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How Financial Statements Are Manipulated

  • CPA/ABV
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • IAP
  • QIAL

Published: September, 2021

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  • Course Description
  • Course Qualification
  • Presenter
  • Faq

Course Description

Overview

  • Earnings Management
    2 mins
  • Analyzing Real Earnings Management
    17 mins
  • Framework for Accruals EarningsManagement
    25 mins
  • AT&T Statement of Cash Flows Operating Section
    48 mins
  • Joint Venture Using the Equity Method
    60 mins

Course Description

When the economy slows and Wall Street gets jittery, concerns grow as companies are desperate to keep up earnings and stock prices. 

And the result is?

Earnings Overstatement!

In this CPE course, Professor Jamie Pratt, CPA first defines earnings management and then introduces and illustrates the two basic forms: real earnings management and accruals earnings management.  He illustrates each form, provides a number of examples, discusses whether they are appropriate and then creates a framework for accruals earnings management that identifies and relates the four general areas (materiality, disclosure, classification and measurement) where it is practiced.  The CPE webinar concludes with a thorough discussion of why manipulation in financial statements through earnings management is practiced and common strategies used by companies.

Throughout the CPE course real-world financial statements and footnotes are analyzed. Companies featured include General Electric, Merck, Harley Davidson, Tesla, AT&T, Volkswagen, Walt Disney and others.

Major Topics highlighted in this online Accounting CPE webinar: -

  • Accruals earnings management
  • Classification of lease
  • Earnings management
  • Earnings benchmarks
  • Earnings per share management
  • Earnings management strategies
  • Expense management
  • Gains/loss management
  • Goodwill impairment
  • Off-balance sheet financing
  • Operating vs. non-operating lease
  • Real earnings management
  • Revenue management
  • Revenue recognition
  • Special purposes entities
  • Valuation

Learning Objectives

  • To define earnings management.
  • To differentiate between real earnings management and accruals earnings management. 
  • To identify the four general areas where accruals earnings management is practiced and be able to recognize examples of each.
  • To explain why earnings management is practiced.
  • To list and identify the popular strategies used by companies to practice earnings management.

Recommended For

This Accounting CPE course is recommended for CPAs, CIAs, CVAs, ABVs, Accounting Managers or Directors, Chief Accounting Officers, CEOs, CFOs, Finance Professionals and Business Owners interested in the concept of earnings management.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Certified Public Accountant
  • Chief Accounting Officer
  • Cloud Accountants
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 2 CPE Credit for Internal Audit Practitioner (IAP)
  • 2 CPE Credit for Certified Valuation Analyst (CVA)
  • 2 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
  • 2 CPE Credit for Certified Management Accountants (CMA)
  • 2 CPE Credit of Accounting & Auditing for Certified Internal Auditors (CIA)
  • 2 CPD Credit for Accredited in Business Valuation (ABV)

Presenter

About Presenter

Jamie Pratt, CPA

Chief Executive Officer (CEO) PRATTedu

Jamie Pratt was the Alva L. Prickett Chair of Accounting at the Kelley School of Business at Indiana University in Bloomington, Indiana, and now holds the title of Distinguished Emeritus Professor.  He received his doctorate in business from Indiana University in 1977, and has held faculty positions at the University of Washington (Seattle), the University of Zurich (Switzerland), Northwestern University and INSEAD (Fontainebleau, France), returning to Indiana in 1991.

Jamie’s research interests are in financial reporting and analysis, where he has published over 30 articles in the top academic research journals (including The Accounting Review, Journal of Accounting Research, Contemporary Accounting Research, Accounting, Organizations and Society, and Issues in Accounting Education), and he has taught courses in financial reporting and analysis at every level (introductory, intermediate, advanced) in every program (undergraduate, MBA, PhD).  He has received over 30 teaching awards and recognitions, and also taught executive education courses throughout the world.  Research and/or teaching recognitions have also come from the following organizations: American Accounting Association, American Taxation Association, Big 4 accounting firms (KPMG and PriceWaterhouseCoopers), Indiana Society of CPAs, the Universities of Manchester (England), Kwansei Gakuin (Japan) and Kentucky, and Business Week magazine.  His resume also includes two textbooks (one in its 11th edition), two computer-based interactive case platforms, a financial analysis case book, and several instructor guides that support these products.  

He is now CEO of PRATTedu (www.prattedu.com), which produces and delivers online video-based courses, primarily in the area of financial reporting and analysis.

About Company

Are you a beginner in the world of financial analysis, a CPA, or somewhere in between? Are you looking for an edge in your education but don’t have much free time?  Prattedu is for you!  Prattedu’s video-based courses will provide a powerful perspective on what is required for success in business and, if you are CPA, you will earn CPE credits as well!

Faq

FAQs content

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  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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