Shari Bratcher Week 7 – CheckPoint - Briefly Applying a Decision-Making Framework Anne Distagne‚ the CEO of Linkage Construction‚ Inc. is the involved stakeholder in this case. She was the person involved in the decision-making process of falsifying information to keep from displaying the significant increase in profit. There are several ethical issues involved. The first issue is Anne’s demeanor toward the accountant Sue. Anne used her superiority with Sue as a threat so that Sue can revise
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This video chronicles the legal proceedings of the Abacus Federal Savings Bank located in China Town. Moreover‚ the documentary shows this family-operated bank in the process of an indictment to trial to verdict. As the only bank indicted on mortgage fraud during the 2008 housing crisis‚ Abacus’s noteworthy trial bears economic significance. The founder of Abacus‚ formally a lawyer‚ began banking for residents of china town who could not obtain credit otherwise. Complications originated for Abacus
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1. Define the problem(s) Enron failed to record some of its transactions. Arthur Andersen did not allow the LJM financial statement to stay unconsolidated. 2. Analyze the situation - again‚ take a "lessons learned" approach. You might use the following questions as guides: A. What important internal controls were ignored when LJM1 was created? LJM1 ignored some of Enron’s entries in the books that were missing. Outsiders owned less than 3% of the Special Purpose Entities equities. There was
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In the book “A Little History of The United States”‚ James West Davidson analyzes and describes how George Washington and the Continental Army declared the independence of the thirteen colonies from Britain despite holding a lack of authority. In subsequence to the French and Indian War‚ Britain began imposing significant laws and restrictions on the people of the thirteen colonies such as the Stamp Act and the Intolerable Acts; these consequences would lead to a war that defines the power of leadership
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for WorldCom‚ Gene Morse also a WorldCom employee discovered $3.8 billion in expenses that were allocated incorrectly on WorldCom’s financial statements. This is what made Cooper and Morse to suspect that the multi-million dollar corporation was falsifying the financial statements. Securities and Exchange Commission filed a civil action yesterday in federal district court in New York charging major global communications provider WorldCom‚ Inc. with a massive accounting fraud totaling more than $3
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James P. DeBiasi committed marketing scheme by falsifying audit records. Mr. DeBiasi broke many violations of the rules set forth by the American Institute of CPA’s and the Massachusetts Society of CPAs’ Codes of Professional Conduct. It is alleged that Mr. DeBiasi violated codes in the audit of the financial statements for an employee benefit plan as of and for the year ended December 31‚ 2011. He is in violation of rules 202‚ 203‚ and 501 and in codes of the due care and integrity principles as
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months before the company’s financial implosion. But the Enron debacle has‚ as the Houston Chronicle put it‚ "all the earmarks of classic tragic drama in which hubris causes the fall of the mighty‚" (Ivanovich‚ 2002) and‚ Mr. Skilling’s sworn testimony to the contrary‚ the decisive role that Skilling and the company’s other top executives played in the bankruptcy of this $63 billion company now seems incontrovertible. Indeed‚ from the point of view that the business culture at Enron contributed
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reporting accurately. Management Accounting is a system using financial accounting records as basic data to enable better business planning decisions. Financial management works closely with the company’s management to rely financial information. Falsifying financial records can cause the organization to lose accreditation as well. It is important that organizations report financial accounting performance fairly and factually to ensure that the organization is performing and operating within
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conspiracy‚ falsifying documents‚ and embezzlement. WorldCom has been classified as being “one of the biggest corporate scandals in Unites States history” (Zekany‚ 2004‚ p. 101). In 2001‚ the company’s financial condition began to decline due to the slowing telecommunications industry‚ which eventually put pressure on the company’s executive officers to increase profits (Jonesington‚ 2007‚ p. 1). Unfortunately‚ the executive officers made decisions to commit accounting fraud by falsifying documents
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getting the answers from another person. But because parts of the work being turned in might not be the person’s own work and academic dishonesty is defined as representing someone else’s work as your own. Another common form of academic dishonesty is falsifying lab results. Students attempting to speed up the experimental process or made a mistake often falsify the results by either looking at the results of others or fabricate results based on the expected outcome. All of these forms of academic dishonesty
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