module also discusses ethical problems related to tax planning and gives a few practical tips on writing a tax opinion. At the end of this module, you should be able to evaluate the tax implications of proposed and completed transactions and design and advise on tax planning when shareholder benefits, loans, and deemed dividends are involved. You should also be able to prepare a specific purpose report using clear, communicative, and professional language, and apply a high level of professional judgment
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accounting - mark to market3, whereby any potential of future earnings could be reported as revenues today which enabled Enron to report future potential revenues without actually realising them. I feel it’s alright for the management and Board to advise shareholders regarding their business plans and business potential but it should not cross the line where they start recording value generated through a defunct plant and artificially inflate stock prices. Another unethical practice of Andrew Fastow
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Case 3.2 Hanover-Bates Chemical Corporation Hanover-Bates Chemical Corporation produces chemicals for the chemical plating industry. It has plants in Los Angeles, Houston, Chicago, and Newark. The production process involves taking chemicals purchased from other suppliers and mixing them into user-based formulas. The Hanover-Bates has a strong balance sheet and trades on the over-the-counter market. There are seven sales districts within the organization with a total of forty sales representatives
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Optional Question 1: Scenario (Facts of the case) You are employed as a legal executive in a firm of solicitors. A client (Mr Ben) has come and seeking advice on several claims and legal issues, which have recently arisen. You are required to write a legal report for the following claims: Alan is a qualified accountant and his father Ben, who owns a small business, a bookshop which specialises in acquiring and selling rare books. He recently saw an advertisement in a specialist book
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Alex Pond Phil 4010 Dec. 2, 2014 On the Shallowness of the No Regret Condition I would disbelieve the person who claimed to have never experienced regret. There are so many triggers for this emotion that to have completely avoided it, one may question the authenticity of the social existence of the agent that has managed this avoidance. Bratman initially proposes the no regret condition in an attempt to explain how rational agents may stick to prior plans in the face of a temporary preference
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LEGAL ANALYSIS Negligence The plaintiff, McDuff, is suing Jetson for liability in a negligence case. In order to prevail in a claim for negligence, the plaintiff must establish six points, referred to the law as a prima facie case. They are the following: 1. Conduct; 2. duty; 3. breach of duty; 4. actual cause; 5. proximate cause; and 6. damages Conduct and Duty In order to establish duty, there are three factors in determining whether to impose a duty at common law
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IMPACT OF RELEVANT/APPROPRIATE STATUTES ON THE RELATIONSHIP BETWEEN SUPPLIER, SELLER AND BUYER CASE STUDY City Mall Plc is a large entertainment and shopping complex. The company has recently encountered problems in their stores. You as their legal advisor, have been consulted on a range of issues. Draft a report to the board of directors explaining the law in each of the following situations and advise accordingly. Your Report should make reference to legal authority. -------------------------
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What’s Wevenue? Case Study Coopers & Lybrand was auditing Cal Micro at the time the latter company wrote off half of its accounts receivable. The move sparked an internal investigation and the Securities and Exchange Commission (SEC) sought to bar the two auditors working with Cal Micro from signing off on public company audits. On one hand, the SEC pointed to several weaknesses in the auditors’ performance of their jobs, while on the other the auditors claimed ignorance and even alleged a willful
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1. Who controls (captures) the value from IMG’s relationships with its talent? Is it the agents? IMG? Someone else? Explain your answer. The relationship between talent and IMG brings value to its clients, whether corporate clients or individuals, and to IMG as a whole. On the other hand, while IMG does employ roughly 3,000 people, it seems as though these agents capture relatively little value, given that the company has had trouble retaining employees. IMG has been successful in creating mutually
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Critique of Westerhoff’s Spiritual Life: The Foundation for Preaching and Teaching[1] The Preface to Westerhoff’s book presents the problem which he seeks to address in the six chapters that follow. “Burn-out”, “drain-out” and “rust-out” are all terms used to describe a condition among preachers and teachers whereby they come to realize that their faithfulness to their vocation has become flawed and empty. The reader is informed that it is a spiritual disease that needs spiritual healing so
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