accounting control of MiniScribe‚ specifically the reasons for its ineffectiveness in preventing fraudulent financial reports. Internal accounting control is crucial to internal control in a company. Accounting control is the methods and procedures for authorizing transactions‚ safeguarding assets and ensuring the accuracy of the financial records. I think the most important reasons of the totally failure of internal control to prevent fraudulent financial reports in MiniScribe Corporation was the
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A CASE STUDY ON MINISCRIBE CORPORATION July 6‚ 2012 EXECUTIVE SUMMARY The case subject revolves around MiniScribe‚ a manufacturer of disk storage products that is under the watch list for rumors directed to the firm’s problems with cash flow and inventory. The objective of the report is to come up with a BUY OR DON’T BUY recommendation for Alexander & Ferris using the available financial and qualitative information. The analysis was conducted by deriving additional information from
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From my point of view‚ accounting practices that MINISCRIBE used to fabricate the number in the financial statements can be divided into two aspects. One is about how to increase the NET INCOME and the other is about how to decrease EXPENSE. a) NET INCOME We know from the news that Mr. Wiles’s unrealistic sales targets and abusive management style created a pressure cooker that drove managers to cook the books or perish. And look they did -- booking shipments as sales‚ manipulating reserves and
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Question 1: Construct 1988 Statements of Cash Flow for MiniScribe.（assume that 1988 depreciation expense is $6） Table 1: Statement of Cash Flow of MiniScribe of 1988 and 1987 1988 1987 Statement of Cash Flows Cash Flows from Operating Activities Net Income 26.00 31.00 Non-Cash Adjustments 6.00 11.00 Changes in Assets and Liabilitites Related to Operations Change in Accounts Receivable (116.00) (17.00) Change in Inventory (56.00) (39.00) Change in Account Payable 143
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A Case Study on MiniScribe Corporation for BA 219 - Corporate Financial Reporting Submitted to: Dr. Helen S. Valderrama by ARELLANO‚ Alyssa Loren ASADON‚ Rovin Vincent BLANCO‚ Melissa CHU‚ Goodwealth DE GUZMAN‚ Cla PRELLIGERA‚ Chriss Jan July 9‚ 2013 Master in Business Administration University of the Philippines Diliman‚ Quezon City EXECUTIVE SUMMARY In October 1988‚ Paula Perry‚ a research analyst for the brokerage firm Alexander and Ferris‚ was tasked to analyse
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Business Ethics Case Shirley Jones was Shirley Partridge on The Partridge Family. Ethical Case 3.4 Within this case little three year old Joshua was mailed an offer by times magazine. Within the see through window of the envelope there was an offer stating that if the recipient only opened that letter that they would receive a free calculator watch. After his mother opened the envelope and read further it seemed that not only opening the envelope but purchasing the magazine was required
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PUBLIC TRANSPORTATION: LABORAL ETHICAL ISSUES 1. What are the Stake Holders interacting with them? The StakeHolders direct are: Society: Users of the public transportation Employees of bus company Controller Manager City transport authority Renter of bus Operators tour The StakeHolders indirect are: Informal transit associations Drivers (conductors) and other personnel Police Government local and national Radio/ Medias 2. Potential conflicts – examples? Conflict between bus driver and the
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Fraud Examination Executive Summary: Miniscribe By Samantha Altieri‚ Zac Biesiada‚ Dan Cohen‚ and Tim Foley BACC 552 Miniscribe was a computer disk drive manufacturing company that was founded in 1981 by Terry Johnson. The company was initially run out of basement of Mr. Johnson’s home in Longmont‚ Colorado. Shortly after becoming a publicly traded company in 1983‚ Miniscribe began to experience financial losses. (United States v. Patrick J. Schleibaum) In 1985 the venture capital firm
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Business Ethics Case Study 1. Benji Watson is the type of individual corporations everywhere would be proud to have on their team. New Gen Health Sciences is not his only choice‚ and I do not believe it would be a wise choice for Benji. The mere fact the Benji is a Liberty University graduate tells New Gen that he values honesty‚ has strong moral principles and prefers to be ethical in his
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Business Ethics Case BUS/415 February 15‚ 2012 University of Phoenix Abstract This paper will examine the lawsuit filed by Shirley Jones against The National Enquirer‚ Inc.‚ a business based in Florida‚ and its president. The lawsuit‚ filed in California‚ was for alleged defamation‚ emotional distress‚ and invasion of privacy. In addition‚ this paper will examine what type of paper the National Enquirer is‚ along with the ethics behind trying to avoid the suit. Furthermore‚ the following
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