Homework Week 2 Exercise E1-1 SEC – K Audit – G Sole Proprietorship – I Corporation – E Accounting – A Accounting Entity – D Audit Report – J Cost Principle – F Partnership – C FASB – L IASB – H Unit of Measure – B GAAP – N IFRS – M E1-2 Accounts receivable – Asset Cash and cash equivalents – Asset Net sales – Revenue Notes payable – Liability Taxes payable – Liability Retained earnings – Stockholders’ Equity Cost of products sold – Expense Marketing‚ administrative
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in a kickback scheme. Furious US creditors file a $10bn class action suit against Parmalat’s former auditors and bankers while Parmalat’s administrators under replacement chief executive Enrico Bondi separately sue Bank of America‚ Citigroup‚ Deloitte & Touche and Grant Thornton for $10bn each. The US SEC calls the
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org/resource/federal-sentencing-guidelines>. "The Time has Come‚ the Walrus Said…." ABA Business Section Spring Meeting‚ 04/04/2003. Web. 4 May 2011. <http://apps.americanbar.org/buslaw/newsletter/0013/materials/aftermath.pdf>. "Ethics and Compliance." Deloitte & Touche LLP ’s‚ Deloitte Consulting LLP ’s (2005): n. pag. Web. 4 May 2011. <http://www.deloitte.com/assets/Dcom-UnitedStates/Local%20Assets/Documents/us_assurance_ethicsandcompliance_112408%20.pdf>. "How to create an effective ethics and compliance
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Just for Feet‚ Case Study Just for Feet‚ Case Study 1. Balance Sheets Just for FEET‚ Inc. | Balance Sheet | Years ending Jan 31st | | | | Current Assets: 1996 1997 1998 | Cash & Equivalents | 36.93% | 18.40% | 1.80% | Marketable Securities AFS | 9.04% | 0.00% | 0.00% | Accounts Receivable | 1.74% | 3.53% | 2.74% | Inventory | 35.47% | 45.97% | 58.01% | Other Current Assets | 0.56% | 1.50% | 2.65% | Total Current Assets | 83.75% | 69.40% | 65
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Parmalat‚ Europe’s Enron of fraud‚ undermined European accounting and reporting standards. The fraud‚ totaling nearly 18 billion euros‚ brought down the Italian dairy giant and ruined investors across the globe. Such a enormous fraud‚ some would assume‚ would need to be highly complex and fully developed in plan as well as execution. However‚ as Parmalat executives began to cooperate in the investigation‚ it was uncovered how rudimentary their fraud was despite the enormity in which it occurred.
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Ge Lin Mini Case1 Something Went Sour at Parmalat Discussion Questions: Question 1 (1)When confirming cash balances held on deposits‚ the auditor should list as the “balance per bank” on the top of the bank reconciliation for each bank account from each bank that the client utilizes in the business. And a confirmation letter is to be sent by the auditor and received in the mail directly back from each bank at offices of the public accounting rim. (2)The auditor should observe the opening of the
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“IT doesn’t matter‚” HBR AT Large‚ May‚ 2003‚ pp. 41-49. Citigroup Annual Report‚ Citigroup‚ 1997 – 2006. Citigroup Diversity Report‚ Citigroup‚ 1997-2006. Deloitte Global Financial Services Offshoring: Scaling the Heights‚ Deloitte Touche Tohmatsu‚ 2005. Deloitte Global Banking Industry Outlook: Issues on the Horizon 2007‚ Deloitte Touche Tohmatsu‚ 2007. Eckenrode‚ J. “2007 Bank Technology Forecast: Challenges and Opportunities‚” Bank Systems and Technology‚ 1st February 2007. HSBC “HSBC Holdings
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Gazprom and Itera: A Case Study in Russian Corporate Misgovernance "I’m going to tell you a war story-my war story‚" opened Browder. " It’s one that involves Gazprom‚ Itera‚ and PricewaterhouseCoopers. But I’m not a diplomat so this won’t be diplomatic‚" he cautioned. As an investor‚ he says he looks to find companies whose stock is cheap‚ and Gazprom is "by far the cheapest oil and gas company in the world‚" if one divides the value of the company by its total reserves. Because the market discounts
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Tasks: 1. identify how computers enabled the situation/person 2. In foresight‚ were the proper controls in place 3. in hindsight‚ what should have happened or could have been done to stop the situation 4. If there were proper or sufficient controls‚ what went wrong? Paramalat: Summary: “In December 2003‚ Italian prosecutors launched an investigation into suspected fraud at global food group Parmalat after it revealed a gaping hole in its accounts. The company‚ known around the world
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factors that could affect employees’ work life balance in one of the Big Four accounting firms – Deloitte Macau. Both questionnaire surveys (n=31) and interviews (across two management level) have been conducted and reveal convergent outcomes. Recommendations have been provided to further improve the work-life balance in Deloitte Macau. Table of Contents Introduction 5 Introduction of Deloitte Macau 5 Definition of Work-life balance 6 Focus among the different definition of work-life balance
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