Crazy Accounting at Crazy Eddie Inc.

Journal of Forensic and Investigative Accounting, Volume 9, Issue 1, 2017

Posted: 6 Mar 2019

See all articles by Norbert Tschakert

Norbert Tschakert

Salem State University; Salem State University

Date Written: 2017

Abstract

The case describes a well-known fraud at a consumer electronics chain in the tri-state New York area in the 1980s. Due to its notoriousness and multifacetedness, the case is engaging and provides many learning opportunities for accounting students. The case exposes students to several important concepts, including: (1) financial statement fraud; (2) fraud motivation triangle; (3) fraud element triangle; (4) red flags; (5) fraud schemes; (6) audit risk, independence, professional skepticism and audit failure; and (7) the importance of internal control.

Keywords: accounting fraud, forensic accounting

Suggested Citation

Tschakert, Norbert and Tschakert, Norbert, Crazy Accounting at Crazy Eddie Inc. (2017). Journal of Forensic and Investigative Accounting, Volume 9, Issue 1, 2017, Available at SSRN: https://ssrn.com/abstract=3334713

Norbert Tschakert (Contact Author)

Salem State University ( email )

352 Lafayette St
Salem, MA 01970-5353
United States
9785426627 (Phone)

HOME PAGE: http://directory.salemstate.edu/profile/norbert.tschakert

Salem State University ( email )

352 Lafayette Street
Salem, MA 01970-5353
United States
978-542-6627 (Phone)

HOME PAGE: http://https://directory.salemstate.edu/profile/norbert.tschakert

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