How do you think accounting representations might have enabled this fraudulent misstatement incident to take place?

Detailed Instructions

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       Use the information above, the details in the supporting videos and links, the module’s material and your own understanding and critical analysis of the key readings discussed in both the module’s lectures and seminars to find answers to the questions below. You can also use some of the academic articles available on the ‘recommended readings’ list for this module available on Blackboard.

In his interview, Chris Boxall; one of Patisserie Valerie’s stock owners stated that; “Reality – at Patisserie Valerie – looked really good. I do not think cash can lie, but accounting can!” In light of your understanding of the Patisserie Valerie Case and the module’s material: How do you think accounting representations might have enabled this fraudulent misstatement incident to take place? In your discussion, provide a critique of the claim that accounting mirrors and can objectively represent economic reality

More about the assignment: 

The Patisserie Valerie Case should be attempted by addressing what the case entails and the characters involved. The case is expected to identify the issue especially the provision of the fake invoices. The discussion should also identify the role played by the individuals who were involved in fraudulent activity. Identification of these individuals and their activities will assist in identifying the accounting representations that are likely to have enabled the fraudulent misstatement incident to have taken place. The discussion is expected to identify the accounting mirrors and discuss them with the aim of objectively representing the economic reality…

 

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