Fraud accounting, also known as financial fraud or corporate fraud, is a deliberate attempt to misappropriate financial resources for personal gain or malicious intent. This type of fraud involves altering, fabricating, or omitting financial records in order to deceive creditors, investors, and other stakeholders about a company’s true financial position. Fraud accounting can happen in any business setting and is often used to hide fraudulent activities such as money laundering, insider trading, and tax evasion. It is essential that the business community take steps to prevent and detect fraud accounting before it has a damaging effect on the bottom line.