Excello Telecommunication Donna Snead ETH/376 Susan Paris Monday 23‚ 2015 Excello Telecommunication had seen many years of profitable sales. But‚ then in 2010 Excello had seen a drop of sales due to competition of their product by overseas manufactures. With all the years that this company had been in business they were now faced with the fact that their earnings estimates were not going to be met. There were many executive managers that were worried about the kind of effect this would have on
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Excello Telecommunications has been a profitable company and because of increasing competition they have realized that their earnings that were estimated will not be met. Management is now worried how this will affect the company’s future with investors. A big sale has been made right at the end of the year and this sale could be the difference in making or breaking the company. The problem is that the buyer cannot purchase the items until right after the end of the year which will not then be reported
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As the case of Excello Telecommunications is reviewed it can be seen that the CFO was facing financial difficulties due to increased competition. In 2010 the earnings estimate was not going to be met and this would have affected the bonuses‚ stock options‚ and the share prices of the Excello stocks. After discovering a large sale that was pending until the shipment could be made for the following year the CFO asked the company controller to find a way to capitalize on the sale in the current year
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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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The Excello Telecommunication has been a very successful business until shortly there were some issues with the competition within the companies industry. The CFO of the Excello Telecommunication is Terry Reed‚ who has realized that the business will be short on the earnings this year. With this going on will cause problems with the financial responsibility toward the stakeholders. Mr. Reed located a transaction within the business that will work for the businesses financial responsibility‚ but with
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considering legal and ethical issues in financial reporting. Accounting industry professionals consider standard practices of accounting‚ and board of accountancy rules when creating ethics standards. Important‚ they also consider state‚ and federal laws. Ethics and the law work hand-in-hand‚ and therefore should be at the forefront of the minds of those pondering the commission of fraud as exhibited in the Excello Telecommunications case (hereinafter referred to as Excello). In this case‚ the Chief
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UNISA CENTRE FOR BUSINESS MANAGEMENT PROGRAMME IN PURCHASING AND SUPPLY MANAGEMENT STUDY GUIDE FOR LEGAL ASPECTS OF PURCHASING PPSM049 © 2008 University of South Africa All rights reserved University of South Africa Muckleneuk Pretoria Original: Ms I Fourie Revised by: Ms Rene Swart Assisted by: Prof JA Badenhorst LEGAL ASPECTS OF PURCHASING STUDY UNIT 1 1.1 1.2 1.3 General principles of the law of contract p1 Introduction General principles of the law of contract Requirements
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Legal Aspect of Healthcare 01/26/12 Notes Tort Law- Private law p.32 Civil wrong- automobile accident Medical malpractice. Why are you able to sue? 1.The preservation of the peace. 2.Copability define fault 3. Detorance. 4. Compensation- to give money to the other party. Three categoteis of tort law 1. Neglegance 2. Intentional 3. Strict product liability Standard of care froms 1. malfeasance 2. misfeance 3. nomfeance degrees ordinary gross negligence-
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LEGAL ASPECTS OF COPYRIGHT SUBMITTED TO : SUBMITTED BY : Dr. MANEESH YADAV ASHWINI KUMAR (JL12FS13) INTRODUCTION The Copyright Act‚ 1957(14 of 1957) governs the laws & applicable rules related to the subject of copyrights in India. Copyright Law in the country was governed by the Copyright Act of 1914‚ was essentially the extension of the British Copyright Act‚ 1911 to India ‚ and borrowed extensively from the new Copyright Act of the United Kingdom of 1956. All copyright related laws are
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LEGAL ISSUES INVOLVED IN VARIOUS FORMS OF BUSINESS ORGANISATIONS:- * SOLE PROPRIETORSHIP In India to establish a sole proprietorship there is no need of filing any legal documents with the Indian state government. There are four simple steps that should be taken: 1. Choose a business name. 2. File an assumed business name with the county recorder. 3. Obtain licenses‚ permits‚ and zoning clearance. 4. Obtain an Employer Identification Number. To establish a sole proprietorship
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