Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
10 Cards in this Set
- Front
- Back
|
Rationalization |
Element of fraud triangle that might note, "I'll pay the money back. They really owe it to me." |
|
|
Financial statement from |
Most costly classification of fraud |
|
|
COSO |
Committee of Sponsoring Organizations - a voluntary, private-sector organization dedicated to improving the quality of financial reporting |
|
|
Three components of the fraud triangle |
opportunity, motive and rationalization |
|
|
Cookie jar reserves |
Unrealistic estimates of liabilities that creates stockpiles of accurals to be used in times of financial instability |
|
|
Creative acquisition accounting |
Classification of accusition cost as in process research and development so they can be written off as one time charges in the future to remove earnings drag. |
|
|
Big bath restructuring charges |
When companies overstate restructuring charges to clean up the balance sheets with a big bath possibly inflate earnings going forward |
|
|
Asset misappropriation |
Most common classification of fraud |
|
|
Occupational fraud and abuse |
The use of one's occupation for personal enrichment through the deliberate misuse of misapplication of the employing organization's resources or assets |
|
|
Sarbanes Oxley |
Requires that CEOs and CFOs certify the disclosure made in specific financial reports |
