Don Russell: Experiences of a Controller/CFO 1985: Coporate controller at C&S updated the charts of accoutns did major cost reductions was promoted to vice president intitiated a study on the strategic planning tried to convicen management to change to a chash focused planning system instead of operating income 1989 CFO at EFI Updated the budget sys. (Satellite business was unprofitable) Found out that earnings were artificially increased (e.g. by depreciating equipment longer than realistic
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for Derivatives at FA (v) CFO of Poseidon What are the main issues/allegations? (i) Is fraud being committed by any or all of the following: a. Sending the Telerate page that grosses up for withholding tax‚ but withholding tax does not apply to cross currency swaps b. Convincing the CFO of Poseidon that the deal needs to remain secret and not shopped to other competitors so as to not “move the market” ahead of the trade. c. Telling the CFO of Poseidon that the profit
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PRODUCTION VARIANCE REPORT Background On completion of the first full inventory count for March 2013‚ ACL Production incurred a variance of TTD 277 k. The reasons for these variances included:- Bulk Paint not consumed Usage not recorded Normal Loss (Evaporation/Clingage) Drum Shortage Packaging use not recorded Multiple report as Finished Not defined These variances were not taken to book until a clear understanding of why it occurred was realized. As a consequence of the above‚ it was
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Chesapeake Petroleum & Supply Inc. operates as a distributor of automotive lubricants and other related products in the Mid-Atlantic region. It offers bulk and packaged oils‚ filters‚ anti-freezes‚ wiping materials‚ lubrication equipment‚ refrigerants‚ disposable wipers and absorbent pads‚ sealants‚ wiper blades‚ reconditioning and car wash chemicals‚ floor mats and seat covers‚ aerosols‚ ECP protective coatings‚ wheel weights‚ hydraulic fluids‚ and diesel fuel supplements (Company Overview). The
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States. After operating as a private company for six years‚ Eco went public in 2009 and is listed on the Nasdaq Stock Exchange. As the chief financial officer of a young company with lots of investment opportunities‚ Eco’s CFO closely monitor the firm’s cost of capital. The CFO keeps tabs on each of the individual costs of Eco’s three main financing sources: long-term debt‚ preferred stock‚ and common stock. The target capital structure for Eco is given by the weights in the following table: Source
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COMMERCE 393/BUSI 393 FINAL EXAMINATION QUESTION #1 Giovanni and Leporello decided to go into business together under the name of “Great Adventures Unlimited” (GAU). They wanted to provide guided adventure vacations for rich clients. Leporello was very experienced in providing such adventures‚ and Giovanni was looking for investment opportunities. Giovanni contributed $50‚000 to the start up costs and Leporello contributed $25‚000. They set up a bank account in the name of Great Adventures
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MINUTES OF MEETING HELD ON 11 JULY 2012 LDRT OFFICE 5-26 @ 10am |ITEM |DISCUSSION |RESOLUTION |RESPONSIBILITY |DUE DATE | |1. Opening and Welcome |Mr Mkhabela officially opened the meeting and welcomed all present. |Noted |All |None
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resources please visit www.AntiFraudCollaboration.org. © Copyright 2013 Jack Brennahan had his dream job. He had always wanted to head a manufacturing company and five years earlier he received that opportunity at Hollate when he was promoted from the CFO position. He enjoyed the work‚ the exciting environment he had helped create‚ and the people around him. As CEO‚ however‚ Brennahan understood that the buck stopped with him. He took his responsibilities seriously both in running a successful business
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21st century is the century of technology‚ and spreadsheet is one of the great technological inventions that greatly improve working efficiency. Spreadsheet is a computer application with functions that can improve the user’s productivity in collecting‚ analyzing‚ and sharing tabular data sets. It displays multiple cells usually in a two-dimensional matrix or grid making up of rows and columns. Each cell contains alphanumeric text‚ numeric values‚ or formulas (Wikipedia‚ 2011). Bagranoff (2010) thought
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Phar-Mor. Incentives/Pressures Annual reoccurring losses due to small margins put pressure on the CFO and controller to divide the overall loss incurred by Phar-Mor upon each of the individual stores‚ making the dollar amount of loss per store appear much less material than the millions actually incurred. Phar-Mor’s threat of facing bankruptcy was an incentive for the president‚ CFO‚ accounting manager and controller to find ways to “cook the books”‚ such as overstating the price of inventory
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