How to Spot Fraud in Business Financial Statements

Financial Statement Fraud or as it’s more commonly known, “Cooking the Books” involves overstating assets, revenues or profits and/or understating liabilities, expenses and losses. This is done deliberately. When investigating financial fraud, a forensic accountant looks for red flags or accounting warning signs that indicate suspicious business accounting practices. These red flags include the following: …

Key Elements of a Balance Sheet

Glasgow Accountants, The Kelvin Partnership, provide a quick overview of balance sheets. A balance sheet is a vital way to evaluate a business’ financial health. Balance sheets can be calculated every month, quarter or every 6 months to offer insight of a company’s net worth. The Kelvin Partnership would like to offer advice on how …