Introduction Creative accounting is referred to also as income smoothing, earnings management, earnings smoothing, financial engineering and cosmetic accounting. The preferred term in the USA, and consequently in most of the literature on the subject is „earnings management‟, but in Europe the preferred term is „creative accounting‟ and so this is the term that will be used in this paper. It should be recognized that some accounting manipulation involves primarily balance sheet rather than earnings
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Work Plan for the Consideration of Incorporating International Financial Reporting Standards into the Financial Reporting System for U.S. Issuers A Comparison of U.S. GAAP and IFRS A Securities and Exchange Commission Staff Paper November 16, 2011 OFFICE OF THE CHIEF ACCOUNTANT UNITED STATES SECURITIES AND EXCHANGE COMMISSION This is a paper by the Staff of the U.S. Securities and Exchange Commission. The Commission has expressed no view regarding the analysis, findings
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the projected earnings per share of $0.54, of the company fall short of their expected earnings of $0.74. With this, Hotte decided to deceive their shareholders and asked their Chief Finance Officer (CFO), Drew Bergman, to manipulate their financial statement. They manipulated the information with regards to the ending inventory, and overstating it thereafter. The problem now arises on how they will have to cover up the fraud to their audit firm, BDO Seidman’s Long Island. BDO Seidman’s Long
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Therefore, I consider the following set of process that Risk Management must do these. Overall, Risk management should involve identifying, assessing, and responding to project risks in order to minimize the likelihood of the potential impact of the events on the accomplishment the project out comes. Managing risk includes taking action to prevent or minimize the impacts. Risk management should try to plan the risk levels during the initial phase of the project life cycle to make sure. However, I believe
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Introduction International Netherlands Group (ING) is one of the world leading providers of banking and insurance products. Although ING was very profitable in the Asia/Pacific markets, the CEO noticed a lack of communication between the countries. This paper will analyze the current structure of ING then provide different options in changing the current culture of ING. Analyzing ING’s Current Structure ING’s current organizational structure for the Asian market is unsystematic. A Chain of command was
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Financial Management of For-Profit and Nonprofit Organizations by Kamilah A’Vant Submitted to MGMT 640 9040 November 13, 2011 EXECUTIVE SUMMARY This paper will outline the similarities and differences between for-profit organizations and nonprofit and organizations. Many view for-profit and nonprofit companies as very different business organizations; however they have many commonalities. Both for-profit and nonprofit organizations are corporations. As a corporation
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a difference in the use of financial leverage for a utility company and an automobile | | |company? | | | | | |A utility is in a stable, predictable industry and therefore can afford to use more financial leverage than an | |
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Tabor and I am excited to be your instructor for the class. A little about myself…..I was born in south Louisiana and currently reside in League City, TX. My wife and I have three children, which keep us extremely busy. My daughter is 9 and my twin boys are 8. I am currently a Corporate Controller in the Houston, TX area. I am also a Certified Public Accountant in Louisiana, have an MBA from Nicholls State University, and a Masters in Taxation from the University of Tulsa. I am currently
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simple enough to follow the advice to “double-check your return,” but surprisingly, people often are too careless regarding their taxes, said Thomas Jensen, managing partner of Vaerdi Financial in Portland, Oregon. He advised waiting for all your income reports, bank and investment statements and other applicable financial paperwork to arrive before starting your tax return. “Sometimes people simply forget (income) or they don’t get all of their forms gathered, and they make mistakes that are avoidable
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(Risk Assessment Standards Toolkit) which covers the risk assessment standards and the key points auditors need to consider when incorporating them in an audit. Second, PCAOB AS 5; Audit of Internal Control over Financial Reporting that is Integrated with an Audit of inherent risk. My paper will cover the following topics outlined in the article: benefits of risk-based auditing, planning a risk assessment procedure, gaining an understanding of the IT environment, risk assessment, determining whether
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