What Are the Key Differences Between Forensic Accounting and Traditional Accounting?

Here're some of the best known differences between a Forensic accounting and Traditional Accounting in a glance;

1. A very obvious and discrete key difference which one can identify between a traditional auditor VS a forensic accountant is that :
The former is someone who checks the math accuracy in the accounting department while the latter is someone whom are looking behind these financial numbers find out what's not quite right.

2. The second differentiation is the "investigative intuition".
Intuition refers to the gut instinct which one may have to guide you to the appropriate direction as of where your investigation should start from. This is not text book earned, but rather something which can be earned through massive experiences. Most of the time, no investigation intuition is found nor required in the traditional accounting scope.

What Are the Key Differences Between Forensic Accounting and Traditional Accounting?

3. Traditional auditing is a process of auditing others' work to determine if they have followed the documented official policies, procedures and practices of the company. The determination is based on evidence. It is a matter of fact and not merely a matter of opinion. This kind of audits is required by financial intermediaries and the government depending on circumstances.

4. Traditional auditing focus on error identification and prevention. Prevention is the result of an effective internal control system. The auditor reviews the effectiveness of the internal control system by sampling transactions of some agreeable percentage. Materiality is the accounting way of designating the importance of a transaction or an event.

5. Traditional Auditors use statistics to determine the probability that material errors will or will not be identified and the possibility of its happening. This is a concern since only a sample of transactions and events will be reviewed. The system of internal control is evaluated. It is argued that If the internal control system is deemed to be highly effective, then material errors are not probable.

6. Traditional auditors typically adhere to the generally accepted auditing standards (GAAS) as promulgated by the Public Company Accounting Oversight Board (PCAOB). External auditors are typically reviewing whether an organization is following GAAP. GAAP are promulgated by the Financial Accounting Standards Board (FASB) .This denotes that means that auditors are affected by all three of these organizations and must stay current with old, new and changing standards and principles issued by all three of these organizations.

7. Instead, forensic accountants use physical evidence, testimonial evidence, documentary evidence and demonstrative evidence to help identifying suspect and culprits.

8. For Forensic Accounting, any type of evidence can be used as information, be it documentary paper, a computer video or audio. However, it requires an expert to interpret the evidence and present it. Demonstrative evidence is not actual evidence. It is just an aid to understanding just like a model of a body part or pictures or other devices are used to help clarify the facts.

9. Forensic Accountant is often asked to serve as an expert witness for a lawsuit or criminal case in a court, the forensic accountant needs to have applied reliable principles and methods to sufficient facts or data. The expert witness is a recognized specialist relative to the principles and methods applied to the sufficient facts or data.

10. A forensic accountant typically need to possess the expertise and skills in these 2 fields : Private investigator and Accountings are what specifically required to be a great forensic accountant. On the other hand, there is no such requirement in the traditional accounting space.

What Are the Key Differences Between Forensic Accounting and Traditional Accounting?
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Difference Between Journal and Ledger

Journal

1. Is the book of prime entry.

2. As soon as transaction originates it is recorded in journal

Difference Between Journal and Ledger

3. Transactions are recorded in order of occurrence i.e. strictly in order of dates.

4. Narration (brief description) is written for each entry.

5. Ledger folio is written

6. Relevant information cannot be ascertained readily e.g. cash in hand can't be found out easily.

7. Final accounts can't be prepared directly from journal.

8. Accuracy of the books can't be tested.

9. Debit and credit amounts of a transaction are recorded in adjacent columns.

10. Journal has two columns one for debit amount another for credit amount.

11. Journal is not balanced.

12. With the computerization of accounting journal may not be used for routine transactions like receipts, purchases, sales etc

Ledger

1. Is the book of final entry.

2. Transactions are posted in the ledger after the same have been recorded in the journal.

3. Transactions are classified according to the nature and are grouped in the concerned accounts.

4. Narration is not required.

5. Folio of the journal or sub-journal is written.

6. Since transactions of particular nature are grouped at one place therefore relevant information can be ascertained.

7. Ledger is the basis of preparing final accounts.

8. Accuracy of the books is tested by means of list of balances.

9. Debit and credit amounts of a transaction are recorded in two different sides of two different accounts.

10. Ledger has two sides: left side is debit side right side is credit side.

11. Every account in the ledger is balanced at appropriate time.

12. Ledger cannot be avoided. However it may be loose leaf ledger or a computerized ledger. But ledger is a must.

Difference Between Journal and Ledger
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Computer Forensics - Distributed Denial of Service (DDoS) Attacks Explained in Simple Terms

Every website has its heart and soul situated in a data center. These data centers are massive arrays of computers housed in a physical location somewhere in the planet. Data centers usually contain very powerful computers that are capable of handling an enormous amount of data traffic at any point in time.

Furthermore, website owners usually subscribe to a data center's storage services based on how much information the former expects to flow in and out of the servers at any given time. For example, there are data centers in the US which offer a data hosting service for about USD 30 per month, which allows a server owner up to 2 Terabytes of traffic per month. As soon as this limit is reached, the line is cut and the website goes down.

Even if these data centers are composed of very powerful computers, these computers are usually not powerful enough to handle an event where millions upon millions of requests are sent to it in a very short span of time. When this happens, a website may go down in a span of minutes from the initial attack. For example, if I had a computer that is powerful enough, I can create a program that will send automatic queries en masse to a particular website, letting it reach its data cap very quickly, thus shutting it down. This is called denial of service.

Computer Forensics - Distributed Denial of Service (DDoS) Attacks Explained in Simple Terms

But what does it mean for it to be "distributed?"

Of course, computers are expensive. Furthermore, there isn't really any computer that can be bought from an electronics store that can possibly and feasible do what I have mentioned. Instead, some people wrote programs that automatically take over other computers to do it too. Thus, if a person can infect a million computers all at once, bringing down a website will be very easy.

Thus, it is important to always update your antivirus and anti-spyware/malware programs. This is not only an exercise of due diligence, but it also allows you to use your system resources to the fullest, and avoid them being used by other people with malicious intent.

Computer Forensics - Distributed Denial of Service (DDoS) Attacks Explained in Simple Terms
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Statistics of Infidelity

Statistics of infidelity can give us some insight into the current reality of relationships in our culture. Knowing exactly what is likely to happen empowers us all to make better decisions and, at the very least, helps prepare us for what we know might well come our way. Most people who find out the hard way that their spouse has cheated, suffer from an extended period of shock and pain. It was completely unexpected. This article aims to present the facts as they are, not to make you distrust everyone, but to give you the awareness to make good judgments.

Let's get the big ones out of the way first. Are you ready? 57% of men and 54% of women have admitted to infidelity in a relationship in the past, and 41% of marriages suffer the effects of either emotional or sexual infidelity. That makes over half of the population cheaters! Now, before you start thinking that no one can be trusted, consider that there are usually a lot of factors at play when a partner makes the decision to cheat. It is not a predetermined inevitability. And, the factors are very different for women than they are for men. But you should know that it is a phenomenon that happens in pandemic proportions in our society.

31% of couples stay together after an affair. That leaves the staggering majority of relationships affected by infidelity broken. And 17% of all divorce filings in this country are initiated because of infidelity. These are important statistics to pay attention to if you're trying to decide whether or not to stay with your cheating spouse. It obviously takes a lot of work on both sides and, the understatement of all time might be that affairs are extremely hard for couples to overcome. Still, it can be done.

Statistics of Infidelity

What about statistics of infidelity for men and women individually? The surprising fact is that women cheat as much as men, yet for different reasons. Women usually engage in an affair to satisfy their need for an emotional bond, to find someone who really understands who they are. Interestingly, affairs started by women usually last 3 times longer than affairs started by men. Studies show that men overwhelmingly engage in affairs for sex. It's surprising then to learn that the average length of an affair is two years and around 40% of them last more than 2 years. Given that most male initiated affairs are relatively short, that means there are a lot of women who have long extramarital relationships.

What about the workplace? Well, 36% of both men and women have affairs with a co - worker. 36%, again of both men and women, admit infidelity while on business trips. Surveys show that 66% of women and 75% of men say that they have sexual thoughts or fantasies about someone they work with. It's not too surprising since the normal American spends far more waking hours at work than they do spending quality time with their partners.

Extended families apparently present some opportunities for cheating also. 17% of infidelity in men and women happens with a brother/ sister-in-law.

And then there's the internet. Less than half of men surveyed believe that online affairs constitute infidelity. 75% of all people think there is nothing wrong with viewing internet porn. Over half of men and women reported flirting on the internet. 38% of men and women combined have had sexually explicit conversations on the internet and 50% of those have contacted an online chat buddy by phone. 31% of the time, online conversations lead to in person sex. The internet is obviously a huge resource for cheaters and a great place to start investigating a spouse whom you suspect of cheating.

The evidence is overwhelming. The majority of both men and women have an uncontrollable need to seek out relationships with people outside their marriages. Hopefully, knowing some of the facts will help you be more aware and proactive about your relationship and/ or help you make good decisions about what to do next if you have found yourself the victim of infidelity.

Statistics of Infidelity
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Is It Possible to Retrieve Deleted Text Messages From an iPhone?

Everyone loves to text, and these days it is easier than ever with smartphones that are touch screen, have auto correct (which, frankly, can be annoying at times), and even some third-party apps that allow you to text for free. As with anything, popularity and frequent use comes with a price - problems.

How many times have you deleted a text message that is full of information that you need back? Do you think that text message is gone forever? In some cases, that may hold true, but there is a good chance that you can get some or all of the information back.

Take an Apple iPhone, for example. Much like a computer, when information is deleted it is not truly erased. When you delete a text message from an iPhone, it is actually still there. However, it is now being held in the unallocated portion of the physical memory. The bad news is that anything that is in the unallocated portion of the memory is subject to being overwritten. Thus, consider the biggest factors that affect the retrieval of iPhone text messages are available free memory and usage.

Is It Possible to Retrieve Deleted Text Messages From an iPhone?

For example, if you have a 16GB iPhone and it has 15.8GB of music, photos, text messages, and apps on it, chances are unallocated memory is going to be overwritten quickly. Along the same lines, if the iPhone user is texting constantly (like my teenager who sends and receives in excess of five thousand text messages per month), the risk of the deleted text messages being overwritten increases. Another thing to keep in mind is that there is no rhyme or reason as to the way an iPhone writes data to the physical memory. It doesn't care if the data is old or new, it just writes it to whatever portion of the unallocated memory is easiest to write to at the time. Thus, when recovering deleted information, you may get back all of the message, but you may also get back only part of it.

Some say that your cell provider can give you access to all of your incoming and outgoing text messages. Although it is true that some cell carriers maintain the content of all incoming and outgoing text messages, I have found it to be the case that they will not just give them to you. Most need a court order as the only reason they retain this information is for law enforcement authorities investigation purposes.

Search the internet. There is a plethora of knowledge out there by doing a simple Google search. There are forums dedicated to the subject, and many "techies" roam these forums and post great information. Some call for your iPhone to be "jailbroken", which I don't recommend, but if your iPhone is jailbroken, you may just find the information you need.

If you don't want to do or feel comfortable doing the forensic work on your iPhone yourself, there is recovery software on the market. One of the most important things you can do before purchasing any type of recovery software is to know your iOS version. Make sure that the software you get is compatible with your iOS version, and it is also best to make sure that the software comes with free updates. This is because Apple releases iOS versions fairly regularly, and if your recovery software doesn't come with updates, it will soon be outdated. You never know when you will need to use it again!

Beware of SIM card recovery software when dealing with iPhone! AT&T iPhones uses the SIM card for GSM (cellular network) service only. They do not save text messages to the SIM card.

Accidents can happen to anyone. If you have inadvertently deleted text messages that you need and are looking for information on how to retrieve iPhone deleted text messages, there are plenty of options that may help you get them back.

Is It Possible to Retrieve Deleted Text Messages From an iPhone?
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Jeff Monson is a web enthusiast, proud husband and father of four, retired military member, and co-owner of JLM Merchandise Surveillance and Security Products. If you'd like to connect with Jeff, you become a Facebook Fan or follow him on Twitter using the links at the top of the JLM Merchandise web site.

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