Financial statements risk: case study of a small accounting unit
ČlánekOtevřený přístuppeer-reviewedpublishedSoubory
Datum publikování
2019
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Vydavatel
Univerzita Pardubice
Abstrakt
Accounting records constitute the basic information sources for various
groups of users. The quality of information acquired may considerably affect their
decision-making based on accounting data and information reported. The focus of this
contribution is laid on the CFEBT method of risk detection of accounting records from
the view of a risk of accounting errors and frauds, with a result in the reduction in the
information asymmetry between their authors and users. The main article objective is
to analyze the risk of accounting errors and frauds through CFEBT risk triangle and a
case study of selected small entities which operate predominantly in processing
industry. The CFEBT risk triangle was designed as a tool for detection, evaluation and
management of the risk of accounting errors and frauds in circumstances of the Czech
accounting standards and International Financial Reporting Standards (IFRS). The
case study results that it was ascertained that the most significant discrepancy between
the economic substance of the business activity of the accounting unit and the generation
of cash flow is a consequence of reported financial revenues.
Rozsah stran
p. 41 - 52
ISSN
1211-555X (Print)
1804-8048 (Online)
1804-8048 (Online)
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Zdrojový dokument
Scientific papers of the University of Pardubice. Series D, Faculty of Economics and Administration. 45/2019
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open access
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Klíčová slova
creative accounting, CFEBT, financial statements, risk of financial statements, fair and true view, frauds, accounting errors