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Financial Statement Fraud - Coggle Diagram
Financial Statement Fraud
Financial Statement Fraud
The deliberate misrepresentation of the financial condition of an enterprise
The intentional misstatement or omission of amounts
Disclosures in the financial statements to deceive financial statement users
Five Classifications
Improper asset valuations
Inventory Valuation
Accounts Receivable
Concealed liabilities and expenses
Liability/expense omissions
Improperly capitalized costs
Timing differences
Long-term contracts
Recording expenses in the wrong period
Premature revenue recognition
Improper disclosures
Contingent liabilities
Subsequent events
Management fraud
Related-party transactions
Accounting changes
Accounting principles
Estimates
Reporting entities
Fictitious revenues
Financial Statement Analysis
Horizontal analysis
Ratio analysis
Quick ratio
Debt-to-equity ratio
Current ratio
Asset turnover ratio
Vertical analysis
Typical Forms
Overstated assets or revenue
Understated liabilities and expenses