Corporate Corruption: Scandal at Germany-based Volkswagen Introduction Corruption is “the misuse of entrusted power for private gain (Deutsche Welle).” Misuse of power occurs when people in positions of power willfully deviate from established procedures for their personal gain, at the expense of public welfare. Europe’s biggest automobile maker, Germany’s Volkswagen AG, became embroiled in corruption scandals in the summer of 2005. German state prosecutors confirmed on June 30, 2005
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Inventories Fixed Assets Plant & Equipments Less accumulated depreciation Current Liabilities Long‐Term Debt Shareholders' equity Total assets = Total liabilities & Equity Income Statement The income statement is a financial statement listing the revenues, expenses, and net income of the firm in a period of time. Net sales (Cost of goods sold) (Selling, general & administrative expenses) (Depreciation) Earnings before interest & taxes (Interest Expenses) Taxable Income
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PRIVATE LAW FIRM – PEARSON SPECTER Pearson Specter is a fictitious law firm in New York City (Picked from Suites-TV series). REASON: After watching the TV series ‘Suits’, we felt that we could relate to the organizational designs. Also, practically, we are currently studying the main topics such as culture, ethics, motivation, impact of organization hierarchy, leadership. We can clearly see the human emotions and the internal hierarchy in the series. These emotions and practical demonstrations
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……………………………………………………………………..6 Creative Accounting…………………………………………………………………………….…7 Accounting Scandals..……………………………………………………………………………………………………10 The Enron Scandal……………………………………………………………………………………..10 The WorldCom Scandal………………………………………………………………….…………..12The consequences of Creative Accounting……………………..…………………………………13Measures of Prevention……………………………………………………………………………………15Conclusion……………………………………………………………………….…………………..17Bibliography……………………………………………………………...…………………………18 | Table of Figures Figure1. A proposed
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Essay The rate of changes in organizations has been increased by a diversity of external forces such as intensified global competition, the increases in technology, reduced revenues and customer dissatisfaction (Attaran, 2004). These changes have led to a rise in downsizing, restructuring, reorganization, mergers and acquisitions. Nevertheless, most entrepreneurs’ efforts in changing organizations have failed to achieve the expected outcomes in terms of revenue growth, cost reduction, productivity
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and Autonomy: A Strategic Misfire Rob Hemsath Strayer University Contemporary Business BS508 Dr. Antoinette Bridges May 19, 2014 Abstract Hewlett Packard’s 2011 Acquisition of Autonomy Corporation proved to be disastrous for the company’s financial status and reputation. While many have cited it as a poor decision, it was poor execution and HP’s internal conflicts that created a situation that resulted in HP writing of $8.8 Billion dollars of Autonomy’s value. HP’s relationships with its
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becoming wearied by the concept of corporate governance, seeing it as somewhat irrelevant, even passé: a response to the no longer relevant excesses of the 1980s. Many years of sustained economic growth, and Australia’s remarkable survival of the financial crisis in Asia, had led to a period of complacency about corporate governance - over time it became institutionalised and compliance focused, more driven by process and legal liability management for corporate officers than by notions of shareholder
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CORPORATE OWNERSHIP IN LATIN AMERICAN FIRMS: A COMPARATIVE ANALYSIS OF DUAL-CLASS SHARES Luiz Ricardo Kabbach de Castro Rafel Crespi i Cladera Universitat de les Illes Balears Ruth V. Aguilera University of Illinois at Urbana-Champaign We assembly new data on dual-class firms in Latin America and analyze the relationship between the largest shareholder characteristics and its decision to leverage voting rights. First, we describe who are the largest shareholders in Latin American firms. Second
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both to its board, stock exchanges, regulators, investors and all other stakeholders. Is this an accounting fraud, a market manipulation/fraud or both? It is a fraud, which misled the market and other stakeholders by lying about the company’s financial health. Even basic facts such as revenues, operating profits, interest liabilities and cash balances were grossly inflated to show the company in good health. Who is to blame here? The promoters? The promoters are primary culprits, although it
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upgrading. Unfortunately, cyber crime has also gained in preponderance and sophistication in direct correlation with this Internet revolution. Given its stealth characteristics coupled with its alleged multifaceted implications in terms of both financial loss and security issues, cyber crime has already got the legitimate recognition of a growing and serious threat by the various stakeholders concerned. The only contentious issue is perhaps the monetary quantification ascribed to the resulting damages
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