Students build their knowledge of the business transaction cycle. Emphasis is placed on the various techniques accountants use to conduct forensic examinations and in gathering evidence necessary to evaluate and document fraudulent business practices. Students use case studies to evaluate the audit profession, with emphasis on ethical principles and legal liability.
Business law is complex. Corporate operations must satisfy many stakeholders. Students must understand not only what business accountants must be aware of to comply with the law, but also recognize the many ethical dilemmas accountants face.
Business accounting practices have been increasingly under scrutiny due to many examples of unethical and illegal conduct. Students need to be aware of many of the pitfalls if proper accounting practices are not used. Additionally, in the event that fraud is suspected, one needs to understand how to examine financial records for any irregularities.
Christians have Biblical guidance about the dangers of conspicuous consumption and that wealth is worthless (Prov. 11:4), and the love of money leads a Christian to stray from the faith (I Tim.).
Christians in the workplace should set themselves apart. This course will remind students how to apply the law in order to prevent fraud and engage in lawful accounting practices, and also to interpret how fraud has occurred.
Believers function in the temporal world, but should not be ruled by sin, instead always working to transform themselves into the image of Christ (John 17:14-15).
Although this course emphasizes US law and accounting practices, other countries often look to the US as they address business issues. Further, we exist in a global economy, so fraudulent practices in American businesses can have international repercussions.
This course will provide students with the practical tools to synthesize US law and conduct forensic examinations.
In addition to reviewing the standards and laws, students will spend considerable time evaluating accounting practices, and applying ethical requirements to various scenarios.
