FAIR VALUE ACCOUNTING FRAUD - NEW GLOBAL RISKS AND DETECTION TEC

Informationen zum Autor Gerard M. Zack is President of Zack, P.C. and is a nationally recognized expert on accounting, audit, internal control, and fraud issues. He is a regular speaker at AICPA and Association of Certified Fraud Examiner (ACFE) conferences and events, and is the author of Fraud and Abuse in Nonprofit Organizations: A Guide to Prevention and Detection (Wiley). Klappentext Essential guidance on the new fair value rules for accounting managers, auditors, and fraud investigatorsFair Value accounting is emerging as the next prime opportunity for financial statement fraud. Explaining the many complex applications of fair value accounting in the preparation of financial statements, Fair Value Accounting Fraud offers timely guidance on an up-and-coming issue as U.S. and international accounting rules pertaining to the use of fair value accounting continue to change.You'll find discussion of* U.S. GAAP and IFRS rules on fair value accounting issues, highlighting the areas most vulnerable to fraud* Explanations of 75 categories of fair value accounting fraud schemes* Fraud risk checklist that you can put to immediate use* Practical detection techniques useful for auditors, investigators and others who rely on financial statements* Expert advice from Gerard Zack, CFE, CPA, author of Fraud and Abuse in Nonprofit Organizations: A Guide to Prevention and DetectionComparing US accounting standards to International Financial Reporting Standards-thereby making this book useful worldwide- Fair Value Accounting Fraud helps you understand the new rules and develop new auditing and investigative techniques to enable you to detect potential fraud. Zusammenfassung This book will explain the many applications of fair value accounting - in connection with accounting for assets, liabilities, revenue and expenses, as well as fair value disclosures in financial statements. Inhaltsverzeichnis Preface. Acknowledgments. PART I INTRODUCTION TO FAIR VALUE ACCOUNTING FRAUD. CHAPTER 1 Overview of Financial Statement Fraud and Fair Value Accounting. Introduction to Financial Reporting Fraud. What Makes It Fraud? Why Financial Reporting Fraud Is Perpetrated. Using One Fraud to Hide Another. CHAPTER 2 The Use of Fair Value in Financial Statements. Historical Cost versus Fair Value. Sources of Accounting Principles. U.S. GAAP versus IFRS. Fair Value Option Added for U.S. GAAP. Fair Value Defined. International Convergence. Some Principles of Financial Statement Presentation. Effective Dates of Accounting Standards. Impact of Fraud on Financial Statements. CHAPTER 3 Methods of Determining Fair Value. Introduction. Market Approach. Income Approach. Cost Approach. Internal versus Externally Developed Valuations. Inputs to Valuation Methods. Fair Value Guidance under IFRS. Availability of Market Evidence. PART II ASSET-BASED SCHEMES. CHAPTER 4 Investments in Debt and Publicly Traded Equity Securities. Scope of Investments Covered. Sources of U.S. GAAP and IFRS. Classification and Treatment-U.S. GAAP. Classification and Treatment-IFRS. Reclassifications in General. Reclassifications from the Held-to-Maturity Category. Determination of Fair Value. Active versus Inactive Markets. Temporary versus Other-than-Temporary Impairments-U.S. GAAP. Impairment Losses-IFRS. Summary of Fraud Risks. CHAPTER 5 Ownership Interests in Nonpublic Entities. Sources of U.S. GAAP and IFRS. Introduction. Consolidated Financial Statements. Jointly Controlled Entities versus Jointly Controlled Assets. Equity Method Investments. Proportionate Consolidatio...

Product details

• Authors: Zack, Gerard M Zack, Gerard M. Zack, Gm Zack, ZACK GERARD M
• Publisher: Wiley, John and Sons Ltd
• Languages: English
• Product format: Hardback
• Released: 11.09.2009
• EAN: 9780470478585
• ISBN: 978-0-470-47858-5
• No. of pages: 250
• Subject: Social sciences, law, business > Business > Business administration