Important terms
A future economic benefit owned by a business because of a previous transaction that took place (Phillips et al, 2022.)
What is an asset?
To make a recommendation on how fraud/theft can be better avoided in the future (Bhasin, 2007.)
What is forensic consulting?
This financial statement is the first statement to be completed by an accountant (Phillips et al, 2022.)
What is an income statement?
noun definition: The left side of an account (Phillips et al, 2022).
What is debit?
A forensic accountant will present this in the court room (Bhasin, 2007.)
What is financial evidence?
What financial statement follows the format of assets=liabilities+owners equity (Phillips et al, 2022.)
What is a balance sheet?
The cost of doing business that is required to earn revenue (Phillips et al, 2022).
What is revenue?
What financial statement would you find operating activities on? (Phillips et al, 2022.)
What is a statement of cash flows?