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Describe a Data-Driven Fraud Detection Model

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Describe a data-driven fraud detection model.


Definitions:

Direct Method

A way of preparing the cash flow statement where actual cash flows from operating activities are reported instead of adjustments to net income.

Sales Revenue

The total amount of money received by a company from selling goods or services before any expenses are deducted.

Balance Sheet Accounts

Accounts that are represented on the balance sheet, including assets, liabilities, and equity accounts.

Financing Activities

Involve transactions between a company and its investors and creditors, impacting the firm's capital structure.

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