Understanding Lapping Schemes.

Lapping schemes are fraudulent activities used by financial institutions to cover up missing or stolen funds. In a lapping scheme, a customer’s payments are applied to a different account than the one from which the funds were originally stolen. This allows the financial institution to continue to collect interest on the stolen funds, while the … Read more

Accelerated Depreciation.

Accelerated depreciation is a method of depreciation where larger depreciation expenses are recognized in the early years of an asset’s life, and smaller expenses are recognized in the later years. This is in contrast to straight-line depreciation, where the same depreciation expense is recognized each year over the asset’s life. There are several reasons why … Read more