accounting control of MiniScribe‚ specifically the reasons for its ineffectiveness in preventing fraudulent financial reports. Internal accounting control is crucial to internal control in a company. Accounting control is the methods and procedures for authorizing transactions‚ safeguarding assets and ensuring the accuracy of the financial records. I think the most important reasons of the totally failure of internal control to prevent fraudulent financial reports in MiniScribe Corporation was the autocracy
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A Case Study on MiniScribe Corporation for BA 219 - Corporate Financial Reporting Submitted to: Dr. Helen S. Valderrama by ARELLANO‚ Alyssa Loren ASADON‚ Rovin Vincent BLANCO‚ Melissa CHU‚ Goodwealth DE GUZMAN‚ Cla PRELLIGERA‚ Chriss Jan July 9‚ 2013 Master in Business Administration University of the Philippines Diliman‚ Quezon City EXECUTIVE SUMMARY In October 1988‚ Paula Perry‚ a research analyst for the brokerage firm Alexander and Ferris‚ was tasked to analyse
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From my point of view‚ accounting practices that MINISCRIBE used to fabricate the number in the financial statements can be divided into two aspects. One is about how to increase the NET INCOME and the other is about how to decrease EXPENSE. a) NET INCOME We know from the news that Mr. Wiles’s unrealistic sales targets and abusive management style created a pressure cooker that drove managers to cook the books or perish. And look they did -- booking shipments as sales‚ manipulating reserves and
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A CASE STUDY ON MINISCRIBE CORPORATION July 6‚ 2012 EXECUTIVE SUMMARY The case subject revolves around MiniScribe‚ a manufacturer of disk storage products that is under the watch list for rumors directed to the firm’s problems with cash flow and inventory. The objective of the report is to come up with a BUY OR DON’T BUY recommendation for Alexander & Ferris using the available financial and qualitative information. The analysis was conducted by deriving additional information from
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Fraud Examination Executive Summary: Miniscribe By Samantha Altieri‚ Zac Biesiada‚ Dan Cohen‚ and Tim Foley BACC 552 Miniscribe was a computer disk drive manufacturing company that was founded in 1981 by Terry Johnson. The company was initially run out of basement of Mr. Johnson’s home in Longmont‚ Colorado. Shortly after becoming a publicly traded company in 1983‚ Miniscribe began to experience financial losses. (United States v. Patrick J. Schleibaum) In 1985 the venture capital firm
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Sales at Miniscribe Corp. grew from just over $5 million in 1982 to approximately $114 million in its fiscal year ended in 1985. The 1986 and 1987 annual reports talked enthusiastically about new manufacturing initiatives. MiniScribe’s success continued well into the first half of 1988‚ when the company seemed to be the only disk drive manufacturer in the industry to buck another slump. The improved financial results of the company were mostly fabricated‚ including fictitious shipments to boost
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Question 1: Construct 1988 Statements of Cash Flow for MiniScribe.（assume that 1988 depreciation expense is $6） Table 1: Statement of Cash Flow of MiniScribe of 1988 and 1987 1988 1987 Statement of Cash Flows Cash Flows from Operating Activities Net Income 26.00 31.00 Non-Cash Adjustments 6.00 11.00 Changes in Assets and Liabilitites Related to Operations Change in Accounts Receivable (116.00) (17.00) Change in Inventory (56.00) (39.00) Change in Account Payable 143
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RUNNING HEAD: DOWNFALL OF HOSTESS BRANDS Abstract The following text explores the company made famous by the “Twinkie‚” Hostess Brands. During the last quarter of 2012‚ in the midst of an intense negotiation between the company’s constituents and sponsors to lower the cost of operations‚ one of the largest labor unions refused to renegotiate labor contracts‚ which caused Hostess Brands to declare bankruptcy. Along with the bankruptcy‚ the court ordered the winding down of all Hostess Brands operations
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How dies Williams create a sense of inevitability about Blanches downfall? Williams uses a range of techniques to foreshadow the downfall of Blanche‚ including symbolism‚ use of language techniques‚ imagery and stage direction. Imagery such as the ’Blue piano’ are used to the same effect throughout the play‚ to build tension and create a sense of inevitability and fate‚ even though the play is developing‚ the blue piano is always playing. It is a fixed point‚ as is Blanche’s fate
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and the influencing of them by Lady Macbeth. Although the witch sisters and Lady Macbeth lead the downfall of Macbeth‚ one can also insist that Macbeth himself is responsible for all the actions he will make. If Macbeth’s confidence level does not boost up as much‚ than he will continue to be the loyal‚ noble man that he is. In The Tragedy of Macbeth‚ the witches have a huge impact on the downfall of Macbeth. The three evil sisters actually plan it; their prophecies are the framework of his atrophy
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