Forensic Accounting For Dummies

Careers in forensic accounting are hot-US News & World Report recently designated forensic accounting as one of the eight most secure career tracks in America., Forensic accountants work in most major accounting firms and demand for their services is growing with then increasing need for investigations of mergers and acquisitions, tax inquiries, and economic crime. In addition, forensic accountants perform specialized audits, and assist in all kinds of civil litigation, and are often involved in terrorist investigations. Forensic Accounting For Dummies will track to a course and explain the concepts and methods of forensic accounting.

• Covers everything a forensic accountant may face, from investigations of mergers and acquisitions to tax inquiries to economic crime
• What to do if you find or suspect financial fraud in your own organization
• Determining what is fraud and how to investigate

Whether you're a student pursuing a career in forensic accounting or just want to understand how to detect and deal with financial fraud, Forensic Accounting For Dummies has you covered.

Introduction

Part I: Investigating Forensic Accounting 7

Chapter 1: Why the World Needs Forensic Accountants 9

Chapter 2: Steering Your Career toward Forensic Accounting 21

Chapter 3: Getting to Know the Most Common Fraud Schemes 33

Chapter 4: Forensic Accounting Minus the Fraud 51

Part II: The Anatomy of Occupational Fraud 67

Chapter 5: Cooked Books: Finding Financial Statement Fraud 69

Chapter 6: Investigating Inventory Fraud 83

Chapter 7: Examining Revenue Recognition Problems 93

Chapter 8: Studying Securities Fraud 107

Part III: It’s All in the Family: Fraud against Individuals 119

Chapter 9: Divorce with a Side of Fraud 121

Chapter 10: Protecting Estates, Trusts, and the Elderly 133

Chapter 11: Recognizing Real Estate Fraud 143

Part IV: Meeting Your Methods of Investigation 157

Chapter 12: Walking through the Investigation Process 159

Chapter 13: Tracing the Flow of Money 171

Chapter 14: Going to the Source: Obtaining Records 183

Chapter 15: Tapping into Electronic Evidence 199

Chapter 16: Who Wants to Know? Reporting on Your Findings 213

Chapter 17: Preparing for Trial: Business Litigation 227

Chapter 18: Organizing Evidence and Serving as an Expert Witness 243

Chapter 19: Peeking Inside Federal Government Fraud Cases 255

Part V: Preventing Occupational Fraud 271

Chapter 20: Helping Small Businesses Prevent Fraud 273

Chapter 21: Assisting Larger Businesses with Fraud Prevention 289

Chapter 22: Keeping Employees Honest (and Happy) 305

Chapter 23: Applying Technology to Fraud Prevention 315

Part VI: The Part of Tens 329

Chapter 24: Ten Entertaining Portrayals of Fraud 331

Chapter 25: Ten Fairly Common – and Unsuspected – Frauds 337

Chapter 26: Ten Truly Strange Fraud Stories 343

Index 353

Frimette Kass-Shraibman is Associate Professor of Accounting at Brooklyn College — CUNY.

Vijay S. Sampath is Managing Director in the Forensic and Litigation Consulting business segment of FTI Consulting, Inc.

A practical, hands-on guide to forensic accounting

Forensic accountants investigate economic crimes, perform risk assessments, assist in all kinds of civil litigation, and provide expert testimony. If you’re pursuing a career in this exciting field or just want to understand how to detect and deal with financial fraud, this hands-on, friendly guide gives you plain-English explanations of the concepts and methods of forensic accounting.

• Forensic accounting 101 — get the scoop on who seeks out the services of a forensic accountant and the many types of services you’d be expected to provide
• Who’s cooking the books? — discover the types of fraud that take place within a business, from financial statement fraud to inventory fraud
• Can’t always bank on friendship — find out how forensic accountants help victims of fraud perpetuated by friends, family members, neighbors, and business partners
• Put on your investigator’s hat — detect the perpetrators of fraud and their methods by using the latest technology and investigative tools

Open the book and find:

• The most common fraud schemes
• Frauds committed against businesses and individuals
• How to spot and uncover financial statement fraud
• Tips for identifying altered revenue statements
• A detailed look at the litigation process
• Ways to identify electronic scams
• Stories of real fraud cases, some nearly unbelievable
• Job opportunities with the IRS and FBI