Assignment 1: Scandals in Auditing Fortex Introduction Fortex was regarded as one of New Zealand’s top companies. They used innovative technology to add value to their product. They won awards‚ looked after employees‚ and paid suppliers well. But when the company collapsed in March 1994 it was revealed that the success was all based on false accounting. The management team was able to fool a company of respected auditors as well as everybody else for more than three years. Thousands
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Accrued Income • Tuck-shop • Bar/Coffee Shop • Jerseys • Socks • Stock of Refreshments • Stock of Jerseys • Stock of Socks • Stock from Tuck-Shop • Stock from Bar/Coffee Shop • Bank • Creditors for Refreshments • Creditors for Tuck-Shop • Creditors for Bar/Coffee Shop • Creditors for Jerseys • Creditors for Socks • Donations Income • Donations Expense • Refreshment Sales • Tuck-Shop Sales • Bar/Coffee Shop Sales • Jersey Sales • Socks Sales • Honorarium What control measure have
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liabilities and by writing off the losses already suffered by reducing the paid up value of shares and/or varying the rights attached to different classes of shares. The object of reconstruction is usually to reorganize capital or to compound with creditors or to effect economies. Such a process is called internal reconstruction which is carried out without liquidating the company and forming a new one. However‚ there may be external reconstruction. Wherever an undertaking is being carried on by
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UNIT 4 Sole Traders – Financial Statements Copyright 1995 by Thames Management Centre International. All right reserved. No part of this lecture notes may be reproduced in any form or by any means‚ without the permission in writing from Thames. * 4.1 Introduction At the end of the business financial year end‚ a set of financial statements will be prepared by the company for reporting to the owner of the business as well as for submission to the local tax authority. However‚ financial
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with a new strategy and a new name (Enron Creditors Recovery Corp). Now its sole mission is to reorganize and liquidate the remaining operations and assets of Enron. ECRC has successfully undertaken legal action to hold responsible the major financial institutions that it contends assisted the pre-bankruptcy Enron deceive the public. Once ECRC has completed all outstanding litigation and monetized all assets‚ it will make a final distribution to creditors. After that‚ the company will cease to exist
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Days shorter could bring more Competitive power for Ted Baker. According to the line chart from above that the trend of creditor days has go down‚ even the data has slightly go up in 2012. Usually‚ Ted Baker should ensure the Creditor Days as longer as they can. This can be explained that Companies can occupy more supplier payment to supply the working capital. The Creditor Days depend on Average trade payables and Credit purchases. After calculated the data has shown that the growth rate of Average
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Table of Contents History of El Pollo Loco 3 Motivations for Expanding Internationally 5 Alternative International Expansions 7 Justification for Expanding to Australia 9 Australia: Region of Interest 11 Geography 11 Climate 11 Agriculture 12 Distance 13 Population 13 Religion and Language 15 Issues Related to Management 15 Historical 15 Economic 16 Political and Social 16 Legal 17 Cultural Dimensions Analysis for Success 19 Current and Historical Marketing Practices 21 Four P’s
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Starbucks Access the Internet to acquire a copy of the most recent annual report for the publicly traded company used to complete the Financial Reporting Problem‚ Part 1 assignment due in Week Six. Analyze the information contained in the company’s balance sheet and income statement to answer the following questions: •Are the assets included under the company’s current assets listed in the proper order? Explain your answer. The current assets should be listed in the order of liquidity. The
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1 – Partnership Ownership Changes & Liquidations - Heading Chapter 14: Partnership Ownership Changes & Liquidations 3 – Partnership Dissolution - #1 • Dissolution is a legal termination • UPA § 31 & 32: – admission or withdrawal of Pr results in Pp dissolution • When act of dissolution occurs‚ Prs may – continue business as new Pp or – liquidate 2 – Partnership Dissolution - Heading Partnership Dissolution 4 – Partnership Dissolution - #2 • Remember dissolution is not
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beginning after December 15‚ 2016. ASU 2014-14‚ Receivables —Troubled Debt Restructurings by Creditors (Subtopic 310-40): Classification of Certain
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