Is it greed or simply ignorance which caused the Enron Scandal? Enron once was known as "America’s Most Innovative Company" and as of today‚ known as one of the most popular business bankruptcies and failures. Enron appeared to be doing really well‚ producing a lot of cash and new businesses‚ in October of 2001 that all changed. Enron reported a $618 million third-quarter loss and declares a $1.01 billion non-recurring charge against its balance sheet. Partially related to "structured finance" operations
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Proactive Fraud Auditing End of Chapter 4 in Albrecht FRAUD DETECTION Recognizing the Symptoms of Fraud Identify Risk Exposures Proactively Look for Symptoms & Exposures 1 2 Actg 537 Identify Fraud Symptoms for Each Exposure 3 4 Investigate Identified Symptoms Symptoms of Fraud What are some irregularities in source documents to look for? Missing Documents Payee Names & Addresses = Employee “Stale Items” on Bank Items” Reconciliation Excessive Voids or Credits
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The Columbia Space Shuttle disintegrated during its return to earth on February 1‚ 2003. The crew of seven astronauts died that day. As a result‚ the Columbia Accident Investigation Board (CAIB) was created to investigate the cause of the tragic accident. The exact cause of the of the accident was that the a piece of the foam insulating material from the external tank broke free and struck the leading edge of the shuttle’s wing which damaged the heat shielding panels. The impact allowed super-heated
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History 3 a. Formation 3 b. Operations 3 c. The Success 4 d. All that glitters is not gold 4 e. The Fraud 4 3. Products 5 4. Enron Scandal – The Company Fraud 8 f. What Happed? 8 5. Techniques used in the Company Fraud 9 g. Revenue Recognition 9 h. Mark-to-market accounting 9 i. Special Purpose Entities 10 j. Executive Compensation 11
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The Adelphia Scandal The Dawn of Adelphia Adelphia was founded in 1952 by John Rigas and his brother Gus Rigas in Coudersport‚ Pennsylvania with the purchase of their first cable franchise for $300. After 20 years‚ the Rigas brothers incorporated their company under the name Adelphia which derived its name from a Greek word which means brothers‚ an apt corporate title for a business that would employ generations of the Rigas family. Adelphia was a cable television company and built its success
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Phase 2 Planning Due: 18 May 2013 Required: Given the details established in phase 1 (Instigation) and further details below you are required to prepare a 1-2 page document stating your investigative hypothesis and then deduce your strategy for proving/denying your hypothesis. Your deduction should include a table with three columns stating the information you propose to review‚ where the data would be found and what you are specifically looking for in analysing the data. Information – what
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TAYLOR’S COLLEGE AMERICAN DEGREE PROGRAM FALL 2012 SEMESTER ACCT 201 – TEST 1 QUESTION 1 (10 marks) Identify by letter the assumption or characteristic of information that best represents the situation given. (One mark for each matching) A. Corporate governance F. Liabilities B. Going concern concept G. Financial Accounting Information. C. Reliability (Objectivity) Principle H. Generally accepted accounting principles D. Stable-dollar
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then declares bankruptcy or vanishes and the money is gone. The borrower may even be a non-existent entity and the loan merely an artifice to conceal a theft of a large sum of money from the bank. This can also be seen as a component within mortgage fraud. However‚ it is being assumed that Hallmark has embezzled an awesome amount of TK 300-400 billion through fake and factious documents from a particular branch of Sonali Bank at Ruposhi Bangla Hotel. Ruposhi Bangla Hotel branch of Sonali Bank responsible
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Partial Fulfillment of the Requirements for IT-224 Database Management System I “Mp4” Michael Peña John Renzo Verano James Lantaca Cristian Jimenez Kristian Angelo Magnaye Prof. Carlo Petinglay I. Company Profile Columbia Computer Center Davao‚ Inc.‚ one of the pioneers in the computer industry of Davao City‚ Started its operation in 1982 as a video center. Due to a promising opportunity in the computer business‚ investment in this industry was also tried and later
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business of Colombia and raise the living standards of the growers. Since 1960 this organization has accomplished an effective marketing strategy through a well-known copyrighted logo‚ but there are new challenges right in front of them. Café de Columbia needs to reformulate their marketing and corporate strategy in order to maintain their current market share as well as increase the perceived image of their brand in the eyes of the US consumers. The available resources for advertising have dropped
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