ACCT 320: Fraud Detection and Deterrence

ACCT 320, Fraud Detection and Deterrence, is a 3-credit undergraduate course at University of Maryland Global Campus, with ACCT 220 or ACCT 301 as the prerequisite.

UMGC describes it as a study of the principles behind, and standards for, examining, identifying, detecting and deterring fraud. You learn to differentiate types of fraud, assess organizational characteristics that make fraud more likely and develop a plan to detect and deter it.

UMGC lists a long range of topics: the fraud triangle, cash larceny, check tampering, skimming, register disbursement schemes, cash receipts schemes, billing schemes, payroll and expense reimbursement issues, asset misappropriation, corruption, accounting principles and fraud, fraudulent financial statements, whistleblowing, interviewing witnesses and writing reports.

The course also focuses on creating meaningful data visualizations for stakeholders, so you need to present findings, not just find them.

What ACCT 320 Covers

Key Concepts Explained

The Fraud Triangle

The fraud triangle explains occupational fraud through three elements: pressure (a financial or personal need), opportunity (a weakness that lets fraud happen and stay hidden) and rationalization (the story the fraudster tells to justify it). Organizations have the most control over opportunity, which is why deterrence plans focus on controls.

Skimming Versus Cash Larceny

The difference is timing. Skimming takes cash before the sale is recorded, so there is no record to reconcile. Cash larceny takes cash after it has been recorded, so the books show money that is missing.

Billing Schemes and Red Flags

In a shell company scheme, an employee creates a fake vendor and approves invoices from it. Red flags include a vendor address matching an employee's address, invoices just below approval limits and sequential invoice numbers from one supplier.

Fraudulent Financial Statements

Unlike asset theft, financial statement fraud usually involves management misstating results, for example by recognizing revenue early, hiding liabilities or inflating asset values. The amounts tend to be larger and the concealment more sophisticated.

Warning signs include revenue growing much faster than cash from operations, unusual entries near period-end and aggressive targets tied to bonuses. Analyzing trends and ratios over several periods is often the first step in spotting it.

Presenting Fraud Findings Visually

UMGC's emphasis on data visualization reflects real practice: findings have to persuade managers, boards and sometimes investigators. Choose a chart that answers one question.

A bar chart can compare refunds by cashier; a line chart can show expenses spiking around month-end; a histogram can reveal clusters of invoices just below an approval limit. Title each chart with the finding, label axes clearly and avoid decoration. Pair each visual with two or three sentences explaining what it shows and what action it supports.

Typical Assignments and How to Approach Them

Where Students Get Stuck

• Confusing schemes. Learn the defining feature of each, especially timing for cash schemes.
• Generic controls. Tie each control to a named risk in the case.
• Ignoring culture. Tone at the top and whistleblowing channels belong in a deterrence plan.
• Cluttered visuals. Simpler charts communicate findings better.

Study Tips for ACCT 320

• Make a table of schemes with how each works, how it is hidden and how it is detected.
• Read real fraud cases and practice classifying them.
• Practice building simple charts in Excel from transaction data.
• Learn the structure of a fraud examination report.

How We Help with ACCT 320

Send the case, instructions, rubric and any data. A forensic accounting tutor can explain schemes and controls, prepare a custom analysis or plan for reference, or review your draft and visuals. See our accounting assignment help guide for more.

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