CFE 1 PREP EXAM Financial Transactions and Fraud Schemes

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About Course

This section tests your comprehension of the types of fraudulent financial transactions incurred in accounting records. In this section of the exam, you will be required to demonstrate knowledge of the following concepts:

  • Basic accounting and auditing theory
  • Fraud schemes
  • Internal controls to deter fraud
  • Other auditing and accounting matters

What Will You Learn?

  • Understand Financial Fraud:
  • Gain a comprehensive understanding of the various types of fraud schemes, including asset misappropriation, bribery, and financial statement fraud.
  • Understand how fraud impacts businesses financially and operationally.
  • Identify Fraud Schemes:
  • Recognize the red flags and behavioral indicators associated with different fraud schemes.
  • Learn classification methods such as the Fraud Tree, which organizes fraud schemes into distinct categories.
  • Detect and Prevent Fraud:
  • Learn techniques for detecting fraudulent activities by leveraging auditing processes, interviews, and forensic tools.
  • Understand how to develop and implement robust internal controls to prevent fraud.
  • Analyze Financial Data for Fraud:
  • Understand how fraudsters manipulate financial transactions and records to perpetrate fraud.
  • Acquire technical skills to identify irregularities in financial statements and records.
  • Understand the Fraud Triangle:
  • Learn the three primary factors that lead to fraud: Pressure, Opportunity, and Rationalization.
  • Investigate Fraud:
  • Learn the key steps in fraud investigations, including evidence collection, forensic accounting, and documenting findings.
  • Utilize Legal and Ethical Frameworks:
  • Understand the legal considerations and ethical principles surrounding fraud examination and investigations.
  • Master the CFE Exam Content for Part 1:
  • Become familiar with exam-aligned concepts, terminology, and case studies.
  • Prepare effectively to meet the ACFE's required standards for certification.

Course Content

Financial Transactions and Fraud Schemes
This section tests your comprehension of the types of fraudulent financial transactions incurred in accounting records. In this section of the exam, you will be required to demonstrate knowledge of the following concepts: Basic accounting and auditing theory Fraud schemes Internal controls to deter fraud Other auditing and accounting matters

  • CFE en 1.1 ACCOUNTING CONCEPTS
  • CFE en 1.1 part 2 ACCOUNTING CONCEPTS
  • Accounting Concepts
  • CFE en 1.2 FINANCIAL STATEMENT FRAUD
  • Financial Statement Fraud
  • CFE en 1.3 ASSET MISAPPROPRIATION: CASH RECEIPTS
  • Asset Misappropriation: Cash Receipts
  • CFE en 1.4 ASSET MISAPPROPRIATION: FRAUDULENT DISBURSEMENTS
  • Asset Misappropriation: Fraudulent Disbursements
  • CFE en 1.5 ASSET MISAPPROPRIATION: INVENTORY AND OTHER ASSET
  • Asset Misappropriation:
  • CFE en 1.6 BRIBERY AND CORRUPTION
  • Corruption
  • CFE en 1 7 THEFT OF DATA AND INTELLECTUAL PROPERTY
  • Theft of Data and Intellectual Property
  • CFE en 1 8 IDENTITY THEFT
  • Identity Theft
  • CFE en 1 9 FINANCIAL INSTITUTION FRAUD
  • 1.10 PAYMENT FRAUD
  • Payment Fraud
  • 1.11 INSURANCE FRAUD
  • Insurance Fraud
  • 1.12 HEALTH CARE FRAUD
  • Health Care Fraud
  • 1.13 CONSUMER FRAUD
  • Consumer Fraud
  • 1.14 COMPUTER AND INTERNET FRAUD
  • Cyberfraud
  • 1.15 CONTRACT AND PROCUREMENT FRAUD
  • Contract and Procurement Fraud
  • Financial Institution Fraud
  • notes
  • QUIZ

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