.Reports Question 12. The typical size of a business that is most likely to use MS Dynamics GP is options: A.Fewer than 50 employees B.250-500 employees C.2500 - 5000 employees D.More than 5000 employees Question 13. Which of the following features allows you to view information about a customer and then begin entering an invoice for that customer? options: A.Lists B.Reports C.Inquiry D.SmartLists Question 14. Which of the following statements is not true regarding the Navigation Pane? options: A.You can choose not to show specific series/functions on the Navigation Pane B.You can change the order in which series/function areas appear on the Navigation Pane C.If you hide a series/function so it doesn’t appear on the Navigation Pane, it is removed from your Dynamics GP system D.It can be hidden in order to make the Content area larger…(This is about Accounting Information System.) 1. Distinguish between ethical issues and legal issues. 2. When a company has a strong internal control structure, stockholders can expect the elimination of fraud. Comment on the soundness of this statement. 3. Distinguish between employee fraud and management fraud. 4. Discuss the Sarbanes-Oxley Act. Please provide me a correct answer and PLEASE ANSWER ALL THE QUESTIONS NOT JUST ONE QUESTION. Thank you!Y6 ACCT 361:Ethical, Fraud, and Legal Issues for Accountants: Evaluate investor fraud through a case study on a Ponzi Scheme. Research Madoff Ponzi Scheme. Please only own words!!! At a minimum, the report should discuss the background of the case, what factors led to the fraud, what specific fraud occurred, what was the effect on investors and creditors, what was the effect on company employees, what was the effect on the individuals that perpetrated the fraud, what was the effect on the investment and regulatory markets, how was the audit firm associated with the company affected by the fraud, what could have been done to prevent the fraud, and how did this case affect your views/opinions. PLEASE ONLY OWN WORDS!!!
- don't use ai , chat gpt , bartlby, course for answer i will definitely 7 dislike O d. $30 O e $6 Which one of the following statements is not correct regarding financial accounting and management accounting? O a. Financial accounting reports need to be audited to verify their accuracy unlike management accounting reports whic do not need to be audited. O b. Only financial accounting involves the use of accounting information. None of the given answers JIm O d. Financial accounting needs to follow specific set of rules called accounting standards unlike management accountrig e. Management accounting information emphasize supporting decisions that affect the future unlike financial accountin information, which focus on the consequences of past activities of the organization. GE NEXT PAGE(This is about Accounting Information System.) 1. Distinguish between ethical issues and legal issues. 2. When a company has a strong internal control structure, stockholders can expect the elimination of fraud. Comment on the soundness of this statement. 3. Distinguish between employee fraud and management fraud. 4. Discuss the Sarbanes-Oxley Act. Please provide me a correct answer. Thank you!(a): Critically discuss the statement that, when a company has a strong internal control structure, shareholders can expect elimination of fraud. (b): In this age of high technology and computer-based information systems, why are accountants concerned about physical (human) controls? topic is belong to AIS, book editor Hall, ch 3, hope to hear your reply with expert answer, thank you!
- a. State the processes/steps to be performed for each of the following in Tally.ERP 9: Creation of ledgers Creation of groups/accounts heads Viewing list of accounts groups created Verify ledger accounts Creation of a new voucher type Creation of stock categories Creation of stock items Viewing ageing analysis reports Altering a voucher type Creation of a stock group b. Jobel Company Limited, an insurance brokerage firm, has been posting huge financial losses since the outbreak of the COVID-19 pandemic. The company is in the process of filing for bankruptcy due to the consistent fall of its share price, a situation solely attributable to the COVID-19 pandemic. At the last shareholders’ meeting before the pandemic, members voted massively for the introduction of a computerised accounting information system (CAIS) to automate the operations of the company. However, the key management members are clueless as to the key motivating considerations…An IT auditor is conducting data analysis procedures on an employee expense report file and notices several expenses for $24.99 from the same individual. The company’s policy requires that any expenses that are under $25.00 do not require a receipt. The IT auditor should: [SELECT ALL THAT APPLY a) Maintain professional skepticism and investigate these transactions further b) Pass on investigating these items further, focusing on higher dollar amounts c) Evaluate the business process approval controls, and related procedures d) Discuss fraud awareness and detection programs with management to gain an understanding of management’s commitment to fraud prevention and related entity-level anti-fraud controls.ZYNGA (LO Z 3, 4, 5, 6, 8) Refer to the Why It Matters feature “How to Account for Virtual Sales at Zynga.” a. What are the inherent risks associated with the revenue transactions at Zynga? b. What are management’s incentives to fraudulently misstate revenue transactions? c. What controls should Zynga management have in place to mitigate the risks associated with revenue transactions? d. How might auditors use planning analytical procedures to identify any potential concerns with Zynga’s revenue? e. What might be considered sufficient appropriate evidence when auditing Zynga’s revenue transactions?
- Indicate whether each of the following statements is true or false. Section 302 of Sarbanes-Oxley requires the CEO and CFO to review all financial reports and sign the reports. One of the three questions put forth by the Institute of Business Ethics is Do I mind others knowing what I have done? Ethical issues may be faced on a small scale, such as making a business decision to produce excess inventory for the sole purpose of trying to influence managers bonuses. A manager who spends excess budgeted funds remaining at the end of a fiscal year on unnecessary expenditures thinking that it is better to use it than lose it is acting ethically. The Foreign Corrupt Practices Act was implemented in 2001 to protect investors by enhancing the accuracy and reliability of corporate financial statements and disclosures.CONDUCTING A FINANCIAL RATIO ANALYSIS ON HP INC. Use online resources to work on this chapters questions. Please note that website information changes over time, and these changes may limit your ability to answer some of these questions. In Chapter 3, we looked at Dunkin Brands financial statements. In this chapter, we will use a financial Internet website, www.morningstar.com, to analyze HP Inc., a computer hardware company. Once on the website, you simply enter HP Inc.s ticker symbol (HPQ) to obtain the financial information needed. We will also perform a trend analysis, where we evaluate changes in key ratios over time. Through the Morningstar website, you can find the firms financials (Income Statement, Balance Sheet, and Cash Flow) on an annual or quarterly basis for the five most recent time periods. In addition, the site contains Key Ratios (Profitability, Growth, Cash Flow, Financial Health, and Efficiency) for 10 years. We will use the Key Ratios on this site to conduct the firms trend analysis. (At the bottom of the screen you will see that you can click Glossary to find definitions for the different ratios. For example, Morningstars Financial Leverage ratio is the same as the Equity multiplier that we use in the textbook.) Looking at Morningstars Financial Health ratios, what has happened to HPs liquidity position over the past 10 years?CONDUCTING A FINANCIAL RATIO ANALYSIS ON HP INC. Use online resources to work on this chapters questions. Please note that website information changes over time, and these changes may limit your ability to answer some of these questions. In Chapter 3, we looked at Dunkin Brands financial statements. In this chapter, we will use a financial Internet website, www.morningstar.com, to analyze HP Inc., a computer hardware company. Once on the website, you simply enter HP Inc.s ticker symbol (HPQ) to obtain the financial information needed. We will also perform a trend analysis, where we evaluate changes in key ratios over time. Through the Morningstar website, you can find the firms financials (Income Statement, Balance Sheet, and Cash Flow) on an annual or quarterly basis for the five most recent time periods. In addition, the site contains Key Ratios (Profitability, Growth, Cash Flow, Financial Health, and Efficiency) for 10 years. We will use the Key Ratios on this site to conduct the firms trend analysis. (At the bottom of the screen you will see that you can click Glossary to find definitions for the different ratios. For example, Morningstars Financial Leverage ratio is the same as the Equity multiplier that we use in the textbook.) Looking at Morningstars Profitability ratios, what has happened to HPs profit margin (net margin %) over the past 10 years? What has happened to its return on assets (ROA) and return on equity (ROE) over the past 10 years?