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Forensic Accounting, Forensic Techniques, and Fraud Detection Copyrighted 2001 D. Larry Crumbley, ... - page 319 / 352

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© D.L. Crumbley

Financial Statement Fraud May Serve Many Purposes:

1.

Obtaining credit, long-term financing, or additional capital investment based on misleading financial statements;

2.

Maintaining or creating favorable stock value;

3.

Concealing deficiencies in performance;

4.

Hiding improper business transactions (e.g., fictitious sales or misrepresented assets); and

5.

Resolving temporary financial difficulties (e.g., insufficient cash flow, unfavorable business decisions, defense control in maintaining prestige).

Source: Zab Rezaee, Financial Statement Fraud, New York: John Wiley & Sons, 2002.

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