accounting may not sound as glamorous as its other investigative counterparts, the field has received more attention in recent years. This is due in part to the high-profile, financial white-collar crimes involving large corporations, such as the Enron and Adelphia Communications scandals of 2001 and
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Assignment 3 Amazon.com in the year 2000 Syed T.A Zaidi 100285122 BUSI 3150 Financial Statement Analysis Prof. Jane Bowen March 14th, 2011 Long Term Viability of Amazon Amazon had a significant vision in terms of its long-term viability. This vision consisted of many strategies that allowed them to operate efficiently and effectively. Amazon primarily raised profits by the means of developing strong brand equity on a global scale, developing direct relationship with wholesalers allowing them
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that this paper will answer is whether or not their disclosure was justified. Conducting Financial Reporting Research: Related Party Matters Through the years 1980 and 2000 their was a plethora of embezzlement going on within huge companies, Enron being the big one. With all these white collar crimes going on, it is hard to keep track of them. There was one scam that doesn’t get the acknowledgment it deserves. Adelphia Corporation and the Rigas family started out as a small communications
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Course Project General Electric (GE) Table of Contents Phase 1 Initial Survey and Engagement Development Pages 1-4 Phase 2 Planning Phase Pages 4-8 Phase 3 Work Program Phase Pages 8-12 Phase 4 Field Work Phase Pages 12-19 Phase 5 Findings and Recommendations Pages 19-20 General Electric (GE) seems to be a very high profited company which seems to be growing in profitability based on the way they do business and how they train their employees to be the best at
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corporate and accounting scandals were that of Enron, Adelphia, Tyco International, World Com, and Peregrine Systems, among others (Levine, 2013). The objective of this paper is to focus on and analyze one of such scandals. In this paper, the Lehman Brothers’ issue with the SEC regarding their malicious use of the Repo 105 maneuver will be studied, focusing on the audit report that the external CPA firm issued, speculations on the company’s statements, analysis of the management and auditor’s responsibility
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1) Throughout this class we have discussed the conduct of the major players at financial institutions and their role in leading their companies to the brink of failure, and in some cases have been successful (Bear Stearns, Lehman & AIG). With that as a starting point how important is character and ethics? What role(s) do you think boards of directors should play and did they exercise their fiduciary responsibilities to the shareholders and employees? Money is an important character in various
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control of management, or more generally, for the firm to achieve the appropriate alignment of interests between managers and owners. After all, it is shareholders who were the ones most hurt by the scandals at Enron, Tyco, Worldcom, Parmalat, Hollinger, and elsewhere. For every employee at Enron who lost a job, shareholders lost at least US$4 million.2 Furthermore, employees escaped with their human capital largely intact. Creditors and suppliers continue to pick over the bones of the corporation (which
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They do not seek to expound on the voluminous literature available discussing why and how these corporate scandals happened. They seek to provide answers to how effective CEOs build an ethical culture within an organization by providing actual cases of ethical companies that had passed the test of time. This book review is divided into two parts. First is a summary of the critical concepts and assumptions of the book. The second part is a critical reflection piece that juxtaposes the book’s
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a reader with little financial background to easily understand the material. In the recent past, off balance sheet arrangements have received a great deal of attention due to the well know fraud committed by the company Enron. This paper is not aimed at dissecting the Enron case and will be mentioned infrequently as possible. What is important is to understand the purpose of variable interest entities are, why the arrangements are important, and how they are presented on the financial statements
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one’s work-related activity; (2) avoid action that may result in civil law suits against the company; (3) avoid actions that are bad for the company image (Erwin 2011). . Ethical issues in business will occur but can be solved and avoided in many cases that can help a company continue to be successful. Using an ethical decision making process will guide companies and its employees in the right direction to success and respect within the communities they serve. Most people involved in business whether
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