Week 1 Discussion Question 1 The international accounting profession has lost its way and is no longer serving the needs of different users of accounting information in a manner which is appropriate and meaningful for the global business environment of today. I respectfully disagree with the above statement. If anything‚ the accounting profession and its importance in day to day management of businesses has increased in the past decades. The information provided by company financial snapshots
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Sarbanes-Oxley Act of 2002 Prepared For Up and Coming Accountants Prepared By February 16‚ 2008 Letter of Intent February 16‚ 2008 To: Up and Coming Accountants I have written this report in order to fulfill my graduation requirements at Southwestern College. Also to become more knowledgeable on the Sarbanes-Oxley Act of 2002 (SOX) and the impact it has had on the business world. Today I am addressing you on information that can help you
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References: “Enron Scandal‚” Microsoft Encarta Online Encyclopedia 2009. http://encarta.msn.com. Copyright 1997-2009. Microsoft Corporation. Kobrak‚ Christopher (2009). Innovation Corrupted: The Origins and Legacy of Enron ’s Collapse. Business History Review‚ 83(1)‚ 173-177
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action was dangerous‚ but required president approval. This means that the government has been perfecting there technique for holding on to important information. The rights of an American citizen were established for a reason. After the Watergate scandal‚ President Gerald R. Ford put forth the effort to put the Privacy Act Amendments of 1974 into effect. Patrick Martin said that the bush administration pressured the media to cover up the adversaries of the war drive in Central Asia. It is unacceptable
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business scenarios as well as question the impact of certain ‘special’ duties/obligations that apply to particular individuals and employees who choose to engage in these activities in the organization leading to their downfall. The WorldCom case and scandal occurred because accountants as well as former CEO Bernie Ebbers and Scott Sullivan failed to live the virtues of accountancy as well as failed to adhere to the moral principles and ideals of their profession and further analysis reveals the ways
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Compute taxes owed‚ prepare tax returns. Organize and maintain financial records. Suggest ways to reduce costs‚ enhance revenues and improve profits‚ Improve businesses efficiency. Critically discuss the role of the CFO Andy Fastow in the ENRON scandal Fastow created hundreds/ of "special-purpose entities"–off balance sheet partnerships. Designed to transfer Enron’s debt to an outside company and get it off the books--without giving up control of the assets that stood behind the debt. He brought
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war Significance: • Ended with US withdrawal of troops • Failure of foreign diplomacy in Vietnam Related Events: • Anti-Vietnam protest anthems • Saigon‚ capital of South Vietnam‚ falls to communist forces Event: Watergate Scandal • Political scandals during presidency of Nixon • Began with five men breaking into Democratic National Committee Headquarters in Watergate hotel • Attempted cover up of break in Significance: • Burglary
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Things Fall Apart Essay Topic #2 Although there are numerous aspects which led to Okonkwo’s downfall; the main reason for his demise was his fear of being perceived as weak. This is true not only in Chinua Achebe’s “Things Fall Apart‚” but in modern day American society‚ as well. As Bukingham and Clifton once said‚ “For many of us our fear of our weaknesses seems to overshadow our confidence in our strengths. To use an analogy‚ if life is a game of cards and each of us has been dealt our hand of
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In 1982‚ Phar-Mor chain of discount drug stores founded by Michael “mickey” Monus and David shapira in the United States. Phar-Mor business was to sell large quantity of merchandise with a very small profits margin. Instead‚ they had it set up were the products can get send direct delivery or shipped though Tamco Warehouse. Sam Walton was feared of Monus because he didn’t know how the Phar-Mor grew in short time. In 1992‚ the company expanded‚ it was 300 stores and they hire 25‚000 employees. Monus
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which accounting standards should be issued because it disregards those made by intelligent bodies specifically in accounting and furthermore promotes inconsistency of accounting practices. Case 1-6 Accounting in Crisis A. In 2001‚ the Enron scandal unfolded. In summary the company used unethical practices which in turn led to
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