Hide Currency into the Financial Statement (Personal) and eSign it in minutes

Aug 6th, 2022
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How to Hide Currency into the Financial Statement (Personal)

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hey whats up everyone and welcome to the school of personal finance so in this video were going to be talking about your personal cash flow statement now when I would meet with somebody this was always the first thing that we did because it opens your eyes it brings some clarity to where your money is going every month theres so many people out there where at the end of the month they sit and they say wow I have no money left where did it all go throughout the month I dont have a clue of where it went so by being able to track it and using a cash flow statement you see exactly what moneys coming in and what moneys going out and there are some amazing apps that make this so much easier to do where its just all automated so for example mint and personal capital those are probably the two most popular apps for feeding all this information and having it at the push of a button where you could see exactly where you stand month to month but in this video Im gonna walk you through exa

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The reporting currency is the currency in which a company will report its financial statements. A reporting currency must be one currency, which makes it easier to understand and follow financial documents.
There are two general approaches to manipulating financial statements. The first is to exaggerate current period earnings on the income statement by artificially inflating revenue and gains, or by deflating current period expenses.
Probably the most common financial statement fraud is the manipulation of sales (revenue) figures. Its in the companys best interest to report higher sales, as opposed to lower sales, so virtually every company runs the risk of overstating sales.
Some common red flags that indicate trouble for companies include increasing debt-to-equity (D/E) ratios, consistently decreasing revenues, and fluctuating cash flows. Red flags can be found in the data and in the notes of a financial report.
Reporting income from investments or capital obtained by taking out a loan as business revenue. Capitalizing ordinary business expenses, thus shifting them from the income statement to the balance sheet. Inaccurately reporting liabilities or altogether neglecting to report them at all.
The risks of inaccurate financial reporting include bad operational decisions, reputational damage, economic loss, penalties, fines, legal action and even bankruptcy.
Making a false financial statement is a wobbler offense in California, meaning it may be prosecuted either as a misdemeanor or a felony.
Types of Financial Statement Fraud Overstating revenues by recording future expected sales. Inflating an assets net worth by knowingly failing to apply an appropriate depreciation schedule. Hiding obligations and/or liabilities from a companys balance sheet.

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