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| Author : | Kelen Camehl, CPA, MBA |
| Course Length : | Pages: 121 ||| Word Count: 52,454 ||| Review Questions: 24 ||| Final Exam Questions: 40 |
| CPE Credits : | 8.0 |
| IRS Credits : | 0 |
| Price : | $71.95 |
| Passing Score : | 70% |
| Course Type: | NASBA QAS - Text - NASBA Registry |
| Technical Designation: | Technical |
| Primary Subject-Field Of Study: | Auditing - Auditing for Course Id 2881 |
| Overview : |
1. Who is this course for? This course is designed for anyone needing Continuing Professional Education (CPE), particularly CPAs, accountants, auditors, and other financial professionals who want to strengthen their ability to identify financial statement and cash flow manipulation. 2. What is this course about or what problem does this course solve? This course examines how companies manipulate financial statements, disclosures, and cash flow reporting through schemes involving revenue inflation, expense and liability understatement, asset and equity mismanagement, misleading disclosures, cash flow classification tactics, timing strategies, and transaction structuring, helping participants detect fraud and reporting irregularities. 3. Where can the knowledge from this course be used? The knowledge from this course can be applied in auditing engagements, financial statement analysis, fraud detection activities, internal controls evaluation, financial reporting reviews, and oversight of corporate financial disclosures and cash flow reporting. 4. Why is this course important to a CPA or Accountant? This course is important because it helps CPAs and accountants recognize fraud indicators, identify misleading financial reporting practices, evaluate cash flow manipulation techniques, and improve the reliability and transparency of financial reporting. 5. When is this course relevant or timely? This course is relevant whenever professionals are auditing financial statements, reviewing cash flow information, assessing financial reporting risks, investigating potential fraud, or evaluating the quality and transparency of corporate disclosures. 6. How is a course like this consumed or used? This QAS self-study text course is completed independently through course materials and review questions, and participants must pass the 40-question final examination with a score of at least 70% within one year of purchase to earn 8.0 CPE credits. |
| Description : |
This course explores how companies can manipulate financial statements and cash flow to mislead stakeholders. It covers schemes such as inflating revenue, understating liabilities, mismanaging assets, and misreporting disclosures. Participants will also learn how cash flow can be distorted through classification and timing tactics, transaction structuring, prepayments, and other arrangements. The course highlights disclosure and presentation strategies, including selective narratives and non-GAAP measures, helping auditors recognize red flags and improve transparency in financial reporting. |
| Usage Rank : | 0 |
| Release : | 2026 |
| Version : | 1.0 |
| Prerequisites : | None. |
| Experience Level : | Overview |
| Additional Contents : | Complete, no additional material needed. |
| Additional Links : |
Internal: Financial Statement Fraud Key Schemes and Detection
Internal: Detecting Financial Statement Fraud Revenue Earnings and Expense Manipulation
External: How to Identify Financial Statement Fraud: Key Signs and Methods
External: Financial Statement Manipulation
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| Advance Preparation : | None. |
| Delivery Method : | QAS Self Study |
| Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
| Revision Date : | 08-Jun-2026 |
| 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 - 2881 |
| Keywords : | Auditing, Fraud, Exposed, Statement, Tricks, Cash, Flow, Manipulation, cpe, cpa, online course |
| Learning Objectives : | Chapter 1 Revenue and Earnings Manipulation Learning ObjectivesUpon completion of this chapter, you will be able to:
Chapter 2 Expense and Liability Fraud Learning ObjectivesUpon completion of this chapter, you will be able to:
Chapter 3 Asset and Equity Mismanagement Learning ObjectivesUpon completion of this chapter, you will be able to:
Chapter 4 Disclosure and Reporting Fraud Learning ObjectivesUpon completion of this chapter, you will be able to:
Chapter 5 Classification-Based Cash Flow Manipulation Schemes Learning ObjectivesUpon completion of this chapter, you will be able to:
Chapter 6 Timing-Based Cash Flow Manipulation Techniques Learning ObjectivesUpon completion of this chapter, you will be able to:
Chapter 7 Transaction Structuring to Inflate Operating Cash Flow Learning ObjectivesUpon completion of this chapter, you will be able to:
Chapter 8 Disclosure and Presentation Techniques Learning ObjectivesUpon completion of this chapter, you will be able to:
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| Course Contents : | Chapter 1 - Revenue and Earnings Manipulation Chapter Overview Learning Objectives Introduction Non-Recurring Items Detecting Improper Use of Non-Recurring Items Overstating Deferred Revenue Common Mistakes in Deferred Revenue Intentional Mistakes in Deferred Revenue Detecting Intentional Misstatements in Deferred Revenue Backdating Transactions Detecting Backdating Fraudulent Journal Entries Detecting Fraudulent Journal Entries Conclusion Review Questions Chapter 2 - Expense and Liability Fraud Chapter Overview Learning Objectives Introduction Misclassifying Financial Statement Items Improper Use of Reserves Misrepresenting Lease Classifications Structuring Transactions to Avoid Regulatory or Accounting Thresholds Conclusion Review Questions Chapter 3 - Asset and Equity Mismanagement Chapter Overview Learning Objectives Introduction Manipulating Depreciation or Amortization Schedules Related Party Transaction Fraud Creating Shell Companies for Fraudulent Transactions Manipulating Stock Option Accounting Conclusion Review Questions Chapter 4 - Disclosure and Reporting Fraud Chapter Overview Learning Objectives Introduction Failure to Consolidate Related Entities Failure to Disclose Contingent Liabilities Misreporting Foreign Currency Gains or Losses Misleading Disclosures Best Practices for Ethical Financial Reporting Conclusion Review Questions Chapter 5 – Classification-Based Cash Flow Manipulation Schemes Chapter Overview Learning Objectives Introduction Reclassifying Financing Inflows as Operating Cash Flow Supplier Finance & Reverse Factoring Receivables Factoring Classification Issues Conclusion Review Questions Chapter 6 – Timing-Based Cash Flow Manipulation Techniques Chapter Overview Learning Objectives Introduction Accelerating Cash Inflows Delaying Cash Outflows Window Dressing Strategies Conclusion Review Questions Chapter 7 – Transaction Structuring to Inflate Operating Cash Flow Chapter Overview Learning Objectives Introduction Contract Structuring for Cash Flow Appearance Third-Party and Related-Party Transaction Engineering Prepayments, Deposits, and Structured Settlements Red Flags Conclusion Review Questions Chapter 8 – Disclosure and Presentation Techniques Chapter Overview Learning Objectives Introduction Narrative Disclosure Techniques Aggregation and Line-Item Presentation Non-GAAP Liquidity Measures Conclusion Review Questions Glossary of Key Terms |
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