Ethics Case Cranor Corporation has sustained a before tax loss of 8.4 million dollars in 2011. They have sustained the loss from a 10 million dollar expense occurring from a product recall. The company controller, Jim Dietz, wants to include the loss as an extraordinary item on the income statement. The Cranor Corporation has been growing consistently over the past decade and now this year will have a loss. The company controller doesn’t want to have a loss on the income statement because it will
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Worldcom 1.What are the pressures that lead executives and managers to “cook the books ” * Pressures from investors ……they want to see that the company/business is growing * Attract new investors ….for the business to grow * Personal reasons …greed and wanting more * Pressure form the big boss * Brand of the company … the business has been known to be a big brang * Slow/decline in the industry 1. What is the boundary between earning management and fraudulent reporting
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Categories of Computer Crimes Valencia Faye Walker Information Technology Dr. Patricia White (Instructor) April 9, 2012 The “Integrity’ in the criminal justice field is that of duty, obligation, morality, discretion and fairness. The type that shows each individual has moral worth, wherein the individual is endowed with certain rights that cannot be taken away. The tradition of moral rights maintains that
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with the financial records of company for benefit or hiding scams. Auditing failure was another reason behind general crisis, auditing failures occurs when auditor declares that a company’s financial statements are true and fair but comprises many frauds or disclosed information. This eventually resulted in questioning of auditors role in providing true and fair view of financial records around the world. The motive behind writing this essay is to gain more information and knowledge about Auditing
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the population and seniors concerns to increase their income from investments and improve their health. The scams profiled include home-improvement projects, where a person takes the victim's money but does not perform the work promised; investment frauds and controlling their money for the future; and health and medical scams, which promise the equipment and service that do not perform as advertised. Also, research was taken from a survey from a rehab center with most of them senior citizens. The
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Intro to HealthSouth Fraud Case Review In 2003, HealthSouth was accused of one the largest accounting fraud cases in healthcare history and those involved are still being tried today, nine years later. HealthSouth was founded in Birmingham, Alabama in the year 1984 by a respiratory therapist name Richard Scrushy. By the year 1999, HealthSouth had grown to house 230 surgical centers, 120 inpatient hospitals, 5 medical centers, 129 diagnostic centers and 1379 outpatient rehab centers and was worth
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------------------------------------------------- Date: October 10, 2013 ZZZZ Best Company, Inc., a carpet cleaning and restoration company became the illegitimate business front for one of the largest investment frauds in American history. Barry Minkow started working in the cutthroat carpet cleaning industry at a young age. A risky Minkow began perpetrating frauds on a small scale and eventually took his Ponzi scheme public. Red flags went unnoticed from banks, investors, and auditors. Crucial auditor mistakes postponed the uncovering
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after identity theft. Child Identity Theft. (2013). Retrieved from http://www.identitytheftfacts.com/articles/child-identity-theft-2013/ Already rampant and increasing in frequency of occurrence, child identity theft represents an attractive form of fraud, because crooks can take out credit in their victim's name and have it go without notice for years. This article shows parents valuable ways to secure their child’s future and information that normally goes unnoticed until they reach the age of 18
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have committed? How can you remedy and prevent this from occurring again?1 The attacker can be charged with the following Violations: No Electronic Theft Act (18 U.S.C. § 506). Identity Theft & Assumption Deterrence Act (18 U.S.C. § 1028). Fraud and Related Activity in Connection with Computers (18 U.S.C. § 1030). Interception and Disclosure of Wire, Oral, or Electronic Communications (18 U.S.C. § 2511). Unlawful Access to Stored Communications (18 U.S.C. § 2701) Disclosure of Contents
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Insight on WorldCom Scandal Table of Contents ABSTRACT 2 The importance of accounting conceptual framework 3 Historical Background 5 The Scandal – what happened 6 PENALTIES 7 How the scandal relates to accounting theory 8 RELATION TO POSITIVE ACCOUNTING THEORY 9 Conservatism Principle 9 Lack of Reliability 10 Lack of Relevance 11 Financial Misstatement 11 Conclusion 12 Bibliography 14 Insight on WorldCom Scandal ABSTRACT The scope of this paper deals with the
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