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Fictitious sales
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Fictitious salesA scheme to record sales to fictitious customers or fictitious sales to existing customers at the end of one period and reversing the transactions at the beginning of the next period. The purpose of the scheme is to inflate sales to create false profit statements or earn unwarranted bonuses. Excessive credit memos or sales cancellations at the beginning of an accounting period can be an indicator of this fraud.
RELATED TERMS--------------------------------------
Record
1) Evidence. A written memorial made by a public officer authorized by law to perform that function, and intended to serve as evidence of something written, said, or done. 2) To record. The act of making a record.
Fictitious
1) Not real; feigned: as, a fictitious - action, case, issue, name, party, payee. 2) Imaginary; unsubstancial: as, fictitious bail. 3) Not made in good faith: as, a fictitious bid.
False
Not true; as, false pretences; unjust, unlawful, as, false imprisonment. This his word, is frequently used in composition.
Credit
Common law, contracts. The ability to borrow, on the opinion conceived by the lender that he will be repaid. This definition includes the effect and the immediate cause of credit. The debt due in consequence of such a contract is also called a credit; as, administrator of an the goods, chattels, effects and credits.
Fraud
Contracts, torts. Any trick or artifice employed by one person to induce another to fall into an error, or to detain him in it, so that he may make an agreement contrary to his interest. The fraud may consist either, first, in the misrepresentation, or, secondly, in the concealment of a material fact. Fraud, force and vexation, are odious in law.
SIMILAR TERMS--------------------------------------
Fictitious
1) Not real; feigned: as, a fictitious - action, case, issue, name, party, payee. 2) Imaginary; unsubstancial: as, fictitious bail. 3) Not made in good faith: as, a fictitious bid.
Fictitious actions
Practice. Suits brought. on pretended rights.
Fictitious payee
Contract. A supposed person; a payee, who has no existence.
Fictitious refunds scheme
Preparing false documents of refunds to cover thefts of cash. A retail cashiering fraud.
PREVIOUS AND NEXT TERMS--------------------------------------
Fiat justitia
Let justice be done.
Fictitious
1) Not real; feigned: as, a fictitious - action, case, issue, name, party, payee. 2) Imaginary; unsubstancial: as, fictitious bail. 3) Not made in good faith: as, a fictitious bid.
Fictitious actions
Practice. Suits brought. on pretended rights.
Fictitious payee
Contract. A supposed person; a payee, who has no existence.
Fictitious refunds scheme
Preparing false documents of refunds to cover thefts of cash. A retail cashiering fraud.
Fictitious sales
Fidei-commissary
Civil law. One who has a beneficial interest in an estate, which, for a time, is committed to the faith or trust of another. This term has nearly, the same meaning as cestui que trust has in our law.
Fidei-commissum
Civil law. A gift which a man makes to another, through the agency of a third person, who is requested to perform the desire of the giver. For example, when a testator writes, "I institute for my heir, Lucius Titius," he may add, "I pray my heir, Lucius Titius, to deliver, as soon as he shall be able, my succession to Caius Seius: cum igitur aliquis scripserit Lucius Tilius heres esto; potest ajicere, rogo te Luci Titi, ut cum poteris hereditatem meam adire, eam Caio Sceio reddas, restituas.
Fide-jussio
Civil law. The contract of suretyship.
Fide-jussor
Civil law. One who becomes security for the debt of another, promising to pay it in case the principal does not do so.
Fides
Latin. Trust, confidence, reliance; credence, belief, faith.
RELATED TERMS--------------------------------------
Record
1) Evidence. A written memorial made by a public officer authorized by law to perform that function, and intended to serve as evidence of something written, said, or done. 2) To record. The act of making a record.
Fictitious
1) Not real; feigned: as, a fictitious - action, case, issue, name, party, payee. 2) Imaginary; unsubstancial: as, fictitious bail. 3) Not made in good faith: as, a fictitious bid.
False
Not true; as, false pretences; unjust, unlawful, as, false imprisonment. This his word, is frequently used in composition.
Credit
Common law, contracts. The ability to borrow, on the opinion conceived by the lender that he will be repaid. This definition includes the effect and the immediate cause of credit. The debt due in consequence of such a contract is also called a credit; as, administrator of an the goods, chattels, effects and credits.
Fraud
Contracts, torts. Any trick or artifice employed by one person to induce another to fall into an error, or to detain him in it, so that he may make an agreement contrary to his interest. The fraud may consist either, first, in the misrepresentation, or, secondly, in the concealment of a material fact. Fraud, force and vexation, are odious in law.
SIMILAR TERMS--------------------------------------
Fictitious
1) Not real; feigned: as, a fictitious - action, case, issue, name, party, payee. 2) Imaginary; unsubstancial: as, fictitious bail. 3) Not made in good faith: as, a fictitious bid.
Fictitious actions
Practice. Suits brought. on pretended rights.
Fictitious payee
Contract. A supposed person; a payee, who has no existence.
Fictitious refunds scheme
Preparing false documents of refunds to cover thefts of cash. A retail cashiering fraud.
PREVIOUS AND NEXT TERMS--------------------------------------
Fiat justitia
Let justice be done.
Fictitious
1) Not real; feigned: as, a fictitious - action, case, issue, name, party, payee. 2) Imaginary; unsubstancial: as, fictitious bail. 3) Not made in good faith: as, a fictitious bid.
Fictitious actions
Practice. Suits brought. on pretended rights.
Fictitious payee
Contract. A supposed person; a payee, who has no existence.
Fictitious refunds scheme
Preparing false documents of refunds to cover thefts of cash. A retail cashiering fraud.
Fictitious sales
Fidei-commissary
Civil law. One who has a beneficial interest in an estate, which, for a time, is committed to the faith or trust of another. This term has nearly, the same meaning as cestui que trust has in our law.
Fidei-commissum
Civil law. A gift which a man makes to another, through the agency of a third person, who is requested to perform the desire of the giver. For example, when a testator writes, "I institute for my heir, Lucius Titius," he may add, "I pray my heir, Lucius Titius, to deliver, as soon as he shall be able, my succession to Caius Seius: cum igitur aliquis scripserit Lucius Tilius heres esto; potest ajicere, rogo te Luci Titi, ut cum poteris hereditatem meam adire, eam Caio Sceio reddas, restituas.
Fide-jussio
Civil law. The contract of suretyship.
Fide-jussor
Civil law. One who becomes security for the debt of another, promising to pay it in case the principal does not do so.
Fides
Latin. Trust, confidence, reliance; credence, belief, faith.
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This dictionary contains 8526 terms.
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