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 of the following is NOT one of the three elements of the fraud triangle?

Rationalization

Opportunity

Pressure

Liquidity

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Verified step by step guidance

Understand the concept of the fraud triangle, which is a framework used to explain the factors that lead to fraudulent behavior. The three elements are: Rationalization, Opportunity, and Pressure.

Rationalization refers to the mindset or justification a person uses to convince themselves that committing fraud is acceptable.

Opportunity refers to the circumstances or situations that allow a person to commit fraud without being detected.

Pressure refers to the external or internal forces that motivate a person to commit fraud, such as financial difficulties or unrealistic performance expectations.

Liquidity is not part of the fraud triangle. It is a financial term that refers to the ability of a company or individual to meet short-term obligations, and it is unrelated to the fraud triangle framework.