...Corporate Fraud and Schemes ACC 571 – Forensic Accounting October 20, 2014 Russell Wasendorf was the owner and chief executive officer of Peregrine Financial Group based in Cedar Falls Iowa. He stared the business in 1967 in Iowa and later decided to move the company to Chicago. Not long ago, he decided to move the company back to Iowa convincing many of his colleagues to move with him. Peregrine Financial Group had many customers and clients who trusted that the money invested and managed by Peregrine would be safe and potentially provide strong dividends in the future. In July 2012, the company filed for Chapter 7 bankruptcy and Russell Wasendoff was arrested for corporate fraud. According to the IRS (irs.gov), Wasendorf stole more than $215,000,000 from more than 13,000 victims over the course of nearly 20 years. The fraud that was committed was misappropriation of funds and falsifying bank statements. National Futures Association, the regulators for Peregrine, came to the harsh realization when they decided to change the audit procedure to online. According to New York Times (www.nytimes.com) “The N.F.A. was in the middle of changing part of its audit process to an online platform, where bank statement information would feed directly to the regulator. This month, Peregrine was facing its first audit under the new system, called confirmation.com, and Mr. Wasendorf was opposed to the system”. Previously, Wasendorf was the only person...
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...Case Analysis: Loewen 1. Loewen was able to grow between 1990 and 1995 through pre-need sales, or sales of cemetery plots for future use. While the pre-arranged funeral service revenues could not be recognized immediately, revenues from the pre-sale of cemetery plots could be. With the Baby-Boomer generation aging into their 50s and 60s, this market represented the major source of growth in the early 1990s. We do not believe Loewen created value with this source of revenue as it was simply benefitting from these customers earlier than otherwise would have been expected.(What about investment income on Cash in Advance?). We feel that pre-selling the cemetery plots only served to steal from revenues that would have normally been expected in the future (may need to add quantitative analysis here). 2. Financial comparison between Loewen and SCI from 1996 to 1998: a. Gross Margin – While SCI enjoyed stable gross margins ranging from 31.08% to 30.58% from the period of 1996 to 1998, while Loewen’s gross margins over the same period declined from 36.54% to 25.68%, reduction to GM of 29.72% (see Financial Comparison Table below). Both companies shared the strategy of growing through acquisition, however SCI focused more on owning acquisitions outright and seemed to realize operational efficiencies and shared fixed costs demonstrated by their consistent GM. Loewen took a less invasive approach and almost requiring original management to remain in place for certain time...
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...two types: liquidation and reorganization. The U.S. Court of Bankruptcy (2015), states that among the popular proceedings are chapters 7, 11, 12, and 13, which individuals and businesses use to file. Chapter 7 bankruptcies normally fall into the liquidation category. This means that an individual’s own property can be taken away and sold in the process of liquidation in order to pay back the debts. Conversely, chapter 13 bankruptcies fall under the reorganization category, meaning that the individuals will probably be able to keep their property, but they must submit and stick to a plan that will allow the person to repay some or all of their debts within 3 to 5 years. A case filed under chapter 11 of the United States bankruptcy code is frequently referred to as a reorganization bankruptcy. Its bankruptcy proceedings are usually employed by struggling businesses as a way to get their affairs in order and pay off their debts. In addition, some individuals also file for chapter 11 bankruptcy when they are not eligible for chapter 13 bankruptcy or own large amount of non-exempt property (like a home). However, chapter 11 can be much more expensive and time consuming when compared to chapter 13, and the individual will probably need to speak to a lawyer to decide whether chapter 11 is the right pick for them (U.S. Court for Bankruptcy, 2015). The chapter 12...
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...MGMT 307 Sample Final Exam 1. ___________ describes how dependable and responsible a person is. A. Emotional stability B. Conscientiousness C. Extroversion D. Locus of control E. Self-efficacy 2. Meg is very relaxed and secure. Meg is probably high in A. emotional stability. B. conscientiousness. C. extroversion. D. agreeableness. E. openness to experience. 3. The statement, "My boss doesn't know how to do his job," reflects the __________ component of an attitude. A. behavioral B. decisional C. cognitive D. affective E. value 4. Bethany is writing a paper for her management class. She already has a strong 'A' in the class, and only needs to get a C on the paper to keep her A. As she prepares the final version of the paper, she takes special care that the paper is well-written, insightful, and error-free, something that she can be proud of. Bethany is experiencing A. an intrinsic reward. B. high equity. C. a belongingness need. D. a hygiene factor. E. a high need for affiliation. 5. The need that is met by providing autonomy and control to employees over how they do their jobs is A. self-actualization. B. esteem. C. love. D. safety. E. physiological. 6. A manager wants to improve how her employees' belongingness or love needs are met. To do so, she could A. give public recognition for good job performance. B. hire a guard for the parking lot. C. send employees to a training class. D. redesign individual...
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...Week 3 Knowledge Check The material presented below is not meant to be a comprehensive list of all you need to know in the content area. Rather it is a starting point for building your knowledge and skills. Additional study materials are recommended in each area below to help you master the material. Personalized Study Guide Results: Score: 17 / 18 Concepts Mastery Questions Stakeholder Influence 67% 123 Ethical Differences 100% 456 Rules of Ethical Decision Making 100% 789 Laws Affecting Business Commerce 100% 101112 Laws Affecting Business Occupation 100% 131415 Laws Affecting Business Organization 100% 161718 Concept: Stakeholder Influence Mastery 67% Questions 123 Materials on the concept: Stakeholders and Business Ethics 1. Which of the following people or groups supply a company with productive resources and are affected by the way a company does business? A. Stakeholders B. Customers C. Employees D. Managers Correct : “Stakeholders (are) people or groups of people who supply a company with its productive resources and thereby have an interest in how the company behaves” (Jones, 2007, p. 144). Materials Stakeholders and Business Ethics 2. Who has a claim on a company because they own shares? A. Employees B. Stockholders C. Customers D. Managers Correct : Stockholders own shares (stock) of a company; therefore, they have a claim on the company’s profits in the form of dividends. Materials Stakeholders...
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...fix it" refers to managing by crisis. 6) The overall aim of the Balanced Scorecard is to balance financial objectives with strategic objectives. 7) Since a combination strategy bears no risk, many organizations pursue a combination of two or more strategies simultaneously. 8) Horizontal integration is seeking ownership or increased control over competitors. 9) Divestiture is selling all of a company's assets, in parts, for their tangible worth. 10) A chief executive officer is located in the divisional level of a large firm. 11) Gaining ownership or increased control over distributors or retailers is called forward integration strategy. 12) Franchising is an effective means of implementing forward integration. 13) A growing trend is for franchisers to buy out their part of the business from their franchisees. 14) McDonalds currently owns more than 50 percent of its restaurants. 15) Forward integration strategy is especially effective when the availability of quality distributors is so limited as to offer a competitive advantage to those firms that...
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...fix it" refers to managing by crisis. 6) The overall aim of the Balanced Scorecard is to balance financial objectives with strategic objectives. 7) Since a combination strategy bears no risk, many organizations pursue a combination of two or more strategies simultaneously. 8) Horizontal integration is seeking ownership or increased control over competitors. 9) Divestiture is selling all of a company's assets, in parts, for their tangible worth. 10) A chief executive officer is located in the divisional level of a large firm. 11) Gaining ownership or increased control over distributors or retailers is called forward integration strategy. 12) Franchising is an effective means of implementing forward integration. 13) A growing trend is for franchisers to buy out their part of the business from their franchisees. 14) McDonalds currently owns more than 50 percent of its restaurants. 15) Forward integration strategy is especially effective when the availability of quality distributors is so limited as to offer a competitive advantage to those firms that...
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...Legal Environment of Business Unit 2 Discussion Board American Intercontinental University Online November 14, 2012 Legal Environment of Business There are three types of bankruptcy – Chapter 7, Chapter 11 and Chapter 13. This discussion board post will discuss who can file Chapter 7 bankruptcy. Also discussed will be reasons why people file bankruptcy and how interest rates on loans and credit cards are affected by bankruptcy. The Chapter 7 bankruptcy is also referred to as liquidation, Chapter 11 bankruptcy is the reorganization of debt and Chapter 13 bankruptcy is the adjustment of debts of an individual with regular income (Types of Bankruptcy, 2011). An individual may file bankruptcy if they reside in the United States, within the last 6 years must not have been approved for a Chapter 7 release, and must not have been dismissed for bankruptcy filing within the last 180 days (Chapter 7, 2012). Within 6 months of filing for Chapter 7 bankruptcy, a person must also complete debt counseling classes and must pass a means test. A means test is a financial test given to see if a person qualifies for bankruptcy (Chapter 7, 2012). Although there are many reasons why a person would file for bankruptcy, only a few reasons will be mentioned in this discussion. The number one reason for filing for bankruptcy is medical expenses. Forty-two percent of those who filed for bankruptcy in 2010 were due to medical expenses. Twenty-two percent of bankruptcies were due to job loss...
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...Physical Networking: Syllabus NT1310 NT1310 Physical Networking SYLLABUS Credit hours: 4.5 Contact /Instructional hours: 56 (34 Theory, 22 Lab) Prerequisite(s):NT1210 Introduction to Networking or equivalent © ITT Educational Services, Inc. All Rights Reserved. -1- 03/02/2012 NT1310 Physical Networking SYLLABUS COURSE SUMMARY COURSE DESCRIPTION This course examines industry standards and practices involving the physical components of networking technologies (such as wiring standards and practices, various media and interconnection components), networking devices and their specifications and functions. Students will practice designing physical network solutions based on appropriate capacity planning and implementing various installations, testing and troubleshooting techniques for a computer network. MAJOR INSTRUCTIONAL AREAS 1. 2. 3. 4. 5. 6. 7. 8. 9. Telecommunications Cabling Specifications and Constraints Cabling Tools and Media Network Equipment for Wired and Wireless Networks Cable Testing Fiber Optics and Light Principles Fiber-Optic Cables, Splicing and Connectors Fiber-Optic Light Sources, Detectors and Receivers Fiber-Optic Considerations and Testing COURSE OBJECTIVES 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. Distinguish between bandwidth, frequency, and data rate in a data network Explain the importance of codes, standards, and specifications. Compare and contrast network topologies ...
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...paper) Acquisti, Alessandro, and Gross, Ralph. (2009). Predicting Social Security numbers from public data. Proceedings of the National Academy of Sciences, 106 (27), 10975-10980. (journal article) Adamic, Lada, Buyukkokten,Orkut, and Eytan Adar. (2003). A social network caught in the Web. First Monday, 8 (6). (journal article) Adrien Guille, Hakim Hacid, Cécile Favre, and Djamel A. Zighed. (2013). Information diffusion in online social networks: a survey. SIGMOD Record, 42 (2). (journal article) Agarwal, S., and Mital, M.. (2009). Focus on Business Practices: An Exploratory Study of Indian University Students' Use of Social Networking Web Sites: Implications for the Workplace. Business Communication Quarterly. (journal article) Ahmed OH, Sullivan SJ, Schneiders AG, and McCrory P. (2010). iSupport: do social networking sites have a role to play in concussion awareness? . Disability and Rehabilitation, 32(22), 1877-1883. (journal article) Ahn, June. (2012). Teenagers’ experiences with social network sites: Relationships to bridging and bonding social capital. The Information Society, 28(2), 99-109. (journal article) Ahn, June. (2012). Teenagers and social network sites: Do...
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...Chapter 1 The Problem and its Background Introduction Social networks are a popular trend today, especially among college students. This is where people can interact freely, sharing and discussing about their lives. Individuals and groups begin to engage in person-to-person conversation at these websites. They appear in many forms like blogs, microblogs, forums and many others. Facebook, Twitter and Tumblr are one of the many social networks that are well-known. The potential for computer networking to facilitate newly improved forms of computer-mediated social interaction was suggested early on. Efforts to support social networks via computer-mediated communication were made in many early online services, including Usenet, ARPANET, LISTSERV, and bulletin board services (BBS). Many prototypical features of social networking sites were also present in online services such as America Online, Prodigy, CompuServe, ChatNet, and The WELL. Early social networking on the World Wide Web began in the form of generalized online communities such as Theglobe.com (1995), Geocities (1994) and Tripod.com (1995). Many of these early communities focused on bringing people together to interact with each other through chat rooms, and encouraged users to share personal information and ideas via personal webpages by providing easy-to-use publishing tools and free or inexpensive webspace. Some communities - such as Classmates.com - took a different approach by simply having people link to each other...
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...Practical Credits 4 0 0 4 Text Book: 1 Behrouz A. Forouzan, Data Communication and networking, 4th Ed., Tata McGraw Hills year of publication 2006 Other Specific Book: 2 Andrew S. Tanenbaum,Computer Network 2nd Edition, PHI, Third Edition 1997 3 Comer E. Doughlas,Computer Networks and Internets, 2nd Ed., Pearson, 2000 4 W. Stallings,Data and Computer Communications, 7th Ed., Pearson, 2002. 5 Black U,Computer Networks-Protocols, Standards and Interfaces, PHI 1996 Other Reading Sr No Jouranls atricles as compulsary readings (specific articles, Complete reference) Relevant Websites Sr. No. (Web adress) (only if relevant to the courses) 6 http://authors.phptr.com/tanenbaumcn4/ 7 http://williamstallings.com/DCC6e.html 8 http://www.mhhe.com/forouzan/dcn4sie 9 http://en.wikipedia.org/wiki/Computer_network Salient Features Website on reference book Website on reference book website on text book Provides information on basic concepts of networking 10 http://compnetworking.about.com/od/basicnetworkingconcepts Networking Basics - Key Concepts in Computer Networking /Networking_Basics_Key_Concepts_in_Computer_Networking .htm 1 Approved for Spring Session 2011-12 11 http://www.cisco.com/web/learning/netacad/course_catalog/P Tools required to understand the course: Boson Netsim / Packet Tracer acketTracer.html Detailed Plan For Lectures Week Number Lecture Number Lecture Topic Chapters/Sections of Pedagogical tool Textbook/other Demonstration/case reference study/images/anmatio...
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...NT1430 Linux Networking STUDENT COPY: Assignment 1 for All Units Assignment 1 for All Units: Chapter Exercises (NT1430.GA1) Learning Objectives and Outcomes Each unit exercise covers the Learning Objectives and Outcomes for that unit. You can review those objectives and outcomes in your syllabus. Assignment Requirements Type out answers for the end-of-chapter exercise questions indicated in the list below for each unit. You will be graded on accuracy and completeness. Required Resources Sobell, M. G. (2012). A practical guide to Fedora and Red Hat Enterprise Linux. (6 ed.). Upper Saddle River, NJ: Prentice Hall. th Submission Requirements Submit your word-processed answers to your instructor at the beginning of the next class after the assignment. Units 1-10 Chapter Exercises Unit 1 § § § § Unit 2 § § Unit 3 § § § Unit 4 § § Sobell, Chapter 14, p. 582, Exercises 1-5 Sobell, Chapter 10, p. 403, Exercise 1 Sobell, Chapter 7, pp. 251, Exercises 1, 3, 4, 8 Sobell, Chapter 9, pp. 356, Exercises 1, 2, 3, 4, 5, 6, 8 Sobell, Chapter 9, pp. 357, Advanced Exercises 10, 11 Sobell, Chapter 5, p. 182, Exercises 1, 3, 4, 8, 10 Sobell, Chapter 6, p. 221, Exercises 1, 2, 3, 4, 6 Chapter 1, pp. 20-21, Exercises 1, 4 Chapter 2, p. 53, Exercise 1 Chapter 3, p. 86, Exercises 1, 4, 8 Chapter 11, p. 498, Exercises 1, 3, 7 © ITT Educational Services, Inc. All Rights Reserved. -118- Change Date: 05/30/2012 NT1430 Linux Networking STUDENT COPY: Assignment 1 for All...
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...Technical Institute NT1210 Introduction to Networking Onsite Course SYLLABUS Credit hours: 4.5 Contact/Instructional hours: 56 (34 Theory Hours, 22 Lab Hours) Prerequisite(s) and/or Corequisite(s): Prerequisites: NT1110 Computer Structure and Logic or equivalent Course Description: This course serves as a foundation for the study of computer networking technologies. Concepts in data communications, such as signaling, coding and decoding, multiplexing, circuit switching and packet switching, OSI and TCP/IP models, LAN/WAN protocols, network devices and their functions, topologies and capabilities are discussed. Industry standards and the development of networking technologies are surveyed in conjunction with a basic awareness of software and hardware components used in typical networking and internetworking environments Introduction to Networking Syllabus Where Does This Course Belong? This course is required for the associate program in Network System Administration and the associate program in Electrical Engineering Technology. The following diagrams demonstrate how this course fits in each program. Associate Program in Network Systems Administration NT2799 NSA Capstone Project NT2580 Introduction to Information Security NT2670 Email and Web Services NT2640 IP Networking PT2520 Database Concepts NT1330 Client-Server Networking II NT1230 Client-Server Networking I NT1430 Linux Networking PT1420 Introduction to Programming NT1110...
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...Technical Institute NT1210 Introduction to Networking Onsite Course SYLLABUS Credit hours: 4.5 Contact/Instructional hours: 56 (34 Theory Hours, 22 Lab Hours) Prerequisite(s) and/or Corequisite(s): Prerequisites: NT1110 Computer Structure and Logic or equivalent Course Description: This course serves as a foundation for the study of computer networking technologies. Concepts in data communications, such as signaling, coding and decoding, multiplexing, circuit switching and packet switching, OSI and TCP/IP models, LAN/WAN protocols, network devices and their functions, topologies and capabilities are discussed. Industry standards and the development of networking technologies are surveyed in conjunction with a basic awareness of software and hardware components used in typical networking and internetworking environments Introduction to Networking Syllabus Where Does This Course Belong? This course is required for the associate program in Network System Administration and the associate program in Electrical Engineering Technology. The following diagrams demonstrate how this course fits in each program. Associate Program in Network Systems Administration NT2799 NSA Capstone Project NT2580 Introduction to Information Security NT2670 Email and Web Services NT2640 IP Networking PT2520 Database Concepts NT1330 Client-Server Networking II NT1230 Client-Server Networking I NT1430 Linux Networking PT1420 Introduction to Programming NT1110...
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