BA303 Forensic Accounting and Fraud Detection: Balancing And Reconciling

$20 Bonus + 25% OFF

Securing Higher Grades Costing Your Pocket?
Book Your Assignment at The Lowest Price
Now!

Students Who Viewed This Also Studied

BA303 Forensic Accounting and Fraud Detection

Questions:

Assessment Task Description

You are required to complete the following questions, in your own words*, based on the key materials covered in Chapters 1 to 4 of the prescribed textbook. Types of plagiarism or academic misconduct: Sham Paraphrasing Material has been copied exactly from the source and has been acknowledged with an in-text citation but has not been quoted; There is a reference list. Illicit Paraphrasing Material has been paraphrased from the source without any in-text citation; There is a reference list. Exact Copying Material has been copied exactly from the source without any in-text citation; There is a reference list. No Referencing There is no in-text citations nor a reference list. Collusion Material has been copied from another student’s work; Recycling The same assignment submitted in more than one unit; Contract Cheating The assignment has been written by a third party and the students is claiming it as their own work.

In addition to the Submission Guidelines appearing on page 1, this assessment task is to be completed by individual student. The submission into the assignment drop box in Moodle is to made by ONLY the individual. This assessment task is comprised of four questions, worth 20 marks. Page 1 of your submission MUST be the Assessment Cover Sheet, signed by you (as per page 2 of this document).

Question 1 (6 marks)

Canon Pty Ltd is a large shoe manufacturing business. Its income statement is as follow:

Canon Pty Ltd Income Statement for the Year Ended June 30, 2021
Sales revenue                       $24,000
Less cost of goods sold        $18,000
Gross margin                        $6,000
Expenses                              $3,000
Net income                          $3,000

Tsiaris Pty Ltd is a small accounting firm business. Its income statement is as follows:

Tsiaris Pty Ltd Income Statement for the Year Ended June 30, 2021
Sales revenue            $9,000
Expenses                   $8,000
Net income               $1,000

During the financial year ending 2021, both businesses incurred a $3,000 fraud loss.

Required

(a)How much additional revenue must each business generate to recover the losses from the fraud? 
(2 + 2 = 4 marks)

(b)Why are these amounts different? (1 mark)

(c)Why would it be easier for Jucinta Pty Ltd to generate the additional revenue to recover the fraud losses? (1 mark)

Question 2 (4 marks)

The following fraud occurred in the accounts department of a large mining company. The accounts clerk, Sanjay had become such a hard-working and trusted employee that his bosses had put him in charge of paying bills, balancing and reconciling bank accounts, and handling other cash management chores, including depositing of cash at the local bank. The company didn’t realize their mistake until Sanjay took a sick leave day, and they discovered he had been stealing money for years. The money had helped maintain an extra-marital relationship that included paying rent for a luxury high rise penthouse in the heart of the city and the purchase of a Ferrari. In all, the company claims he stole about one million dollars ($1,000,000).

Sanjay pleaded guilty to one count of theft and four counts of check forgery. He was placed on 10 years’ probation.

Required

(a)What were Sanjay’s opportunities? (1 mark)

(b)What pressure(s) did Sanjay have to commit the fraud? (1 mark)

(c)How did the fact that Sanjay was a trusted employee give him more opportunity to commit fraud? (1 mark)

(d)The third element of the fraud triangle is Rationalization. Provide an example of how Sanjay might have rationalized his perpetration of the fraud. (1 mark)

Question 3 (5 marks)

If you were employed as a fraud examiner consultant, before implementing a fraud prevention program, one of the first assessments is on the culture of the organisation.

Required

(a)List the five critical elements that are the key factors in creating an atmosphere or culture of honesty and high ethics? (5 x ½ mark = 2½ marks)

(b)For each of the five critical elements mentioned in (a), in your own words explain how would you implement these elements in the organisation? (5 x ½ mark = 2½ marks)

Question 4 (5 marks)

(a)There are five different ways in which organizations can eliminate opportunities for fraud. List and in your own words discuss any three. (3 marks)

(b)Jane was the chief accountant in a large organization and the only person responsible for the recording and payment of purchase orders. Over a period of three years, she embezzled over three million dollars ($3,000,000). She took the money by creating false purchase orders and transferring the organization’s payments of these fake purchase orders into her own bank account. Whenever she was questioned about purchase order discrepancies, she usually used the excuse that “it’s a computer error.”

Required 

List and in your own words explain two internal control weaknesses that allowed this fraud to happen? (2 marks)

BA303 Forensic Accounting and Fraud Detection

Answer in Detail


Solved by qualified expert

Get Access to This Answer

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.

Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.

Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.

Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

27 More Pages to Come in This Document. Get access to the complete answer.

If you plan to buy homework online, you will not find a better homework help website in all of Australia than MyAssignmenthelp.com. We have been catering to the homework needs of students, who search the internet for ‘do my homework for me’, for over a decade now, providing them with quality homework for all subjects. So if you want someone who answers your queries of ‘write my homework for me’ or ‘pay someone to do my homework’, contact us.

More BA303 BA303 Forensic Accounting and Fraud Detection: Questions & Answers

N420 Accounting and finance

Although 2020/21 was a successful year, the Hospital Board expressed concern that overheads had risen and concluded that identifying better costing data and cost management should be a priority for 2021/22.  A competitor has recently opened a new facility and as a result there is likely to be p …

View Answer

Management

Prepare a report on your analysis of the case. Your report should identify if there are any deficiencies inherent in the company’s existing costing system and if so explain how activity-based costing could overcome these deficiencies. If, in your analysis, you determine there are no inherent d …

View Answer

Risk Management Plan

In this assignment, you will create a risk management plan. You have a budget of $100,000 and a timeline of six (6) months for the plan. Please refer to Figure A-1, Risk Management Plan Template, from Appendix A (attached) Write an eight to ten (8-10) page Risk Management Plan Component paper in whi …

View Answer

Business Management

Bus 301 integrated capstone project …

View Answer

Content Removal Request

If you are the original writer of this content and no longer wish to have your work published on Myassignmenthelp.com then please raise the
content removal request.

Choose Our Best Expert to Help You

Still in Two Minds? The Proof is in Numbers!

33845 Genuine Reviews With a Rating of 4.9/5.

Biology

Assignment: 1 Page, Deadline:
5 days

Great work thank you, I am grateful The response was quick, the effort was great, You can see the person put effort and time. I would recommend again

User ID: 8***94 Ireland

Management

Thesis: 6.4 Pages, Deadline:
2 days

great work fast reply easy and understanding contenti am working with you for 1 year and you keep helping me diploma and now PhD

User ID: 4***28 Doha, Qatar

Psychology

Home Work: 2.4 Pages, Deadline:
2 hours

I was able to receive help in less than 3 hours!! Such good customer service!! Well written and made sense!

User ID: 8***08 United States

Healthcare

Essay: 8 Pages, Deadline:
6 days

Highly recomended. With a good explanation and elaboration. They Alyways help and will do the best for the task.

User ID: 7***74 Malaysia

Psychology

Assignment: 4 Pages, Deadline:
9 days

I look forward to receiving a good grade for the following assignment. Thank you for your assistance.

User ID: 7***29 Australia

Assignment

Thesis: 3.6 Pages, Deadline:
4 days

thanks for the assistance of my assignment. I look forwards to getting the final results.

User ID: 7***29 Australia

Economics

Programming: 6 Pages, Deadline:
12 days

Thank you so much for your support. The answers were related and hopefully will attract the doctor to give me a grade.

User ID: 5***87 Jeddah, Saudi Arabia

English

Essay: 1 Page, Deadline:
14 days

Language is my weakness. But I got help from you and that made it easy to get marks that i want.

User ID: 8***70 Canada

English

Essay: 0.8 Pages, Deadline:
4 days

I really appreciate the work that you have done for me. I got passing mark only because of you guys.

User ID: 8***70 Canada

Assignment

Assignment: 4 Pages, Deadline:
5 days

My assignment helper is so amazing, she did my work before my requirement dead line.

User ID: 8***98 United States

Biology

Assignment: 1 Page, Deadline:
5 days

Great work thank you, I am grateful The response was quick, the effort was great, You can see the person put effort and time. I would recommend again

User ID: 8***94 Ireland

Management

Thesis: 6.4 Pages, Deadline:
2 days

great work fast reply easy and understanding contenti am working with you for 1 year and you keep helping me diploma and now PhD

User ID: 4***28 Doha, Qatar

Psychology

Home Work: 2.4 Pages, Deadline:
2 hours

I was able to receive help in less than 3 hours!! Such good customer service!! Well written and made sense!

User ID: 8***08 United States

Healthcare

Essay: 8 Pages, Deadline:
6 days

Highly recomended. With a good explanation and elaboration. They Alyways help and will do the best for the task.

User ID: 7***74 Malaysia

Psychology

Assignment: 4 Pages, Deadline:
9 days

I look forward to receiving a good grade for the following assignment. Thank you for your assistance.

User ID: 7***29 Australia

Assignment

Thesis: 3.6 Pages, Deadline:
4 days

thanks for the assistance of my assignment. I look forwards to getting the final results.

User ID: 7***29 Australia

Economics

Programming: 6 Pages, Deadline:
12 days

Thank you so much for your support. The answers were related and hopefully will attract the doctor to give me a grade.

User ID: 5***87 Jeddah, Saudi Arabia

English

Essay: 1 Page, Deadline:
14 days

Language is my weakness. But I got help from you and that made it easy to get marks that i want.

User ID: 8***70 Canada

English

Essay: 0.8 Pages, Deadline:
4 days

I really appreciate the work that you have done for me. I got passing mark only because of you guys.

User ID: 8***70 Canada

Assignment

Assignment: 4 Pages, Deadline:
5 days

My assignment helper is so amazing, she did my work before my requirement dead line.

User ID: 8***98 United States

Have any Query?

GET HELP WITH YOUR HOMEWORK PAPERS @ 25% OFF

For faster services, inquiry about  new assignments submission or  follow ups on your assignments please text us/call us on +1 (251) 265-5102

Write My Paper Button

WeCreativez WhatsApp Support
We are here to answer your questions. Ask us anything!
👋 Hi, how can I help?
Scroll to Top