'Management fraud' involves intentional management misrepresentations that may lead to the inclusions of false amounts in or the omission of accounts or disclosure from financial statements. Subcategory I-A of management fraud is where financial statements are used fraudulently so the company receives direct benefits. This may be done to obtain credit, long-term financing, or additional capital investment not otherwise obtainable; to conceal inadequate performance by the company; or to evade tax liability. Subcategory I-B of management fraud involves fraudulent financial statements where the perpetrator receives direct benefits. This may be done to manipulate company stock value for the benefit of the perpetrating stock owners or to conceal inadequate management performance by the perpetrators. Subcategory II-A of management fraud involves the use of financial statements to disguise fraud so the company receives direct benefits. This may be done to conceal the sale or assignment of fictitious or misrepresented assets, to conceal prohibited business activities, or to conceal improper payments. Subcategory II-B of management fraud involves the disguising of financial statements so the perpetrators receive direct benefits. This is usually done to conceal the embezzlement of company funds or assets. Other types of business fraud not classified as 'management fraud' are consumer fraud, diversion to management of a potentially profitable transaction that would normally create profits for the company, and acceptance of bribes or kickbacks. A tabular classification of 'management fraud' acts is provided, along with footnotes.