By manipulation or falsification of accounts we mean to say that the accounts are prepared in such a way as to show more profits or less profit or even to show a loss when in fact there is no loss. This type of fraud is difficult to discover. It is usually committed by directors or managers with certain objects.
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The normal balance of an account is on the side where an increase in the account is recorded. Debits to a specific asset account should exceed the credits to that account.
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Enterprise resource planning (ERP) systems are typically used by manufacturing companies with more than 500 employees and $500 million in sales.
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Accounting is the financial information system that identifies, records, and communicates the economic events of an organization to interested users.
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