EXECUTIVE SUMMARY NOTE: “The executive summary usually appears before the table of contents and is given a lower-case Roman numeral page number (for example, i).” – from the guide on accounting writing methods on BB. The collapse of Enron in 2001 has alerted the financial standard-setters worldwide for the need to develop a single set of global high quality accounting standards in order to achieve greater transparency, clarity, consistency and comparability of the financial reports. This
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Re-Branding influence on Customer purchase Decisions SUBMITTED TO: SUBMITTED BY: Rahim Munshi Hussain Padrawala ASSIT. PROFESSOR MBA 2st YEAR (4rd SEM) ACKNOWLEDGEMENT I would like to express my gratitude to my supervisor Rahim Munshi for the useful comments, remarks and engagement through the learning
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Report on Corporate Frauds & the Role of the auditors: Bangladesh Perspective Faculty of Business Studies University of Dhaka SUBMITTED TO Tahmina Ahmed Lecturer Accounting & Information Systems University of Dhaka SUBMITTED BY Group 18 Date of submission:10.11.14 Group members Name | ID | 1.Sajjad Hossain Sohan | 18022 | 2.Rubina Akther | 18048 | 3.Mohammad Saadman | 18052 | 4.Rumi Akther | 18066 | 5.Hilary Talukder | 18099
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The standard setting process The recent, high profile accounting scandals shook the foundations of the capital markets. Financial reporting furnishes investors and other stakeholders with reliable and relevant information. In the short term unethical financial reporting resulted in loss of billion dollars, but in the long term the impact was even more severe: loss of confidence in financial reporting as reliable source of information. The following reforms aimed to restore investor confidence
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AN OVERVIW OF CREATIVE ACCOUNTING AND WINDOW DRESSING Introduction: Every organization is expected to operate within the confinement of best practices or core competence at least, which has tendency of leading them to distinctive competence or exceptional practice. Since business operations center basically on finance, firms therefore take the accounting records of their organizations very serious as it determines their stay in industry or extinction from the market (business operations). It is
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Assignment I: Tainted Baby Powder Milk 1. Yes, I believe there has been some damage to Baidu.com’s reputation because there was a significant stock price drop from $308 to $110. Stock price drops usually are the result of a lack of confidence by the stakeholders in the future performance of the company. Lack of confidence can often be attributed to actions by a company that are revealed to the stakeholders. 2. Future reputational damage could be reflected by a lack of confidence of the stakeholders
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explanation only.) 2002 saw an unprecedented number of corporate scandals: Enron, Tyco, Global Crossing. In many ways, WorldCom is just another case of failed corporate governance, accounting abuses, and outright greed. But none of these other companies had senior executives as colorful and likable as Bernie Ebbers. A Canadian by birth, the 6 foot, 3 inch former basketball coach and Sunday School teacher emerged from the collapse of WorldCom not only broke but with a personal net worth as a negative
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face by Flat Cargo Berhad, accounting fraud, found that Flat Cargo Berhad (FCB) was involved in fraud, this matter will bring great impact to the accounting profession of Malaysia and the public confidence towards the profession will collapse similar to the case of Enron that is revealed in the year of 2001 from the pressure which regard to sustain in the industry leader in Malaysia air cargo carrier and maintain reputation of FCB under the international crisis in oil. Opportunities, for the poor internal
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Lehman Brothers & Repo 105 On September 15th 2008, the fourth largest U.S investment bank, Lehman Brothers, filed for chapter 11 bankruptcy. With revenues peaking at $19.2 billion in 2007 and over $600 billion in assets, the collapse of Lehman became the largest bankruptcy in history. Lehman’s demise was attributed to their aggressive investment strategy and significant exposure to the subprime mortgage market. As the housing bubble grew, Lehman Brothers acquired several mortgage lenders
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member countries to work urgently with us to address major corporate governance failures. This will be a vital step to reinforcing market integrity.’ - Angel Gurría, Secretary-General, Organisation for Economic Co-operation and Development (OECD). The collapse of global financial markets in September 2008 has ignited a debate on what caused their quick undoing. As captured in the comments of the OECD Secretary-General, there is a growing sentiment that poor corporate governance is one of the forces to
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