...“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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...It’s a Numbers game. It’s a Numbers Game How it feels to work with a company’s money? Not all Accountants do the same thing even if they have the Degree. Not many people chose to become accountants because of the tedious paperwork or the math that is involved. This field grows as the money people make or lose grows. As an accountant, people look at others money. Money is what helps people survive and flourish. Business all over the world need accountants to prepare finance documents. Even if one becomes an accountant there are still many fields on could go into. As account you are not stuck with helping people with their taxes. There are some pros and cons in becoming an accountant. If one choses to become an accountant one could make good money. As you graduate college you will have to choose some type of path. Like I said there are many jobs one could do once you get that pesky degree in accounting. As Hallinston (2013) states in his article one could become a CPA. A CPA is a Certified Public Accountant and they do the broadest of jobs. Some things of those include bookkeeping, managing your client’s finances, preparing taxes and auditing financial statements. With that your clients could be individuals, companies, corporations, governments and non-profit organizations. (Hallinston 2013). Another job you could chose is Management accountant. Now with this you would be recording and analyzing the financial information of a company (Hallinston 2013). As this type of accountant...
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...William Brummell Case 3 Playing The Numbers Game!! Question #2 Jay is right, they should include a common size statement (vertical analysis) in the report. This analysis will allow Jay and Jack to compare common size income statement analysis is stating every line item on the income statement as a percentage of sales and the balance sheet in comparing everything to total assets. Since there is more than one year of financial data, you can compare income statements to see your financial progress. This type of analysis will let you see how the revenues and the spending on different types of expenses change from one year to the next. In addition it will allow you to compare two different companies of different sizes. It also allows you to benchmark the company with it rivals. This helps create forecast as to where the company will be in the next coming years. Income Statement Plastichem Inc. Every year sales has increased 2001 to 2002 sales increased by 123.1 million dollars 2002 to 2003 sales increased by 41.6 million dollars 2003 to 2004 sales increased by a staggering 3.7 million dollars which shows that sales started to become slow and stagnate Cost of Sales 2001 to 2002 COS decreased by 1.65% 2002 to 2003 COS decreased by less than 1 percent (.64%) 2003 to 2004 COS increased by 11.88% from this data we see that the COS has decreased as a result of sales declining in the last few years. Gross Operating Profits 2001 to 2002 GOP increased by 1.65% 2002 to 2003 GOP increased...
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...FINANCIAL NUMBER GAME The game has many different names and takes on many different forms Classification of creative accounting practice Reward of the game Label for the financial number game Creative accounting practices Any and all steps to play the financial numbers game, including the aggressive choice and application of accounting principles, fraudulent financial reporting, and any steps taken toward earnings management or income smoothing. Income smoothing A form of earning management designed to remove peaks and valleys from a normal earning series, including steps to reduce and store profits during good years for use during slower years. Aggressive accounting A forceful and intentional choice and application of accounting principles done in an effort to achieve desired result, typically higher current earning whether the practices followed are in accordance with GAAP or not. Earning management The active manipulation of earnings toward a predetermined target, which may be set by management, a forecast made by analysts or n amount that is consistent with a smoother more sustainable earnings stream. Fraudulent financial reporting Intentional misstatements or omissions of amounts or disclosures in financial statements, done to deceive financial statement users, that are determined to be fraudulent by an administrative, civil or criminal proceeding. Depend on the scope of the tactics employed Label for the financial game Rewards of...
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...DuPont Analysis: Playing The Numbers GamE The summary of this case is that a newly joined CFO of a company, Plastichem Inc., was able to turn the company’s unfortunate situation around when he first arrived. Yet, five years later, Plastichem has gone through some difficult times including their stock price/ratings severely dropping with no understanding as to why. The case ends with the CFO attempting to figure out what went wrong with the numbers he was given. To determine the liquidity, we used the quick ratio, current ratio, and interest coverage ratio. From these equations, the higher the ratios meant the better of the company’s financial condition, or more liquidity. The acceptable ratios vary from different industries. In general, company’s quick ratio should be 1 or higher, and its current ratio should be above 1.5 to be considered liquid. In the comparison between two companies’ ratios, DCM Molding has shown a better financial condition on average in the past four years, and Plastichem has barely met the acceptable average or is below the average in the past four years. Quick Ratio = (Cash and marketable securities + A/R + Other Current Asset)/ Current Liabilities | Year | | 2004 | 2003 | 2002 | 2001 | Plastichem | 0.86 | 1.141 | 1.039 | 0.826 | DCM Molding | 0.99 | 0.93 | 1.114 | 1.568 | | Year | | 2004 | 2003 | 2002 | 2001 | Plastichem | 1.301 | 1.523 | 1.462 | 1.309 | DCM Molding | 1.632 | 1.518 | 1.826 | 2.095 | | Year | ...
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...Raven, a young girl, is walking home with her mother’s lottery ticket in her back pocket. While walking home she runs into one of her ex best friends that grabs the lottery ticket out of her back pocket. Her ex best friend, London, then switches her lottery ticket with a different one. Raven starts to rush home before the streetlights come on. She doesn’t want her mother to miss the numbers. Just barely making it be for the lights come on Yolanda, her mother, starts to scream outside the apartment window. “ Hurry up Raven they about to show the numbers” Yolanda says. Raven starts to run up the stairs as fast as she can. Busting threw the door running towards the TV her mothers screams the numbers. Looking at the ticket Raven’s mouth drops. So far all of the numbers are correct and they both wait for the last set of numbers. Not thinking they will win the announcer says the winning number for the mega millions. “3-8-1” the announcer says. Raven looked at the numbers shown on the TV and then looked at the ticket and says nothing. Yolanda automatically thought that they lost and just turned the TV off. Yolanda walks off in shame and then, Raven runs up to her mother screaming that they won. Her mother thought she was crazy so she turned the television back on and looked at the ticket. They jumped up and down in joy. Yolanda calls her job to let them know that she quits and told them never to call her again. Raven is so excited that she calls her new boyfriend Monte to tell...
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...That brings me to my second wish. I would wish that I could stop world hunger. As I say that, the genie looks straight at me and says that she is going to grant both of my wishes. As she says that I’m wondering in my mind why this genie chose me. Why is she giving me the two wishes? I’m not sure if I’ve done anything good in my life so if she actually does grant my wishes then I would become a better person. The genie starts to close her eyes and lifting her arms up in the air. I feel as if the world stopped moving. Then all of a sudden the room is shaking and then the genie was gone. I look on the table and I see a lottery ticket laying there. Is this my chance I’m wondering. I turn on the news just as they are saying the winning ticket numbers. I won! I couldn’t believe that the genie actually made this happen. When I get the money I try to do as much as I can to help the starving kids. I actually feel better when I know...
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...Adapted Lesson Rose Davis SPE 514 SEQUITA LIPSCOMB Introduction I was able to observe in Ms. Brianna Roos, Special Education resource classroom the week of April 1st – April 5th, 2013 at Hamilton Creek Elementary School. On April 5th, I was able to teach my adapted Mathematics lesson to a small group of 3rd graders in the 90-minute math block. The small group contained six Specific Learning Disability students. The opportunity to perform and teach this lesson proved to be challenging, but at the same time very rewarding. Specific Learning Disabilities “Specific Learning Disability means a disorder in one or more of the basic psychological processes involved in understanding or in using language, spoken or written, that may manifest itself in an imperfect ability to listen, think, speak, read, write, spell, or to do mathematical calculations, including conditions such as perceptual disabilities, brain injury, minimal brain dysfunction, dyslexia, and developmental aphasia. This does not include the learning problems that are primarily associated with visual, hearing or motor disabilities, cognitive impairment, emotional disturbance, or that of environmental, cultural, or economic disadvantages” (SLD, n.d.). Teachers and parents may look for the following patterns in students of specific learning disabilities: •Short attention span, unable to concentrate on a task...
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...Logic and Application Card Game MAT/104 Algebra with Applications Marisol Rivera Professor Russell Sundberg October, 15,2013 Logic and Application Card Game Name of the game Guess your 3. Guess your 3 is America new popular family game. Takes 36 Cards have number between 1 and 9 ... Add 2 to 10 player ages 7 to adults... plus extremely easy rules for teams or individuals ... And what do you have?... An hour or an entire evening entertainment using Logic and application. Content 36 cards with number between 1 and 9 12 Question card 10 head ring to hold cards. Objective Be the first player to Guess what your 3 card are. First person to do this correctly wins. Setup 1. Each player draws (3) cards (Without Looking). Each player will have numbers between 1 and 9. 2. The player then place their card on the head ring, so that everyone but the player can see the cards. 3. Place the deck of question in the center. Players will answer question based on the card that He or She selects.(Note: Not the player 's card , which the player cannot see) Example Tim draws a questions card, "How many 7's do you see?" he answered ,"one" because he cannot see the 7 on his heads he could only see the 7 on another player. Now that we know the games content, objective and how to setup , Let's play. In this round there will be 4 players, Andy, Belle, Carols, and Marisol. Following the direction all 4 players draw 3 cards without looking, every player knows that each card selected...
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...Aptitude test 2. Technical Round 3. Managerial Round 4. HR Round. 1. For the king's revelry 30 barrels of beer have b een ordered . howerver, it was found that one of them is poisoned. The poison takes effect even if consumed in the tiniest amount after 14 hours. Yhou need to find within 24 hours the poisoned barrel and have at your disposal some beer guzzling mice. The smallest number of mice required to find the poisoned barrel is 1) 2 2) 1 3) 4 4) 3 hint: 2^n> no of barrels ans:4 2. Given a collection of points P in the plane a 1-set is a point in P that can be separated from the rest by a line; i.e the pint lies on one side of the line while the others lie on the other side. The number of 1-sets of P is denoted by n1(P) . The maximum value of n1(P) over all configurations P of 15 points in the plane is 1) 5 2) 10 3) 15 4) 9 Ans: 15(Same as given number of points) 3. The pacelength P is the distance between the rear of two consecutive footprints for men the formula n/P=190 gives an approximate relationship between n and P where n= number os steps per minute and P= CX in meters. Bernard knows his Pace Length is 104cm the formula applies to Bernards walking. Calculate Bernards walking speed in kmph. 4. A hare and a tortoise have a race along a circle of 100 yards diameter. The tortoise goes in one direction and the hare I the other. The hare starts after the tortoise had coveredc 1/7 of its distance and that tooo ...
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...The activity was called Touching Numbers. In this activity I filled zip-lock bags with paint and sealed it up. I pulled out the zip-lock bags of paint for the child and he was immediately excited. The child was inquisitive, and really wanted to know what we would be doing with them. I told him we were going to be writing numbers in the paint. I showed him how to write by using a finger to write in the paint. I showed him if he ran his hand over the paint (in plastic bag) it erased the number and he could write a new one. He quickly did all of the numbers with no problem. I then decided to take away the paper showing him how the numbers looked. I told him he would need to write 1-30 on his own. When he got to the number 7 he wrote it backwards. I stopped him and asked if he could show me the 7 again. He wrote the number again and it was still backwards. I told him that he was writing it backwards and showed him how to write it properly. He then wrote it correctly. I had him erase it and write it 3 more times to help practice. I then had him continue writing the rest of the numbers. The child struggles with 23 as well he was writing his three backwards. I used the same strategy I had just used for number 7. After he finished writing the rest of the numbers I had him practice a few of the numbers he was struggling with (3, 7, 23, and 27). I had him write these numbers...
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...your assessment of the student’s learning progress. Yes, my students learned what was intended, however, only 70% of my students accurately completed the lesson assessment individual sheet. The students who did not accurately completed the sheet appears to have misapplied the rounding rules for rounding numbers left to right. In addition, one student in particular rounds the number to the nearest tens instead of the tenth place. The teacher will meet these students in a one and one Math conference and reteach place value using games and other hands-on activities. 2. What do student work samples from this lesson, reveal about...
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...Teaching Place Value Effectively Considering place value underpins all operations with number it is not difficult to understand the critical nature of children developing a robust understanding of this concept. As with all learning, place value is best understood and internalised by children when it is presented in real world contexts using materials, games and activities that build on and extend prior knowledge. A constructivist approach to learning that allows children an active role in developing knowledge is considered valuable as children build their own view of mathematics (Booker et al., 2014). Construction of a solid understanding of number and place value develops sequentially over many years through distinct stages: one digit numbers...
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...assists. Sort the data in descending order by points. Query 3: Who are the top team players in the Metro division? To answer that question, list all players in the Metro Division who have 7 or more assists. Display the player’s name, the player’s team id, the team name, assists, goals and points. Order the data in descending sequence by assists and then by team name. Query 4: What is the total weekly payroll of the NHL and what is the estimated total payroll of the season (assuming an 80 game season)? Use the PayPerGame field from the player table. Display totals as currency. Notice currency format Query 5: What is the total weekly payroll of Chicago, Dallas, Detroit and Columbus? Display the team name, team id, and total weekly payroll and the estimated total payroll of the season (assuming an 80 game season). Order the results by team name. Hint: Use the IN operator to select the teams. Display totals as currency. Notice currency format Query 6: Display the number (count) of players by division and position. Only display those rows with a count of players > 50. Query 7: Display all teams with a team Shot percentage > 10%. Even though each player has a stat for their shotPct (#goals / #shots), it is, mathematically, not appropriate to average an average. To calculate the team’s shot percentage, your query should sum the goals column and shots column by team – and calculate the shot percentage from those summed values. Display only those teams with a...
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...The Importance of Number Sense in the Elementary Classroom Robyn Thomas EDU Instructor: Dr. Silvernail November 2, 2011 Abstract In today’s elementary classrooms, students are expected to think and speak on high levels of intelligence. Teachers are encouraged to set high expectations, to question and probe and to ask students to explain what they are thinking. This paper will focus on the importance of understanding numbers or possessing number sense at the elementary level. The idea that students should already have some number sense is controversial. Struggling students in today’s classroom in the area of math seem to lack a major concept, which is a basic math skill or understanding numbers. What is number sense? Number sense refers to a person's general understanding of number and operations along with the ability to use this understanding in flexible ways to make mathematical judgments and to develop useful strategies for solving complex problems. Number sense develops gradually, and varies as a result of exploring numbers, visualizing them in a variety of contexts, and relating them in ways that are not limited by traditional algorithms. Most children acquire this conceptual structure informally through interactions with parents and siblings before they enter kindergarten (Marshall 2010) . Other children who have not acquired it require formal instruction to do so. For example, one child may enter school knowing that...
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