The case analysis of Equity Funding Introduction The collapse of Equity Funding had a far-reaching influence on business practices and institutions. Although it happened over 30 years ago‚ the lessons from Equity Funding are still meaningful and constructive nowadays. Auditors of Equity Funding failed to collect sufficient evidence‚ check internal control and substantiate computer system. The audit premise----- understanding internal control system AUS 402.41 requires the auditor to obtain
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Matter is a poorly-defined term in science (see below). The term has often been used in reference to a substance (often a particle) that has rest mass. Matter is also used loosely as a general term for the substance that makes up all observable physical objects.[1][2] All objects we see with the naked eye are composed of atoms. This atomic matter is in turn made up of interacting subatomic particles—usually a nucleus of protons and neutrons‚ and a cloud of orbiting electrons.[3][4] Typically‚ science
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displayedProperty which is intended to construct a trust fund must be segregated from all other property‚ in order for its identity to be sufficiently certain. If this is not succeeded then the result will be found to have no certainty of subject matter and in turn the trust will fail. As found in the case Re London Wine Co. where the creditors of a wine company sought to claim that their proprietary rights in a number of bottles of wine held in the company’s cellar. They argued that their rights
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protecting each citizen. It is not only being done through these laws but also the control they have on deciding what is best for the citizens. Should the government be the ones to have the last word on what is the best for us? In the documentary‚ Free to Choose: “Who protects the Consumer?” Milton Friedman shows how the government has different type of agencies that are made to determine the money we pay for the goods and their quality. These agencies are also formed to benefit each citizen
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Equity is still very relevant today- equitable rights‚ interests‚ and remedies remain important in law today. Equitable relief introduces injunctions in labor disputes‚ partitions of real property‚ specific performance of contracts‚ reformation of contracts‚ setting aside invalid wills‚ divorces and various other matters where the court orders something to be done other than entering a judgment for money damages. Concepts such as mortgages and Trusts are founded on the idea
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common law‚ a formality among judges was developed‚ typified by a reluctance to deal with matters that were not or could not be processed in the proper form of action. In other words‚ if a person did not follow the proper procedure or done an error in the formalities‚ the person making the claim would lose the case even though that person obviously suffered a wrong. It is one of the equitable maxims that ’Equity looks to the intention and not the form’ which stands that it is fair to look at the intention
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uprise of political activism by use of social media? In his "The War on Free Speech" segment from his Fox News hour‚ Censored in America‚ John Stossel stated: “(get real quote) Young kids can have sex‚ but they cannot handle hearing something that makes them uncomfortable.” The federal government‚ as an institution that serves to protect not only its citizens but the rights of its citizens‚ cannot limit free speech. Especially free speech in the media. Putting a restriction on what people can and cannot
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A Summary about When Lightning Struck Always remember: the point is not to pay back kindness but to pass it on. When lightning struck the plane‚ the author was in the bathroom of the plane. She knew what it was. The flight waved widely and it was hard for her to sit down. As she lunged toward her seat‚ everyone was looking up at her‚ feared. A little girl beside the author seemed scared‚ for whom it was only second time on an airplane. A young businessman who had been confidently working
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1 The statement by Henry Kravis that private equity was in its “golden era” might sound like hubris to the unacquainted observer but may actually not be far off from the reality given the growth of private equity funds under management since the advent of large-scale leveraged buy-outs (LBOs) in the 1980s. Henry Kravis as a principal partner in Kohlberg‚ Kravis & Roberts (KKR) pioneered LBOs in the late 1970s and KKR has been a major private equity firm since having reportedly invested in over 160
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It is important to keep paid-in capital separate from earned capital because they are completely different numbers. The stockholders’ equity section of a corporation’s balance sheet includes paid-in capital and retained earnings. The distinction between paid-in capital and retained earnings is important from a legal and an economic point of view. Paid-in capital is the amount paid in to the corporation by stockholders in exchange for shares of ownership. Retained earnings are earned capital held
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