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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: |
Text |
Technical Designation: |
Technical |
Field Of Study: |
Accounting |
Approved Audience: |
NASBA QAS - NASBA Registry |
Key Takeaways: |
This course explores creative accounting techniques companies use to manipulate financial statements, covering both revenue and expense manipulation and asset and liability misrepresentation.
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Frequently Asked Questions: |
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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: |
93478 |
Release: |
2024 |
Version: |
1.0 |
Prerequisites: |
None. |
Experience Level: |
Overview |
Additional Contents: |
Complete, no additional material needed. |
Additional Links: |
External: What Is Creative Accounting?
Internal: Ethical Financial Reporting: Balance Creativity (Course Id 2331) - “Balancing Creativity and Integrity: Ethical Financial Reporting for CPAs
Internal: Ethical Financial Reporting: Balance Creativity-“Balancing Creativity and Integrity: Ethical Financial Reporting for CPAs
External: Investopedia - Creative Accounting definition and practices
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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. |
Keywords: |
Creative Accounting: Navigating the Grey Areas of Financial Reporting - CPE course for CPAs |
Learning Objectives: |
Course Learning Objectives Upon completion of this course, you will be able to:
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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 |
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