| Concept of Ethics & Obligations | George Tenet: Ethical Dilemmas | | Vivian L Burke | | February 5, 2012 In his essay Public Administration and Ethics: A Prologue to a Preface, Dwight Waldo identifies and differentiates between private and public morality and notes that the two can often be at odds with each other. In Waldo’s opinion, the fundamental premise of public morality is that the actions and behavior of those in office or tasked with the representation of the public
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Individual Summary Project Managerial Finance and Accounting 12/04/2014 Summarize situation at Merced Home Products: Stacy Cummins, a newly hired controller, was concerned about some information she has come across at the Home Security Division of Merced Home Products, Inc. She has found that the past several years of quarterly income statements were adjusted to make each successive quarter increase its profits, resulting in total annual profit which exceeded targeted profit for the year
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Executive Summury Harmonization of the rules relating to company law and corporate governance, as well as to accounting and auditing, is essential for creating a Single Market for Financial Services and products. In the fields of company law and corporate governance, objectives include: providing equivalent protection for shareholders and other parties concerned with companies; ensuring freedom of establishment for companies throughout the EU; fostering efficiency and competitiveness of business;
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Assignment 1: Employment-At-Will Doctrine Employment-at-will is the current employment practice performed in the United States. Employment-at-will states that an employer can terminate an employee for any reason; good, bad or indifferent. It also allows the employee to leave the employment of the company at any time and for any reason. Over the years following the adoption of the employment-at-will doctrine, there have been some exceptions applied that employers must follow when it comes to terminating
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itself and abandons its obligations to shareholders, employees, creditors, government, and the general public. The Agency Problem Economists call this failure of duty the problem of "agency." Top management is supposed to be the fiduciary (faithful agent) of the shareholders that own the enterprise. But a corrupt agent neglects fiduciary duty to the principal in favor of his/her own selfish interest. Lawyers refer to this same problem as a failure to perform “fiduciary duty” and a "conflict of
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Enron Corporation and Arthur Anderson. This assignment is to identify the background of Enron and Arthur Anderson and Enron fail. Other than that, identify the business risks that faced by Enron. Moreover, determine the responsibilities of board of directors and steps to improve corporate governance. Besides that, differentiated between rules-based accounting and principle-based accounting and the uses. In addition, there are discussion about auditor should allowed to provide non-audit services. There
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VOUCHING A voucher is documentary evidence in support of a transaction in the books of account. Vouching is a technical term which refers to the inspection by the auditor of documentary evidence supporting and substantiating a transaction. It means to substantiate an entry in the books of account not only with any documentary evidence such as agreements, receipts, counter foils of a receipt book, or pay-in-book, contracts, but also to see that the transaction has been properly authorized, recorded
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10.Authority, Delegation and Decentralisation AUTHORITY Meaning : Authority is the right or power assigned to an executive or a manager in order to achieve certain organizational objectives. A manager will not be able to function efficiently without proper authority. Authority is the genesis of organizational framework. Without authority, a manager ceases to be a manager, because he cannot get his policies carried out through others. Authority is one of the founding stones of formal and informal
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This is Grameenphone November 11, 1996 Awarded operating license in Bangladesh by the Ministry of Posts and Telecommunications. March 26, 1997 Launched its service on the Independence Day of Bangladesh. November 11, 2009 Successfully listed on the Stock Exchanges in Bangladesh. After fifteen years of operation More than 35 million subscribers and around 87 thousand Shareholders as of December 2011 are now empowered under a single network and touched by the magic of closeness
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big businesses have started out as sole proprietorships (Jordan, 2008). Liability: The owner of a single proprietorship is not protected by limited liability, so he is not insulated from his business debts and obligations. He is personally liable to pay for the debts and obligations the business may incur. The capital of the business entity includes the cash and credit of the owner.
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