ACC302 FORENSIC ACCOUNTING ASSIGNMENT HELP

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FORENSIC ACCOUNTING ASSIGNMENT HELP

Welcome to the best website for accounting assignment help, for college and university assignments. If you are looking for high quality assignment help for any forensic accounting topic including investigation, litigation, prevention & reporting of financial fraud, preventing white-collar crime, preventing tax evasion, enforcing compliance with tax laws, identifying deliberate misrepresentation of financial statements, securities fraud & more, you are in the right place. Also get full assignment help for ACC302 auditing & assurance course of Pace University from our best experts. We deliver high-quality college assignment help with guaranteed top scores.

ACC302 forensic accounting assignment help

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WHAT IS FORENSIC ACCOUNTING? FORENSIC ACCOUNTING ASSIGNMENT HELP

Forensic accounting, also referred to as financial forensics and forensic accountancy is a special practice discipline of accounting that tends to investigate the involvement of firms in financial reporting misconduct, legal violations, regulatory deviations, contractual breaches, financial manipulation, and other fraudulent activities. This investigation of financial theft is carried out through conducting detailed research and interpretation of financial statements, accounting records, and other related financial information. In forensic accounting, auditing, accounting, and investigative skills are utilized to examine, summarize and interpret the complex financial matters of a business or individual. The accounting analysis developed by financial accounting aligns with the legal proceeding and resolves all the conflicts.

Forensic accounting employs tracing funds, due diligence reviews, asset recovery, and identification in embezzlement and fraud cases in order to delve into the real nature and cause of the financial crime, frauds, and disputes between shareholders. Insurance industries adopt forensic accounting techniques to prepare litigation in order to understand the damages from claims. Forensic accounting techniques are generally adopted by banks, attorneys, police departments, and businesses to critically examine all the financial transactions and later formulate a complete report to present as a witness. Forensic accounting basically merges four major components, as follows:

COMPONENTS OF FORENSIC ACCOUNTING ASSIGNMENT HELP

Litigation Support Services: Litigation support refers to the process of providing consultation and support to attorneys or related parties in terms of current or any pending cases. Litigation support services carry out all the court-related activities within the law firm to prepare the lawyer for the real trial. These services include reviewing the documents, interviewing the witnesses, preparing the case file and summarizing the case, etc. Litigation support services also deal with organizing and managing the documents for production and review.

Investigate Auditing: Investigative auditing refers to the process of preventing, detecting, and interpreting fraud, corruption, terror finance, and money laundering. Investigative auditing basically deals with scrutinizing all the financial records, examining all the accounts, and employing accounting techniques to identify financial irregularities, trace the suspects, obtain accurate evidence and determine the flow of funds within the organization.

Criminology: The discipline that studies any crime from a social view is referred to as criminology. It explores not only the crime but also the impact of crime on society, the real cause behind the crime, and the suspects of the crime. This study is basically focused on understanding the mentality of the criminals by determining the underlying reasons that might turn an individual towards crime. It also delves into why certain areas witness most of the crimes and how specific areas remain crime-free and the effect of crime on victims.

Accounting: The method of recording all the financial transactions of a business entity is referred to as accounting. Accounting includes summarizing, interpreting, and reporting the transactions that are made between the company and oversight agencies, tax collection entities, and regulators. Financial accounting employs financial statements, a concise summary of all the financial transactions over the accounting period in order to keep a record of and summarize the operations of a company, cash flows, and financial position

TYPES OF FORENSIC ACCOUNTING

BECOME A FORENSIC ACCOUNTANT

Financial Accounting is used by business owners, stakeholders and shareholders to make business decisions. Accounting assignment helpers also explain that the accounting information provided by experts help the business owners and sharholders know about the cost of various business operations. Based on this financial accounting information, business owners can then decide which potential business path to follow to maximize income or where to deploy funds for more opportunities. They will also get to know about how much profit or loss they are making in which particular line of business.

In forensic accounting, you will learn about the following topics:

PROCEDURES OF FORENSIC ACCOUNTING

Mapping out the investigation: With the final result or end in mind, forensic accountants map out a master plan which will guide them throughout the entire process of research and analysis.

Gathering evidence to support the case: The specialized skill sets of forensic accountants and the tools and techniques used allow them to interpret and analyze the complex financial issues which are generally covered by the perpetrator.

Prepare the report: After gathering all the vital information, forensic accountants formulate a comprehensive report with all the details described in a clear and orderly manner.

Testify in court: Forensic accountants collect all the information, interpret them and then serve as testifying experts in court trials, the reports act as highly credible evidence as it explains all the findings and data in a clear and orderly manner.

REQUIREMENTS TO BECOME A FORENSIC ACCOUNTANT

Forensic accountants are the experts who are equipped with adequate training to handle real business situations rather than just numbers. They amalgamate their accounting knowledge and investigation skills to work on compiling financial evidence and visual aids to support the court hearings, developing the computer applications in order to handle the gathered information and further communicate the results. The demand for forensic accountants is increasing rapidly due to the increase in awareness and intolerance towards fraudulent activities. The job of a forensic accountant is very crucial for financial safety and security; hence financial accountants must be equipped with certain skills and prerequisites, including investigation, auditing, problem-solving, and decision-making skills.

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auditing & assurance assignment help

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forensic accounting assignment help
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