...Week 7 Assignment 2: Cardillo Travel Systems, Inc. Jerrod A. Johnson ACC562 Dr. J. Olajide, Instructor February 23, 2014 Explain the Securities and Exchange Commission’s rationale to charge Cardillo with each of the following violations: * Making false representations to outside auditors * Failing to maintain accurate financial records * Failing to file prompt financial reports with the SEC * Violating the insider trading provisions of the federal securities laws Within the mission statement of the U.S. Securities and Exchange Commission it declares that: “… all investors, whether a large institution or private individuals, should have access to certain basic facts about an investment…” Cardillo Travel Systems, Inc., its chairman and chief executive officer A. Walter Rognlien, its president and chief operating officer Esther I. Lawrence and its vice president of finance William Kaye all attempted to defraud auditors and the general public by presenting financial documents that contained misleading information. It is the responsibility of the SEC to protect the investor, whether large or small, from organizations that intentionally misrepresent themselves financially or take advantage of information that the general public is not privy too in order to better their financial situation. This is done so that we can make informed decisions about potential investments and to maintain a fair marketplace. Determine who was in violation or compliance...
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...Alia Ejaz Khan Acc 723 Case 5.1 Cardillo Travel Systems Inc. 1. Three accountants faced an ethical problem. One account, Russell Smith was the controller for Cardillo, the other two accountants were engagement partners named Helen Shepherd and Roger Shlonsky. The two engagement partners had an issue of whether they should accept the insufficient explanation agreed for a highly suspicious transaction or should they risk losing the client by simply inquiring and asking for more details about the transaction or ask them to fix that transaction. On the other hand, Russell smith had to handle an issue of losing his job because he refused to cooperate with Rognlien or go against all his ethical responsibilities and principles towards his profession. People who were mainly affected by the outcome of such issues were the stockholders and creditors of Cardillo along with the three accountants mentioned above. These accountants had a personal liability and accountability to the stockholders and creditors of the company. They are very dependent on the financial data of the company which help them to make their decisions such as investing in the company and etc. Also, part of their responsibilities was to guide them to the right pathway towards executives of the company who were the ones influencing the accountants. Moreover, part of their responsibility towards their work as well as their coworkers is to always maintain a professional relationship consisting of dignity and honesty...
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...Zach Johnson Case 2- Cardillo Travel Systems 1.) Russel Smith and Helen Shepard faced ethical dilemmas when dealing with the Cardillo Case because they were being pressured to sign off on the transaction between them and United Airlines that was misrepresented as revenue. The SEC, IRS, stockholders, United Airlines, and financial analysts would have been affected by this misappropriation of revenue. Smith owed the responsibility of good faith to all of these stakeholders because he knew what was right and the company executives pressured him into possibly altering the financial statements in Cardillo’s favor. Shepard had the responsibility to verify that the contractual agreement indeed allowed Cardillo to recognize the revenue in the 2nd quarter, but after further investigation this was not the case. Cardillo executives lied to Shepard which was very unethical, and since she caught this, Cardillo dropped Touche as their audit client. Shepard maintained independence and did what was morally correct and also correct by reporting the disagreement to the SEC. 2.) They should verify that all the numbers in the account match up to what is being portrayed on the financial statements. After that they should check each transaction in the account and question the transaction, which Shepard did correctly. She had suspicion and she took the correct path to determining the proper amount. The auditors should have immediately notified Shepard of any suspicious transactions and allow...
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...TF essay A/ Write a passage 1. Airplanes and helicopters can be used to saved people’s lives. First helicopters can be used for rescuing people in trouble. Try to imagine, when you’re lost in the dense forest or in the mountaintop, airplanes and helicopters are very essential. At that time, they’re your last hope! Second, planes can transport food and supplies when disasters- earthquake, volcano, flood, etc- strike. Third, both types off aircraft can transport people to hospitals in emergencies. For example, transform suddenly, blood poisoning, cardiac infarction, etc. Finally, helicopters and airplanes can be used to provide medical services to people who live in remote areas. They haven’t full live. They are destute of many things. So, people in the cities want to collect for them. But, the transportion by cars or trains is not simple and very long. That is why people need the helping of aircraft. In summary, airplanes and helicopters are very useful to save people. 2. Studying in another country is advantageous in many ways. A student is exposed to a new culture. He or she is able to have knowledge about that country’s condition of life, festivals, etc. That student’ll be in contact with many interesting and useful things. He or she can tell his/her friends in this country about traditional culture of their country and scenic beauties,etc. That’s also a form of cultural exchange among 2 countries. Sometimes he or she can learn a new language. Learning a new...
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...Case Study – Effective Communication: Partnership in Italy Melissa Chang was asked to travel to Venice, Italy and meet with her company’s partnering company. Preparation for the trip was stressful. Not only had her colleague cancelled their recent trip to Moscow at the last minute, making the US partner look bad, but the Italian partner had made several requests for information which none of Melissa’s colleagues had fulfilled. She learned all of this information upon making phone contact with their office to confirm her travel plans. After that initial phone call, Melissa was not looking forward to the trip. She felt that her company had not upheld basic business standards, and adding a language barrier to the equation did not make things any smoother. She was very hesitant to make the trip and felt very guarded. She knew her Italian counterparts were frustrated and she could relate to their feelings. However, she also had a job to do – get more work out of them. If things did not get cleared up quickly, they could potentially loose the partnership. Melissa dreaded having to be the one to deliver that piece of news. Once in Venice and face-to-face with the partners, Melissa quickly realized their source of frustration. From their perspective, the US partner had not upheld their end of the business deal by providing some basic product information. Melissa had that information with her and easily provided the files. She was able to answer all their questions...
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...As we know, not everybody may like the same thing as one another. Bob may enjoy the taste of coffee while Mary finds it awful. Everybody is different. Which connects to my next point, we must keep in mind that not everybody has the same motivation to travel. Two people can be travelling to the same destination but with different motives. Being in the hospitality and tourism industry, it is important for us to know what motivates our consumers in order to fulfill and exceed their expectations, and how to better ourselves to ensure they return home happier than before they left. The number one reason as to why consumers have a desire to travel is to fulfill a need what ever that may be. According to Maslow’s hierarchy of needs, a trip may satisfy one’s disparate need. It is important for us to recognize these needs since it will allow for a successful business. When tourism operations meet or exceed the consumer’s expectations, the particular tourism operation can expect repeat business and for the consumers to spread the word to friends and family about the great service. Also, the company will have the ability to maintain or even increase their current service charges. Take Disneyland for example, when Disneyland first opened their doors it cost a few cents to a few dollars to enter the theme park. Decades later, tickets cost nearly hundreds of dollars if not more, yet consumers are willing to pay for their service because they had a great experience, or heard about it from...
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...My Adventurous Journey Travelling has always excited me and when it gets more adventurous it is more interesting. I love travelling and so do my parents. So whenever they get time, we set out for our great journeys that are filled with lots of adventures, fun and excitement. This time we thought we would go trekking. I was so excited that I could not sleep for days. I have only seen in movies and read in books how difficult it is and how one does trekking. My father told me that I would not be allowed great heights and no fuss at the location and so I had no choice, other than listen to him. We, along with our family friends, on our holidays planned our trip and started preparations for it. We used to do our daily exercises so that it would strengthen our bones and muscles for the climb. On the D-day we were so excited that we kids could not control it. With lots of instructions and warnings we stared our journey and the much awaited journey came to an end. When we reached our destination. It was real fun. First we kids were allowed to climb for a small height. It was really adventurous. Stepping on the foot of a mountain to climb it is really exciting. We tried hard, but could not make it to a good height that we could. Then our parents went and they too had a tough time. Slipping and falling and then again retrying, it was all so much fun. We then took a break and tried climbing once again, this time getting better. We were briefed with the risks involved and so...
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...thousand people. Royal Bhutan Airlines was contemplating how to increase size and lower costs by online booking, increased domestic travel, and alliance partnerships. Issues: The major issues that interfered with growth was corporate culture, tariffs, seasonal traffic, and logistical burdens. For starters, Royal Bhutan Airlines was a direct extension from the government since it was designed as a taxi service for Indian officials. They were set on preserving the pristine nature of the Bhutan culture, religious and geographically. Hence why they set small limits on tourists coming in and out of the country. Tariffs caused higher prices on people traveling to the country due to having to go through specific travel agents. Season trends were a large portion of the problem for Royal Bhutan Airlines. To solve this problem, consider buying smaller more economical planes that are only used during slower seasons. It would help with the load percentage. During peak seasons bring out the larger aircrafts. This would also reduce wear and tear on the planes. Logistical burdens were probably the largest issue. Opening up the online booking sector for tourists will significantly decrease difficulty and increase interest for tourists. It will also allow for increased accuracy of numbers in and out of the country. The less time spent booking travel, the more time spent in Bhutan. Another logistical issue was whether or not...
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...that you get to interact with different cultures and experience a lot of new things. Obviously how much it broadens your mind depends on how you travel rather than when or how often you do it. In my case, traveling has really made an impression on my life, I have learned so many things by doing it that I would do it again without thinking about it. The most amazing trip I have ever had was the first time I visited the United States of America. That was such an amazing experience, I learned as much as I could. First of all, I thought I already knew how to speak English until I had my first real conversation with an American, by the time we finished talking, I was so disappointed that I started talking to every man I could talk to and had my parents make me order the food in restaurants and fast food places, that was very funny and difficult at first but it became easier throughout the days. Also, I never thought there was going to be such a big difference between cultures, people were so different, I really thought that I was in another world and got pretty impressed with the clean environment I was surrounded by, that is another very important thing you learn while you travel, how people cares in different ways about the place they live in. Finally, the best way to get more than just experience when you are travelling is to travel with a purpose, by doing that, everything will become a lot easier. Gerhard Hernandez Writing Composition 1013 Alyson Martin...
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...One reason one might travel is for Relaxation. All work and no play is not a good thing. People need to get away from the stress of their everyday life, and a nice sunny location with a beach might just be what that person needs to relax. Another reason one might travel is to visit family and friends. Many people have family members and friends that are located in different parts of the world. They need to visit with them even if it’s for a short period of time. Another reason one might travel is to Celebrate. Many people travel to celebrate special occasions such as: a wedding, anniversary, birthday, or birth. There’s always something to celebrate and it doesn’t always happen where you live. Another reason one might travel is to go on a Honeymoon. When people get married they usually celebrate their wedding by going on a Honeymoon. This usually occurs after a wedding, but there are many occasions where people celebrate their honeymoon years later. Another reason one might travel is work related. Job requirements might mean a fair bit of travel is involved. Even if the travel is within your own country it still has a purpose attached to it. My most recent travel experience was to Six Flags over Georgia. My reason for traveling was to get away from my hometown and go somewhere and have fun and enjoy myself. We chose to go to Six Flags over Georgia because we enjoy riding the rides in the amusement park, and we also were able to go to the water park (White...
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...you want to go. Unfortunately, there are times for every airline when things don’t go to plan, often because we have your safety as our highest priority. If you are inconvenienced as a result, we think it’s important to know what you can expect from us, and that you know we will always be helpful, fair, open and consistent. That’s why we’ve created our 10 point Jetstar Customer Guarantee, so that in the unlikely event something does affect your journey with us, you know exactly what to expect. 1. 2. 3. 4. Your safety is our highest priority We commit to provide the lowest fares with our ‘Price Beat Guarantee’ Our team are always here to help, 24 hours a day, 7 days a week We’ll let you know your choices if your flight is changed before you travel 5. We’ll keep you updated and provide options if things don’t go to plan on the day 6. You will get what you paid for 7. You can have confidence in how quickly we will respond to an issue 8. You can have confidence in how quickly we will refund your money 9. We share your passion for protecting our environment 10. We commit to the privacy of your personal information This Jetstar Customer Guarantee applies to all flights operated by our Australian, New Zealand and Singapore businesses. The commitments in this Jetstar Customer Guarantee apply in addition to any rights you have under our Conditions of Carriage or under law. Page 1 of 1 1. Your...
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...time you travel keep these category in mind and try to map it with people you see on airport :) And Have Fun 1) The Techie: Only one criteria for being in this category , you have to have at least 6-7 gadgets while in your luggage .You have to show all of them in 1 hr + talk on phone once about some COOOOL thing . Person who can do this is A Techie . Most of the time they will have Music player phone in hand in between they will open Tabs type few emails , chat with few friends ,how can we forget “Update FaceBook status ” . Don’t expect a return smile if you get an eye contact with them , because they might be listening music or talking on phone . You might look Fool Smiling to them everything you get eye contact with them. Lol. 2) Sleepers :: These are typically transit passengers . Be it just 30 mins or Couple of Hours between flight they like to sleep and Boy!! they sleep well . Sleeping with all the luggage surrounding and using small bag as Neck rest they find all kind of postures to make them sleep.Beware these people are the major reason Flights getting delayed . When that happens the state showing properties of "The Great angry traveler" In fact this is the most popular category in “Type of people you see on airport” This is so famous that they have online Guild “101 ways to sleep in airport”. http://www.sleepinginairports.net/tips.htm 3) Watchman :: They Just cannot sleep , if could be 7-8 day of their travel + comfortable...
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...Reasons for traveling include recreation,[5] tourism[5] or vacationing,[5] research travel[5] for the gathering of information, for holiday to visit people, volunteer travel for charity, migration to begin life somewhere else, religious pilgrimages[5] and mission trips, business travel,[5] trade,[5] commuting, and other reasons, such as to obtain health care[5] or fleeing war or for the enjoyment of traveling. Travel may occur by human-powered transport such as walking or bicycling, or with vehicles, such as public transport, automobiles, trains and airplanes. Motives to travel include pleasure,[6] relaxation, discovery and exploration,[5] getting to know other cultures[5] and taking personal time for building interpersonal relationships. Travel may be local, regional, national (domestic) or international. In some countries, non-local internal travel may require an internal passport, while international travel typically requires a passport and visa. A trip may also be part of a round trip, which is a particular type of travel whereby a person moves from their usual residence to one or several locations and returns. Travel safety See also: Air safety and Automobile safety Travelers in a China Southern Airlines airplane. Air travel is a common means of transport. It's important to take precautions to ensure travel safety.[7] When traveling abroad, the odds favor a safe and incident-free trip, however, travelers can be subject to difficulties, crime and violence.[8] Some...
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...Check our spots or contact us at: Internet: www.SportyTravel.com Email: Sportytravel@swagster.com Telephone: 71 71 71 71 Check our spots or contact us at: Internet: www.SportyTravel.com Email: Sportytravel@swagster.com Telephone: 71 71 71 71 Be in the GAME! Be in the GAME! Sporty Travel Sporty Travel Non-allowed costumers: * Pregnant women * People wearing yellow clothes * Aliens * No pets allowed (expect dogs and guinea pigs) Non-allowed costumers: * Pregnant women * People wearing yellow clothes * Aliens * No pets allowed (expect dogs and guinea pigs) This offer includes: * Travelling to any sport-event. * A guide who helps you on your jurney. (The 3 first pills are for free, after that it's 150$ per pill) * Pill(s) which keeps you invisible on the journey. (Keeps you from affecting the future) This offer includes: * Travelling to any sport-event. * A guide who helps you on your jurney. (The 3 first pills are for free, after that it's 150$ per pill) * Pill(s) which keeps you invisible on the journey. (Keeps you from affecting the future) SportyTravel is a new and popular amusement founded by four young intelligent Danish students. Our headquarter finds place in Chistiansfeld, Denmark. But, do not worry, we have travelling spots at many countries in the world. SportyTravel is a new and popular amusement founded by four young intelligent Danish students. Our headquarter finds place in...
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...INTENT TO TRAVEL FORM NSHS Music Dept. Spring Trip ‘16 This form is to confirm your intentions regarding our Spring Music trip to participate and compete in the 2016 Music in the Parks Festival in Williamsburg, VA. Trip leaves NSHS Thurs. April 14th in the morning and returns Sunday night April 17th. (Trip Details will be found at www.nsmusic.org). We are asking all students to complete this form and return it by Thursday September 3rd. We need to have an accurate count of who intends to travel with us and who does not. We hope all band members will choose to attend, as we are competing with our band and chorus and need all of our musicians to be competitive. Students are asked to make the initial deposit of $200 (CHECKS PAYABLE TO ‘MEANS’) by Thursday, October 1st COST OF TRIP IS $650.00. Payments can be made directly from student accounts. We will post student account balances each month here at school. For all participating students we are asking for you to maintain the following payment schedule so that MEANS can make the appropriate payments to the travel agent. You may make payments ahead of time, but we ask that you not fall behind this schedule. If there any questions or special challenges with meeting this payment schedule, please your child’s music teacher ASAP. NOTE: ALL TRIP PAYMENTS ARE CHECKS MADE OUT TO “MEANS” 10/1/15 11/1/15 12/1/15 2/24/16 $200.00 initial deposit due (with the slip below) $150.00 deposit due $150.00 deposit due ...
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