Fraud Risks List potential fraud schemes related to long-lived assets
? Overstatement of assets through overvaluing existing assets.
? Sales of assets are not recorded, and proceeds are misappropriated.
? Assets that have been sold are not removed from the books.
? Inappropriate residual values or lives are assigned to the assets, resulting in miscalculation of depreciation.
? Amortization of intangible assets is miscalculated.
? Costs that should have been expenses are improperly capitalized.
? Impairment losses on long-lived assets are not recognized.
? Fair value estimates are unreasonable or unsupportable.
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Systems developed using structured systems design techniques are more costly over the life of the system because maintenance of such structured systems is problematic
Indicate whether the statement is true or false
The amount in the Dividends account should be carried over from the adjusted trial balance of the 10-column work sheet to which of the following columns?
a. Income statement as a debit b. Income statement as a credit c. Balance sheet as a debit d. Balance sheet as a credit
What is the definition of the generational digital divide?
a. When the current generation understands technology as well as the previous generation. b. When the current generation owns a particular technology and the previous generation does not. c. When the current generation understands technology and the previous generation does not. d. When the current generation does not understand technology and neither does the previous generation.
Which of the following compares schedule deviations only and does not take cost into account?
A) collaboration variance B) quality variance C) baseline variance D) schedule variance