Week 1 Discusion Term Paper

Week 1 Project

Acct. 601

The topic that I am choosing to discuss in this paper is the world of fraud and how it can

affect a business both on the accounting side on the customer side. Fraud is a constant thing that

will always be around, and in more ways than just one. Since I am going into accounting, with

my undergraduate in finance, I feel that this is a big area to know about. A lot of companies out

there struggle with fraud, either from within the company, or from outside the company.

Knowing how to handle this is imperative for a company to be successful over a long period of

time. The first area I am looking to touch on is accounting fraud and how it could affect a

business. This is basically going to look more into the financial aspect of the company. Next we

are going to be touching on the factors that go into why companies would commit a fraudulent

act. Fraud isn’t just something that comes up to come up, companies are pushed to it and we are

going to look at why. Another type of fraud we are going to look at, and one that is very

important to me because of my line of work, is banking fraud. Since I have my undergraduate in

finance I feel that it is important that we touch on this a bit because it affects consumers, as well

as businesses. Knowing the importance of how to protect you in banking could really help a

company. Lastly I am going to look at international fraud since a lot of businesses out there

operate internationally. This is huge because international laws are different when it comes to the

financial aspects of a business and we are going to look at that as well.

Like I said at the beginning I feel this is a good topic to discuss in an accounting class

because not a lot of people are aware that fraud is even out there. It can take some many different

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forms that it is important as an accountant to be aware of it. I hope over the course of the paper

the people reading it have a better understanding of it as well.

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