Class: Fraud AccountingCase Study 5Case Study: How a CFO Landed in...

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Class: Fraud AccountingCase Study 5Case Study: How a CFO Landed in Prison.Link:https://mediaweb.saintleo.edu/courses/ACC505/ACC505_CaseStudy_Mod6.pdfCompose a two page, double-spaced, APA format (source citations and reference insertions) essay. Expand your recommendations as they are supposed to be the main, and most part of the second page of these. Please do not use Wikipedia as a source.List the linked document on the references (APA)(This Assignment Box maybe linked to Turnitin.)Please use attached template(See cover letter attachment, and use as template)

Khushboo · Accepted Answer

FRAUD ANALYSIS
FRAUD ANALYSIS		3
FRAUD ANALYSIS
FROM: KHUSHBOO MURARKA
SAINT LEO UNIVERSITY
COURSE NO: 
INSTRUCTOR NAME:
DATE: 08/04/2019
Student Signature:
Brief Summary:
A company CEO wanted that its stock prices should be inflated, and he pressurized the CFO of the company to adhere the same at any cost. The CFO started accounting frauds to show the increased net revenue and to inflate the revenue under pressure of CEO. He wanted to impress the CEO and was hesitant to say no to his strong-willed boss. The CFO started below practices to inflate the revenue which led to a big accounting and financial fraud:
Detailed analysis of the case:
Jack, the CFO started to generate fictitious sales invoices to increase the revenue. He was booking fictitious sales invoices and there were no underlying documents like customer shipping bill, customer orders etc. He started recording Accounts receivables for these fake transactions and there was no cost of goods sold recorded for these transactions. Thus, the hundred percent income was recorded against the sales and there were no COGS recorded. The revenue of the company showed tremendous growth and the stock prices also rises. Further,

Class: Fraud Accounting Case Study 5 Case Study: How a CFO Landed in Prison. Link: https://mediaweb.saintleo.edu/courses/ACC505/ACC505_CaseStudy_Mod6.pdf Compose a two page, double-spaced, APA...

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