The Association of Certified Fraud Examiners (ACFE) fraud tree categorizes types of fraud schemes into three areas:
- Corruption
- Asset Misappropriation
- Financial Statement (FS) Fraud
Previous courses have addressed corruption and asset misappropriation. This course focuses on the areas of financial statement fraud related to revenue. Revenue processes can be complicated and provide an inherent opportunity for inappropriate activity.
Financial Statement fraud is the deliberate misrepresentation of the financial condition of an enterprise. It is accomplished through intentional misstatement or omission of amounts or disclosures in the FS to deceive financial statement users. According to the ACFE’s Report to the Nation, in 2016, financial statement fraud comprised 9.6% of cases with a median dollar loss of $975,000. The typical duration of financial statement fraud prior to detection is 24 months.
There are numerous methods under which revenue should be recognized. Accordingly, there are numerous ways perpetrators try to side-step the process and override the proper revenue recognition requirements. Financial personnel must remain vigilant and understand the types of financial frauds that can be perpetrated in their company.
Note: Information within this course comes from readily available public domain documents and is utilized by the trainer as a supplement for relaying the course content.
- Teacher: noor data
SKU *: crs-1640570
Sell price $: 48.00
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Course Short Description:
This course focuses on the areas of financial statement fraud related to revenue.
credit Hours: 0
CPE Credits Awarded *: 2
Approval Status: - None -
Course is for: ** Main Course Library **
Course Duration: 2
Complexity of Content: Intermediate
Suppress in lists: No
Last Updated/Reviewed Date: March 20, 2024
Prerequisitses:
No Advanced Preparation or Prerequisites are needed for this course. However, it is recommended to take the other courses in the series prior to completing this one.
Learning Objective:
- Explore the meaning of financial statement fraud.
- Discover the concept of revenue recognition fraud.
- Explore frauds and mitigating procedures related to fictitious customers.
- Explore cases and mitigating factors for round-tripping, consignment sales and channel stuffing.
- Discover revenue frauds created by special term agreements including up-front fees, side agreements and promotional allowances.
- Explore mitigating procedures for special term agreements.
Course Type: CPE Course
Format: On Demand
Audit & Accounting: No
Careers: No
Ethics (NASBA): No
Excel: No
Finance: No
Human Resources (HR): No
Internal Audit: No
Leadership & Management: No
Marketing: No
Operations: No
Productivity & Tech: No
Risk Management: Yes
Sales: No
Tax: No
Field of Study: Auditing
Other: No
CPA: Yes
CPD-IES7: No
CPD-IES8: Yes
CMA: Yes
CFE: Yes
Yellow Book: Yes
CGFM: Yes
CIA: Yes
CRMA: Yes
CPP: No
FPC: No
CTP: No
FP&A: No
CISM: No
CRISC: No
CISA: No
CIST: No
CRFS: No
SHRM-CP: No
SHRM-SCP: No
PHR: No
SPHR: No
GPHR: No
aPHR: No
PHRca: No
PHRi: No
SPHRi: No
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CPE Credits: 2
Field of Study: Auditing
CPE Delivery Method: QAS Self-Study
Program Location:
Online
*Program Level: Basic
*Prerequisites:
No advanced preparation or prerequisites are required for this course.
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Hours: 2
Field of Study: Auditing
CPE Delivery Method: QAS Self-Study
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CPE Credits: 2
Field of Study: Auditing
CPE Delivery Method: QAS Self-Study
Program Location:
Online
*Program Level: Basic
*Prerequisites:
No advanced preparation or prerequisites are required for this course.
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CPE Credits: 2
Field of Study: Financial Transactions and Fraud Schemes
CPE Delivery Method: QAS Self-Study
Program Location:
Online
*Program Level: Basic
*Prerequisites:
No advanced preparation or prerequisites are required for this course.
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CPE Credits: 2
Field of Study: Audit Methodologies
CPE Delivery Method: QAS Self-Study
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*Program Level: Basic
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CPE Credits: 2
Field of Study: Other
CPE Delivery Method: QAS Self-Study
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Field of Study: Auditing and accounting
CPE Delivery Method: QAS Self-Study
CPE Credits: 2
Program Location:
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*Program Level: Basic
*Prerequisites:
No advanced preparation or prerequisites are required for this course.
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CPE Credits: 2
Field of Study: Control theory and application
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*Program Level: Basic
*Prerequisites:
No advanced preparation or prerequisites are required for this course.
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<td align="left" valign="middle"><span style="font-size:10px;font-weight:normal;">This activity, <span style="font-size:12px;font-weight:bold;">ID No. 19 ILL 000</span> has been approved for 1.0 Recertification Credit Hour(s) toward CPP recertification through the American Payroll Association (APA). Please make note of the Course Code on your CPP Recertification Log. For more information about certification or recertification, please visit the APA website at <a href="http://www.americanpayroll.org/certification/recertification/">www.americanpayroll.org</a>. </span></td>
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No advanced preparation or prerequisites are required for this course.
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<td align="left" valign="middle"><span style="font-size:10px;font-weight:normal;">This activity, <span style="font-size:12px;font-weight:bold;">ID No. 000000</span> has been approved for 1.0 HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). Please make note of the activity ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at <a href="https://www.hrci.org">www.hrci.org</a>. </span></td>
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<td align="left" valign="middle"><span style="font-size:10px;font-weight:normal;">This activity, <span style="font-size:12px;font-weight:bold;">ID No. 000000</span> has been approved for 1.0 HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). Please make note of the activity ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at <a href="https://www.hrci.org">www.hrci.org</a>. </span></td>
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<td align="left" valign="middle"><span style="font-size:10px;font-weight:normal;">This activity, <span style="font-size:12px;font-weight:bold;">ID No. 000000</span> has been approved for 1.0 HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). Please make note of the activity ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at <a href="https://www.hrci.org">www.hrci.org</a>. </span></td>
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<td align="left" valign="middle"><span style="font-size:10px;font-weight:normal;">This activity, <span style="font-size:12px;font-weight:bold;">ID No. 000000</span> has been approved for 1.0 HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). Please make note of the activity ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at <a href="https://www.hrci.org">www.hrci.org</a>. </span></td>
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<td align="left" valign="middle"><span style="font-size:10px;font-weight:normal;">This activity, <span style="font-size:12px;font-weight:bold;">ID No. 000000</span> has been approved for 1.0 HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). Please make note of the activity ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at <a href="https://www.hrci.org">www.hrci.org</a>. </span></td>
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