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.

Note: Information within this course comes from readily available public domain documents and is utilized by the trainer as a supplement for relaying the course content.

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: August 13, 2023

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 Occupation Fraud Schemes - ACFE Report to the Nations
  11. Fraud Risk Assessments
35 Reviews (138 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
Member's Profile
Another great course from Lynn concerning fraud. This time the focus is on cash. Cash is the most liquid asset in a company and can be the subject of great temptation. This course comprehensively discusses all the ways cash and receipts can be misappropriated. Nice course. thank you Lynn. Larry

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
Anonymous Author
Another great course from Lynn. The course would be beneficial for small business owners or if you would like to get a general understanding of the subject.

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!

4
Anonymous Author
This was again a great training. I liked that the trainer gave several real life examples to demonstrate what can happen.

5
Member's Profile
This course provides a fairly detailed overview of modern fraud schemes. Diagrams help you to quickly understand the material

5
Anonymous Author
great course, very helpful and we all deal with almost in all the size of business, from small to large huge corporations.

5
Anonymous Author
Interesting review about cash and asset misappropriation. Short and well paced. Focuses on common concealment strategies.

5
Anonymous Author
The course provides plenty of relevant information on asset and cash misappropriation, alongside recommended controls.

4
Member's Profile
very interesting to get back to this topic and have it explained so clearly by the lecturer. good course and materials.

4
Member's Profile
Good basic information for cash fraud/sales with examples and solutions for skimming, lapping and larceny.

4
Member's Profile
Lynn has a very friendly, approachable presentation style, enhanced by her years of applicable experience.

5
Anonymous Author
This excellent course helps and encourages to use healthy scepticism to detect cash related fraud cases.

4
Anonymous Author
The course is very informative and structured. It is a good overview of various cash related frauds.

4
Anonymous Author
This is an interesting course. Nothing surprised me. This will be most beneficial to beginners.

5
Member's Profile
This course provides a good understanding of the methodology of acts of cash and assets fraud.

5
Anonymous Author
This was a great course, and very clear explanations were given on each of the various terms.

3
Member's Profile
Nice refresher and timely reminder about why internal controls over cash are necessary.

5
Anonymous Author
This was great! Very easy to understand slides and examples. Very good instructor

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
Good overall course with some good concepts in this area.

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 .
Instructor for this course
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to Fraud Tree: Focus on Asset Misappropriation and Cash3:45
Focus on Cash Component of Asset Misappropriation
  Cash on Hand10:56
  Cash Receipts11:14
  Receivables Skimming12:42
  Refund or Discount Skimming8:59
  Short Term Skimming2:12
  Concealment Strategies and Solutions6:58
  Cash Larceny10:47
CONCLUSION
  Summary3:04
CONTINUOUS PLAY
  Fraud Tree: Focus on Cash Component of Asset Misappropriation 1:10:37
SUPPORTING MATERIALS
  Slides: Fraud Tree: Focus on Cash Component of Asset MisappropriationPDF
  Fraud Tree: Focus on Cash Component of Asset Misappropriation Glossary/IndexPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam