Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

6. Internal Controls and Reporting Cash

Fraud and the Fraud Triangle

Financial Accounting

6. Internal Controls and Reporting Cash

Fraud and the Fraud Triangle

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Multiple Choice

Which term best describes an accountant who combines accounting expertise with investigative skills to detect and prevent fraud?

Management accountant

Cost accountant

Forensic accountant

Tax auditor

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Verified step by step guidance

Understand the role of each type of accountant mentioned in the problem: Management accountants focus on internal financial processes and decision-making, cost accountants analyze costs for budgeting and efficiency, tax auditors review tax compliance, and forensic accountants specialize in investigating financial fraud and disputes.

Recognize that the term 'forensic' refers to activities related to investigation and legal proceedings, which aligns with the task of detecting and preventing fraud.

Consider the investigative skills required to uncover fraudulent activities, which are unique to forensic accountants compared to other types of accountants.

Note that forensic accountants often work closely with law enforcement and legal teams to provide evidence and expert testimony in cases of financial fraud.

Conclude that the term 'forensic accountant' best describes an accountant who combines accounting expertise with investigative skills to detect and prevent fraud.