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The Association of Certified Fraud Examiners (ACFE) has developed a fraud tree which categorizes types of fraud schemes into the following three primary areas:

  • Corruption
  • Asset Misappropriation
  • Financial Statement (FS) Fraud

Previous courses have addressed corruption and asset misappropriation related to fraudulent disbursements and financial statement fraud.   This course will address asset misappropriation – specifically cash on hand and cash receipts.

To identify how fraud can be mitigated, individuals must understand the types of fraud most prevalent to their business.  Asset misappropriation is a scheme in which an employee steals or misuses the employing organization’s resources. For asset misappropriation – cash on hand and cash receipts - this course delves into various components that impact these categories.

 

Learning Objectives

  • Explore the types of asset misappropriation.
  • Identify fraudulent schemes related to cash on hand.
  • Explore fraudulent schemes for cash receipts including skimming, lapping, refund or discount skimming, short-term (ST) skimming.
  • Recognize concealment procedures used for fraudulent cash receipts.
  • Explore the cash larceny aspect of asset misappropriation.
Last updated/reviewed: November 16, 2019

Included In Certifications

This course is included in the following Certification Programs:

11 CoursesBusiness Fraud Identification and Prevention Certification

  1. Introduction to Forensic Accounting
  2. The Fraud Triangle
  3. Fraud: Focus on Corruption
  4. Fraud: Focus on Fraudulent Disbursements
  5. Fraud: Focus on Cash And Assets
  6. Fraud: Focus on Inventory
  7. Fraud: Focus on Financial Statement Fraud – Part One
  8. Fraud: Focus on Financial Statement Fraud – Part Two
  9. Fraud and COSO 2013
  10. Top Fraud Schemes
  11. Fraud Risk Assessments

18 Reviews (69 ratings)Reviews

4
Member's Profile
This was a good overview of various types of cash fraud that can be perpetrated by employees or companies. Cash on hand, cash receipts, fraudulent disbursements, Cash Larceny, Skimming (sales, receivables, refunds). There are a lot of personal examples given for each situation which makes the videos longer than normal but could help in remembering each situation better.
5
Anonymous Author
A great refresher course regarding fraud and asset misappropriations. It discusses the different types of assets misappropriations, as well as, the red flags to these schemes and the best practices-solutions on how to manage them.
5
Anonymous Author
Includes fraud not just by employee but also by customer. Includes not just cash but also effect on inventory. A good case for decreasing cash transactions.
5
Member's Profile
GOOD CLASS FOR ANYONE IN RETAIL OR MANAGING IN A CASH ENVIRONMENT
5
Anonymous Author
This course was a great refresher on asset misappropriation and cash. It was also a reminder of the necessity of internal controls.
4
Anonymous Author
Another interesting course from Lynn Fountain, fast paced and full of examples. Thanks for the dedication to continued learning!
3
Member's Profile
Nice refresher and timely reminder about why internal controls over cash are necessary.
5
Anonymous Author
Interesting course and practical knowledge for dealing with cash controls.
4
Member's Profile
Very nice overview of Cash Misappropriation. Lynn's courses are great.
4
Anonymous Author
The speaker provides great examples on different cash misappropriation
5
Anonymous Author
Very useful topic for internal auditors to include in audit program.
4
Member's Profile
some inconsistency of categories-cash on hand and Cash Larceny
5
Anonymous Author
Excellent and interesting course on cash fraud. Very helpful
5
Anonymous Author
very informative description on how cash can be misutilised
4
Anonymous Author
A very educational course on cash misappropriation.
4
Member's Profile
A good coverage of relevant material. Insightful.
5
Member's Profile
Good overview of fraud relating to cash.
5
Anonymous Author
Very helpful, good overview.

Prerequisites

Course Complexity: Intermediate

No Advanced Preparation or Prerequisites are needed for this course. However, it is recommended to take the other courses in the series prior to completing this one.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  3:45Introduction to Fraud Tree: Focus on Asset Misappropriation and Cash
Focus on Cash Component of Asset Misappropriation
  10:55Cash on Hand
  11:14Cash Receipts
  12:42Receivables Skimming
  8:59Refund or Discount Skimming
  2:12Short Term Skimming
  6:57Concealment Strategies and Solutions
  10:47Cash Larceny
CONCLUSION
  3:04Summary
CONTINUOUS PLAY
  1:10:36Fraud Tree: Focus on Cash Component of Asset Misappropriation
SUPPORTING MATERIALS
  PDFSlides: Fraud Tree: Focus on Cash Component of Asset Misappropriation
  PDFFraud Tree: Focus on Cash Component of Asset Misappropriation Glossary/Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM