Week Five Reflection Summary ACC/290 Principles of Accounting Date Teacher Week Five Reflection Summary Team B In recent years there have been many highly publicized financial accounting scandals. Enron‚ WorldCom‚ and AIG are a few of the well- known corporate companies that have been involved in financial reporting scandals. United Sates regulators and lawmakers made known their concerns of mistrust in corporate accounting‚ because of unethical financial reporting. In 2002 Congress
Premium Enron Corporate governance Finance
really better than 5? Did you know that over 100 schools in 17 states in the USA already changed the school regime to a 4 day school week instead of 5? But was that really a wise decision to make? Many other schools all around the world are discussing this issue if they should change the school week to simply 4 days. Education is extremely important but the important question is; what school regime is better? The idea of changing the 5 day school week to a 4 day school week at first looks very
Free Education
interest exp. (400‚000 + ½ (300‚000)) 5% = (550‚000) 5% = 27‚500 Long-term interest exp. (400‚000 + ½ (300‚000)) 10% = (550‚000) 10% = 55‚000 27‚500 + 55‚000 = 82‚500 Earnings before interest and taxes = 200‚000 Interest expenses = 82‚500 Earnings before taxes = 200‚000 – 82‚500 = 117‚500 Taxes = 117‚500 X 34% = 39‚950 Earnings after interest and taxes = 200‚000 – 82‚500 – 39‚950 = 77‚550 B. Short-term interest exp. ( ½ (400‚000)) 5% = (200‚000) 5% = 10‚000 Long-term interest exp. (400
Premium Finance Economics
Bank fraud is a crime that has been around as long as banks themselves. Anytime there is a large amount of money floating around‚ there are going to be people trying to figure out ways to get to it. In the United States‚ and most other developed countries‚ bank fraud is a serious problem that causes billions of dollars in damages every year‚ and is considered a federal offense. In China bank fraud is even punishable by death. Bank fraud is defined as attempting to wrongfully take money or property
Premium Fraud Theft Identity theft
PREVENTION AND DETECTION OF FRAUD. The primary responsibility for fraud detection lies with management. This arises due to a contractual duty of care. Directors are able to discharge their duty toward prevention and detection of fraud and error in many ways‚ for example: * Complying with the Combined Code on Corporate Governance * Developing a code of conduct‚ monitoring compliance and taking action against breaches * Emphasising a strong commitment to fraud prevention. This involves
Premium Fraud Auditing Internal control
ACC291 Week 5 Exercises -‐ E13-‐1‚ E14-‐1‚ P13-‐9A‚ P13-‐10A‚ P14-‐2 E13-‐1 A. B. C. D. E. F. G. Financing activities Non-‐cash investing and financing activities Noncash investing and financing activities Financing activities Investing activities Operating activities Operating activities E14-‐1 Blevins Inc Condensed Balance Sheet 2012 Assets Current
Premium Investment Depreciation Asset
University of Phoenix Material Thesis Statement and Informal Outline Worksheet In this course‚ you will write a 1‚050- to 1‚750-word Personal Responsibility Essay‚ due in Week Five‚ which includes the following: • Define what personal responsibility means to you. • Explain the relationship between personal responsibility and college success. • Include a preliminary plan to practice personal responsibility in your education. This week‚ using the Center for Writing Excellence resources
Premium Writing
Team Assignment Week 5 Your team members run an HR consultant firm to several companies in the metropolitan area. In your email in box one morning there are several emails from several different companies‚ all of which want your advice on the legality of Help Wanted ads for jobs in their respective companies. Their main question is whether or not the job ads would violate any of the federal laws which prohibit job discrimination. Here is the content of the email queries: A. (From a local stage
Premium Law English-language films Company
The 10 biggest frauds in recent U.S. History Enron: The energy company’s bankruptcy in 2001 after allegations of massive accounting fraud wiped out $78 billion in stock market value and led to the collapse of Arthur Andersen and the passage of the Sarbanes-Oxley Act of 2002. A class action settlement of $7.185 billion was the largest of all time. Former President Jeff Skilling is serving a 24 year sentence. Bernard Madoff: New York money manager Bernard Madoff’s $65 billion Ponzi scheme‚ the
Premium Fraud Enron Class action
topic of tax fraud. We will begin by introducing the basic concepts of tax fraud. Secondly‚ this paper will also delve into some of the laws that have been passed as punishment for those parties that decide to commit tax fraud. We will also highlight some of the more current examples of tax fraud that have been committed and the details that lead to the perpetrators being caught. Lastly we will discuss the role that criminal investigators have in the realm of tax fraud. Tax fraud can be stated
Premium Tax Internal Revenue Service Taxation in the United States