Financial Accounting and Detecting Fraud Training Course
Accounting, Finance and Budgeting Training
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Financial Accounting and Detecting Fraud Training Course
Course Overview:
The Financial Accounting and Detecting Fraud training course aims to improve Participants’ skills in financial reporting structure appreciation, stylistic practices, and forensic accounting.
The course addresses the issues such as auditors, practitioners, Benford’s Law, and the means of statistical fraud detection and brings a complete picture of detecting and reporting of the fraud in the financial statements.
Participants will know how to detect undue accruals, phantom sales, and inventive capitalization, and how to use forensic techniques to evaluate and investigate finances, and evaluate the possibility of fraud. Perfect for finance practitioners, business risks managers and other decision makers, participants acquire the competencies to thwart, expose, and control financial crimes.
Course Objectives:
At the end of this Financial Accounting and Detecting Fraud Training Course, you will be able to:
- Discuss the structure and foundations of financial reporting
- Be aware of creative accounting and how it can be determined
- Determine the need for forensic accounting by means of case study and other analysis
- Appreciate the nature or Benford’s Law and its increasingly important role in the prevention and detection of fraud
- Discuss the role of the auditor in detecting fraud
- Carrying out a variety of statistical tests on financial reports and accounting data
Who Should Attend?
This Financial Accounting and Detecting Fraud Training Course is ideal for:
- Finance and accounting professionals and those for whom the prevention and detection of fraud is a major issue
- leaders who are in decision-making positions and have little or financial experience.
- Business owners and freelancers.
- Any person who would like to increase their financial understanding will find this comprehensive Course profitable
Course Outlines:
Financial Accounting Review
- Structure of financial reports
- Regulation of financial reporting
- Financial reporting standards
- The Analysis of Financial Reports
- Detecting bias in accounting numbers
- Qualitative analysis: what people say and what they might mean
Creative Accounting
- What is creative accounting and why is it a bad thing?
- Inappropriate accruals, estimates, and excessive provisions
- Identifying premature revenue recognition and fictitious revenue
- Aggressive capitalization
- Creative income statements: classification and disclosure
- Problems with cash flow reporting
Forensic Accounting
- The basics of forensic accounting
- The need for Sarbanes-Oxley
- The going concern concept in greater detail
- Cases in which forensic accounting was used
- Off balance sheet finance
- Introduction to Benford’s Law
The role of the auditor and detecting fraud
- The Role of the Auditor in the Prevention and Detection of Fraud
- Deterring Fraud – The fraud triangle
- The COSO “Internal Control – Integrated Framework,” (COSO Model)
- 20 ways to detect fraud
- Identifying fraud using time series analysis
- Fraud risk assessments
Tools for Detecting Fraud
- Further Statistical Analysis of accounting and other data
- Further application of Benford’s Law
- Chi Square and Kolmogorov Smirnoff Tests
- Mean Absolute Deviation test
- Mantissa Arc Test
