annual earnings per share growth‚ and had ambitions to make Ahold one of the largest food providers in the world. In 2000‚ Ahold diversified into the wholesale food service by acquiring US Foodservice. This initiated Ahold’s problems and their fraudulent bookkeeping. US Foodservice executives manipulated vendor payments known as promotional allowances as a way to increase revenues by providing Deloitte‚ Ahold’s independent auditors‚ with false information. Ahold also fully consolidated several
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Basis for Advertising Contract: Google‚ Inc.‚ promises to offer advertising services to a customer in accordance to the terms outlined in the contract. The terms will govern the customer’s participation in Google’s advertising offerings and programs and how to remedy disputes. The provisions to be included in the contract must satisfy the criteria of a valid contract. Specifically‚ the contract must include an offer‚ an acceptance‚ consideration‚ capacity and a lawful purpose. Below‚ we attempt
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SOLUTIONS FOR MULTIPLE‑CHOICE QUESTIONS 6.24 a. Correct Risk is high when the company always estimates the inventory but never takes a complete physical count. b. Incorrect Risk is low when the petty cash box is always locked in the desk of the custodian. c. Incorrect Risk is low when management has published a company code of ethics and sends frequent communication newsletters about it. d. Incorrect Risk is low when the board of directors reviews and approves all investment transactions. 6.25
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Introduction In August 2001‚ it was discovered that the McDonald’s Monopoly game was a fraud. Simon Marketing‚ which ran the game on behalf of McDonald’s was responsible for the fraud. An investigation was initiated pursuant to a confidential tip. The investigation was led by the Federal Bureau of Investigation and dubbed Operation “Final Answer”. During the investigation to uncover the fraud‚ the FBI used several different forms of surveillance. In this paper I will describe how the actual
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WorldCom was the second largest telecommunications corporation in the United 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
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Online shopping The Internet’s popularity has dramatically escalated over the past one decade and has become an integral part of daily life. Within the next few years the potential and capabilities of the Internet are endless. “Understanding customers objectives when they visit a web site are of vital importance to assist the individual consumer effectively by offering support that is in accordance with the customers’ specific needs” (Ariely‚ 2000) With that in mind the following research will
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the business in stock exchanges and any other securities markets. • " Registering and regulating the working of collective investment schemes‚ including mutual funds is a responsibility of SEBI. • " SEBI is responsible for prohibiting fraudulent and unfair trade practices relating to securities markets. • " Prohibiting insider trading in securities‚ with the imposition of monetary penalties‚ on erring market intermediaries. • " Regulating substantial acquisition of shares and
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CASE 3 : Accounting Fraud at WolrdCom Table of Contents Introduction....................................................................................................................... 1 Question 1 .......................................................................................................................... 2 Question 2 .......................................................................................................................... 4 Question 3 ..........................
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removed and its prevention or detection methods by internal control and outside auditing have weaknesses within‚ it is highly unlikely that corporate fraudulent activities can hardly be eliminated from workplace. Nature of Corporate Fraud and its occurrences The classical fraud triangle theory categorizes three features embedded in fraudulent activities‚ namely incentive‚ opportunity and rationalization. If there is the incentive for fraudsters to commit fraud‚ the opportunity exists for them
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Bradley‚ as a co-owner and resident with Adam‚ applies for a loan of £200‚000 for a business unit on the residence. To receive this loan from Large PLC‚ Bradley signs a contract that uses the house as collateral. Due to the failure of the business‚ Large PLC seeks to obtain the house on its terms. Bradley can defend his home from Large PLC by relying on undue influence‚ misrepresentation by Carlotta‚ equitable doctrine of unconscionable bargains‚ and statutory consumer protection. Legal issues
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