Diamond Foods, Inc.: Anatomy and Motivations of Earnings Manipulation Mahendra R. Gujarathi ABSTRACT: Diamond Foods is America’s largest walnut processor specializing in processing, marketing, and distributing nuts and snack products. This real-world case presents financial reporting issues around the commodities cost shifting strategy used by Diamond’s management to falsify earnings. By delaying the recognition of a portion of the cost of walnuts acquired into later accounting periods, Diamond
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in reflection ANNUAL REPORT 2011 contents 4 00 CORPORATE INFORMATION CORPORATE INFORMATION 6 00 NOTICE OF ANNUAL GENERAL MEETING NOTICE OF ANNUAL GENERAL MEETING 8 00 CHAIRMAN’S STATEMENT CHAIRMAN’S STATEMENT 12 00 GROUP CORPORATE STRUCTURE GROUP CORPORATE STRUCTURE 13 00 GROUP FINANCIAL HIGHLIGHTS GROUP FINANCIAL HIGHLIGHTS 14 00 PROFILE OF DIRECTORS PROFILE OF DIRECTORS 18 00 CORPORATE GOVERNANCE STATEMENT CORPORATE GOVERNANCE STATEMENT
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Questions for Midterm Exam 1) A measure of how willing the auditor is to accept that the financial statements may be materially misstated after the audit is completed and an unqualified opinion has been issued is the: A) inherent risk. B) acceptable audit risk. C) statistical risk. D) financial risk. Answer: B 1) بمقياس لمدى رغبة مراجع الحسابات أن تقبل أن البيانات المالية قد يمكنه ماديا بعد اكتمال عملية المراجعة وقد تم إصدار رأي غير متحفظ: A) المخاطر الكامنة. ب) مخاطر المراجعة مقبولة
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Glossary oF Accounting, Finance and Economic Terms Accounting – pages 1‐7 and 8 Finance – page 7 Economics – page 7 ACCOUNTING: http://www.alpineguild.com/glossary_of_important.htm Account ‐‐ a record of financial transactions; usually refers to a specific category or type, such as travel expense account or purchase account. Accountant ‐‐ a person who trained to prepare and maintain financial records. Accounting ‐‐ a system for keeping score in business, using dollars. Accounti
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Auditors' Report 1 Consolidated Statement of Financial Position 2 Consolidated Statement of Activities 3 Consolidated Statement of Functional Expenses 4 Consolidated Statement of Cash Flows 5 Notes to Consolidated Financial Statements 6 - 13 ARMANINO McKENNA LLP Certified Public Accountants & Consultants 12667 Alcosta Blvd., Suite 500 San Ramon, CA 94583-4427 ph: 925.790.2600 fx: 925.790.2601 www.amllp.com INDEPENDENT AUDITORS' REPORT The Board
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Governance Guidelines The Board of Directors has adopted these Guidelines to further its longstanding goal of providing effective governance of the Company's business and affairs for the long-term benefit of the Company's stockholders. These Guidelines are reviewed periodically and revised as appropriate to ensure the effective functioning of the Board of Directors and high quality corporate governance. Board Responsibilities 1. Basic Responsibilities of Board Members. The fundamental responsibility
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Flat Cargo Berhad (FCB), the auditor has found some inconsistencies in the accounts of FCB. Thus, a case study is conducted to bring the hidden mystery to the light as possible. Based on the study, a report was written to summarise the situation. The aspects that were given highlights in the report included the issues contributing to those inconsistencies and the possible reasons that have led to this situation. Based on the identified problematic issues, several possible solutions have been suggested
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for their clients. A business man or a shareholder would like to know their profit or loss annually. It is very important to know a company financial position to plan for their future. For example, accountants will help the company to provide annual report
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external audit role. Work Experience Palma Consulting ------------------------------------------------- Chief Accountant Apr 2014 – present * Responsible for all financial and accounting transactions and Reporting * Responsible for all banks transactions and relations * Responsible for all relations with government agencies (Sales Tax Department, Income Tax Department and Social Security Department) * Producing various management reports for the Consulting
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Donna Battista Accounting 1 (section#3501) Professor Chawareewong August 4, 2014 (1A) Since I consider myself a “Fashionista”, my company of choice is a company named “BeBe”. Bebe Stores, Inc, is a women's retail clothier established in 1976. Manny Mashouf founded the company and as of September 8, 2006, Manny Mashouf, the Chairman of the Board, and Neda Mashouf, Vice Chairman of the Board beneficially owned approximately 73% of the outstanding shares of BeBe’s common stock. The company
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