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Creative Accounting: Navigating the Grey Areas of Financial Reporting (Course Id 2413)

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Author : Kelen Camehl, CPA, MBA
Course Length : Pages: 54 ||| Word Count: 25,572 ||| Review Questions: 12 ||| Final Exam Questions: 20
CPE Credits : 4.0
IRS Credits : 0
Price : $35.95
Passing Score : 70%
Course Type: NASBA QAS - Text - NASBA Registry
Technical Designation: Technical
Primary Subject-Field Of Study:

Accounting - Accounting for Course Id 2413

Accounting, Creative, Accounting, Navigating, Grey, Areas, Financial, Reporting, cpe, cpa, online course
Description :

This course explores creative accounting techniques used by companies to manipulate financial statements. Participants will learn about revenue recognition and expense manipulation, as well as asset and liability misrepresentation. The course includes detailed case studies and examples, highlights ethical implications and legal consequences, and provides audit strategies for detecting and preventing these practices.

Usage Rank : 98750
Release : 2024
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 22-Nov-2024
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - Text - NASBA Registry - 2413

Keywords : Accounting, Creative, Accounting, Navigating, Grey, Areas, Financial, Reporting, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

Upon completion of this course, you will be able to:
  • Recognize the key motivations behind creative accounting techniques
  • Identify areas of U.S. GAAP that are most susceptible to manipulation
  • Identify techniques used by companies to manipulate revenue in financial statements
  • Recognize techniques used by companies to conceal or misstate expenses
  • Identify techniques used to manipulate asset values and liability balances

Course Contents :

Chapter 1 - Creative Accounting: Navigating the Grey Areas of Financial Reporting

Course Learning Objectives

Course Overview

Introduction

Motivations Behind Creative Accounting

U.S. GAAP Susceptible to Creative Accounting

Ethical Implications and Legal Consequences of Creative Accounting

Well Known Case Studies

The Role of Corporate Governance

Discussion of Specific Creative Accounting Techniques

Revenue Recognition Manipulation Techniques

Premature Revenue Recognition

Round-Tripping Transactions

Channel Stuffing

Bill-and-Hold Arrangements

Review Questions

Expense Manipulation Techniques

Capitalizing Expenses

Shifting Expenses

Misclassifying Expenses

Overstating Asset Lives

Review Questions

Asset Manipulation Techniques

Overvaluation of Inventory

Overstating Accounts Receivable

Inflating Fixed Assets

Valuation of Intangible Assets

Overstating Deferred Tax Assets

Review Questions

Liability Manipulation Techniques

Underreporting Liabilities

Off-Balance Sheet Financing

Reclassifying Liabilities

Improper Use of Contingent Liabilities

Using Complex Financial Instruments

Hiding Pension Obligations

Misclassifying Debt as Equity

Conclusion

Review Questions

Glossary of Key Terms

Click to go to: Accounting CPE Courses | Online Accounting Courses for CPAs
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