HISTORY OF FISCAL ADMINISTRATION AND THE THEORY AND PURPOSE OF TAXATION Introduction Fiscal Administration is not difficult to define. In simple terms, fiscal administration is the branch of economics that deals with the revenues and expenditures and their impact on the economy. It is the manner of collecting something from the constituents and spending it also for the constituents. And the exact definition according to http://www.wisegeek.com/what-is-fiscal-administration.htm, fiscal
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and common public's faith in our economy and capital markets is shattering, they are demanding accountability and responsibility in corporate behavior, and wants the government to take effective actions, in the form of regulatory systems, improved auditing, and stepped up law enforcement (Coglianese, Healey, Keating and Michael, 2004). Before we dig deep into the government regulations in place, let’s discuss the role of accounting profession, particularly the corporate financial
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Ponzi Scheme Keller Graduate School Forensics Accounting The Bernie Madoff scam truly made history. Bernie Madoff probably would not have been able to prolong this scam without the continued help of the Accounting Firm of Friehling & Horowitz CPAs PC, who at last reported purported to audit financial statements and disclosures of Madoff firm for the last 17 years. Ponzi schemed to help Madoff by trying to go undetected because of Friehling deceiving investors and regulators by declaring
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Waste Management Fraud Final Project BS 325 Dustin Nystel 12/17/10 Waste Management Overview Waste Management Inc. is a Houston Texas based company providing waste management and other services in North America. Yahoo financial summarizes the company as follows: Waste Management Inc. offers collections, transfer, recycling, disposal, and waste-to-energy services. Its recycling operations include collections material processing, plastics materials recycling, and commodities recycling
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The Marketing Audit Comes Of Age Philip Kotler, William Gregor and William Rogers Comparing the marketing strategies and tactics of business units today versus ten years ago, the most striking impression is one of marketing strategy obsolescence. Ten years ago US, automobile companies were gearing up for their second postwar race to produce the largest car with the highest horsepower. Today companies are selling increasing numbers of small and medium-size cars and fuel economy is a major selling
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information compared to another (such as the seller knowing more than buyer) Woolworths Example: To find the annual report of Woolworths: 1. Search for the company website 2. Find the category – ‘Woolworths Limited’ 3. Locate ‘Invest in us’ – find all the history of annual reports Most of this information in annual reports is based on accounting. Woolworths Example: To check/reference the validity of CEO’s salary, we view 1. Company’s overall performance 2. Company’s competitors, in this case, Wesfarmers (including
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Are the Dodd Frank Act Whistleblowing Measures Effective? Whistleblowing in the Financial Markets: Name: Professor: Course: Date: In the wake of the Global-Financial Crisis there have been various strategies employed to improve corporate governance, but the main question to ask will they work? The expansion of whistleblower bounties under s.992 of the Dodd-Frank Act 2010 (Dodd-Frank Act) has been one such measure. This measure has been identified as significantly controversial, because it
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stores across the U.S. and reported fiscal year (FY) 2009 sales of $23.5 billion. Although Macy’s is a prominent retailer today, their success had to start somewhere. In this summary we will take a glance at Macy’s history as well as their prior and current financial information. Brief History of Macy’s, Inc. Before Macy’s, Inc became a household name Rowland H. Macy, the founder of Macy’s Inc., started a dry-goods store in 1851 in Haverhill, Massachusetts where he made $11.06 on its first day. Since
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profit than auditing. In 1989, the consulting operation, wanting more control and a larger share of profit, became a separate part of a Swiss partnership from the audit operation. In 2000, following an arbitrator’s ruling that a break fee of $1 billion be paid, Andersen Consulting split completely and changed its name to Accenture. AA, the audit practice, continued to offer a limited set of related services, such as tax advice.2 Changing Personalities and Culture Throughout most of its history, AA stood
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and assess the impact, of a hands-on working experience prior to graduation. Accounting as currently taught at Universities There is no comparison in the methodologies of teaching accounting – a technical subject – with other subjects such as history or philosophy. These subjects teach what is fact and many of the concepts have largely remained static. On the other hand, the field of accounting develops on a continuing basis. The Financial Accounting Standard Board (FASB) implements new updates
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