Deceptive Accounting Practices: Asset & Liability Manipulation
This course explores deceptive accounting practices used by companies to manipulate assets and liabilities. Participants will learn about specific asset manipulation techniques such as overvaluation of inventory, overstating of accounts receivables, valuation of intangible assets, and overstating deferred tax assets. Participants will also learn about liability manipulation techniques such as underreporting liabilities, off-balance-sheet financing, improper use of contingent liabilities, and hiding pension obligations. The course includes detailed examples and highlights the ethical implications and legal consequences of these practices.
Course Information
Price: $24
This course is included in our Mega CPE Subscription.
Course No. CAM015
Format: Online pdf (37 pages). Printed book available.
Prerequisites: None
Advance Preparation:None
Level: Basic
CPE Credit: 2 Hrs.
Field of Study: Accounting: Technical
Course expiration: You have one year from date of purchase to complete the course.
Course Revision Date: November 2024
Objectives
Upon completion of this course, you will be able to:
- Recognize the key motivations behind deceptive accounting techniques
- Identify areas of U.S. GAAP that are most susceptible to manipulation
- Identify techniques used by companies to manipulate asset valuation in financial statements
- Recognize techniques used by companies to conceal or misstate liabilities
Course Contents
U.S. GAAP Susceptible to Deceptive Accounting
Enron & WorldCom
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
simple to go through