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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three factors will bring any business to failure. However many times‚ leaders such as CEO’s and CFO’s are faced with difficult dilemmas that put them in question of their own ethics and values‚ such as the following case of the CFO of venture-backed tech startup‚ John and CEO Ralph. John and Ralph are faced with the dilemma of whether to commit fraud for the company’s ability to stay afloat‚ or have trouble with gaining sufficient funding in the second round‚ which could mean go bankrupt and that
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is planning to determine in which direction to take the company and what resources will be utilized to achieve the desired goal as set by management. WorldCom’s upper management was made up of Chief Executive Officer(CEO)‚ Bernard Ebbers‚ the Chief Executive Officer‚(CFO) Scott Sullivan‚ David Myers(Controller)‚ and Buford Yates( Director of General Accounting)‚ and a Broad of Directors. The way the company grew did not seem to be planned out thoughtfully from the beginning stages. The
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Introduction In a brief paragraph tell me what your firm does and what its primary products are. 1. Executive Compensation and Control From the firm’s Proxy Statements‚ compare the composition of the Board of Directors in 2011 (2012 Proxy) with 2006. What portion is “inside” versus “outside” directors? Now compare the compensation of the top executive and the top 5 between these two periods. How do they compensate their executives (i.e. regular salary‚ bonus‚ stock options‚ restricted
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SUBJECT: Accounting fraud at WorldCom Problem Statement WorldCom penetrated the largest accounting fraud in U.S history by overstating its tax income between 1999 and 2002. The main players in WorldCom’s accounting fraud included CFO Scott Sullivan‚ the General Accounting and Internal Audit departments‚ external auditor Arthur Andersen‚ and the board of directors. While individuals did have their own sins‚ employees cowardice and self-interested‚ the board passive and ineffective‚ external auditors
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gets into trouble. In periods of glory and prosperity‚ rarely anyone think about these issues. “To be sure‚ a CEO can maintain control over corporate governance only as long as companies are not demonstrably in difficulty” (Greenspan 2002). When companies run into trouble‚ existing shareholders and stakeholders will usually search for the ways to displace the board of directors and the CEO. This process raises many questions and can create hostility among participants. World’s economy has grown
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greatness. The name Enron is now synonymous with fraud; the reality is that greedy smart people created the tragedy. The film examines the fraud starting with the Enron Oil trading scandal‚ the tenure of CEO Jeff Skilling‚ the mystery of Enron executive Lou Pai‚ the hiring and tenure of Andrew Fastow as CFO‚ the California energy crises‚ and the eventual bankruptcy of Enron. During each of thesemini Enron eras the person who always loomed in the background was Kenneth Lay the man who based his career on
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TASK 1: DESCRIBE HOW THE TWO BUSINESSES ARE ORGANISED IN ORDER TO ACHIVE THEIR PURPOSE. INTRODUCTION WHAT ARE THE AIMS AND OBJECTIVES OF DELL AND THE BESPOKE CUPCAKE CO. AND WHAT MAKES THE STRATEGIC: Dell and Bespoke cupcake co. Set aims and objectives‚ so as to be able to measure their progress towards their stated goals for a particular financial term or business period. Aims indicate where the business wants to be in the future‚ whereas objectives set a clearly defined target for the
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Thinking Strategically When I reviewed BJ’s ProSports I focused mostly on the strategic thinking process in order to establish what influence it had on managerial decision-making. I also focused on influences that global competition and culture have on managerial decisions‚ because the environment changes constantly. Managerial decision-making is important when business is attempting a long-term objective for the company. I have learned that human thinking is an important part to an organization
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structural organization of Cardinal health Inc. seems to have a matrix organization. It has your standard CEO but then from there‚ there are a lot of different branches but some work together with each other. I say this because the company has a CEO who is George Barrett; he is also the chairman of the board of directors. Jeffery Henderson is the chief financial officer. Although George Barrett is the CEO of the company‚ there are also two other chief executive officers‚ one is Donald Casey who is in charge
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