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Lapping Scheme Definition
- https://www.investopedia.com/terms/l/lappingscheme.asp
- Feb 03, 2020 · A lapping scheme is a form of accounting fraud whereby stolen or misappropriated cash is obscured by altering the accounts receivable. A forensic accounting audit of cash receipts can be ...
Kiting Definition - Investopedia
- https://www.investopedia.com/terms/k/kited.asp
- May 07, 2019 · Kiting is the fraudulent use of a financial instrument such as a check to obtain additional credit that is not authorized. There are two variants of kiting:
6 Types of Accounts Receivable Fraud
- https://blog.apruve.com/6-types-of-accounts-receivable-fraud
- Jul 22, 2020 · Check Kiting And Lapping. Check kiting allows fraudsters to build up a balance in bank one by writing hot checks from bank 2. Perpetrators use the delay in processing checks (i.e., float period) to take advantage of an interest-free loan. Bank 1 isn't aware that the check from bank 2 …Author: Brett Romero
Accounts receivable auditing — AccountingTools
- https://www.accountingtools.com/articles/2017/5/15/accounts-receivable-auditing
- May 15, 2017 · That receivables do not exist. That recorded receivable balances are inaccurate. That it may not be possible to collect accounts receivable. That the derivation of the allowance for doubtful accounts may not properly reflect bad debt experience. That …
What is Kiting? - Definition Meaning Example
- https://www.myaccountingcourse.com/accounting-dictionary/kiting
- Definition: Kiting, also called check kiting, is a fraudulent scheme that uses checks to embezzle money from a business. Kiting is usually committed by a bookkeeper or someone else with access to company checks and the ability to forge checks, but it can also be used by the company.
Lapping fraud — AccountingTools
- https://www.accountingtools.com/articles/what-is-lapping-fraud.html
- Lapping occurs when an employee alters accounts receivable records in order to hide the theft of cash.This is done by diverting a payment from one customer, and then hiding the theft by diverting cash from another customer to offset the receivable from the first customer.This type of fraud can be conducted in perpetuity, since newer payments are continually being used to pay for older debts ...
Check kiting - Wikipedia
- https://en.wikipedia.org/wiki/Check_kiting
- Check kiting or cheque kiting is a form of check fraud, involving taking advantage of the float to make use of non-existent funds in a checking or other bank account.In this way, instead of being used as a negotiable instrument, checks are misused as a form of unauthorized credit.. Kiting is commonly defined as intentionally writing a check for a value greater than the account balance from an ...
AUDITING: " LAPPING & KITTING
- https://paandpaf.blogspot.com/2011/07/lapping-kitting.html
- Galih stole cash used by Customer A to pay the loan, the funds received from Customer B was used to pay the balance of receivables owned by the Customer A and so on, this can be likened to digging a hole and cover the hole. KITTING example.
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