Accounting Fraud through Product Costing

Fraud is a malicious obtaining of money or property by deception and so accompanied by concealment of theft and translation of stolen property or money into personal resources for private use. The costs of fraudulence atomic number 18 heavy to estimate because not all uncovered fraud is disclosed for do action to be pursued. Most fraud is committed by the trust and valued employees and it leads to shock and disbelief when much(prenominal) cases are discovered Cones, 2011).Such double-faced behavior may include cutting costs, spending corporate and stockholder money on personal expenses, and manipulating financial records for personal needs. Through fraud examination, organizations can be able to determine if fraud occurs and in such(prenominal) case help to gather relevant evidence for the crime, the financial records are analyzed by financial detectives and relevant surveillance conducted to mitigate such hideous acts. A comprehensive review on the organizations internal ma intain is carried out to ensure all workers comply with the relevant regulatory standards and application benchmarks.This process also conducts analytical review on key chronicle areas to reveal Seibel fraudulent activities. Forensic accountants can investigate frauds, investigate accountants, forensic auditors or fraud auditors. Scientific knowledge can be utilize to relate and investigate crimes through Interactive process and assess evidences of crimes committed. accord to Siltstone & Sheets (2012), these experts have analyzed several cases and most fraud In output costing results from overstatements of revenues or understatement of receivables and Inventory. References Siltstone, H. , & Sheets, M. (2012).