Forensic accounting as an eesay with 5 paragraphs Chapter 1

Forensic accounting

as an eesay with 5 paragraphs

Chapter 1, Case 32

Using the Internet, learn how Xerox pumped up its earnings.

Solution

Forensic Accounting :

Defination : This mode of accounting is used to find out a fraud or theft . This is used to provide evidence for a given transaction is done as per the leagl terms or not. There are 2 kinds of approach to forensic accounting :

Forensic Accountings Applications:

Forensic Accounting Procedure :

Forensic Accounting Services :

Conclusion :

The pratice of preventive measures are more usefull than reactive measures. Forensic auditing becomes a effective and more reliable as it holds all accounting transactions. Creating awareness of organization behavior, knowlegde of the system adn fraud so commited.these are known as RED flags issues.

Xerox has pumped up earnings from cusihion reserves and through journal entries. Xerox has donen financial reporting huge share on incomes and other profitable ventures. Cooperation from the internal auditors of the system has raised its income and reducing the tax amounts that has to be paid to the government.