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A chart of accounts (COA) is a list of financial accounts and reference numbers, grouped into categories, such as assets, liabilities, equity, revenue and expenses, and used for recording transactions in the organization's general ledger. Accounts may be associated with an identifier (account number) and a caption or header and are coded by ...
Forensic accounting used in large companies is sometimes called financial forensics. The role of the forensic accountants differ from what auditors do. [12] Forensic accountants are involved with investigating and analyzing the factual information brought about by the crime, whereas auditors handle the gross financial statements. [12]
Forensic accountants need to have a great deal of access to information regarding the company they are investigating or assisting. The information will determine how much a person actually makes, the worth of a business, if there has been fraudulent activity, who committed the fraud, everyone involved, how much was taken from the company, where the money went, and how much can be recovered.
The chart is the general guideline and every user can make any amendments and personally created accounts. The governments authorities accounting led by the Swedish National Financial Management Authority [2] and the communes led by Swedish Association of Local Authorities and Regions [3] [4] have special versions with adding special accounts for their purpose.
The general ledger contains a page for all accounts in the chart of accounts [5] arranged by account categories. The general ledger is usually divided into at least seven main categories: assets, liabilities, owner's equity, revenue, expenses, gains and losses. [6]
Accounts receivable refers to the outstanding balance of accounts receivable at a point in time here whereas average sales per day is the mean sales computed over some period of time. This can be annual as in the formula above, or it can be any period of time considered useful to the company.
Forensic statistics is the application of probability models and statistical techniques to scientific evidence, such as DNA evidence, [1] and the law. In contrast to "everyday" statistics, to not engender bias or unduly draw conclusions, forensic statisticians report likelihoods as likelihood ratios (LR).
This can be rather complex in practice, because the defendant's accounting records must be examined (sometimes by a forensic accountant) to determine what portion of his gross profits were derived to the wrongful act in question. [2] As a result, mathematical exactness is not called for and reasonable approximation is acceptable. [3]