Detail Irrational Ratios   Oleh:  Wells, Joseph T. Jenis: Article from Bulletin/Magazine Dalam koleksi: Journal of Accountancy vol. 192 no. 2 (Aug. 2001), page 80-89. Topik: financial ratios; irrational ratios Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ85.13 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel "Financial statements tell a story,” says accounting professor W. Steve Albrecht, “and the story should make sense.” If not, it’s possible the story is a fake. By standing far enough back from the numbers to get a good picture of the client’s business, auditors frequently can detect signs of financial statement frauds. Because the balance sheet, income statement and statement of cash flows are interrelated, such frauds can pop out when certain numbers don’t make sense. The inescapable logic of the accounting equation ensures that any major overstatement of assets or profits, such as in the infamous ZZZZ Best case, will show up over time. Riding in the back of a taxi from the Federal Correctional Institute in Englewood, Colorado, to the Denver airport, I held a videotape in my hand. Two hours earlier, I had recorded the story of the legendary Barry Minkow, the "boy wonder” who, in the mid - 1980s, had conned his investors and auditors in a $100 million financial - statement fraud scheme. I planned to use the video to train auditors. Minkow, who had volunteered for the interview, told me everything - something he’d not done even for "60 Minutes.” For the briefest moment I thought, Minkow really is a pretty nice guy ; then I smiled ruefully and shook my head. One of the greatest con artists of all time had just charmed an experienced (read : cynical) fraud examiner. But that is the nature of such tricksters : they appear bright, articulate, sincere and likable. Barry Minkow was certainly that - and much more. Minkow had started a carpet - cleaning business in his parent’s garage when he was only 13. Within five years, ZZZZ Best Carpet Cleaning Service went public. But the company was built entirely on Minkow’s lies. By the time he was 20, the fraud had been uncovered and Minkow was sentenced to 25 years in federal prison (he served eight years before being paroled). Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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