2.1 Accounting Fraud: Mark-to-market technique: This technique of accounting introduced by Skilling (Giroux‚ 2008) revealed Enron successful in escaping losses which were associated with volatile prices of gas and inaccurate predictions. In this way‚ Enron valued long-term trading contracts at market value instead of the traditional historical cost. Mark-to-market is an accounting technique applied where developed markets for financial instruments exist and where there are obvious closing prices
Premium Enron scandal Enron
CLASSIC PEN COMPANY: DEVELOPING AN ABC MODEL REVISED PRODUCT COSTS FOR THE FOUR PENS‚ BASED ON THE ACTIVITY INFORMATION COLLECTED BY DEMPSEY Cost centres under ABC Indirect labour=$ 20‚000 40% *20‚000=8‚000 Total indirect labour=$ 28‚000 Computer expenses=$ 10‚000 Machine expenses= $ 8‚000+ $ 4‚000+ $ 2‚000=$ 14‚000 Cost estimates/allocation under ABC Activity Indirect labour Computer expenses Machine expenses Total Activity rate Handle production runs 50% 14‚000 80% 8‚000
Premium Costs Cost Profit
Internal Audit Report for ABC Company Abstract The purpose of this report is to notify the accounting department about an accounting error that was discovered in a recent audit. Because of a weak internal control system‚ an adjusting entry for prepaid insurance was not recorded for the first three months in the amount of $500 per month. This report will identify three limitations of the internal control system‚ it will identify and explain two examples of internal control procedures‚ find symptoms
Premium Internal control
College of Management Applied Managerial Accounting Summer 2013 SCM610 Instructor: Dr.Damron‚ Sandra ASSIGNMENT # 1 By : Ahmed Hassan Zahmuwl Chapter 1: 3‚ 6‚ 7‚ 18‚ 24‚ 26 1-3 List and define the four basic management activities? Planning Planning is the ongoing process of developing the business ’ mission and objectives and determining how they will be accomplished. Planning includes both the broadest view of the organization (its mission)‚ and the
Premium Costs Cost Management accounting
BBC Timeline The U.S. and Iranian conflict started more than 60 years ago. It started when the U.S. and British intelligence agencies killed the Prime Minister of Iran. The U.S. then sought them for help almost 30 years later‚ by selling them weapons‚ but Iran had a plan of their own‚ America did not receive their help. In 2002‚ Bush declared Iran as an “axis of evil‚” this angered Iran. That same year‚ it was revealed that Iran is developing nuclear facilities. During a phone call between the Presidents
Premium Nuclear weapon Cold War World War II
$35 per share A stock warrant will be profitable if the stock price exceeds the cost of warrant plus exercise price at expiration. Thus‚ in this case a warrant will be a profitable investment if shares are traded at $37 or more ($2 + $35) Hence‚ if ABC stock is getting traded at $45 per share in 10 years‚ the warrants would be worth $10 each making the return on warrant = 400% (each warrant is $2 and return = 8/2*100 = 400) However‚ is the stock is less than $25 in 10 years the warrants will have
Premium Stock market Stock Security
Robert cannot take any textbooks home for completing his homework in any core subject because his teachers do not have enough course books for everyone. In fact‚ everyone must team up to use textbooks while the teacher is lecturing. The school library does not have a librarian‚ so it is rarely open. He gets low qualified teachers because the high-quality teachers do not stay at his school‚ due to lack of resources and support. The classrooms do not include computers‚ so there is no computer instruction
Premium Education School Teacher
efficient way‚ investing in technology and reducing the number of distribution centres. The company is still getting even bigger rapidly‚ and these growth strength the bargain power over suppliers which results in lower costs. Stephen Long‚ reporter of ABC News‚ contributed with a report in 2009‚ in which Suppliers complained of how difficult is for them to negotiate with Woolworths and Coles because they represent a major percentage of all their sales. Coles is following Woolworths very closely. And
Premium Cost Logistics Supply chain
Policy: Due to the health concerns arising from exposure to environmental tobacco smoke‚ ABC Company Inc. has instituted this policy to provide a smoke-free environment for all employees and visitors. Definitions: This policy covers the smoking of any tobacco product and the use of smokeless (or spit) tobacco. Employers in the new age of technology should embrace being more flexible in offering better working conditions to their employees‚ their relaxing of the standard working environment could
Premium Management Employment Human resource management
SCM Classification: ABC/XYZ Analysis – DEMYSTIFIED Table of Contents 2 Introduction 3 3 Why ABC and XYZ only? 4 4 The ABC Analysis 5 4.1 The Details 5 4.2 The Steps 5 4.3 Limitations of ABC 6 5 REFERENCES 6 6 ABOUT AUTHOR 6 1 Introduction This is the sequel of my quest to relate management with life. The theories of Evolution of human may be “Survival of the Fittest” or “Selective Elimination of non-adaptors” applies in our day today lives too. As much as the industry focuses on revenue‚ profits
Premium Inventory Supply chain management Supply chain