country
$20 Bonus + 25% OFF
Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!

Question:

Discus about the Detecting Asset Misappropriation.
 
 

Answer:

Article Summary

On the basis of selected research article, it is summarized that, in the current time, business firms are facing a serious of financial accounting issues and challenges that directly and indirectly reducing the firm’s profit, sales, revenue and decreasing reputation in the global business environment. In this research article, the author had explained that, today, corporate fraud is one of the major issue facing companies or firms. Moreover, fraud is also considered a major concern for all the regulators, inventors and external auditors. In addition to this, it is also suggested by the author that, misappropriation of assets within corporate environment is one of the major and common types of occupational fraud. It is also a most common ethical issue in the financial accounting. It is the all about the misuse of a company’s assets. If the assets are used for any purpose than company interest, it would be called assets misappropriation (Kassem, 2014).

At the same time, in this study, the author had summarized various types of fraud that negatively affect the success of a company. For case, it is explained by the author that, fraud may be internal and external fraud. Internal fraud is basically done and committed by the organizational people within the company. In contrast, the external fraud is the committed by the employees of a company outside the firms and such fraud includes investment fraud, customer fraud, vendor’s fraud, investor’s fraud. Hence, internal fraud is also called occupational fraud or corporate fraud.  At the same time, the author had explained that, if anyone does misuse organizational assets or resource, it would be called misuse of assets or fraud (Johnson, and Rudesill, 2001). At the same time, the author had classified the types and main categories of fraud such as: financial reporting fraud, asset misappropriation, corruption etc. 

 


Additionally, it is suggested by the author that, the internal frauds comes before the external fraud and this is one of the most common and frequent types of fraud. Moreover, it is also suggested that, in order to deal with such fraud, the auditors of the company should examine the factors that are responsible for the fraud. In this study, the author had also discussed and explained the major duties, responsibilities and role of an auditor in dealing with such fraud issues.  Apart from this, in order to understand the impact, types and concepts of internal and external fraud, the author had analyzed and discussed the case of Egypt in his study. In the same way, in this study, the researcher had explained and analyzed various categories of the misappropriation of assets and provided suggestion about how to control such issues (Hogan, Rezaee, Riley, and Velury, 2008). For case, it is explained by the researcher in the study that, misappropriation is an illegal and unethical act of stealing an asset of a company for personal use at the company’s expense or misuse of a company’s resources. Additionally, several causes of asset misappropriation are discussed and summarized in this article by the author. Finally, the author had critically proposed framework of detecting asset misappropriation (Kassem, and Higson, 2012).

Analysis/Critique

Strengths of Published Article: 

The major strength of the research article is that, it provides a clear description about the various types of financial accounting issues.

  1. This study is providing information about the types of fraud, categories of asset misappropriation.
  2. This research article is also directly related with the financial accounting issues such as: misappropriation of assets (Srivastava, Mock, and Turner, 2009).
  3. This research article examines various areas of asset misappropriation that had never been examined and this could be used for the further research (Wells, 2004).
  4. This study is also more valuable and significant for the readers in understanding the nature of frauds and their classification.
  5. This research/publish articles suggests a specific framework that could be used by the external auditor in order to deal with the financial accounting issues.
  6. The author used literature, questionnaire, and a semi-structured interview to conduct the study that is important in addressing the research question and solve the research problem (Dahawy, Shehata, and Ransopher, 2010).

Weaknesses of the Published Article:

The main weaknesses of the published article are listed as below:

  1. In this study, the author had mainly focused on secondary method of data collection by ignoring the primary method of data collection
  2. Lack of graphical representation of information is also a major weakness of the study
  3. The study indicates that there are no clear research questions, research objectives and research gaps in the study that affected the outcomes of the study (Wells, 2004).
  4. In the research, the researcher had used more complicated sampling techniques to collect the sample
  5. No statistical and mathematical models of financial accounting are used to present the study by the author that is main limitation of the study conducted by the author (Pedneault, 2004).
 

Implications to the Accounting Profession:

The research done by the author has several implications for the Accounting profession. For case, the study could be used by the accountants, auditors and financial managers in order to understand and analyze the nature, types, classification, concepts related to red flags, fraud detection techniques, occupational fraud, audit procedures,  audit expectation gap, audit quality,  audit risk etc (Shelton, Whittington, and Landsittel, 2001).

In addition, this, the accounting professional could also understand the impact of fraud not only on the firm’s performance but also on the individual performance. Moreover, the auditors could also understand their roles and functions in avoiding of different kinds of frauds. For instance, this research study is provide a clear direction to the people related to the accounting profession that what are the major causes that are responsible for the fraud in the organizations (Srivastava, Mock, and Turner, 2009).

Furthermore, this study is also provides opportunity to the accountants or auditors about how to follow specific process to avoid fraud. On the other hand, the accounting people would also be able to understand and analyze the current financial accounting issues that faced by the business firms and their negative impact on the firm’s reputation as well as productivity. In the same way, the accounting people would be able to understand the financial accounting concepts, issues, problems. Along with this, this study can also help the internal and external auditors in understanding their roles and functions in maintaining the audit quality by using several audit process, methods and techniques (Pedneault, 2004). 

Relevance to the Unit – Financial Accounting Theory:

The research study conducted by the researcher is directly related to the course unit of financial accounting theory.

  1. During the study of course, it is studied that, there are various types of fraud exits within a company that create serious issues in the front of the companies.
  2. Moreover, it is also studied during the course work that, various specific and dynamic fraud detection techniques could be used by the auditor or company to deduct the fraud (Wells, 2005). In addition to this, it is also important to know that, the nature and categories of asset misappropriation aspect of the research article is directly related with the core unit financial accounting theory. For instance, at the time of classroom session, it is studied that frauds may be different in the nature and impact (Wells, 2004).
  3. Additionally, all the types of frauds have negative impact on the organizational financial situation and create a lot of challenges in the front of companies.
  4. Data analysis and research results part of the research article is also relevant with the unit. For case, it is acknowledged that, there are several methods and techniques could be adopted by a company in order to deal with the fraud issues (Johnson, and Rudesill, 2001).
  5. Finally, the Red flag for skimming schemes addressed in the article is also related with the course unit. During the classroom studies, different types of skimming schemes are learned.    
 

Recommendation

On the basis of above discussion, it can be recommended that, the auditors/researcher should use primary method properly and effectively to collect the fresh, real and accurate information in order to fulfill the aims and objectives of the study. Additionally, it can also be said that, the researcher should conduct the study through the mixed research method (primary and secondary).  Moreover, the researcher should also design research questions, research problems and research objectives separately in order to reach valid outcomes (Srivastava, Mock, and Turner, 2009). On the other hand, the researcher should also identify the gaps in the research. Finally, the researcher must also adopt statistical and mathematical models to test the study. Overall, the researcher should adopt the suggested methodologies in order to avoid above identified weaknesses. 

 

Conclusion

On the basis of above discussion, it can be concluded that, this research study provides detailed summary of the article that improve understanding about the issues of financial accounting and their impact on firm’s performance. At the same time, it is also concluded that, there are several strengths and weaknesses of the research article that would provide description about the major objective of the study. Moreover, the implication of the article with regards to the Accounting Profession is also analyzed to fulfill the aims of the study. Finally, it can be concluded that, the selected research article is related to the unit such as: Financial Accounting Theory. Finally, this research study provides recommendations to overcome the issues related to financial accounting. 

 

References

Dahawy, K., Shehata, N.F. and Ransopher, T. (2010). ‘The state of accounting in Egypt: a case’, Journal of Business Cases and Applications, 1(3), pp.1–12.

Hogan, C.E., Rezaee, Z., Riley, R. and Velury, U.K. (2008). ‘Financial statement fraud: insights from the academic literature’, Auditing: A Journal of Practice & Theory, 27( 2), pp.231–252.

Johnson, G.G. and Rudesill, C.L. (2001). ‘An investigation into fraud prevention and detection of small businesses in the United States: responsibilities of auditors, managers, and business owners’, Accounting Forum, 25(1), pp. 14-75.

Kassem, R. (2014). Detecting asset misappropriation: a framework for external auditors. International Journal of Accounting, Auditing and Performance Evaluation (IJAAPE), 10(1), pp. 1-42.

Kassem, R. and Higson, A.W. (2012). ‘Financial reporting fraud: are external auditors and standards’ setters doing enough?’, International Journal of Business and Social Sciences, 3(19), pp.283–290.

Pedneault, S.A. (2004). ‘Yes, auditors can stop fraud, if they know what to look for, White Collar Crime Fighter, 6(8), pp.1–3.

Shelton, S.W., Whittington, O.R. and Landsittel, D. (2001). ‘Auditing firms’ fraud risk assessment practices. Accounting Horizons, 15(1), pp.19–33.

Srivastava, R.P., Mock, T.J. and Turner, J.L. (2009). ‘Bayesian fraud risk formula for financial statement audits’, Abacus. A Journal of Accounting, Finance, and Business Studies, 45(1), pp. 66–80.

Wells, J.T. (2005). Principles of Fraud Examination. New York: John Wiley and Sons.

Wells, J.T. (2004). Occupational Fraud and Abuse. Australia: Obsidian Publishing.

OR

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2018). Detecting Asset Misappropriation. Retrieved from https://myassignmenthelp.com/free-samples/detecting-asset-misappropriation.

"Detecting Asset Misappropriation." My Assignment Help, 2018, https://myassignmenthelp.com/free-samples/detecting-asset-misappropriation.

My Assignment Help (2018) Detecting Asset Misappropriation [Online]. Available from: https://myassignmenthelp.com/free-samples/detecting-asset-misappropriation
[Accessed 30 March 2020].

My Assignment Help. 'Detecting Asset Misappropriation' (My Assignment Help, 2018) <https://myassignmenthelp.com/free-samples/detecting-asset-misappropriation> accessed 30 March 2020.

My Assignment Help. Detecting Asset Misappropriation [Internet]. My Assignment Help. 2018 [cited 30 March 2020]. Available from: https://myassignmenthelp.com/free-samples/detecting-asset-misappropriation.


Getting academic assistance from MyAssignmenthelp.com is a wise decision. Many students, finding the answer to their queries 'who will Do my essay for cheap' are likely to find our services useful and beneficial. They no longer need to waste their time in typing 'can someone write my essay at cheap price', instead they can hire our cheap essay writers to complete the due papers perfectly within given deadline.

Latest Accounting Samples

HI5020 Corporate Accounting And Section Headings

Download : 0 | Pages : 14
  • Course Code: HI5020
  • University: Holmes Institute
  • Country: Australia

Answer: Introduction Corporate Accounting is a special branch of accounting which deals with the accounting of companies by preparing the final statement. It also analyse the financial results of the companies and accounting for the specific events like amalgamation, absorption, preparation of consolidated balance sheet. It is a process of accounting that calculates the operations of a single company. The company uses this process in order to...

Read More arrow

BUACC1508 Principles Of Accounting And Finance

Download : 0 | Pages : 12
  • Course Code: BUACC1508
  • University: Federation University
  • Country: Australia

Answer: Background: Company overview of Billabong International Limited Billabong International Limited is an outdoor clothing retailer in relation to surf clothing, which has been established in Gold Coast, Australia in 1973. The focus of the organisation is on the youth culture and it is dominated by causal lifestyle and the board sports (Billabong.com, 2019). After the completion of the shareholding system, the organisation has been listed...

Read More arrow

HA2011 Managerial Accounting And Cost Policy Deployment

Download : 0 | Pages : 15

Answer: Introduction: In this study we are focusing on the discussion of various aspects of standard costing. For fulfilling this purpose we have taken into consideration Orica Limited. This company is based in Australia. The organisation has over 11,500 employees and contractors. The ICI house now known as the Orica house was one of the tallest buildings in (East Melbourne), during the year 1950. This building was one of the very first tall ...

Read More arrow

ACC03043 Corporate Governance 2

Download : 0 | Pages : 11

Answer: Covering Letter To Date: 22 January 2019 The Board of Directors Subject: - Recommendations on the application of cyber resilience protocols Respected Sirs/ As asked by you, i have prepared a report on the matter of cybersecurity and resilience protocol of organization. The report is attached herewith as Annexure “A” and it is to hope that the same would fulfill the purpose. Thanking you Anni Watson Corporate Governa...

Read More arrow

BSBFIM501 Financial Management

Download : 0 | Pages : 5
  • Course Code: BSBFIM501
  • University: Victoria University
  • Country: Australia

Answer: Part A The three major types of commercial outlines has been described here-in-below: Company: The Company is a separate legal entity distinct from its owner. There are generally two types of company i.e. Private limited and public limited. Under, this structure the owners have a limited liability up until the face value of shares in case of shares is partly paid. The other advantages includes large pooling of resources and numerou...

Read More arrow
Next
watch

Save Time & improve Grades

Just share your requirements and get customized solutions on time.

question
We will use e-mail only for:

arrow Communication regarding your orders

arrow To send you invoices, and other billing info

arrow To provide you with information of offers and other benefits

1,236,324

Orders

4.9/5

Overall Rating

5,066

Experts

Our Amazing Features

delivery

On Time Delivery

Our writers make sure that all orders are submitted, prior to the deadline.

work

Plagiarism Free Work

Using reliable plagiarism detection software, Turnitin.com.We only provide customized 100 percent original papers.

time

24 X 7 Live Help

Feel free to contact our assignment writing services any time via phone, email or live chat.

subject

Services For All Subjects

Our writers can provide you professional writing assistance on any subject at any level.

price

Best Price Guarantee

Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.

Our Experts

Assignment writing guide
student rating student rating student rating student rating student rating 5/5

416 Order Completed

95% Response Time

Tyler Moore

MBA in Accounting

Washington, United States

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

1265 Order Completed

97% Response Time

James Cook

Masters in Management

Wellington, New Zealand

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

453 Order Completed

98% Response Time

Howard Asuncion

LLM in Criminal Law

London, United Kingdom

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

1592 Order Completed

96% Response Time

Jane Sima

Ph.D in Psychology with Specialization in Industrial-Organizational Psychology

Singapore, Singapore

Hire Me

FREE Tools

plagiarism

Plagiarism Checker

Get all your documents checked for plagiarism or duplicacy with us.

essay

Essay Typer

Get different kinds of essays typed in minutes with clicks.

edit

GPA Calculator

Calculate your semester grades and cumulative GPa with our GPA Calculator.

referencing

Chemical Equation Balancer

Balance any chemical equation in minutes just by entering the formula.

calculator

Word Counter & Page Calculator

Calculate the number of words and number of pages of all your academic documents.

Refer Just 5 Friends to Earn More than $2000

Check your estimated earning as per your ability

1

1

1

Your Approx Earning

Live Review

Our Mission Client Satisfaction

Awesome write up for my assignment!!! Worth the money paid!!! Will come back .....

flag

User Id: 372486 - 30 Mar 2020

Australia

student rating student rating student rating student rating student rating

I really appreciate how the editor understood what I really meant to say thus making me feel more confident in submitting my work. I am an extremely happy customer. I will definitely sen un update on my grade.

flag

User Id: 393526 - 30 Mar 2020

Australia

student rating student rating student rating student rating student rating

Excellent work. We got total of 68 marks and we are very satisfied with the score. We gave this assignment near to deadline which is 2 days before due date. The assignment was about 4000 words and they did it well and gave it before 8 hours of submis...

flag

User Id: 393410 - 30 Mar 2020

Australia

student rating student rating student rating student rating student rating

I can\'t complain, speedy service and got the assignment before the deadline and got full mark

flag

User Id: 331157 - 30 Mar 2020

Australia

student rating student rating student rating student rating student rating
callback request mobile
Have any Query?