Issue: 1a) Are the disclosures in the Swiss annual report really unnecessary? 1b) what social, economic, and institutional factors in Switzerland Might be causing the inclusion of these disclosures? 1c) Describe on of the differences in financial reporting between a Swiss company and the reporting in another country? Facts: Rob Carpenter senior manager at a prestigious accounting firm, recently transferred to the international division of acquisition and mergers. Mr. Carpenter was recently
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market participants as it covers processes from verification, the determination of information for the publication and communication. Quantitative and qualitative corporate information is then disseminated through various periodic reports such as the annual and quarterly reports, other disclosures and through various media or other stakeholder engagement sessions. In this context, the quality of disclosures can be assessed in terms of how useful the information provided is in assisting investors and other
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this annual report on Form 10-K of "Prestige Investments"; 2. Based on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this annual report; 3. Based on my knowledge, the financial statements, and other financial information included in this annual report, fairly
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* Describe procedures your organization has in place to ensure ethical behavior * * “We have always believed the way to build a great, enduring company is to strike a balance between profitability and a social conscience”. The Business Ethics and Compliance program for Starbucks was also created to ensure the traditions and character that Howard Schultz had envisioned for this company. This program provides resources to help partners make ethical decisions at the workplace (Starbucks
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faces, 22 relates to patent infringements. One litigation involves a subsidiary of Amazon. The claim by litigants is that the subsidiary failed to disclose that the underwriters allegedly solicited and received excessive commission from investors. The report identifies two lawsuits of failure to remit sales and use taxes, and one international lawsuit pertaining to failing to pay tariffs on digital media. The final lawsuits
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additional capital in the long run. Overall sales have also been impacted in a positive way by the implementation of the new initiatives. In Wal-Mart’s 2009 annual reports, their net sales increase nearly 9% from the previous year and also added nearly $30 billion to their annual sales (Wal-Mart, 2009). Based on Wal-Marts most recent annual report, Wal-Mart saw an increase of nearly 3.4% to $419 billion, operating income by 64% to more than $25 billion, and closed out the year with almost $11 billion
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Groupon and Indiana Telephone Company (ITC) annual reports are: • The annual report cover letters are different. Groupon Inc.’s cover letter is more detailed and provides more information about the company. • ITC’s annual report does not have a table of contents. • The amount of information in the annual reports differ substantially. ITC’s annual report consists of 22 pages while Groupon’s annual report contains 118 pages. • The ITC’s annual report begins with information listing their board
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creditors, and others who are outside the organization.[1] The mentioned financial information are usually prepared in the form of financial statements or reports that shows the company’s past financial activities, performance and changes in its financial position that is useful in making economic decisions. More importantly, these reports will be used by users for different purposes; citing a few: (i) owners and managers require financial statements to make important business decisions that would
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Reporting practices and ethics Rachel Salermo HCS/405 September 3, 2012 Michael Shin Reporting practices and ethics Financial reporting practices are necessary in any successful business. They are used to keep track of a business finances, and to make sure the business is following legal and ethical standards. There are four elements to financial management; they are planning, controlling, organizing/directing, and decision making. Each of these plays a vital role in correctly reporting finances
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imperfections of the company’s financial statements because they must sign annual reports that their company submits to the Security Exchange Commission. This ensures that the financial data is accurate. It made management responsible for financial statements. Inaccurate financial statements can lead to stiff penalties levied on management and others. Section 404 of the SOX act outlines management responsibilities on the annual report. Suggest an alternative to regulation for providing accurate financial
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