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Financial Statement Fraud Case

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Select an article from the internet that details a financial statement fraud case and discuss how the details of the case identified in the article meet the definition of financial statement fraud.

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The solution discusses a financial statement fraud case.

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Fraud according to the Black's Law Dictionary (5th ED.) is the "All multifarious (different) means which human ingenuity (inventiveness) can devise, and which are resorted to by one individual to get an advantage over another by false suggestions or suppression of the truth. It includes all surprises, tricks, cunning or dissembling, and any unfair way which another is cheated (www.journalofaccountancy.com). Financial fraud is the intentional act (s) designed to deceive other persons and cause them financial loss (www.thefreelibrary.com). Financial statement fraud is perpetrated by management and it ...

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