States. After thriving in a multi-million dollar business they were forced to close their doors. The reason were practices unethical and fraudulent activities which lead to exposing the business. WorldCom was one of the largest accounting fraud scandals in corporate history. WorldCom had to file for bankruptcy after the organization admitted to accounting fraud. How this came up was a long and drawn out investigation. In the financial statements determined that the auditor was right about that the
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document contains ETH 376 Week 4 Individual Assignment Legality and Ethicality of Corporate Governance General Questions - General General Questions Resource: Case 3-3‚ United Thermostatic Controls in Ch. 3 of Ethical Obligations and Decision Making in Accounting Determine the legality of the activities based on federal‚ state‚ and local laws. Determine the criteria by which Sarbanes-Oxley would apply to this case. Determine the ethicality of the activities. Consider
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Legality and Ethicality of Corporate Governance The United Thermostatic Controls Company is a publicly owned company that manufactures and markets residential and commercial thermostats. As a publicly owned corporation‚ United Thermostatic Controls mutual stocks be listed and traded on the New York Stock Exchange. Frank Campbell is the director of the Southern sales division; however the Southern sales regional economics getting worse‚ the pressure to achieve sales revenue targets has created
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United Thermostatic Controls ETH 376 June 25‚ 2012 Susan Paris United Thermostatic Controls This paper will show the legality of the activities that happened within United Thermostatic Controls based on federal‚ state‚ and local laws. As this case is examined the Sarbanes-Oxley act will be discussed as it played a role in this case because United is a publicly owned company. Also this paper will show the ethicality‚ if the activities were equitable to internal and external stakeholders
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Legality and Ethicality of Financial Reporting Accounting professionals consider standard practices of accounting and board of accountancy rules when creating ethical standards. Accountants also consider state and federal laws. Ethics and the law works hand-in-hand therefore should be on the minds of those considering the commission of fraud. The Chief Financial Officer (CFO) of Excello‚ Terry Reed‚ was considering doing such by posting a $2.1 million transaction to raise year-end earnings.
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Associates to decide that the accounting activities indicate that there are or are not material misstatements compared to the financial report in the fiscal year and risk assessment problems in regarding the internal control methods are sufficient. Forevermore‚ the fact that Green was not provided the chance to review internal controls. Green cannot be able to execute a full audit in accordance with GAAS. As of GAAS‚ Green and associates is required to report the accounting activities with reporting their
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reporting purposes in the period of sale. The installment period is 3 years; one-third of the sale price is collected in 2012 and the rest in 2013. The tax rate was 35% in 2012‚ and 30% in 2013 and 30% in 2014. The accounting and tax data is shown below. Financial Accounting Tax Return 2012 (40% tax rate) Income before temporary difference $ 175‚000 $ 175‚000 Temporary difference $ 75‚000 $
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In this pack of ETH 316 Week 4 Discussion Question 2 you will find the next information: Identify an organization with which you are familiar. What are some factors in this organization that might affect the strategies they take in developing their socially responsible efforts? What are some of these efforts? Your answer should be between 100-150 words General Questions - General General Questions ETH 316 Week 4 DQ2 Not all organizations have moved to develop socially responsible
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This work of ETH 316 Week 3 Discussion Question 2 shows the solutions to the following problems: Consider an organization where you work‚ or one with which you are familiar. What is an issue within the organization that could benefit from applying ethical principles? How can these principles be used? Your answer should be between 100-150 words General Questions - General General Questions ETH 316 Week 3 DQ2 XYZ School District is having budget issues and is facing the possibility
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This work of ETH 125 Week 4 Discussion Question 2 includes: Do you think perceptions of American Muslims and Muslims in general have changed since 9/11? If yes‚ are these changes justified? Why? If not‚ why do you believe they have not changed? General Questions - General General Questions Week 4 DQ2 Do you think perceptions of American Muslims and Muslims in general have changed since 9/11? If yes‚ are these changes justified? Why? If not‚ why do you believe they have not changed
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