Fair value accounting fraud: new global risks and detection techniques
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Hoboken, NJ
Wiley
2009
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XXI, 250 S. graph. Darst. |
| ISBN: | 9780470478585 |
Internformat
MARC
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| 245 | 1 | 0 | |a Fair value accounting fraud |b new global risks and detection techniques |c Gerard M. Zack |
| 264 | 1 | |a Hoboken, NJ |b Wiley |c 2009 | |
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Datensatz im Suchindex
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| adam_text | Titel: Fair value accounting fraud
Autor: Zack, Gerard M.
Jahr: 2009
Contents
Preface
Acknowledgments
xvu
xxi
PART I INTRODUCTION TO FAIR VALUE ACCOUNTING FRAUD
CHAPTER 1 Overview of Financial Statement Fraud and
Fair Value Accounting 3
Introduction to Financial Reporting Fraud 3
What Makes It Fraud? 4
Why Financial Reporting Fraud Is Perpetrated 5
Using One Fraud to Hide Another 7
CHAPTER 2 The Use of Fair Value in Financial Statements 9
Historical Cost versus Fair Value 9
Sources of Accounting Principles 11
U.S. GAAP versus IFRS 13
Fair Value Option Added for U.S. GAAP 14
Fair Value Defined 14
International Convergence 17
Some Principles of Financial Statement Presentation 19
Effective Dates of Accounting Standards 21
Impact of Fraud on Financial Statements 22
CHAPTER 3 Methods of Determining Fair Value 27
Introduction 27
Market Approach 29
Contents
Income Approach
Cost Approach
Internal versus Externally Developed Valuations
Inputs to Valuation Methods
Fair Value Guidance under IFRS
Availability of Market Evidence
29
33
33
36
39
39
PART II ASSET-BASED SCHEMES
CHAPTER 4 Investments in Debt and Publicly Traded
Equity Securities 45
Scope of Investments Covered 45
Sources of U.S. GAAP and IFRS 46
Classification and Treatment—U.S. GAAP 47
Classification and Treatment—IFRS 48
Reclassifkations in General 52
Reclassifications from the Held-to-Maturity Category 53
Determination of Fair Value 56
Active versus Inactive Markets 59
Temporary versus Other-than-Temporary
Impairments—U.S. GAAP 61
Impairment Losses—IFRS 64
Summary of Fraud Risks 65
CHAPTER 5 Ownership Interests in Nonpublic Entities 67
Sources of U.S. GAAP and IFRS 67
Introduction 68
Consolidated Financial Statements 69
Jointly Controlled Entities versus Jointly
Controlled Assets 69
Equity Method Investments 71
Proportionate Consolidation 72
Fair Value Option 72
CHAPTER 6 Loans and Receivables 75
Sources of U.S. GAAP and IFRS 75
Contents
xi
Recognition and Measurement—U.S. GAAP
Recognition and Measurement—IFRS
CHAPTER 7 Intangible Assets and Goodwill
Sources of U.S. GAAP and IFRS
Asset versus Expense
Web Site Costs
Measurement
Finite Life Intangible Assets
Residual Value
Indefinite Life Intangible Assets
Impairment Losses
Concluding Remarks
CHAPTER 8 Business Combinations
Sources of U.S. GAAP and IFRS
Business Combination versus Asset Acquisition
Accounting for Business Combinations
Identification of Intangible Assets
Business Combinations Achieved in Stages
CHAPTER 9 Asset Impairments
Sources of U.S. GAAP and IFRS
Definition of an Impairment Loss
When to Test for Impairment
Indicators of Impairment of Assets
Extent of Impairment Loss
Reversal of Previous Impairment Losses
CHAPTER 10 Property and Equipment (Including
Investment Properties)
Sources of U.S. GAAP and IFRS
Initial Recognition
Measurement after Initial Recognition
Investment Property
Impairment Losses
77
79
81
82
82
84
84
86
87
88
89
90
91
91
91
93
95
97
99
100
101
102
103
106
107
111
111
112
112
114
115
Xll
Contents
PART III
LIABILITY-BASED SCHEMES
CHAPTER 11 Debt Obligations
Sources of U.S. GAAP and IFRS
Measurement
Fair Value Option
Valuation of Debt
119
119
120
121
121
CHAPTER 12 Deferred Revenue
Sources of U.S. GAAP and IFRS
Recognition—Customer Loyalty Programs
Multiple Deliverable Arrangements
CHAPTER 13 Asset Retirement Obligations
Sources of U.S. GAAP and IFRS
Recognition—U.S. GAAP
Recognition—IFRS
Can a Reliable Estimate Be Determined?
Measuring and Recording an Asset
Retirement Obligation
Summary—Comparison of U.S. GAAP and IFRS
125
126
126
129
133
133
134
135
136
137
139
CHAPTER 14 Guarantees 141
Sources of U.S. GAAP and IFRS 141
Recognition—U.S. GAAP 142
Measurement 143
Recognition—IFRS 144
PART IV OTHER FAIR VALUE ACCOUNTING FRAUD ISSUES
CHAPTER 15 Derivatives and Hedging 149
Sources of U.S. GAAP and IFRS 150
Definitions and Treatment—U.S. GAAP 150
Definitions and Treatment—IFRS 154
Measurement 155
Embedded Derivatives 155
Contents
xiii
CHAPTER 16 Assets or Liabilities of Sponsors of Employee
Benefit Plans 157
Sources of U.S. GAAP and IFRS 158
Recognition and Measurement—U.S. GAAP 158
Recognition and Measurement—IFRS 160
CHAPTER 17 Contingencies and Provisions 161
Sources of U.S. GAAP and IFRS 161
Recognition—U.S. GAAP 161
Amount of Loss to Be Recognized 164
Recognition—IFRS 166
Measurement 167
Comparison of U.S. GAAP and IFRS 168
CHAPTER 18 Share-Based Transactions 171
Sources of U.S. GAAP and IFRS 171
Recognition—U.S. GAAP 172
Measurement—U.S. GAAP 174
Recognition—IFRS 176
Measurement—IFRS 178
CHAPTER 19 Nonmonetary Transactions 181
Sources of U.S. GAAP and IFRS 181
Recognition and Measurement—U.S. GAAP 182
Recognition and Measurement—IFRS 184
Advertising Barter Transactions—U.S. GAAP 184
Advertising Baiter Transactions—IFRS 187
CHAPTER 20 Special Fair Value Issues of Not-for-Profit
Organizations 189
Introduction 189
Noncash Contributions of Assets 190
Contributed Use of Assets 191
Promises to Give 192
Contributed Services 193
Matching Requirements 195
XIV
Contents
CHAPTER 21 Fair Value Disclosure Issues
Introduction
Sources of Disclosure Requirements
Financial Instruments
Impairment Losses
Uncertainties
197
197
198
199
201
202
PARTV
DETECTION OF FAIR VALUE ACCOUNTING FRAUD
CHAPTER 22 A Framework for Detecting Fair Value
Accounting Fraud 205
Assessing the Risk of Fraud 205
Understanding How Fair Value Impacts
the Financial Statements 205
External Factors that Indicate Risk 206
Internal Risk Factors 207
Materiality 209
Internal Controls over Fair Value Accounting 210
The Risk of Management Override 211
Framework for Fair Value Accounting Fraud Detection 212
Auditing Standards 214
Auditor Independence 217
CHAPTER 23 Use of Ratios and Other Analytical Procedures 219
Analytical Procedures as a Fraud Detection Tool 219
Horizontal Analysis 220
Vertical Analysis 221
Operating Ratios 221
Customized Ratios 225
Appendix A Summary Checklist of Fair Value Accounting Fraud
Risks
227
Appendix B SEC Office of the Chief Accountant and FASB Staff
Clarifications on Fair Value Accounting
233
Contents_______________________________________________________________xv
Appendix C Internal Controls over Fair Value
Accounting Applications 237
Bibliography 243
About the Author 245
Index 247
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| spelling | Zack, Gerard M. Verfasser aut Fair value accounting fraud new global risks and detection techniques Gerard M. Zack Hoboken, NJ Wiley 2009 XXI, 250 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Misleading financial statements Accounting fraud Fair value Accounting Marktwert (DE-588)4516039-9 gnd rswk-swf Bilanzdelikt (DE-588)4145377-3 gnd rswk-swf Feststellung (DE-588)4154199-6 gnd rswk-swf Bilanzdelikt (DE-588)4145377-3 s DE-604 Feststellung (DE-588)4154199-6 s Marktwert (DE-588)4516039-9 s HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=018001454&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Zack, Gerard M. Fair value accounting fraud new global risks and detection techniques Misleading financial statements Accounting fraud Fair value Accounting Marktwert (DE-588)4516039-9 gnd Bilanzdelikt (DE-588)4145377-3 gnd Feststellung (DE-588)4154199-6 gnd |
| subject_GND | (DE-588)4516039-9 (DE-588)4145377-3 (DE-588)4154199-6 |
| title | Fair value accounting fraud new global risks and detection techniques |
| title_auth | Fair value accounting fraud new global risks and detection techniques |
| title_exact_search | Fair value accounting fraud new global risks and detection techniques |
| title_full | Fair value accounting fraud new global risks and detection techniques Gerard M. Zack |
| title_fullStr | Fair value accounting fraud new global risks and detection techniques Gerard M. Zack |
| title_full_unstemmed | Fair value accounting fraud new global risks and detection techniques Gerard M. Zack |
| title_short | Fair value accounting fraud |
| title_sort | fair value accounting fraud new global risks and detection techniques |
| title_sub | new global risks and detection techniques |
| topic | Misleading financial statements Accounting fraud Fair value Accounting Marktwert (DE-588)4516039-9 gnd Bilanzdelikt (DE-588)4145377-3 gnd Feststellung (DE-588)4154199-6 gnd |
| topic_facet | Misleading financial statements Accounting fraud Fair value Accounting Marktwert Bilanzdelikt Feststellung |
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