Fraud Schemes (CPE Course)

CPE Credit: 3 hours

Course Type: Downloaded PDF materials with online test

Price (with PDF Textbook): $30

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Course Description
Fraud schemes can threaten the financial stability of an organization. By understanding as much as possible about the nature of fraud, an organization can take steps to prevent it from occurring. Fraud Schemes serves as this necessary guidebook, describing the different types of fraud schemes that may be perpetrated against a business. The schemes are broken down into schemes by employees, financial statement fraud, and schemes by outsiders. Accompanying the descriptions of fraud schemes are discussions about how to minimize the effects of fraud on a business.

Author: Steven Bragg

Course Number: AC1113

Table of Contents

Chapter 1. Fraud Schemes by Employees
Chapter 2. Financial Statement Fraud Schemes
Chapter 3. Fraud Schemes by Outsiders

Learning Objectives

  • Identify the characteristics of each type of employee fraud scheme.

  • Recognize the methods used by employees to falsify their expense reports.

  • Recognize the techniques used to artificially assist suppliers in winning bids.

  • Note how a payables clerk can obtain a valid signature on a check intended for personal use.

  • Describe how stock option backdating can benefit employees.

  • Identify the tools available to a management team that wants to inflate sales.

  • Note how the reported asset balances in the balance sheet can be artificially altered.

  • Point out the circumstances in which a management team is more tempted to set up a large loss reserve.

  • Recognize the methods available for using fixed assets to alter reported expense levels.

  • Identify the methods available for falsely reducing reported liability levels.

  • Describe the reasons why cash flows may be mis-reported.

  • Note the possible indicators of application fraud.

  • Describe the controls that can be used to mitigate the effects of outsider fraud schemes.

  • Cite the underlying mechanics of a bust-out scam.

  • Point out the indicators of a possible money laundering scheme.

Level: Overview

Instructional Method: QAS Self-Study

NASBA Category: Accounting

Prerequisites: None

Advance Preparation: None

Program Registration Requirements: Click on "Purchase Course" near the top of this page to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.

Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.


AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:

The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.