Accounting irregularities are at the heart of those kinds of frauds that hit financial statements and include misstatement, misclassification as well as misrepresentation. In essence, they involve manipulation of accounting data, description or disclosure in order to distort the true financial picture of the organization in question. The first two chapters give an overview of the financial reporting environments, the GAAP (generally accepted accounting principles) and the basics of accounting irregularities. Regardless of the exact form of accounting irregularities, most perpetrators often play tricks to creating financial illusions in four common directions ? selling more, costing less, owning more and owing less as discussed in Chapters 3-6. The seventh chapter considers various ways that perpetrators may use in manipulating the classification and disclosure of financial statements. Chapter 8 introduces other types of accounting irregularities under three scenarios: tax evasion, theft and commercial dispute. The concluding chapter sets out various possible deterrents to accounting irregularities in two dimensions: micro and macro. At the micro-level, deterrents are implemented within the authority of the organization in question, whilst the macro-level deterrents refer to the external environment beyond the controls of any individual organization. Beyond the number-crunching, this book provides an in-depth practical reference for those professionals who need to understand, prevent and combat against accounting irregularities in financial statements.