Making a dream into reality, we would like to present our business plan for Kyle’s Ice Cream Shop. This business plan will provide business structure, service, staffing, and accounting plans for your consideration. Kyle’s Ice Cream Shop will be a family owned business. The business will be run by owner (April Hoosier), therefore making it a sole-proprietorship. Starting a small business such as an ice cream shop that we prefer to keep as a family owned business we feel it is in the best interest
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Trikenya Wilson Professor Warburton June 18, 2011 Eco 360 – White Collar Crime – Homework #1 The elements of white collar crime that gave rise to the enactments of the statutes were bank fraud, making false statements to banks and auditors, securities fraud, wire fraud, money laundering, conspiracy, and insider trading. Enron’s accounting practices Enron had created offshore entities, units which may be used for planning and avoidance of taxes, raising the profitability of a business
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Busicom2 – 05/02/10 Executive Summary In 2001 fell Enron after one of the biggest scandals in the modern economy. Creative accounting, oppressive management and deceptive communication are in the heart of that affair. The first ruse was a cheating accounting. The company used the mark to market system, but in an illegal way for they calculated the assumed profits for the next 20 years, ie long term assumed profits. Moreover, they did not declare all the expenses (only a third for the trade with
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they are doing and reporting. They must ensure that the users of the information are protected so as the risk of wrong information is minimum. Accounting Scandals Ethics in accounting has been highlighted by the reports of several high profile accounting scandals over the years, such as WorldCom, Phar-Mar, AIG and Enron. The Enron scandal resulted in both the energy giant and their auditor, Arthur Andersen to collapse.[3] This is a classic example of what Gregg Easterbrook describes as “an ethic
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Discussion of Mark-to-Market standards for Investment securities Relevance vs. Reliability – “Going back to the basics” In a recent Wall Street Journal article titled “A Scion Drives Toyota Back to Basics”, Toyota’s incoming president, Akio Toyoda, said that the company his grandfather founded 72 years ago has become too fancy for its own good. Mr. Toyoda maintains kakushin, or “revolutionary change”, spawns technological innovation that comes at a cost. His conclusion is that these increased
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The Collapse of Enron Assessment Task A brief introduction outlining the key facts in the selected case On December 2nd 2001 the largest bankruptcy in US history was filed by energy trader, Enron Corporation. Once regarded as one of the fasted growing, innovative and best managed businesses in the United States, the collapse of the energy giant highlighted a series of corrupt and criminal activities that were, according to several investigations, rife throughout Enron’s operations. Enron Corporation
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Financial Scandals and the Role of Private Enforcement: The Parmalat Case Law Working Paper N° 40/2005 May 2005 Guido Ferrarini University of Genoa, Centre for Law and Finance and ECGI Paolo Giudici Free University of Bozen and Centre for Law and Finance © Guido Ferrarini and Paolo Giudici 2005. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. This
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Management Planning and Ethics Student __________ Axia College of University of Phoenix MGT 330 Management Theory, Practice and Application Instructor ________ Date _________ Management Planning and Ethics Only during the last few decades has planning become a widespread function of management. In the mid-1900s formal planning was only adopted by a few large corporations. Nowadays, aggressive and opportunistic entrepreneurs who run small firms also engage in formal planning (Bateman
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consultancy and professional auditing makes it rather more imploded for the direct involvement of Andersen's that also successively ushered the debacle and bankruptcy of Enron for the entire sheer element attached to it. Moreover, the accounting scandal involving Enron have been subject to criticism from many quarters. However, insiders who testify against the auditing firm make it the biggest party of the fall out and bankruptcy of Enron
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of the past repeating itself in the financial market world, but as the book talks about, the Arthur Andersen scandal that gave the creation of new acts and regulations such as the Sarbanes-Oxley act shows that unscrupulous behavior has existed way before companies such as Enron and WorldCom made world headlines when it was revealed that they had overstated their earnings. These scandals cots investors billions of dollars and shattered the dreams of thousands of people and their confidence in the
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