...handouts which cover: 1 2 3 4 The investigation as a whole Planning Stage Developing Stage Evaluation Stage Handouts 1 and 2 could be distributed at the start of the investigation while the other two could be given to students once they completed the previous stage of their investigation and are ready to embark on the next part of the process. If desired, all could be handed out at the start of the investigation. Investigation In order to successfully complete the HND in Business with Accounting you must undertake an investigation of a business issue. This is a graded assessment and you will be given a grade for your work. Your grade will be determined by your mark: Grade A — 70% – 100% Grade B — 60% – 69% Grade C — 50% – 59% If you do not achieve 50%, you will not achieve in this Unit. You are required to investigate a business issue and to assess its implications for a business or a number of businesses. The investigation has three stages: 1 Planning stage — for this you must prepare a brief for your investigation and devise a plan to carry it out. This stage carries 24% of the total marks. Developing stage — this carries 52% of the total marks and requires you to produce a written report of your investigation. Evaluating stage — for this you must provide an evaluation of the effectiveness of all parts of your investigation. This stage carries 24% of the total marks. 2 3 Throughout the planning and development stages of the investigation you will produce a log of activities...
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...Forensic Elite: Detective of Numbers Tara Albright Strayer University BUS 504 Contemporary Business February 24, 2013 Dr. Jason M. Barrett Forensic Elite: Detective of Numbers No one in the world likes a snitch. In the early 2000’s the urban campaign “Stop Snitching or Die” changed the face of whistle blowing in the United States (Masten, 2009). Neighborhood violence during the “Stop Snitching or Die” campaign increased as law abiding citizen cowered inside their homes as gun shots rang out feet away from their doorsteps (Masten, 2009). In corporate America companies faced huge financial lost as the “Stop Snitching or Die” theology spilled into boardrooms and accounting departments. The corporate world was not as brazen as the urban world killing anyone that help out law enforcement, but the results of company leaders keeping quiet about misconduct slowly murdered the American economic system. While corporate leaders played their hand at boardroom gangbanging by lying, stealing, and falsifying financial documents, the world would see snitching taken to a new level (Masten, 2009). The job of combing through those illegal financial documents would go to an elite set of men and women, called forensic accountant. Forensic accountants help America recover huge amounts of financial dollars by bring corporate leaders to justice who made illegal business decisions (Davis, Farrell, & Ogilby, 2009). Attributes of the Elite Forensic accounting/accountant (FA) involves...
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...Starting up business Abstract. The project proposal of the socio-economic research is devoted to studying of the modern ways of setting up business and to revealing of the barriers related to it in particular. The problem of the research is based on the pros and cons of owning your own business. The research is focused on the theoretical researches of Russian and European entrepreneurs and operates with such categories as classification, risks estimating and difficulties. The goal of the project is going to be achieved via development of qualitative exploration and constructive methods of approach. Background of the study. Nowadays, to many entrepreneurs, the idea of setting up and running their own business is appealing. However starting up a business on your own must be one of life’s steepest learning curves – and certainly one of the most challenging. Moreover numerous blank spots in this field are to be found within the frame of the analysis of this problem. Once you get started with your own business, you quickly begin to realize that there are also many problems involved in setting up and running a business. It should be admitted that the start-up process will not only test your knowledge of your industry or key skill areas, but it will also teach you about yourself. Additionally, another social problem can stand a barrier for entrepreneurs. Mostly, society doesn’t trust entrepreneurs entirely. People still have negative stereotypes about business due to the...
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...Introduction Forensic accounting is often involved with accounting, analyzing financial evidence, auditing, and investigating legal and financial proceedings. This paper will examine the most important five skills that a forensic accountant needs to possess and evaluate the need for each skill, describe the role of a forensic accountant within a courtroom, analyze the legal responsibility of a forensic accountant has while providing service to a business, and research two cases where forensic accountants have provided vital evidence in a case. Caleb Newquist touches on the subject of new forensic accountants, “Prospective forensic accountants can count on making many enemies in the course of their work and must be unhinged by the retaliation that normally follows uncovering fraud and other misconduct” (p.1). Their job description comprises of a wide range of duties in which each case they work require different skills and different ideas to become successful. Question 1: Determine the most important five skills that a forensic accountant needs to possess and evaluate the need for each skill The most important five skills that a forensic accountant needs to possess are analytical, creativity, organization or detailed oriented, persistence, and investigative skills. According to Luanne Kelchner editor for eHow, “Forensic accountants must have an analytical personality to perform well in the job. According to the American Institute of CPAs, a group of lawyers, CPAs and...
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...Management School of Business, Campus 02 Bangladesh University of Business & Technology (BUBT) (Developed for facilitating the students of BUBT only and, thus, General Circulation to anywhere else is strictly prohibited) After completing this week’s lectures, you are expected to # Define Research # Describe the Objectives of Research # Elucidate the basic Classification of Research # Elaborate Research Process Briefly # Critically discuss the Principle of Scientific Research WHAT IS RESEARCH? Research is simply the process of finding solutions to a problem after a thorough study and analysis of the situational factors. But business research is systematic and organized effort to investigate a specific problem encountered in the work setting, which needs a solution. Thus it comprises a series of steps designed and executed, with the goal of finding answers to the issues that are of concern to the manager in the work environment. Hence, Business Research can be defined as a organized, systematic, data-based critical, objective, scientific inquiry or investigation into a specific problem, undertaken with the purpose of finding answers or solutions to it. TYPE OF BUSINESS RESEARCH On the basis of the two different purposes of research, it can be categorized in to: # Applied Research: A kind of research work that has been undertaken to solve a current problem faced by the manager in the work setting which generally demands...
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...Effective Communication Effective Communication in Criminal Justice Settings Communication is defined as the imparting or interchange of thoughts, opinions, or information by speech, writing, or signs. In other terms, communication is the process of sharing information or conveying a message from one individual or party to another through the use of many different mediums. One of the primary reasons for success in business and social settings is competent information sharing and because of this, significant strides have been made to advance technological resources to assist contemporary needs of communication. The importance of communication, in every field of life cannot be neglected making these advances that much more important. Effective communication plays a major role in criminal justice settings as well. Without understanding communication methods, individuals could not properly communicate. Police officers are a great example of this. For police officers, oftentimes, the stakes are much greater since his or her actions are more severely scrutinized while conducting their daily investigations, validating his or her position in court, and also before the press. Expressing good verbal skills and non-verbal gestures or postures helps the officer perform their job at a higher level. Effective communications play a large role not only at the business, social, political, and economic levels but it is also a significant advantage to use efficient and sophisticated communication...
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...locations of historic importance. People like mayors, members of the zoning boards, and governors were all bribed into these plans of international expansion. In the Wal-Mart de Mexico case, CEO Lee Scott is faced with the three options of how to handle the bribery of building of record locations throughout Mexico. He needs to decide whether he should ignore the problem, “quietly neutralize the problem”, or make the results of the investigation public. The following is a list of the stakeholders involved in this case (in no apparent order): The communities of the places the new facilities were built – These people lost business of their Mom and Pop stores making many people suffer and lose jobs. While being bribed to give up locations and being manipulated into potential poverty. The customers of Wal-Mart in Mexico - The consumers who are treated as though they are being thought of, by lower prices, and marketing schemes that seem more appealing towards them, all the while being teased. Wal-Mart as a company – Not only has the company lost much business because of this brutal wrongdoing, but reputation, which in a company is most cherished. Wal-Mart will never be looked at in the same eyes as before. Competitors – Other companies such as Target and maybe even Kmart have benefited from the bribery committed by a company who, many may say is there largest competitors. Conferring to all of the ethical theories, Wal-Mart was wrong to decide to issue these bribes....
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...1 Running Head: FORENSIC ACCOUNTING IN PRACTICE Forensic Accounting in Practice Marc Fantone Strayer University Dr. Etta Steed November 17, 2013 Accounting, historically, has been a profession of number tracking, ledger updating and balance sheet reviewing; however, more recently, the need for a skeptical view of accounting business records has developed. In recent years, scandals such as Enron and Bernie Madoff have called for immediate action and needs of forensic accountants with a change in oversight to investigation. According to Zare, “Forensic accounting is unique in that it combines accounting with investigation. These bloodhounds as opposed to the watchdogs that are auditors attempt to sniff out fraudulent transactions from the financial records of banks and companies.” (Zare, 2013) By definition, forensic can be defined as “relating to, used in, or suitable to a court of law.” (Merriam-Webster, 2013) How can this increased level of accounting review and accuracy develop into a role that supports litigation and laws such as the Sarbanes-Oxley Act? The level of forensic accounting has led to the development and thought processes of what it actually means to be a forensic accountant. Five (5) Skills of a Forensic Accountant In addition to the basic functionality of a standard accountant, there are additional skills that would be needed for forensic accounting. The skills needed for forensic accounting are associated with practices of the occupation...
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...Securities and Exchange Commission. It’s with this agency that over the past decade has become a house hold buzz word, particularly within the circle of business, finance, and investing. The agency itself is by far a young branch of the bureaucratic machine, with roots from that of the Great Depression. As we fast forward in time, the agency has undergone some changes for better or worse. In a positive light, although not the scope of this article, the Sarbanes-Oxley Act of 2002 created new guidelines and authority for the agency to require publicly traded companies to provide full disclosure of its financial documents. It also set a precedent for senior management (i.e. CEO, CFO) to legally commit to the accuracy of their books. This topic of discussion revolves around the most recent accusation of ethics violations. To that affect, a whistle-blower by the name of Darcy Flynn within the SEC has come forth claiming that for the past two decades the practice of shredding vital investigation documents has taken place and needs to be justified. The specific documents in question are known as MUI’s or “Matters Under Inquiry”, which are documents that are created during the initial investigating process, well before deciding if there is enough supporting facts for the case to become or not to become a full-scale official investigation. As one can imagine the importance of these documents should not be overlooked, for they could provide for trends that can be utilized for future and...
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...Assignment #3 Forensic Accounting in Practice Professor Demetrius Carolina, Sr. Bus 508-Contemporary Business February 16, 2013 The purpose of my paper is to explore Forensic Accounting and the many aspects surrounding the field. I will determine the skills necessary to be a forensic accountant and its application to business operations. I will also describe the role the forensic accountant plays in a courtroom environment and the role played by the forensic accountant in the litigation process. I will also provide case examples where forensic accountants are used and have provided vital evidence in the case. Today, forensic accounting is a rapidly growing segment of the accounting practice, and the current demand for forensic accountants far outstrips the current supply. Determine the most important five (5) skills that a forensic accountant needs to possess and evaluate the need for each skill. Be sure to include discussion regarding the relationship between the skill and its application to business operations. Have you ever been cheated, robbed or financially hurt by actions of others? Well, out of those feelings civil lawsuits arise based on the desire to reclaim what one perceives he/she has lost unjustly. Financial loss isn’t always easy to define or measure. So, the important task of investigating and quantifying the financial loss normally requires the expertise of a forensic accountant. A forensic accountant is a professional who uses a unique...
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...Criminal Justice Settings CJA 304 August 5, 2013 Effective Communication in Criminal Justice Settings Communication is defined as the imparting or interchange of thoughts, opinions, or information by speech, writing, or signs. In other words, communication is the process of sharing information or conveying a message from one individual or party to another through the use of many different mediums. One of the primary reasons for success in business and social settings is competent information sharing and because of this, significant strides have been made to advance technological resources to assist contemporary needs of communication. The importance of communication, in every field of life, cannot be neglected, making these advances that much more paramount. Keeping the importance of communication in consideration it can be stated that effective communication plays a major role in criminal justice settings as well since without having a grasp over communication methods, the individual cannot win the favors of the opponent and using a police officer as an example is great evidence in this regard. For a police officer, oftentimes, the stakes are much greater since his or her actions are more severely scrutinized while investigating a case, validating his or her position in court, and also before the press. Having excellent verbal skills as well as non-verbal gestures or postures helps the officer perform their job at a higher level. Not only at the business, social, political...
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...Personal Ethics Development The ethical system and ground rules that I live by are expressed easy. I treat others as I would like to be treated. The concept that was the central foundation of my life was humility, sacrifice, God and family. The beliefs of my church growing up and the ethical standards used as the guidelines for the members were the driving force in what I defined as acceptable behavior. The church was always the central backbone of my family. I was raised by a single mother and she wanted me to have a strong sense of who God was and how he intended me to live my life. This was the underlying base for my development as a child into adulthood. I was exposed to several different religious views and it also allowed me to become open and accepting of others. My ethical system was formed by several components that include my mother, God, the church and a strong support system through friends and family, prayer and education. The character of an individual should be balanced in all aspects of a person’s life. A person’s personal value system will carry over from their personal life into their professional life. This will translate into their ethical business behavior. Observing the ethical statute of “treating others as I would like to be treated” affords for the emotional and physical protection of all in my personal and professional circle. If this thinking is encompassed by everyone in a group, whether in a single office or the entire company it fosters an environment...
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... 1 The Forensic Accountant Career Bus-508 Contemporary Business Professor Chris Lin Sarah Reid August 12, 2012 Forensic Accountant 2 1. Determine the most important five skills that a forensic accountant needs to possess and evaluate the need for each skill. Be sure to include discussion regarding the relationship between the skill and its application to business operations. A document for the Skills needed for Forensic Accounting (2012) suggests that Forensic Accountant needs to possess is computer skills, “since document and financial statements have taken a more electronic format, forensic accountants must demonstrate computer skills in finding the paper trials left behind by corporate criminals. A forensic scientist will use computer software, known in their profession as computer-aided tools and techniques CATT to detect white –collar crimes. Some software includes data extraction, spreadsheet and data mining analysis.” According to forensic Accounting (2012) suggests that Forensic Accountant’s investigative skills involve collecting and analyzing the audited information for possible discrepancies. The investigations delve into both missed by ordinary accounting and auditing methods. A forensic accountant bases his finding on criminology specifically centered...
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...“The Numbers Game” A Speech by SEC Chairman Arthur Levitt Article Review The article, “The Numbers Game” 1 is about the Securities Exchange Commission (SEC) Chairman, Arthur Levitt’s concern over earnings management. Specifically, he expressed during a speech at the NYU Center for Law and Business his distress over an evolving problem with a game played among market participants to manipulate their financial reporting numbers motivated by Wall Street earnings expectations. Chairman Levitt is very passionate and direct in his 1998 speech. It appears that he was invited to honor Bill Allen, the first Director of the NYC Center for Law and Business and he took the opportunity to use this occasion as a platform to voice his concern over the growing problem of market manipulation made by public companies. Mr. Levitt feared that this practice could destroy the quality of earnings and financial reporting. Levitt, the SEC and other aligned corporations were all concerned with the growing practices of financial manipulation fearing that deception appeared to be losing out to integrity. Mark 8:36 says, “What good is it for someone to gain the whole world, yet forfeit their soul?” Corporations who conduct such deceitfulness are winning at the cost of their existence. They are willing to bet their whole life for a few moments of glory on Wall Street. In my opinion, it was very courageous for Mr. Levitt to call out these corporations and put them on notice that their questionable...
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...A Summary of the case “Coping with Financial and ethical Risks at American International Group (AIG)” Background American International Group, Inc. is a company whose operation began back in 1919. It was established back then by Cornelius Vander Starr as an insurance agency in Shanghai, China. AIG left china in 1949 after Starr had established himself as the westerner the sell insurance to the Chinese people. AIG headquarters then shifted from china to New York City, which is still the headquarters up to date. It is from here that AIG began its expansion tapping into other markets such as the Latin America, Asia, Middle East and Europe through use of its subsidiaries. AIG – Causes of its demise The start of problems facing AIG began during the tenure of Greenberg as AIGs' CEO. It was during tenure that the company expanded from its initial line of insurance into other many complex lines of business and insuring risks that only a few other companies would consider handling. This led to the involvement of the company in businesses that it did not fully comprehend. AIG started investing in many different types of securities which included mortgage backed securities and also credit derivatives trading. AIG then went ahead to become a leading player in these markets, insuring other company's debt obligations against losses due to its excellent credit rating at the time. It was AIG's Financial Product Unit (AIGFP) that brought about the fall of the company...
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