As the internal accountant for XYZ, Inc. it is my responsibility to inform you that I do support the full financial review prior to submitting our bid to the United States government. I have provided four major reasons why we should have a full financial review. Each of these four reasons is listed below as to why it is important to take action and take advantage of a full financial review. 1) The impact of occupational fraud and abuse on the company. Occupational fraud and abuse can financially
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Bernard Mitchell Jr. Forensic Accounting Prof. Steffel May 23, 2013 The Forensic Accountant What is a forensic accountant? There are many attributes that are needed to be a forensic accountant. Bolgna and Linquist (1995) defined forensic accounting as the application of financial skills and an investigative mentality to
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to the public; these documents are usually considered in litigation affairs. Generally, the field of accounting was undergoing a major overhaul; before the recent economic crisis that has devastated some parts of the western world, the accounting scandals regarding WorldCom and Enron pushed the field towards change. Accounting in general was put under scrutiny as a result of increasing white collar crime and the economic crisis pushed that process even faster and further. Ergo, there was an increasing
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decisions Enron failed to remain a stable and productive company. Enron due to a misrepresentation of funds found itself on the brink of bankruptcy. The company stock was worthless and within a short period of time has gone down by 89.00 per share. A scandal was revealed that involved the companies own accounting firm, Arthur Anderson, and Enron. The unethical practices of Enron were discovered in 1990 resulting in an investigation, which included finding out why stock prices being manipulated. This paper
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Self-Esteem over Logic and Beliefs Columbia College, Missouri Abstract Self-Esteem gives a person the right to value themselves. Our self-esteem sometimes overpowers our logic, and can lead us to act in ways that are not always our own. This paper examines how the following theories; Theory of Cognitive Dissonance, Self- Evaluation Maintenance Theory, Self-Affirmation Theory, Rationalization Trap and Self-Discrepancy Theory impact a person's self-esteem decisions. Where people in different
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REPORT OF INVESTIGATION BY THE SPECIAL INVESTIGATIVE COMMITTEE OF THE BOARD OF DIRECTORS OF WORLDCOM, INC. Dennis R. Beresford Nicholas deB. Katzenbach C.B. Rogers, Jr. Counsel Wilmer, Cutler & Pickering Accounting Advisors PricewaterhouseCoopers LLP March 31, 2003 I. SUMMARY AND CONCLUSIONS ................................................................................. 1 A. The Nature of the Accounting Fraud..................................................................
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China’s tainted baby milk powder 1. Yes I believe that there was some damage to Baidu.com reputation. According to the article there were rumors that Baidu.com was accepting payments to keep information from surfacing regarding the tainted milk during a search, which goes against the integrity of the company. Also Baidu.com was under attack for not separating paid advertisements from non-paid search results. 2. Because of the rumors, it could cause the stakeholders to lose confidence
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Week 2: This week talked about the accounting environment in Australia. At the beginning of the lecture, we were asked to complete a questionnaire. The questionnaire contained the definitions of accounting terms. Introduction to course outline, trying to understand how it relates to accounting degree as a whole. The way to develop an understanding is to focus on the suitability of current accounting practices and how to develop improved accounting practices where current practices are unsuitable
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Hello, It is good to chat with you again! This last assignment was a pretty tough one on more than one count. Not only did I have to cover the current political campaign, but I also had to do incredible amounts of online research to make sure that I provided as much background as I could for my reader. And as you know, it can be very difficult to sift through all of the many sites that are out there that claim to be reporting valid political information so along with making sure that I provided
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The activities of the leadership of Enron and its Board of Directors is a virtual how to on how unethical decisions can and will eventually bring a company to the brink of collapse. The short term rewards of unethical activity can be quickly overcome by the destructive force of investigations and market swings. How greed and lack of oversight can cause the disruption of the livelihoods of employees not directly involved with the unethical behavior. We will examine the events leading up to the
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