Forensic Accounting: A Fusion of Law and Accounting

Forensic accounting deals with conducting research on financial activities and preparing facts for use in a court of law. Thus Forensic accounting is a study of finance with law to solve Accounting Issues. It is a combination of Accounting Principles and investigation ability. This area of accounting mainly deals with crimes related to Accounting firms such as authority misuse, money laundering and securities fraud.

Forensic Accounting

Work in this field of Accounting may involve:

•  Investigation of financial records and transactions.
•  Using computer applications to find out evidence.
•  Assembling findings and preparing reports and conclusions.
•  Testifying in court as an expert and providing supporting facts and data.


There are three major areas that are included in forensic accounting.

•  Investigation: Investigation is to determine whether or not criminal activities have occurred. While forensic accounting plays an important role in criminal law, it may also be used in civil cases.
•  Litigation Support: This is a sub area of the forensic accounting which involves assembling and presenting evidence of financial matters related to an existing or pending litigation.
•  Dispute Resolution: Forensic accountants also help in resolving legal disputes that occur during courtroom proceedings. Some may pursue specialized training to work in alternative dispute resolution.

A General Introduction to Accounting

Accounting is defined as the systematic reporting, recording and analysis of financial transaction of a business. Accountancy Firms Dublin is the firm that provide accountancy services to businesses in Dublin.
Accounting is the inclusive system of collecting and recording financial information of a business for the purpose of preparing reviews for tax authorizing, shareholders, managers and other who make decisions within the company.

The basic functions involved in accounting are as below:

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•    Recording: is simply the listing down of transactions in book of accounts known as journal. The business should take care that every transaction is recorded accordingly in a sequential order.
•    Classifying: is the method of grouping of accounts entry of the same type. A ledger is a book that keeps accounting transactions in accordance to accounts.
•    Summarizing: is the presentation of accounting data in a suitable and comprehensive way so that it may be useful to management and other users, including the trading, profit and loss accounts and balance sheets.
•    Financial Transactions: Accounting deals with recording only the financial transactions of the business. Other parts of the business which may help in the fulfillment of the task like proficient employees are not part of the accounting transactions.
•    Analysis: This is the end product of accounting that helps in the decision making by the management as it presents the current financial status of the company based on various business transactions done. It tells whether the business is earning or losing profits.