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Why MBA's Need Forensic Accounting Knowledge

An MBA is a degree that can benefit anyone who works in a business industry, especially those who are in management or executive positions. The acronym MBA actually represents 'Masters of Business Administration', and is the one of the most sought after of all degrees in the business world because it is quite valuable to the industry and people who work in business.

It is important for management students to learn how to protect themselves early with fraud fighting tools, because business-related fraud is all around us, and shows no signs of slowing down any time soon. A green management student who does not have much real world experience may not otherwise be prepared for some of the types of fraud, which occur every single day. In such case he can either be the part of the fraud or can be the victim of it. 

So how else will these businesses be protected, if these newly graduated management students are not able to educate and protect themselves? Anti-Fraud education is a highly effective method for fraud prevention for many different companies. Studies have been showing for a good long time now that fraud can easily be cut in half within companies that offer anti-fraud education. Educating a company's employees is giving the company all of the tools necessary to find and stop fraud. MBA students who come away from the Business schools with these tools in hand are going to be more successful than those who do not have a strong educational background in fraud-prevention, detection and investigation.

Regardless of whether you are in business for yourself, managing a company or simply a private citizen, you have probably lost money in some form or another to fraud in the past. Current MBA business management students should focus a great deal of their attention on learning how to combat against fraud, because the number of fraudulent transactions and schemes is growing every day and shows absolutely no sign of slowing down at any point in the future. Educated business management students can work to nip fraud in the bud, however, simply by preparing themselves before they ever need to use their fraud detection and elimination skills and techniques. 

MBA degrees are now being offered in Criminal Justice, with a serious focus on business fraud, and anti-fraud education measures. Many online and campus universities in US are offering these degrees to students who want to specialize in the elimination of business fraud, including Utica College, Florida Metropolitan University, De Vry College, Walden University, Virginia College Online, Capella University and the American Sentinel University. 

So what is this profession that U.S. News & World Report recently designated as one of the eight most secure career tracks in America (February 2002) and SmartMoney Magazine counted as one of its “ten hottest jobs” for the next decade with a salary potential of over $100,000 (AccountingWeb US, May 16, 2002)?

 Fraud is all around us, and educating yourself properly to tackle business fraud is a stellar first step in preparing yourself for the business industry.


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