Illegal acts undermine profit of private and governmental entities. Auditors could come across with fraudulent situations, however, forensic accountants or Certified Fraud Examiners (CFEs)should take over an investigation to uncover wrongdoing.

Managerial accounting is a valuable tool for decision-making. It involves non-monetary data and qualitative elements along with financial information.

The trial balance provides the basis por making draft financial statements. This article spells out errors that may affect the trial balance. Correct them always by making entries that leave an audit trail.

The indirect method is the most widely used.The direct method is call income statement method while the indirect method is called the reconciliation method.

These examples and summary will help you to gain a better understanding of both the direct and indirect method.

Former CEO, CFO, and other top officers of a corporation were accused of falsifying the company’s financial records in order to inflate the organization revenue so that the company would meet analysts’ financial projections.

Forensic Accounting is plenty of opportunities for accountants. Take advantage of these opportunities by learning how crooks commit fraud. My newsletter will bring you information up to date.

Greed knows no limits. A former dermatologist performed more than 800 surgeries to patients that were falsely diagnosed with skin cancer. Forensic accountants play an important role in determining the extent of economic losses in cases such as the ones described in this article.

Money laundering schemes are on the rise. Forensic accountants play an important role investigating ill-gotten gains. Human trafficking and particularly sex slavery generate billions that need to be cleaned. Money laundering undermines safety across the globe.

This final Rule represents an effort to re-gain public confidence. Accountants should be ready for its application.