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June 27, 2007
by yosako

What is accounting fraud?

Accounting fraud is a deliberate and improper manipulation of the recording of sales revenue and/or expenses in order to make a company’s profit performance appear better than it actually is. Some things that companies do that can constitute fraud are: – Not listing prepaid expenses or other incidental assets – Not showing certain classifications of current assets and/or liabilities – Collapsing short- and long-term debt into one amount.