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Forensic Accountants Hot Old ProfessionBy Douglas E. ZiegenfussThe recent accounting scandals involving Enron, WorldCom, and other companies have put accountants in the public spotlight as never before in their history. For several months in early 2002, the media treated Americans to accountants giving Congressional testimony or making court appearances. However, so-called “forensic accountants” have been conducting these activities for quite some time in a quiet professional manner. New laws and regulations resulting from the scandals will make the role of the “forensic accountant” more important than ever before in today’s business world.Simply put, forensic accounting includes any accounting engagement in support of a legal case. The word “forensic” has an exotic connotation but is really a very basic concept. For instance, forensic medicine is medicine that supports court cases. Although forensic accountants don’t examine anything as exciting as dead bodies like the medical examiner in a Patricia Cornwell novel, they do arrive to find the charred remains of companies that have been totally looted of their assets like the Adelphia Communications Company was in 2002. Still other forensic accountants may testify on the worth of a company in a heated court case dealing with a bitter divorce or a contested will. In other words, forensic accountants do get their fair share of excitement and thrills.Types of Forensic SearchesForensic accounting engagements usually involve business valuations or fraud examination. Both types of forensic accounting have been around for a long time. Business valuation experts are usually involved whenever the ownership of an organization changes or a business disruption occurs. Otto Martinson, a professor of accounting at Old Dominion, specializes in business valuation services. He has negotiated the sale of several companies, performed research on valuing employee-owned businesses, and created a course on business valuation services. Divorces, particularly messy ones, require the use of business evaluation experts, as well as individuals who know where to look to uncover assets that one party in the divorce does not want the other party to discover.Fraud examination was given a strong boost with the adoption of the federal inco me tax in the early part of the 20th century. Forensic accountants sent the gangster Al Capone to jail for income tax evasion. Organizations usually employ fraud examiners directly or hire independent experts. In addition, many traditional auditors have adopted forensic accounting techniques during the review of their clients’ accounting records. I have performed forensic accounting engagements and conducted research in forensic accounting for more than two decades. The remainder of this article deals with the fraud examination aspect of forensic accounting, since that is the area currently receiving the most public attention.The Association of Certified Fraud Examiners (ACFE) is the professional organization for fraud examiners. Located in Austin, Texas, the ACFE was founded by an ex-FBI agent, John Wells, inthe mid-1980s. The ACFE has developed extensive training materials, a code of ethics and professional standards and the Certified Fraud Examiner designation. It has consistently lobbied accounting standard-setting bodies for more rigorous anti-fraud measures. Information about the ACFE can be found on its Web site: .Fraud Examiner on the CaseThe typical fraud examination involves four phases: planning, fieldwork, assessment and reporting. These phases differ depending on whether an actual fraud has occurred. For instance, fraud examiners are frequently called on to review an organization’s policies and procedures to identify potential weaknesses that could allow fraud to occur. The fraud examiner in these types of engagements obtains an understanding of the policies and procedures by examining manuals, interviewing personnel and observing the various procedures. The fraud examiner then identifies strengths and weaknesses in the procedures. In addition, the examiner actually tests whether the policies and procedures are being followed. Finally, the fraud examiner submits a report identifying and describing the unforeseen weaknesses and the policies or procedures that are not being followed or performed.Most organizations do not have the foresight to implement adequate controls until they become fraud victims. In these instances, the victimized organization consults a fraud examiner to identify the perpetrator(s) and attempt to recover damages. The fraud examiner must function as a detective in examining the scene of the crime, interviewing suspects, and obtaining confessions. The fraud examiner works with the organization’s counsel to build a winnable case. This is a very valuable service because the courts are severely overburdened with drug cases. Prosecutors will not pursue a case if the loss does not meet certain thresholds, or the case requires too much preparation on their part. Fraud examiners can help their organizations by producing complete case files that require a minimum of follow-up effort by prosecutors. In addition to a thorough knowledge of accounting and auditing, fraud experts need a solid background in law, criminology, and fraud techniques such as interviewing and interrogation. Most of these skills are acquired through training or on-the-job experience. However, Old Dominion University’s Department of Accounting recently added a course titled “Fraud Examination and Forensic Accounting” to its graduate curriculum. I develop ed and taught the first offering of this course during the fall 2002 semester.A Theft or Just Inept?Fraud is currently classified as either fraudulent financial reporting or misappropriation of assets. Fraudulent financial reporting involves the use of misleading financial statements to deceive investors and creditors. It happens relatively infrequently, but when it does occur, it can have catastrophic effects, as evidenced by the recent scandals involving Enron, WorldCom, etc. When employees at the CEO/CFO level carry out fraudulent financial reporting, they pressure the organization’s accountants to compromise their professional ethics and produce misleading financial statements. The existence of stock options and other forms of compensation tied to the organization’s financial results are often cited as the motivation for executives to engage in fraudulent financial reporting.On the other hand, lower level employees usually misappropriate assets. This type of fraud occurs more frequently but usually involves lower losses than fraudulent financial reportingfrauds. In most instances, employees misappropriate assets because supervision is lax, and perpetrators are given too many conflicting jobs to the point that they can steal assets and conceal the theft.Researchers in fraud examination initially focused on defining the magnitude of the fraud problem. In 1997, the ACFE released the first truly national study of fraud, titled “Occupational Fraud and Abuse,” and completed a follow-up study in 2002. Taken together the two studies go a long way to document the enormous impact that fraud has on our economy. For instance, the ACFE estimates that organizations lose approximately 6 percent of their revenues to fraud. If this figure is multiplied by the U.S. Gross Domestic Product, then the total economic impact of fraud is approximately $400 billion per year! Numerous other studies have also documented the enormity of the fraud problem. I conducted a study of fraud in cities and counties, which indicated embezzlement or theft of cash to be the most frequent type of fraud, followed closely by false invoices and contract fraud. In addition, I found that the government entity’s ethical environment was a key factor in limiting the occurrence of fraud. I also received an interesting survey result in which the original respondent did not reply because he had been sent to prison for embezzlement!Fraud researchers have also attempted to identify factors that cause or allow fraud to occur. Donald R. Cressey hypothesized that three factors needed to be present for fraud to occur: pressure on the perpetrator (drug addiction, stock options, excessive ego, and lifestyle, etc.); perceived opportunity (lack of supervision and controls); and rationalization (“Everyone else is doin g it,” “The company owes it to me,” or “I am just borrowing this money and plan to repay it when things improve.”). Recent studies have corroborated Cressey’s theories at least as far as asset misappropriation is concerned.Management Controls Reduce FraudThe Treadway Commission in the 1980s studied the causes of fraudulent financial reporting and found that the No. 1 deterrent of fraudulent financial reporting was the “Tone at the Top,” or management’s attitudes toward controls. If management took a seri ous interest in ensuring that adequate controls were present and operating in their organizations, then fraudulent financial reporting did not occur. However, as with Enron and others, if management did not take an interest or purposefully ignored controls, then fraudulent financial reporting inevitably occurred. Other studies and the recent scandals have corroborated the Treadway Commission’s findings. My colleagues in the College of Business and Public Administration and I have also focused our research on the importance of professional codes of conduct to ethical decision-making by involving internal auditors, management accountants and fraud examiners. In general, our research indicates that membership in professional societies with codes of ethics may improve ethical decision-making and indirectly reduce fraud by taking away the rationality that perpetrators use to justify their crimes.Unfortunately, nearly all the studies point to increases in the frequency and amount of frauds. It is hoped that the measures taken last summer by Congress, the Securities and Exchange Commission, and the major stock exchanges will focus the public’s attention on the fraud problem and reverse this upward trend.Douglas E. Ziegenfuss is an associate professor of accounting and finance at Old Dominion University. He spent eight years as an industrial auditor. He is the author of two books and numerous articles on audit-related subjects and is a frequent public speaker and consultant.。
注册会计师按什么顺序考试注册会计师（Certified Public Accountant，CPA）是许多商业领域所必需的职业认证。
完成考试意味着获得专业知识和能力的认可，并且增加了职业生涯的机会和潜力。
然而，对于初次参加CPA考试的人来说，考试的流程可能会非常复杂，这就是为什么需要了解注册会计师按什么顺序考试的原因。
首先，应该注意到CPA考试与其他专业考试不同，因为它是由各州的 State Board of Accountancy 负责管理的。
因此，考试的顺序可能会略有不同。
尽管许多州共享相同的认证考试过程，但也可能存在小的差异。
但总的来说，下面是CPA考试的常见顺序：1. Audit & Attestation（审计与确认）：这门考试涵盖了审计和报告、专业诚信、法律法规等多个方面。
通过这门考试需要掌握审计术语、程序以及法律法规知识。
2. Financial Accounting and Reporting（财务会计和报告）：这门考试主要关注企业中的财务会计和报告。
通过这门考试需要熟悉国际财务报告准则（IFRS）和美国财务会计准则（GAAP）等重要的财务报表规则。
3. Regulation（法规）：这门考试聚焦在税务、法律和道德法规。
通过这门考试需要掌握联邦税收法规、团结税法规和企业法律法规等重要内容。
4. Business Environment and Concepts（商业环境和概念）：这门考试主要关注管理、战略思维、市场营销、财务分析等方面。
通过这门考试需要了解企业战略和一些综合性的商业概念。
在参加CPA考试前，建议你先确认你所在地区的具体考试要求，以便更好地计划你的考试计划。
根据美国国家学术评议委员会（NASBA）的规定，考生有18个月的时间完成所有四门考试。
因此，最佳建议是在最早可行的时间开始考试。
另一部分值得注意的是，按照这个顺序来参加CPA考试，并不是必须的。
虽然在某些州，考生可能需要在制定的时间内完成全部四门课程，但有一些主管机构允许考生在不同的顺序或一次性完成全部四门考试。
Accounting is a profession that plays a pivotal role in the financial management of businesses,organizations,and individuals.It involves the systematic recording,analysis, and interpretation of financial transactions to provide valuable information for decisionmaking.Here is an essay on the accounting profession,highlighting its importance,key areas,and the skills required for success in this field.The Importance of AccountingAccounting is the backbone of any business.It helps in tracking the financial health of an organization,ensuring compliance with tax laws,and providing insights that can guide strategic decisions.The profession is not just about crunching numbers its about understanding the financial implications of business activities and offering solutions to improve financial performance.Key Areas of Accounting1.Financial Accounting:This involves preparing financial statements such as the balance sheet,income statement,and cash flow statement.These statements are crucial for investors and stakeholders to assess the financial position of a company.2.Management Accounting:Focused on providing financial information to internal management for decisionmaking purposes.It includes budgeting,forecasting,and cost analysis.3.Auditing:This area ensures the accuracy and reliability of financial records.Auditors examine financial statements and transactions to detect any discrepancies or fraud.4.Tax Accounting:Specializes in tax planning,compliance,and advisory services.Tax accountants help businesses and individuals minimize their tax liabilities while adhering to legal requirements.5.Forensic Accounting:Involves investigating financial irregularities and fraud.Forensic accountants use their skills to analyze financial data and provide evidence for legal proceedings.Skills Required for Success in Accounting1.Analytical Skills:Accountants must be able to interpret complex financial data and draw meaningful conclusions from it.2.Attention to Detail:Precision is crucial in accounting,as even minor errors can have significant financial implications.munication Skills:Accountants often need to explain complex financial information to nonfinancial professionals,making clear and effective communication essential.4.Ethical Judgment:Integrity is paramount in the accounting profession.Accountants must adhere to ethical standards and maintain confidentiality.5.Technical Proficiency:With the advent of technology,accountants must be adept at using accounting software and other tools that facilitate financial analysis and reporting.The Future of AccountingThe accounting profession is evolving with the integration of technology,such as artificial intelligence and blockchain,which are transforming the way accountants work. While these technologies can automate routine tasks,they also open up new opportunities for accountants to focus on more strategic and advisory roles.ConclusionThe accounting profession offers a rewarding career for those who are detailoriented, analytical,and have a strong interest in finance.As businesses continue to grow and become more complex,the demand for skilled accountants is expected to remain high. With the right education,training,and continuous professional development,accountants can play a crucial role in shaping the financial landscape of the future.。
FORENSIC ACCOUNTINGEmail Print Twitter Facebook Linkedin Add ThisRELATED LINKSStudent Accountant hub pageWith at least one requirement relating to forensic accounting in three out of five Paper P7 exams between December 2011 and December 2013, this is an area of the syllabus that students cannot afford to overlook. This article explores some of the issues relevant to forensic accounting.Forensic accounting has been a regular feature in the Paper P7 exam in recent sittings but the examiner has commented that it is an inadequately understood part of the syllabus.TERMINOLOGYThe syllabus requires an understanding of three key terms: ‘forensic accounting’, ‘forensic investigation’and ‘forensic audit’. Recent exam sittings have shown that students have rote-learnt the definitions or meaning of these terms, but do not necessarily understand them.The terms are not strictly defined in regulatory guidance and the meaning of forensic accounting is quite broad: it is the application of accountancy skills and knowledge in circumstances that have legal consequences. There are many circumstances with legal consequences in which accountancy might be required; the most well known of which is investigating alleged fraudulent activity.Forensic accounting is the term used to describe the type of engagement. It is the whole process of carrying out a forensic investigation, including preparing an expert’s report or witness statement, and potentially acting as an expert witness in legal proceedings.Forensic investigation is a part of a forensic accounting engagement. Forensic investigation is the process of gathering evidence so that the expert’s report or witness statement can be prepared. It includes forensic auditing, but incorporates a much broader range of investigative techniques, such as interviewing witnesses and suspects, imaging or recovering computer files including emails, physical searches of premises etc.Forensic auditing is the application of traditional auditing procedures and techniques in order to gather evidence as part of the forensic investigation.APPLICATIONThe major applications of forensic accounting include fraud investigations, negligence cases and insurance claims.An insurance claim would require determination of how much the client should claim from the insurer. The first step would be a detailed review of the insurance policy to determine ‘coverage’, ie what is insured and any clauses that might restrict the amount that can be claimed or invalidate the claim.The second step would be to gather evidence to quantify the loss, ie the amount to be claimed. Insurance claims might include claims following misappropriation of assets, ie theft of goods or money. In such cases, the forensic accountant will review inventory or cash records and details of sales and purchases to reconcile the amounts held and determine the value of the goods or cash stolen. They will also test the reliability of the information held by counting a sample of inventory or cash currently held in comparison with the client’s records. The forensic accountant will not assume that there has been a theft; they will consider other possibilities such as an error in the data held.Insurance claims may however, be much more complicated than this, such as in the case of business interruptions arising as a result of fire or flood. In these types of engagements the forensic accountant will review prospective financial information in comparison with reported outturn to evaluate the loss of profit arising as a result of the business interruption. The forensic accountant will not assume that there has been any loss of profit due to the business interruption; they will consider other possibilities such as a straightforward loss of market share to a competitor.Forensic engagements often require the forensic accountant to quantify a loss. One such engagement is in professional negligence claims, ie when another accountant has breached their duty of care to a client or third party resulting in a loss for that client. In these types of engagement, the forensic accountant would also provide an opinion on whether the duty of care owed has been breached, ie whether the audit or other accountancy service was performed in accordance with current standards in practice, legislation and techniques. In relation to an audit, this would require consideration of whether the International Standards on Auditing were followed.The need for a forensic accountant may also arise because two parties cannot agree on the amount owed by one party to another, and the accountant is engaged to provide an expert valuation, of a business for example.This might be the case in a matrimonial dispute, where a divorcing couple whose assets include shares in a company or partnership, engage a forensic accountant to value the company so that a settlement can be reached. A similar process might apply in partnerships, when one partner wishes to leave the partnership and is being bought out by the remaining partner(s).THE ROLE OF AN EXPERT WITNESSAn expert witness is quite different to any other witness in court proceedings. Most witnesses are 'witnesses of fact', ie they can only provide evidence on what they saw, did or heard. Mostimportantly, they cannot give their opinion on any of the matters about which they give evidence. By contrast, an expert witness is specifically called to give their opinion on a particular matter.An accountant can be called to give evidence as a professional witness, ie a witness of fact, or an expert witness. In order to give evidence as an expert witness they must be just that, an expert. They must be able to demonstrate a level of expertise that means their opinion is valuable to the court. This means not only expertise in accountancy, but also expertise in the particular area of accountancy that they are giving evidence on.A witness will provide a written report/statement to the court, and may also be required to attend court to give live evidence, in person, and be cross-examined by the ‘other side’.However, not all forensic engagements will require evidence to be submitted to a court. Often, the engagement will simply require a report for the client’s own purposes or sometimes a report for use by the insurer.Either way, a key skill necessary in being a successful forensic accountant is the ability to explain complex accounting concepts in simple terms to someone who is not themselves an accountant, whether that be as an expert witness explaining matters to the judge or jury, or when explaining matters to the client. Forensic accounting integrates investigative, accountancy, and communication skills.PLANNINGForensic accounting engagements are agreed-upon procedures engagements, not assurance engagements. The forensic accountant will not provide an assurance opinion –that is the role of the auditor when reviewing the amount of loss included in the financial statements.This will normally involve determining an appropriate value or quantifying a loss as discussed above; this is quite distinct from an assurance engagement in which the engagement team would review an amount determined by the client.As an agreed-upon procedures engagement, the forensic accountant will normally prepare a report for the client that sets out their findings, based on the scope agreed in the engagement letter. This report may be addressed to management, often in the case of a fraud, or to the insurer.It may be that a witness statement/report for submission to the court/arbitrator is required in addition to or instead of a report to the client.However, planning the investigation is likely to be similar to planning an audit or any other assurance engagement.Planning will commence with a meeting with the client in which the engagement team will develop an understanding of the issue/events (the fraud, theft etc) and actions taken by the clientsince it occurred.A key part of planning is to confirm exactly what format the output is required in, and exactly what matters are required to be covered within it.At this stage any key documentation will be obtained and scrutinised –for example, the insurance policy, the partnership agreement, the evidence that led to the discovery of the fraud, etc.The team will agree with the client, what access to other information or personnel will be required and this will be arranged.Based on the above, the team will design procedures that enable them to meet the requirements of the client, as agreed. This may or may not include test of controls, depending on the circumstances. There would be no need to tests control when valuing a business for a matrimonial dispute. However, testing controls will be key to determining how a fraud took place.PROCEDURES AND EVIDENCEAny method of obtaining evidence can be used in a forensic accounting engagement –this is not a limited assurance engagement in which procedures are likely to be restricted to enquiry and analytical procedures.Forensic engagements will include a detailed and wholesale review of all documentation and electronic evidence available. The opinion given by the expert accountant must be reasoned, and backed up by evidence. Their opinion cannot be objective if only based on what they are told; they must corroborate that information.To be awarded marks in the exam, your procedures cannot be vague. They must be specific enough that the engagement team could actually follow your instructions.For example, it would not be sufficient to write 'interview the suspect'. You must suggest questions that should be asked of the suspect in interview, depending on the circumstances in the scenario. For example, the suspect could be asked to explain their job role and what access that gives them to systems, cash, inventory etc.This also applies when recommending enquires of or discussions with management –it must be clear in your answer what it is the engagement team should ask of them, eg have they informed the police, has the suspect been suspended, have they informed the insurer etc.Equally it is not sufficient to suggest the use of computer assisted auditing techniques (CAATs). You must specify how the CAATs could be used. For example, data matching bank accounts used for paying suppliers with bank accounts for paying employees, exception reports identifying employees who are not taking holiday, etc.In order to design appropriate procedures you must identify the type of forensic accounting engagement, and the specific type of fraud, insurance or negligence claim. For example, quantifying the theft of goods will be very different from quantifying a loss from payroll or ‘ghost employee’fraud or loss of profits following a business interruption (as discussed above).FUNDAMENTAL ETHICAL PRINCIPLESThe range of ethical and professional issues will be similar to any other type of engagement. However, the importance of ethics is arguably much greater in relation to forensic accountancy. Often both ‘sides’will bring an expert witness to the hearing where they do not agree. The decision maker must decide which evidence they ‘prefer’–the credibility of the witness is often the primary factor on which they can base that decision and the credibility of an accountant is reliant on their compliance with the fundamental ethical principles.In the exam, you will also need to note whether the client requesting the forensic accounting service is an audit client, if so, this will present an additional and particularly important threat to objectivity; a self-review threat. The investigation is likely to involve the quantification of an amount, which will then be reviewed as part of the financial statements audit. The significance of the threat will be affected by the materiality of the amount and the subjectivity involved in quantifying it, eg if for loss of profits following business interruption this will be more subjective than quantification of the value of stolen inventory.Remember that the decision to prosecute is a matter for the client. Often, clients do not want to prosecute for fear of damaging their reputation. The forensic accountant can provide the client with an analysis of all of the facts, but must not make the decision to prosecute (a management threat to objectivity). The forensic accountant has a duty of confidentiality, unless it is in the public interest to do so, they must not disclose the fraud to any third party including the police, without client permission.A FINAL NOTERemember that a forensic accountant is just that; an accountant! Their role is to provide an accountant’s expert opinion or analysis of the facts. They are not the law-enforcer, prosecutor or judge. Be careful in the exam not to detract from an otherwise professional answer by getting carried away with suggestions such as taking fingerprints or DNA evidence or blood samples, or catching and punishing the culprit –that is not the role of an accountant.CHECK YOUR UNDERSTANDINGQuestion: Which of the following would be a valid procedure in a forensic engagement to determine the amount of insurance to be claimed in respect of lost profits during a business interruption following a flood?Obtain a written confirmation from the insurance provider to verify the amount of the loss.Recalculate management’s assessment of the loss to verify mathematical accuracy.Obtain the profit forecast for the period covered by insurance, and cast for mathematical accuracy.Answer: The assurance provider’s role is to independently quantify the loss in order to determine the amount to be claimed; therefore 1 and 2 are not relevant. They would review the profit forecast in comparison with the actual outturn to determine the amount of profit lost and the first step would be to ensure that it adds up correctly. (Answer 3)Question: Which of the following would be a valid statement to include in a witness statement from an expert witness, but not a professional witness?The company’s purchases daybook recorded 15 sales invoices made out in the name of the allegedly fictitious supplier.The majority of the transactions recorded in the sales day-book do not appear to be commercial in nature.75% of customers breached the credit limits set by the company during the period.Answer: 1 and 3 are a matter of fact, 2 is a matter of opinion. Only an expert witness can give their opinion. A professional witness is a witness of fact who can only comment on what they did, saw or heard. A professional accountancy witness could review a company’s records and comment on what they saw during that review. (Answer 2)H elen Barrett is a forensic accountant and a freelance lecturer。
紧张的复试终于结束了，也终于在第一批拟录取的名单里看见了自己的名字。
发点复试面试时的试题，希望能帮到以后考南财会计的同学们。
专业课面试首先是自我介绍，名字+毕业学校+专业+亮点展示（如CPA通过情况、在校获奖学金情况...），然后便是抽签，抽两题（一共有48道问题），下面是大家面试时抽到的一些题目：1、会计核算的方法2、会计循环3、收入确认的条件4、重要性水平的定义5、内部控制的含义、要素6、可转换债券的转换比率7、谨慎性原则的含义8、零基预算的含义9、管理层认定10、MM理论11、确定审计风险的程序12、有效性市场的含义，种类13、作业成本法14、权责发生制15、风险导向审计16、相关决策成本17、财务会计与管理会计的区别英语面试首先是自我介绍（1-2分钟即可），说的太多老师会打断你，然后便是抽签，抽两道题，一道是话题类，另一道是专业类的。
我当时比较幸运，抽到的话题类的是what's your hobbies? 专业类的是what is opportunity cost?还有其他一些同学抽到了WACC,CAPM等等。
大概就是这些了，还有不足的地方，大家踊跃发言补充啊。
面试题：什么是期权，看涨期权和看跌期权的区别是什么?管理层认定，审计目标，审计证据，审计程序的概念及相互关系是什么？我抽到的专业复试题是：什么是收入，收入的特点是什么？英语专业复试题是：what is inter rate of return?意思是什么是内含报酬率。
英语话题是：如果你考上了研究生，你怎么样规划大学生活。
我抽到的是：1.会计核算的对象是什么？会计要素、账户、会计核算对象之间的关系？2.控制测试、实质性测试、穿行测试的含义？英语面试抽到的是：1.如果你在准备一篇报告，选择什么主题，会参考哪些期刊？2.如何定义成功？补充资产减值公司价值评价英语是capital structure classicmusic popular music我抽到的题目：1、审计证据的含义？哪几种外在表现形式？获取审计证据的审计程序？2、控制测试、实质性程序、穿行测试、双重目的测试的含义。
Bekaert Annual Report 2012Financial Review19 3. Critical accounting judgments and key sources ofestimation uncertaintyIn the application of the Group’s accounting policies, management is required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. These judgments, estimates and assumptions are reviewed on an ongoing basis.3.1. Critical judgments inapplying the entity’saccounting policiesThe following are the critical judgments made by management, apart from those involving estimations (see note 3.2. below), that have a significant effect on the amounts reported in the consolidated financial statements.- Management assessed that a constructive obligation exists to provide pre-retirement schemes for employees as from the first day of service (see note 6.15. ‘Employee benefit obligations’) and therefore these pre-retirement schemes are treated as defined-benefit plans using the projected unit credit method.- Management concluded that the criteria for capitalizing development expenditure were not met (see note 6.1. ‘Intangible assets’).- Management concluded that the functional currency of Bekaert Izmit Celik Kord Sanayi ve Ticaret AS (Turkey) is the euro, consistent with the current economic substance of the transactions relevant to that entity.- Management concluded, based on an assessment of recent significant changes in the economic environment, that the functional currency of Vicson SA (Venezuela) at the balance sheet date is the bolivar fuerte (VEF) instead of the US dollar. The ever increasing monetary restrictions on USD transactions have led to a de facto dominance of the VEF in the company’sday-to-day transactions. The transition date is established at 31 December 2012. Consequently, since the Venezuelan economy is generally recognized as hyperinflationary, Vicson SA will also apply IAS 29, Financial Reporting in Hyperinflationary Economies, prospectively as from the transition date. Moreover, in view of the restrictions on dividend repatriation for overseas investors introduced in 2009, and given the dramatic decline in the corresponding economic rate during 2012 (from 8.6 to 17.2 VEF/USD vs. the SITME rate of 5.4 VEF/USD which remained constant), management decided to use thecorresponding economic rate for translating the VEF financial statements to the reporting currency for consolidation. Management deems this to be the best choice for providing a true and fair view of the contribution of the Venezuelan operations to the consolidated financial statements. When accounting for foreign currency transactions in its single entity financial statements, Vicson SA has used the SITME rate (5.4 VEF/USD) as long as it was a viable alternative for the official rate(4.3 VEF/USD) and has recognized a realized exchange result when a transaction was settled at another rate. However, on 13 February 2013, the authorities announced both a devaluation of the VEF from 4.3 to 6.3 VEF/USD and the abolishment of the SITME system. Since that date, Vicson SA uses the only remaining official rate (6.3 VEF/USD) to account for foreign currency transactions.- Management concluded that Bekaert, given its non-controlling interest of 13.0% at year-end 2012, has no significant influence in Shougang Concord Century Holdings Ltd and therefore the investment is a financial asset available for sale accounted for at fair value through equity. As any significant or prolonged decline in fair value provides objective evidence for impairment, management agreed to consider any decline in fair value (a) exceeding 30% of the cost as significant and b) continuing for more than one year as prolonged. Consequently, management assessed that the investment was impaired at 30 June 2012.- Given its global presence, Bekaert is exposed to tax risks in many jurisdictions. Tax authorities in those jurisdictions conduct regular tax audits which may reveal potential tax issues. While the outcome of such tax audits is not certain, management is convinced that Bekaert, based on an overall evaluation of potential tax liabilities, has recorded adequate tax liabilities in its consolidated financial statements.- Management concluded that the Company has control over Bekaert Ansteel Tire Cord (Chongqing) Co Ltd and accordingly consolidates this entity.- Although the guaranteed return on defined contribution plans in Belgium has recently been lowered by the insurance companies and now falls short of the legal threshold (3.25%), management concluded that there is no material risk at the balance sheet date. Hence, these plans are still accounted for as defined contribution plans and not as defined benefit plans.Financial Review Bekaert Annual Report 2012 203.2. Key sources ofestimation uncertaintyThe following are the key assumptions concerning the future, and the other key sources of estimation uncertainty at the end of the reporting period that have a significant risk of causing material adjustments to the carrying amounts of assets and liabilities within the next financial year.- Management concluded that the collapse of the solar industry is a decisive impairment indicator for the Group’s sawing wire business. The sawing wire activities in EMEA and North America were stopped, and an impairment test was conducted on the remaining cash-generating unit (CGU) in Asia Pacific. In its cash flow projections, management assumed that prices and margins are not going to recover from their present levels and used a discount rate of 10.4% (in line with the WACC for the CNY region, see note6.2. ‘Goodwill’). Consequently, the recoverable amount of the CGU was based on the fair value less costs to sell, using following assumptions:- Land and buildings are likely to be redeployedfor other activities and are not impaired.- The fair value of plant, machinery andequipment that is likely to be redeployed forother activities is based on the Group’s transfer pricing policy.- All other plant, machinery and equipment isfully impaired.- Deferred tax assets are recognized for the carry-forward of unused tax losses and unused tax credits to the extent that it is probable that future taxable profit will be available against which the unused tax losses and unused tax credits can be utilized. In making its judgment, management takes into account elements such as long-term business strategy and tax planning opportunities (see note 6.6. ‘Deferred tax assets and liabilities’). - Based on the expected economic life of specific product lines, which is expected to be significantly shorter than average, higher depreciation rates are applied to dedicated assets which are not expected to be reallocated to another product line. Consequently, depreciation percentages ranging from 10% to 25% are used instead of 8% for plant, machinery and equipment. R&D testing equipment dedicated to specific product lines is also depreciated at 25% p.a. Other R&D testing equipment is depreciated at 16.7% p.a.- Credit risk related to customers: management closely reviews the outstanding trade receivables, also considering ageing, payment history and credit risk coverage. Specific and general bad debt allowances recognized are based on management’s best estimates at the balance sheet date (see note 6.7. ‘Operating working capital’).- Employee benefit obligations: the defined-benefit obligations are based on actuarial assumptionssuch as discount rate and expected rate of return on plan assets, which are extensively detailed in note 6.15. ‘Employee benefit obligations’.- Provisions for environmental issues: at each year-end an estimate is made of future expenses in respect of soil pollution, based on the advice of an external expert (see note 6.16. ‘Provisions’).- Impairment: the Group performs annual impairment tests on goodwill and on cash-generating units for which there are indicators that the carrying amount might be higher than the recoverable amount. This analysis is based upon assumptions such as market evolution, market share, margin evolution and discount rates (see note 6.2. ‘Goodwill’).- According to Chinese tax legislation and regulation, certain entities of the Group which enjoy preferential treatment in the form of a reduced income tax rate are granted a gradual transition to the statutory tax rate over a five year period ending in 2012. Based on current practice, management judges that part of the investments comply with the conditions for this tax incentive. Should the tax regulation or practice change in this area, the Company may be required to update its tax liabilities or provisions.- Tax receivable (ICMS) in Brazil: recovery of the tax receivables of Belgo Bekaert Arames Ltda and BMB-Belgo Mineira Bekaert Artefatos de Arame Ltda is deemed highly probable as several action plans have already been successfully implemented. Other tax claims in Brazil, including claims relating to the taxability of ICMS incentives received by Belgo Bekaert Nordeste (before its merger within Belgo Bekaert Arames Ltda), have not been provided for, supported by legal advice (see note 6.4. ‘Investments in joint ventures and associates’).- Fair value adjustments for business combinations: in accordance with IFRS 3, Business Combinations (revised 2008), Bekaert remeasures the assets, liabilities and contingent liabilities acquired through a business combination to fair value. Similarly, consideration (including consideration in shares), contingent consideration and any stake in the acquiree held prior to the business combination are also measured at fair value. When significant influence is acquired in an associate, or joint control is acquired in a joint venture, Bekaert also remeasures its share in the assets, liabilities and contingent liabilities in that associate or joint venture to its acquisition-date fair value. Where possible, fair value adjustments are based on external appraisals or valuation models, e.g. for contingent liabilities and intangible assets which were not recognized by the acquiree. Internal benchmarks are often used for valuing specific production equipment. All of these valuation methods rely on various assumptions such as estimated future cash flows, remaining useful economic life etc.。
与会计专业相关的英语作文Accounting is a field that requires attention to detail and precision. It involves analyzing financial data, preparing reports, and ensuring that all financial transactions are recorded accurately. A strong understanding of accounting principles and regulations is essential in this profession.In addition to technical skills, accountants also need to have strong analytical and problem-solving abilities. They must be able to interpret complex financial information and make sound judgments based on their analysis. Attention to detail and the ability to work under pressure are also important qualities for accountants.Furthermore, communication skills are crucial in the field of accounting. Accountants often need to explain financial information to clients, colleagues, and other stakeholders. They must be able to convey complex concepts in a clear and understandable manner.Moreover, ethical behavior is essential for accountants. They have access to sensitive financial information andmust adhere to strict codes of conduct to maintain thetrust and integrity of the profession. Honesty, integrity, and a commitment to upholding ethical standards are fundamental to the practice of accounting.Lastly, the accounting profession offers a wide rangeof career opportunities. Accountants can work in public accounting firms, government agencies, corporations, or as independent consultants. They can specialize in areas such as tax accounting, forensic accounting, or management accounting, providing a diverse and dynamic career path.。
INTRODUCTION TO FORENSIC ACCOUNTINGBy Frank J. Grippo, MBA, CPA and J. W. "Ted" Ibex, MBA, CPA, ABVForensic accounting is a science (i.e., a department of systemized knowledge) that deals with the application of accounting facts gathered through auditing methods and procedures to legal problems usually dealing with financial and valuation issues. It is very different from traditional auditing. Forensic accounting is the investigation of an allegation; the evidence is expected to be presented in a judicial forum. Forensic accountants often employ specialists in other areas as part of a team to gather evidence. There must be absolute assurance before evidence is presented in court.The scope of the investigation may be limited to specific issues. The financial wherewithal of the client is a key factor in determining the depth of a forensic investigation. Forensic services may be very costly. It is important for the client to understand, from the onset, the costs to finance the litigation. There should be a cost/benefit relationship. There are a few principled people who will want to spend a dollar to recover 50 cents, but they are not the norm. Forensic accounting integrates investigative, accounting and auditing skills. Forensic accountants look at documents in a critical manner in order to draw conclusions and to calculate values. They review financial and other data to identify irregular patterns and/or suspicious transactions--always with an awareness of areas ripe for fraud. Forensic accountants don't merely look at the numbers--they look behind the numbers.The marked increases in white-collar crime and business disputes and other claims have helped created the need for forensic accounting. It is used in a variety of situations including, but not limited to, the following:• Business valuations• Divorce proceedings and matrimonial disputes• Personal injury and fatal accident claims• Professional negligence• Insurance claims evaluations• Arbitration• Partnership and corporation disputes• Shareholder d isputes (minority shareholders claiming oppression)• Civil and criminal actions concerning fraud and financial irregularities• Fraud and white-collar crime investigations.AREAS OF FORENSIC ACCOUNTINGForensic accounting can be divided into two areas of specialization--litigation support and investigation or fraud accounting. Litigation support specialists concern themselves with business valuation, economic damages, testimony as expert witnesses, future earnings'evaluation, and income and expense analysis. Fraud accountants apply their skills to investigate areas of alleged criminal misconduct in order to support or dispel damages. Because these fields overlap, a forensic accountant may do litigation support work one month and perhaps act as a fraud accountant on another engagement the following month. More likely, the forensic accountant will be working on several types of engagements simultaneously.Litigation SupportThis is a situation where the forensic accountant is asked to give an opinion on either facts that are known or those that have yet to be uncovered. The forensic accountant is an integral part of the legal team. In this capacity, he/she helps to substantiate allegations, analyze facts, dispute claims, and develop motives. The amount of involvement and point at which the forensic accountant gets involved varies from case to case. Sometimes the forensic accountant is called upon from the beginning of the case; at other times the forensic accountant is only retained before the case is scheduled to go to court and after out-of-court settlements have failed.In litigation support, the forensic accountant assists in obtaining documentation to support or dispel a claim. He/she may be called upon to review documentation in order to give an assessment of the case to the legal team and/or identify areas where a loss occurred. Moreover, the forensic accountant may be asked to get involved during the discovery stage to help formulate questions. He/she may also be asked to review the report of the opposing expert witness and give an evaluation of its strengths and weaknesses. During trial, the forensic accountant may serve as an expert witness, help to provide questions for cross-examination, and assist with settlement discussions.InvestigationsInvestigations often involve fraud and are associated with criminal matters. Typically an investigative accounting assignment would result from a client's suspicion that there is employee fraud. Employees are responsible for about 75 percent of all fraud; approximately 55 percent of all fraud is discovered as a result of strong internal controls.Fraud is a permanent risk in any and all businesses. Regulatory agencies, police forces and attorneys may retain a forensic accountant to investigate securities fraud, kickbacks, insurance fraud, money-laundering schemes, and asset search and analysis.BUSINESS VALUATION ISSUESBusiness valuation is a discipline unto itself. The forensic accountant needs additional education in business appraisal theory and science beyond typical accounting training. Because business appraisal is a specialized discipline, a separate designation, Accredited Business Valuation (ABV), is awarded after passing a comprehensive examination. To maintain the ABV designation, continuing education is required.The well informed forensic accountant can provide invaluable service with regard lo business appraisal and the numerous issues that can and do arise. The existence of buy-sell agreements and purchase offers from third parties, for example, can impact the appraisal process and evaluation. For the forensic accountant of today, the education process does not stop. Business valuation is an evolving science. You must constantly be on the alert for new developments to continue to be an effective provider of service to the legal community.It is worth mentioning that the forensic investigation is important to establish what the true income of the business is. What you see in the published income statement may not paint the real picture of the earnings of the business.Nothing from college training, experience in public accounting, or employment in private industry can completely prepare a forensic accountant for the variety of emotional levels displayed in litigious situations, especially when substantial sums of money are involved. Even though some things may appear trivial, they are not to the litigants. When you are on the "wrong" side of a case, whatever you say about the value of a business or the extent of the impact of questionable activities is going to be suspect. Of course, if you come up with the wrong "answers" for your client, he/she may be upset with you as well.It is very important that a forensic accountant be able to deal with people involved in emotionally charged situations. Only experience brings that ability. Experience linked with strong communication skills goes a long way in being able to be effective with a variety of people and their attitudes.SKILLSWhat skills do forensic accountants need to provide litigation support to attorneys and to conduct investigations to assist their clients?One of the most important skills is experience in a career gained from working day to day . We all have acquired skills in accounting and auditing, taxation, business operations and management, internal controls, interpersonal relationships, communication, and, without claiming backgrounds in psychology, people. It is a matter of maturing in the profession. Knowledge of how businesses operate and of effective systems of internal controls and procedures are critical. Knowledge must be both technical and practical.The education process never ends. The expert who knows everything is dangerous. A closed mind will ultimately spell disaster to all involved.The training one gets in dealing with people who no longer like each other is invaluable. The forensic accountant is going to make someone unhappy. That person could be your own client. But a forensic accountant still must be able to get information from "friend" and "foe" alike. Granted, you may get help from the attorney and the court. However, any experienced forensic accountant becomes somewhat of an expert in dealing with diverse and opposing personalities. This takes skill and lots of time. Emotions often run high.At the end of the day, communicating results in an understandable form to the client and attorney is the most important ingredient for success. Communications take many forms: written report, oral report, telephone conversations with various parties, giving testimony at deposition and trial, conference calls with the court, settlement conferences and so on. If you cannot communicate, your knowledge and skills and their application become almost meaningless.In summary, effective forensic accounting requires:• Education and training.• Advanced and continued educ ation in appropriate disciplines, such as business appraisal. • Diversified accounting and auditing experience--public and private.• Communication skills--oral and written.• Practical business experience.• Diversified forensic auditing experience.• Abi lity to work in team environment.• People skills and flexibility.Finally, most important to a forensic accountant is his/her reputation and the attributes of independence and objectivity. Excellent credibility, professional standards, and ethics are essential. Being able to "think straight, talk straight" is a highly desirable attribute for a forensic accountant. Your next job depends on your last performance and your reputation. By Frank J. Grippo, MBA, CPA and J. W. "Ted" Ibex, MBA, CPA, ABVFrank J. Grippo, MBA, CPA, is Associate Professor, Accounting and Law, at William Patterson University in Wayne, NJ. J.W. (Ted) Ibex, MBA, CPA, ABV, is a partner in Rosenfarb Winters, LLC, located in Tinton Falls, NJ.Copyright of National Public Accountant is the property of National Society of Accountants and its content may not be copied or e-mailed to multiple sites or posted to a listserv without the copyright holder`s express written permission. However, users may print, download, or e-mail articles for individual use.Source: National Public Accountant, Jun2003, p4, 2pItem: 9900945。
会计专硕复试英语专业词汇全文共四篇示例，供读者参考第一篇示例：会计专业是一个重视实践能力和专业知识的领域，而会计专业研究生的复试过程更是挑战性十足。
在复试中，英语是一个必不可少的组成部分，因此熟悉一些与会计相关的英语专业词汇是至关重要的。
下面我们来看一份关于会计专硕复试英语专业词汇的列表，希望对大家有所帮助。
1. Accounting Standards 会计准则2. Financial Statements 财务报表3. Cost Accounting 成本会计4. Auditing 审计5. Taxation 税务6. Budgeting 预算7. Internal Control 内部控制8. Forensic Accounting 司法会计9. International Financial Reporting Standards 国际财务报告准则10. Financial Analysis 财务分析11. Cash Flow 现金流量12. Balance Sheet 资产负债表13. Income Statement 损益表14. Account Receivable 应收账款15. Account Payable 应付账款16. Audit Report 审计报告17. Tax Return 税务申报18. Depreciation 折旧19. Profit Margin 利润率20. Break-even Point 盈亏平衡点以上是一些常见的与会计专业相关的英语专业词汇，希望可以帮助大家在会计专硕复试中更顺利地表现自己的专业素养和英语水平。
祝大家复试顺利，考试成功！第二篇示例：会计专业是一个非常重要的领域，而会计专硕复试英语专业词汇是我们在准备复试时必须要掌握的关键词汇。
下面将为大家列举一些常见的会计专硕复试英语专业词汇，帮助大家更好地备战复试。
1. Accounting Standards 会计准则2. Financial Statements 财务报表3. Audit 审计4. Taxation 税务5. Budgeting 预算6. Internal Controls 内部控制7. Cost Accounting 成本会计8. Forensic Accounting 司法会计9. Management Accounting 管理会计10. Accounting Information System 会计信息系统11. Asset 资产12. Liability 负债13. Equity 所有者权益14. Revenue 收入15. Expenses 费用16. Cash Flow 现金流量17. Balance Sheet 资产负债表18. Income Statement 损益表19. Statement of Cash Flows 现金流量表20. Financial Ratios 财务比率21. Depreciation 折旧22. Amortization 摊销23. Goodwill 商誉24. Inventory 存货25. Equity Financing 股权融资以上列举的会计专硕复试英语专业词汇只是其中的一部分，复试过程中还会涉及到更多的词汇和概念。
