WorldCom Critical Thinking Case Study Not only did WorldCom’s organizational culture contributed to the accounting breaches‚ in my opinion it was the catalyst to its ultimate demise in July 2002. Richard Thornburgh stated that “WorldCom could not have failed as a result of the actions of a limited number of individuals. Rather‚ there was a broad breakdown of the system of internal controls‚ corporate governance and individual responsibility‚ all of which worked together to create a culture in
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Universal Circuits Inc. Case Study Finance 405 After receiving a telex from the Controller of the Irish plant‚ who is an integral employee at Universal Circuits‚ we had to make a tough decision regarding his request to hedge against the US dollar depreciating. If the US dollar depreciates‚ manufacturing would be shifted from his Irish plant to the US plants‚ which in turn would negatively affect his potential bonus. We acknowledge this risk
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CASE 2.3 Happiness Express‚ Inc. 1. Identify the primary audit objectives that auditors hope to accomplish by (a) confirming a client’s year-end accounts receivable (b) performing year-end sales cut-off tests. The primary audit objectives that the auditors hope to accomplish by confirming a client’s year-end accounts receivable are existence‚ completeness‚ and valuation. By using confirmations‚ the auditors are hoping that the third party would confirm or deny the stated amount‚ or add additional
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THOMAS R. PIPER HEIDE ABELLI Monmouth‚ Inc. Harry Vincent‚ executive vice president of Monmouth‚ Inc.‚ was reviewing acquisition candidates for his company’s diversification program. One of the companies‚ Robertson Tool Company‚ had been approached by Monmouth three years earlier but had rejected all overtures. Now‚ however‚ Robertson was in the middle of a takeover fight that might provide Monmouth with a chance to gain control. Monmouth‚ Inc. Monmouth was a leading producer of engines
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De Havilland Inc. Case Report Date of submission: February 2‚ 2010 Executive Summary: Marton’s suitability as a Vendor for De Havilland must first prove that its proposal is realistic in price and does not lack any important elements to efficiently supply the flap shrouds and equipment bay doors to De Havilland. Once that is clarified‚ De Havilland must ensure that Marton’s is a viable entity that can perform its duties on a long term basis‚ provide the necessary warranties and guarantees
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1. Discuss the most salient points in the evolution of Nypro‚ Inc. and relate this to the company’s future goals. Do you see any barriers or inconsistencies? It is important first to understand the direction that the company wishes to undertake before identifying the more salient points in the evolution of Nypro‚ Inc. The company aims to maintain a sustainable growth in profits and revenues. It also aims to "enhance its customer focus and serviceability by being the customer’s local source for customer
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2014)The money borrowed earns interest as agreed between the lender and the borrower. Equity financing‚ on the other hand‚ involves the selling of shares to investors as a means of raising capital for the business. (Palermo‚ 2014) Competition Bikes Inc.‚ therefore‚ has two options to finance its operations. As found earlier under the best alternative to financing working capital‚ Competition Bikes has one best option of raising the money. This is the use of 50% preferred
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Denver Limousine Inc. has built a tradition of having the reputation as the leading Limousine service in the Denver area and other places throughout Colorado. Denver Limousine Inc. is a locally owned and operated business. Whatever the occasion‚ let us enhance your experience and show you the luxurious side that life has to offer. Since day one we have made it an importance to always be in touch with out clients and passengers‚ especially when it comes to their needs. For us there is no job that
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Notes on this assignment (Problem P19-11) • While this company is an “Inc.” and is a private company in Canada‚ it is part of a multinational group and would therefore comply with IFRS. (Ref: requirement e) • The rate of compensation increase of 3.5%‚ while interesting‚ is not needed in these calculations as it would have been one of many assumptions used by the actuary would have applied in developing the current service cost‚ which is provided. • Both the EPFE (amortize past
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1. List what you believe should have been the three to five key internal control objectives of Goodner’s Huntington sales office. The Goodner Brothers‚ Inc. case is an example of when company profits derived from management’s culture facilitated weak internal controls which allowed employees to commit serious fraud. "Goodner’s’ executives preached one dominant theme to their sales staff "volume‚ volume‚ volume." The Goodner Company in an effort to undercut its cut back on operating expenses
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