Download the following Excel spreadsheet from the textbook website: www.Findafraud.xls. These data include sales transactions and credits for a retail store. You are concerned that the store is attempting to manipulate its revenue. Use your spreadsheet skills and knowledge of revenue recognition to identify red flags that could indicate fraud related to revenue recognition. Alternatively, convert this spreadsheet into an Access table and use the query skills described in Chapter 8 to analyze this data using queries.
Requirements
1. Document each red flag that you identify.
2. Explain the potential implications of each red flag.
3. Discuss the fraud or frauds that you believe are most likely.