Living By Numbers-Value Creation Or Profit? Case Summary This case basically explains about MarineCorp Sdn Bhd leads by Hafiz Hashim who has position as a Chief Financial Officer (CFO) in MarineCorp. It is also a subsidiary of SURIA. MarineCorp is a maritime solution provider for its SURIA and have two subsidiaries which are Green Port Sdn Bhd and Sungai Emas Sdn Bhd. MarineCorp has their responsibility in manage and conducting both subsidiaries. The financial statements of the three companies
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consists of twelve members‚ which divided to four executive members and eight independent non-executive members. Two out of four executive members are also the part of the family company founder‚ both hold a significant roles which are the CEO and CFO of Ignition’s parent company. The shares of the company‚ can be assumed divided into two main part. First‚ the majority shares are hold by the family member of Ignition’s founders‚ and this shares are followed by special voting rights. Second‚ the minority
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provide services such as Book keeping‚ financial information system design/implementation‚ internal audit‚ actuarial ‚ valuation‚ investment adviser‚ expert srervices unrelated to audit etc. – we still do not have any such prohibition 2.SECTION 302- CEO/CFO CERTIFICATION OF FINANCIAL STATEMENTS and review of internal control system and its deficiencies This requirement has been incorporated in clause 49 but an important requirement i.e. evaluation of the effectiveness of internal control systems as
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Issues December 16‚ 2008: Satyam board approved a 51% stake acquisition of Maytas Infra‚ a listed company in the Bombay Stock Exchange for US$1.3 billion and 100% stake in unlisted firm Maytas Properties for US$300 million. Both of these firms were in the construction and real estate business and Satyam’s chairman‚ Ramalinga Raju family held a 36% stake in Mayta’s Infra and 35% stake in Maytas Properties. Implication: The deal was seen as a way of diverting cash from Satyam’s shareholder to Satyam’s
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The Unqualified Auditor’s Report: A Study of User Perceptions‚ Effects on User Decisions and Decision Processes‚ and Directions for Future Research A Summary Report to be discussed at the Accounting Research Forum Leventhal School of Accounting University of Southern California April 17‚ 2009 Theodore J. Mock. University of California‚ Riverside‚ and University of Maastricht Jerry L. Turner‚ The University of Memphis Glen L. Gray California State University‚ Northridge
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Government Regulation Research Paper 1 John Smith Introduction Government regulation is around us everywhere. The government needs to make sure that the public’s interests are maintained and preserved. Being an accounting student‚ I have heard and read about regulation in the accounting industry numerous times. There have been many major accounting scandals in history that have lead to many different kinds of government regulation. The government regulations in accounting are mostly enacted
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Week 2: Assignment from the Textbook Ex. 20.1 Listed below are nine technical accounting terms introduced in this chapter: Variable costs Relevant range Contribution margin Break-even point Fixed costs Semivariable costs Economies of scale Sales mix Unit contribution margin Each of the following statements may (or may not) describe one of these technical terms. For each statement‚ indicate the accounting
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Name of University Name of Professor Name of Student Critical Thinking Effects of Outsourcing Outsourcing is defined as a practice used by different companies to reduce costs by transferring portions of work to outside suppliers rather than completing it internally. It is an effective cost-saving strategy when used properly. Loss of Managerial Control When you sign a contract to have another company perform the function of the entire
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The many temptations of life bring people to act differently through personality changes. The characters in Sir Gawain the Green Knight change their personalities through temptation. Through the Christmas time‚ Bertilak‚ king of the castle‚ decides to go hunting. While he is hunting‚ his wife is hunting or seducing Gawain. Men tempted with sex by women often act with certain animalistic instincts; in Sir Gawain and the Green Knight by the Pearl Poet‚ the seduction scene leads Gawain to act upon his
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About Wellington The Village of Wellington is one of the most beautiful and well-crafted communities in Palm Beach County. Home to more than 56‚000 people‚ Wellington is one of South Florida’s premier communities and is known for its park-like atmosphere‚ wonderful schools‚ beautiful neighborhoods‚ and equestrian amenities. Located along the western-most portion of the Palm Beach stain‚ the Village of Wellington shares a scenic south-western territory with the famed waters of the Florida Everglades
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