Forensic Accounting class discussion Assignment Example | Topics and Well Written Essays - 250 words

Forensic Accounting class discussion - Assignment Example Software applications use a combination of functions, some of which include sorting, joining files, as well as record selection and extraction among others. Sorting entails arrangement of the data in some order, which can be regarded as meaningful; this may include the customer number, date, name, and amount. Joining files entails the gathering of various parts of different files of data. Record selection and extraction entails making a request for the computer to find occurrences in a certain field, which matches a criterion that interests the investigator (Kranacher, Riley & Wells, 2011). Skimming involves the stealing of cash from an entity before it enters into the accounting system. Sales skimming is referred as an â€Å"off-book† fraud since the cash is stolen from the victim before its recording in books of the victim (Kranacher, Riley & Wells, 2011). Fraudsters may use various techniques with the sole aim of concealing a receivables scheming scheme. One of the techniques used to conceal this form of fraud includes the creation of fake accounts. The write-off of inventories is also another method used to conceal a receivables scheming scheme (Kranacher, Riley & Wells, 2011). The difference between skimming and cash larceny is that skimming entails the stealing of cash before the recording of the cash. As a result, it becomes one of the difficult frauds to detect. On the other hand, cash larceny involves the theft of cash by employees after its recording in the books of the entity. As such, larceny is can easily be detected than skimming (Kranacher, Riley & Wells,