https://padlet.com/18behml/gfpre19zh55f Accounting 2 Presentation en-us 2018-04-11 18:31:33 UTC 2018-04-30 18:01:17 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Manbag.png 18behml https://padlet.com/18behml/gfpre19zh55f/wish/250876234 According to the Forensic CPA Society, forensic accounting is the, "specialty practice area of accounting that describes engagements that result from actual or anticipated disputes or litigation." What does this mean in layman's terms?
Basically, a forensic accountant goes through financial statements of a company to determine if any fraud or other illegal activities has occurred.]]> 2018-04-11 18:36:37 UTC https://padlet.com/18behml/gfpre19zh55f/wish/250876234 18behml https://padlet.com/18behml/gfpre19zh55f/wish/251292348 Some of the responsibilities that you will have in this career are:
- Investigating and analyzing financial evidence
- Calculating losses due to neglectful financial actions
- Business Valuation
- Testifying in court based on investigation of financial statements and records


]]> 2018-04-12 18:01:07 UTC https://padlet.com/18behml/gfpre19zh55f/wish/251292348 18behml https://padlet.com/18behml/gfpre19zh55f/wish/251304811 No special certification, besides a bachelor's or master's, is necessarily required to become a forensic accountant, but many companies prefer their forensic accountants to have either a CPA or CFE credential. The parts of the CPA exam include:
Auditing & Attestation (AUD)
Financial Accounting & Reporting (FAR)
Regulation (REG)
Business Environment & Concepts (BEC)
The parts of the CFE exam include: 
Fraud Prevention and Deterrence
Financial Transactions
Fraud Schemes
Investigation and
Law.]]> 2018-04-12 18:22:55 UTC https://padlet.com/18behml/gfpre19zh55f/wish/251304811 18behml https://padlet.com/18behml/gfpre19zh55f/wish/251309268 Forensic accounting is becoming a very popular major for college students. Due to "tough economic standings and a higher level of company governance" careers in this field are expected to grow. Some of the top universities at which to study forensic accounting are:
Northeastern, Boston, MA
Southern New Hampshire University, NH
University of North Carolina, NC
University of West Florida, FL]]> 2018-04-12 18:30:50 UTC https://padlet.com/18behml/gfpre19zh55f/wish/251309268 18behml https://padlet.com/18behml/gfpre19zh55f/wish/251674017 2018-04-13 17:57:20 UTC https://padlet.com/18behml/gfpre19zh55f/wish/251674017 18behml https://padlet.com/18behml/gfpre19zh55f/wish/251694581 Many forensic accountants can further their careers and job prospects by joining some of the  networks for forensic accountants. One of the more popular ones is the Forensic CPA Society. In order to get into the FCPAS you have to take a test for entry. There are five parts to the test, which are:
Criminal Interrogation and Confessions
Corporate Fraud Handbook
Financial Investigation and Forensic Accounting
Forensic and Investigative Accounting and
Principles of Fraud Investigation
Some of the benefits of being admitted into these networks are the ability to be promoted by the society and you can add their credential to your name. Ex. John Doe CPA, FCPA.]]> 2018-04-13 18:41:28 UTC https://padlet.com/18behml/gfpre19zh55f/wish/251694581 18behml https://padlet.com/18behml/gfpre19zh55f/wish/253572820 Continued Professional Education is most often required for CPA's and CFE's in most states. In Wisconsin, for public practicers, for every three years after obtaining their CPA license, you must obtain 120 hours of CPE with no less than 20 hours per year. If you aren't practicing publicly, you need 90 hours every three years, with 15 minimum each year. ]]> 2018-04-19 18:11:23 UTC https://padlet.com/18behml/gfpre19zh55f/wish/253572820 18behml https://padlet.com/18behml/gfpre19zh55f/wish/253579586 There have been several big examples of fraud in the history of the United States. Some of the biggest ones are Enron, MF Global, and the Bernie Madoff ponzi scheme.
MF Global-  MF Global was a middle man between buyers and sellers of futures.  When it collapsed in 2011, 1.5 billion in customer assets were frozen and lost; the customers could not withdraw their money. MF Global also invested around 6.3 billion in European countries faced with severe debt, which is a big event in the bankruptcy of the company. According to Fortune in 2014, MF Global's "customer accounts, will likely now be receiving a stunning 100 cents back on every dollar of their principal." I was unable to find any information about customers receiving their money back. ]]> 2018-04-19 18:25:26 UTC https://padlet.com/18behml/gfpre19zh55f/wish/253579586 18behml https://padlet.com/18behml/gfpre19zh55f/wish/253585370 Many fraud offenses, if found guilty, are treated as felony offenses.When the victim of fraud loses over $2,500 it is classified as a felony in Wisconsin. Fraud under an amount of $2,500 is a misdemeanor. Common types of fraud include bankruptcy fraud, tax fraud, and insurance fraud. Last year, worldwide, around 2400 cases of occupational fraud occurred. Within that, the median amount lost was around $140,000.
http://www.attorneytraceywood.com/Fraud.cshtml]]> 2018-04-19 18:36:32 UTC https://padlet.com/18behml/gfpre19zh55f/wish/253585370