attention of investors, creditors, and banks to continue to be profitable. The information that these entities receive is product of the generally accepted accounting principles (GAAP) that are practiced by companies to create and release their annual finances. The financial statements allow the outside entities to judge the economic health of the company and from this decide if investments and larger lines of credit are wise. In the United States the Security and Exchange Commission enforce the GAAP although
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1. Who is the author of this paper and what is his position (give description of responsibilities) with the PCAOB at the time of this article? The author of the article titled, “The PCAOB and the Social Responsibility of the Independent Auditor” is Douglas R. Carmichael. At the time of this article Douglas Carmichael was the Chief Auditor of the Public Company Accounting Oversight Board. His responsibility as Chief Auditor was to advise the Board and the head of the PCAOB’s professional standard-setting
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profits were largely inflated, which is misleading to investors. Enron used off-balance sheet financing and recognised many long-term contractsto make the business look financially healthier. Andersens had a more astounding way of increasing Enron’s finances. They helped create “bogus” companies and made them loan money to Enron. These loans were treated as income from partnerships and not as liabilities.
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Business is the main component of our economy. Business is in every corner of every type of market. Most everything you can possibility think of that relates to the economy is business. Health care, retail services, restaurants, farming, super markets all involves business. For example, there are different types of farming that takes place. One farmer may have a chicken farm and another has a farm with cows. The two farmers may make a trade for eggs and the other for milk. This would be a
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Analysis Diamond Chemicals Introduction This project belongs in the engineering-efficiency category; therefore, it has to fit at least 3 of 4 performance hurdles, which are 1. Impact on EPS; 2.Payback; 3.Discounted cash flow and 4. Internal rate of return. In this article, some of those involved explained and described their opinions; however, professional knowledge may have been lacking. Therefore, we will expound and clarify below. Management Analysis Capital Expenditure On the surface
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to do quantitative finance, depending on the area that interests them. Core courses help students make an informed choice and staff act as student advisers. * Quantitative Finance This stream was introduced in response to the demand from merchant banks, investment managers and other financial organisations for graduates able to use analytical and numerical techniques to price financial derivatives and to manage portfolio risks. The BCom and BBusSc (Quantitative Finance) degrees cover much
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COMPANY CASE Bahrain Bay: Building Customer Relations for the Future Q1: What are Bahrain Bay’s four foundational philosophies and how might they be used as marketing tools? A: Bahrain Bay’s four foundational philosophies are: * Scale and Aesthetics (the artistic designs are the key edge of Bahrain’s buildings), * Social Equity (Bahrain Bay offers a wide range of opportunities for all), * Community (Bahrain Bay seeks to maintain unified community for its residents & business)
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Grade: 70/70 Excellent! Week Five: Assignment: Alternative Financing Plans |Assignment: Alternative Financing Plans |Due Date: | | |Available |Points |Comments | | |Points |Earned | | |All key elements of the assignment are |15 |15 | Correct! | |covered in a substantive way. |
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Abstract Creative accounting, as a matter of approach, is not objectionable by itself. However, when unethical elements make intrusion, the resultant accounting details become anything but true and fair. Creativity in such context is like referring to a half glass of water as half-full instead of describing it as half empty. While both statements are factually correct, they paint different picture and thus convey different images. Creativity in company accounting may arise under at least
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drafting, and inventory loans. These options are often used by businesses to cover day-to-day costs like supplies, inventory orders, and wages. Due to the nature of their shifting demands, seasonal businesses in particular often use short term finance arrangements. An example of short-term financing is a company signing a short-term loan in order to purchase more inventories. Proceeds from sales of goods would be used to repay the loan. This is appropriate only if the capital required by the
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