Accounting Essays Examples

Understanding Yourself: The Brain Attic- What’s it and what’s in There?

According to Sherlock Holmes, in A Study in Scarlet, quintessential approaches are an indispensable element for forensic accountants. Every case has its distinctive level of uniqueness. A case will call for some facts, some persons of interest; this in one forms a judicial case. Forensic accounting involves a scientific method of making several observations about a phenomenon and creating a hypothesis to ascertain those observations, designing to test the hypothesis, run the experiment, checking if results match the expectations. Undeniably, forensic accenting is dependent on an efficient attic’s structure. It is a general cognitive orientation with distinct features that guide individuals in the collection and interpretation of information. It influences how individuals process information and shapes their thought production and the way of thinking and memory. The attic’s structure (memory and mindset competencies) of a forensic accountant has a direct influence on fraud related task performance.

The Power of Observation

Minds of forensic accountants may not think like Holmes by default. Nevertheless, these accounting detectives may develop new habits and apply them. Undeniably, professionalism and expertise are comprised of ‘habit, habit, habit and motivation’ (Konnikova 235). Lack of concrete experience as part of a broader concept is often recognized as an imperative factor influencing the quality of auditing that narrows the audit expectation gap. There are, generally speaking, two academic approaches to the understanding and study of expertise as the basis for practice. Further, more selectivity, objectivity, inclusiveness, engagement, judgment and an enhanced subjectivity are critical elements of management accounting. The elements utilize the essence of professional skepticism in carrying out forensic auditing. In this regard, forensic accounts must showcase a skeptical mindset more so in financial reporting (Siriwardane, Kin and Low 197). This study may not underestimate the essence of professional skepticism in a forensic audit.

Works Cited

Konnikova, Maria. Mastermind - How To Think Like Sherlock Holmes. Edinburgh: Canongate Books Ltd, 2013. Print.
Siriwardane, Harshini P., Billy Kin Hoi Hu, and Kin Yew Low. 'Skills, Knowledge, and Attitudes Important For Present-Day Auditors'. International Journal of Auditing 18.3 (2014): 193-205. Web.