Login

  • adsense

  • Recommended Reading

    No Google Reader feed was found with the provided ID. Please validate the ID in plug-in configuration.
  • Forensic Accounting

    Definition of Forensic Accounting:

    “Forensic accounting is the specialty practice area of accountancy that describes engagements that result from actual or anticipated disputes or litigation. “Forensic” means “suitable for use in a court of law”, and it is to that standard and potential outcome that forensic accountants generally have to work. Forensic accountants, also referred to as forensic auditors or investigative auditors, often have to give expert evidence at the eventual trial. All of the larger accounting firms, as well as many medium-sized and boutique firms, have specialist forensic accounting departments. Within these groups, there may be further sub-specializations: some forensic accountants may, for example, just specialize in insurance claims, personal injury claims, fraud, construction,or royalty audits.”

    (Source – Wikipedia)*

    Salary Estimate for Forensic Accounting:

    $70,000+ (23)
    $90,000+ (15)
    $120,000+ (4)
    $140,000+ (2)
    (Source – Indeed.com)**

    Forensic Accounting

    Forensic Accounting

    Forensic Accounting Earnings:

    Median annual wages of wage and salary accountants and auditors were $59,430 in May 2008. The middle half of the occupation earned between $45,900 and $78,210. The bottom 10 percent earned less than $36,720, and the top 10 percent earned more than $102,380. Median annual wages in the industries employing the largest numbers of accountants and auditors were as follows:

    Accounting, tax preparation, bookkeeping, and payroll services $61,480
    Management of companies and enterprises 59,820
    Insurance carriers 59,550
    Local government 53,660
    State government 51,250

    According to a salary survey conducted by the National Association of Colleges and Employers, bachelor’s degree candidates in accounting received starting offers averaging $48,993 a year in July 2009; master’s degree candidates in accounting were offered $49,786 initially.

    Wage and salary accountants and auditors usually receive standard benefits, including health and medical insurance, life insurance, a 401(k) plan, and paid annual leave. High-level senior accountants may receive additional benefits, such as the use of a company car and an expense account.
    (Source – bls.gov)***

    Number of Jobs Found for Forensic Accounting

    Monster.com – 7
    Indeed.com – 44
    Dice.com – NA

    Rising searches in Google for Forensic Accounting

    1. forensic accounting salary (Breakout)
    2. forensic accounting jobs (+300%)
    3. forensic accounting courses (+250%)
    4. accounting jobs (+200%)
    5. forensic accountant(+100%)
    6. forensic accountants(+100%)
    7. accounting degree(+90%)
    8. masters forensic accounting(+90%
    9. forensic accounting degree( +70%)
    10. forensic accounting firms(+60% )

    Top searches In Google For Forensic Accounting

    1. accounting jobs
    2. forensic accounting jobs
    3. forensic accountant
    4. fraud accounting
    5. forensic accounting degree
    6. forensic accounting salary
    7. accounting degree
    8. forensic accountants
    9. masters forensic accounting
    10. forensic accounting firms

    Job Outlook For Accountants and Auditors:(Source – BLS.gov)

    Accountants and auditors are expected to experience much faster than average employment growth from 2008-18. Job opportunities should be favorable; accountants and auditors who have a professional certification, especially CPAs, should have the best prospects.

    Employment change. Employment of accountants and auditors is expected to grow by 22 percent between 2008 and 2018, which is much faster than the average for all occupations. This occupation will have a very large number of new jobs arise, about 279,400 over the projections decade. An increase in the number of businesses, changing financial laws and corporate governance regulations, and increased accountability for protecting an organization’s stakeholders will drive job growth.

    As the economy grows, the number of business establishments will increase, requiring more accountants and auditors to set up books, prepare taxes, and provide management advice. As these businesses grow, the volume and complexity of information reviewed by accountants and auditors regarding costs, expenditures, taxes, and internal controls will expand as well. The continued globalization of business also will lead to more demand for accounting expertise and services related to international trade and accounting rules and international mergers and acquisitions. Additionally, there is a growing movement towards International Financial Reporting Standards (IFRS), which uses a judgment-based system to determine the fair-market value of assets and liabilities, which should increase demand for accountants and auditors because of their specialized expertise.

    An increased need for accountants and auditors also will arise from a greater emphasis on accountability, transparency, and controls in financial reporting. Increased scrutiny of company finances and accounting procedures will create opportunities for accountants and auditors, particularly CPAs, to audit financial records more thoroughly and completely. Management accountants and internal auditors increasingly will be needed to discover and eliminate fraud before audits, and ensure that important processes and procedures are documented accurately and thoroughly. Forensic accountants also will be needed to detect illegal financial activity by individuals, companies, and organized crime rings.

    Job prospects. Job opportunities should be favorable. Accountants and auditors who have earned professional recognition through certification or other designation, especially a CPA, should have the best job prospects. Applicants with a master’s degree in accounting or a master’s degree in business administration with a concentration in accounting also may have an advantage.

    Individuals who are proficient in accounting and auditing computer software and information systems or have expertise in specialized areas—such as international business, international financial reporting standards, or current legislation—may have an advantage in getting some accounting and auditing jobs. In addition, employers increasingly seek applicants with strong interpersonal and communication skills. Many accountants work on teams with others who have different backgrounds, so they must be able to communicate accounting and financial information clearly and concisely. Regardless of qualifications, however, competition will remain keen for the most prestigious jobs in major accounting and business firms.

    In addition to openings from job growth, the need to replace accountants and auditors who retire or transfer to other occupations will produce numerous job openings in this large occupation.

    Forensic Accounting – Google Websearch Interest

    Forensic Accounting - Websearch Interest

    Forensic Accounting - Websearch Interest

    Forensic Accounting Videos:

    Forensic Accounting Sources:

    *http://en.wikipedia.org/wiki/Forensic_accounting
    **www.inedeed.com
    ***http://www.bls.gov/oco/ocos001.htm#earnings

    Financial Forensics I: http://www.famguardian1.org/Publications/USAttyBulletins/usab5302.pdf
    Financial Forensics II: http://www.justice.gov/usao/eousa/foia_reading_room/usab5303.pdf
    masters-in-forensic-accounting.com/apply_now.html
    education-portal.com/masters_in_forensic_accounting.html#relatedSchoolsList

    Comments

    Spam Protection by WP-SpamFree