TOTAL ABOUT THE COMPANY TOTAL is an international oil and gas company also involved in chemicals and new energies. TOTAL is the fifth largest publicly traded international oil and gas company in the world. It employs nearly 100,000 people in over 130 countries. In 2012 alone it saw sales of over 200 billion Euro. It first began drilling in the middle-east but now has production of oil and gas in 30 different countries. Its drilling activities produce about 2.3 million barrels of oil per day
Words: 845 - Pages: 4
that enables the formation of diversified business groups that are a dominant feature of business organization in much of the world. The paper aims to give an illustration of this within-firm trade-off of costs and benefits in the context of publicly traded firms in China. Moreover, capital investment and firm performance are investigated from the perspective of pyramidal ownership structure. In the last part of paper it is examined why when a listed firm gets into financial trouble and is designated
Words: 6206 - Pages: 25
comply with reporting properly in accounting could possible lead to a company failing or filing for bankruptcy or lawsuits that cost millions and ultimately cause a business to fail or to gain a bad reputation. This why all document and reports need to be well documented and all funds accounted for. This places the responsibility of management establishing control and procedures for financial reporting. It benefits the company in the long run. Especially when there are large amounts of funds being
Words: 346 - Pages: 2
Liu 1.I believe the Principal Accounting Officer (PAO) should attest to the effectiveness of internal control when that position is not also the CFO. The PAO has extensive knowledge of the accounting processes and control structures within the company so an attestation on internal control effectiveness would be pertinent. In the Koss case, the PAO is the one perpetrating the fraud so the attestation from the PAO would be unhelpful. However, I do believe the opinion of this position does matter
Words: 319 - Pages: 2
Indian market overview: How stock market works? If you'd like to buy a share of stock in any publicly traded company you'll most likely need the services of a brokerage firm. Though it's possible to buy and sell shares of stock on your own, there are some practical and legal problems with this approach. The securities industry is highly regulated, so you can't just hang a shingle and start selling stocks to the general public, unless you're properly registered and licensed. A brokerage firm is a
Words: 8907 - Pages: 36
known as the Public company accounting reform and Investor Protection Act of 2002 and commonly called SOX or Sarbox is a United States federal law passed in response to a number of major corporate and accounting scandals including those affecting Enron and WorldCom. The Act establishes a new quasi-public authority, the Public Company Accounting oversight Board for overseeing, regulating, inspecting and disciplining accounting firms in their roles as auditors of public companies. The Act covers issues
Words: 2181 - Pages: 9
Lockheed Martin, Fiscal Year 2012 Donna K Falkenburg Professor Susan Lightweis Accounting 206 – Accounting II 6/02/2013 Lockheed Martin is a publicly traded, global security and aerospace company formed in 1995. They are principally engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems and products. They are also known to provide a broad range of management, engineering, technical, scientific, logistic, and information systems
Words: 846 - Pages: 4
role of the board of directors and its sub committees: A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. it shall resolve all business matters which are not reserved to the authority of the general meeting of shareholders or other executive bodies of the company. In particular, the board shall have the following duties: 1. governing the organization by establishing broad policies and objectives 2. selecting, appointing
Words: 454 - Pages: 2
needs proper and adequate internal control to ensure success of the company. Internal control reduces the risk of financial fraud and financial misstatement. When a company has an out of control system, it is recommended to hire an internal auditor to perform internal audit. This report will briefly explain the benefit of using internal auditor and how the qualifications and background of the internal auditor will benefit the company. Benefit of Internal Auditor Internal auditing is designed to improve
Words: 464 - Pages: 2
Fraud Examination - Research Project Select a publicly traded company that has experienced Fraud since 2002. You will need to receive approval from me for the company in which you select PRIOR to beginning your research. You MUST submit the name of the company you have chosen by the end of this unit. Your final project is due no later than the end of Unit 9. Company selected: AOL Time Warner. When scandal went public: July 2002. As the ad market faltered and AOL's purchase of Time Warner
Words: 402 - Pages: 2
