Fraud triangle Study guides, Class notes & Summaries

SAS13 midterm 1: Winter 2024 Questions with 100% Correct Answers Robert Koch - Answer--Grandfather of microbiology!! -Created Koch's Postulates to definitively prove that microorganisms caused a disease -Furthered germ theory of disease -Foundational in pure cultures of microbes -Discovered the microbe causing tuberculosis - developed a "cure" based on tuberculin for TB but it was not effective in treating it (could actually kill people bc of the inflammatory response) hedwig koch - ...

CFA level 1 Exam Questions with Correct Answers Payables turnover = COGS/avg payables = 1969/(361+346)/2 = 5.57 Days in payables = 365/payables turnover = 65.6 CCC = DOH +DSO - Days in Pay = 49.4+39.4-65.6=23.2 - Answer-find the cash conversion cycle sales COGS Interest 123 110 Cash 108 105 receivables 318 286 inventories 248 285 Payables 361 346 notes payable 50 99 the deferred tax liability equals the difference between the value for accounting and tax purposes times t...

faithful representation, substance over form, prudence, neutrality, completeness - According to the IFRS what are the 5 qualities of financial information that improve reliability Costs can be reliably measured - According to IFRS what condition must be met for revenue recognition to occur? Current ratio will decrease. Accruing wages increases both current liabilities and expenses, but collecting receivables has no effect on current assets or sales therefore the current ratio and net incom...

Accounting Information Systems, 13e (Romney/Steinbart) Chapter 3 Systems Documentation Techniques 3.1 Prepare and use data flow diagrams to understand, evaluate, and document information systems. 1) Graphical representations of information are often supplemented by A) narrative descriptions. B) relevant e-mail communications. C) logic charts. D) oral descriptions from management. Answer: A Objective: Learning Objective 1 Difficulty: Easy AACSB: Analytic 2) All of the...

Certified Fraud Examiner (CFE) set 1 from ACFE Rated A+ According to The Institute of Internal Auditors' International Standards for the Professional Practice of Internal Auditing, due professional care implies infallibility. A. True B. False ️False Which of the following is TRUE regarding organizational structure? A. Companies with departments that are isolated geographically have a reduced risk of fraud B. The existence of many specialized departments within a company genera...

SAS13 midterm 1: Winter 2024 Questions With Complete Solutions Robert Koch - answer-Grandfather of microbiology!! -Created Koch's Postulates to definitively prove that microorganisms caused a disease -Furthered germ theory of disease -Foundational in pure cultures of microbes -Discovered the microbe causing tuberculosis - developed a "cure" based on tuberculin for TB but it was not effective in treating it (could actually kill people bc of the inflammatory response) hedwig koch - ans...

ACCT 561 Final Exam Which of the following situations represents a risk factor that relates to misstatements arising from misappropriation of assets? Correct answer- b) lack of independent checks What outside parties must the auditor disclose the existence of fraud to? Correct answer- The SEC when client reports an auditor change, a successor auditor when they inquire, governmental agencies financially assisting client Which of the following procedures would least likely result in...

1. Research has shown that ______ detect most frauds. a. Auditors b. Customers c. Vendors d. Employees ANSWER: d FEEDBACK: a. Incorrect. Auditors usually detect fraud when there are red flags in the financial statements. Usually by this time the fraud is large. b. Incorrect. Customers can also detect fraud, but they are not the most effective resource. c. Incorrect. Vendors can also detect fraud, but they are not the most effective resource. d. Correct. Emplo...

The fraud triangle plus inquiry paradigm is an effective way to understand the various types of investigative methods. - ANSWER-True One advantage of using a vulnerability chart is that it forces investigators to consider all aspects of a fraud. - ANSWER-True Electronic surveillance if often of limited value in the investigation of employee fraud because of concerns regarding employees' privacy rights - ANSWER-True Surveillance is a theft investigation technique that relies on the exam...

Congestive Heart Failure - ANSWER-A chronic condition in which the heart doesn't pump blood as well as it should. Hypertension - ANSWER-A condition in which the force of the blood against the artery walls is too high. HEDIS - ANSWER-Healthcare Effectiveness Data and Information Set HIPAA - ANSWER-Health Insurance Portability and Accountability Act MPFS - ANSWER-Medicare National Physician Fee Schedule Multiple procedure rule - ANSWER-The highest value code is paid at 100%. The se...