banking, manufacturing, and government. Fraud can be committed through many media, including mail, wire, phone, and the Internet (computer crime and Internet fraud). * The term “fraud” refers to an intentional act by one or more individuals among management, those charged with governance, employees or third parties, involving the use of deception to obtain an unjust or illegal advantage. Although fraud is a broad legal concept, the auditor is concerned with fraudulent acts that cause a material misstatement
Words: 6695 - Pages: 27
Case Truck (short term lease) 1) Right of use asset 800 Lease obligation 800 Interest expense 40 Lease obligation 760 Cash 800 Retail Outlet 2) Right of use asset 10,000 Lease obligation 10,000 Interest expense 17 Lease obligation 9983 Cash 10000 Under the previous IAS 17 by the (IASB), in operating lease, the lessee does not need to recognize the leased asset in their Balance Sheet. In 2010, August, the IASB issued
Words: 697 - Pages: 3
with current and total liability, as they have reduced its ability to cope with the short and long term solvency, but regardless the company is still in a very strong position. Introduction: TFS Corporation LTD is a Western Australian company listed on the Australian Securities Exchange under the ASX Code: TFC. It owns and manages 9,000 hectares of Indian sandalwood plantations in the tropical north of Australia, and its obligations include Plantation Management, Finance, Agriculture
Words: 1641 - Pages: 7
__________________________ Date: _____________ 1. Which financial statement would best indicate whether the company relies on debt or stockholders' equity to finance its assets? A) Statement of Cash Flows B) Retained Earnings Statement C) Income Statement D) Balance Sheet 2. Stockholders' equity A) is usually equal to cash on hand. B) is equal to liabilities and retained earnings. C) includes retained earning and common stock. D) is shown on the income statement. 3. Which of the following activities involves collecting
Words: 3558 - Pages: 15
companies in Bangladesh. The main data collection from the annual financial reports on Beximco and square pharmaceutical companies in 2007 to 2008.Different financial ratio are evaluated such liquidity ratios, asset management ratios, profitability ratios, market value ratios, debt management ratios and finally measure the best performance between two companies. The mathematical calculation was establish for ratio analysis between two companies from 2007-2008.It is most important factors for performance
Words: 12872 - Pages: 52
Risk management in banking sector Table of content Particulars | Page no. | Executive summary | | Introduction | | Literature review | | Research methodology | | Sampling techniques | | Tools of analysis | | Data analysis & findings | | Conclusions | | Scope for further research | | Reference | | Executive Summary Today, The Indian Economy is in the process of becoming a world class economy. The Indian banking industry is making great advancement in terms
Words: 26880 - Pages: 108
ACCOUNTING REPORT PREPARED BY BENJAMIN ARNOLD STUDENT ID: 1209002 MODULE NAME: INTRODUCTION TO ACCOUNTING MODULE CODE: AC4002 CONTENTS Introduction …………………………………………………………………………………………………………………………..03 The Income Statement of King Charles Fittings ……………………………………………………………………… 03 The Statement of Financial Position of King Charles Fittings …………………………………………………..04 Analysis of financial position ………………………………………………………………………………………05 A short report of accounting …………………………………………………………………………………………………
Words: 2056 - Pages: 9
may be an asset, a liability, an expense account etcetera, or depending on whether the transaction increases the account or decreases it (Lee, 1977). For instance, any transaction noted on the debit side would add to the assets account. Alternatively, a transaction would be entered on the debit side if it lowers the liabilities or the equity. On the other hand, all transactions that lower the assets account would be posted on the credit side. Any transaction that adds to the liabilities or the equity
Words: 1061 - Pages: 5
changes in the regulatoryenvironment in which they operate.’ Analyse and discuss this statement. Commercial banks are the main financial institutions operating in all major international financial systems, accounting for the largest share of the assets of all financial institutions. However, their dominance has a direct correlation with the level of financial system regulation that is evident within a nation-state. For example, prior to the mid-1980s there was a high level of bank regulation in
Words: 481 - Pages: 2
Muntean Mircea Universitatea din Bacau, Facultatea de Stiinte Economice, Bacau, str.Spiru Haret nr.8, E-mail doinap_ro@yahoo.com, Telefon 0740 223535 Abstract: The liquidity characterise the financial situation of the company, its ability to convert assets into cash or to obtain cash to meet short-term obligations. Lack of liquidity may affect seriously the continuity of the company activities. Computation and analysis of the liquidity are made by a system of ratios based on the data within the financial
Words: 3390 - Pages: 14
