Accounting and to develop in them the ability to evaluate and use accounting data as an aid to decision making. The main purpose is to assist the students in developing skills in problem solving and decision making in the financial area. Emphasis is laid on analysis and utilization of financial and accounting data for planning and control. 2. Course Duration: The course duration is of 40 sessions of 70 minutes each. 3. Course Contents: |Module No: |Module Content
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or sell the business at their discretion. Some disadvantages to choosing sole proprietorship is that all of the business and personal assets of the sole owner are at risk, and the difficulty of the sole proprietor obtaining a business loan from financial institutions due to the possibility of small business failures. A further disadvantage is if the owner dies, the business cease to exist. The assets and liabilities of the business are passed to the heirs of the owner, but the
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80) they are conditions, incentive, opportunity, and rationalization to commit fraud. By understanding these conditions businesses will be able to create effective and quality internal controls system that will help prevent fraud and fraudulent financial reporting, such as the one presented in this case. Even so, with the best set of controls businesses are still susceptible to fraud. As I examined this case study concerning coupon accounting abuse I will answer questions pertaining to company controls
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to light. For someone interested in the Forensic Accountant profession they should know that this field can be time consuming, but very rewarding. People who work in this career investigate white collar crimes such as company fraud, fraudulent financial record reporting, and illegal investment schemes. In a recent study by the Federal Bureau of Investigation shows that white collar crimes have cost the United States and estimated 300 billion dollars (DiGabriele 2008). I think five of the skills
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Deal or No Deal: Should the United States of America Adopt the International Financial Reporting Standards? Since 1936, accountants in the United States have been following a set of generally accepted guidelines, historically set by the American Institute of Certified Public Accountants, for their practices. These guidelines have come to be known as the Generally Accepted Accounting Principles, or GAAP. Since their creation, these principles have protected companies and investors from fraud
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Introduction Business Financial statements are reports that provide financial information about entities such as corporation or small businesses. This information can be of great value for investors and creditors alike, as well as when making decisions about the financial wellbeing of these entities. These financial statements can be divided into four major categories: Income statement: This statement reports the success or failure of the company’s operations for a period of time; it determines
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million and was internally financed. The group also set up a new company called Nicoventures, to develop and test alternative nicotine products. (The Financial Times, 2011) In December 2012, British American Tobacco acquired CN Creative, a UK-based start-up which specializes in the development of ecigarettes, for an undisclosed sum. (The Financial Times, 2012) Tobacco Industry: Tobacco companies have to deal with a highly competitive marketplace and despite the adversity the overall value of
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International Financial Reporting Standards (IFRS) were established by International Accounting Standard Board to promote the use of global accounting standards so that company accounts are comparable and understandable across the countries. As of August 2012 more than 120 countries require or allow the use of IFRS for their financial reporting. An entity claiming compliance with IFRS should comply with all its standards including disclosure requirements and makes a explicit statement of compliance
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the financial statements it appears that this company is strong and operating at full capacity, but after digging a little deeper the appearance of the company does change slightly. From an investment standpoint, the company does pay its shareholders' dividends on a regular basis, but experts within the field only rate this company as a middle level investment opportunity, meaning that investors might want to consider other companies if they want to maximize their funds. The income statement and
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COMM107-1501 Informational Interview Journal Entry For the interview assignment, I interviewed Ms. Julie Nguyen, senior internal auditor at Watkins, Meegan LLC. I was not as nervous for this interview, because I met Julie few times before, during the career fairs at Smith Business School, and also prepared carefully all the questions to ask Julie. Overall, the interview went very well and Julie was a helpful person to talk to about physical therapy because she has had a lot of experience in
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