Accounting Fraud at WorldCom 1) What are the pressures that lead executives and managers to “cook the books?” After the rapid evolution of the telecommunication industry in the 1990s‚ WorldCom shifted its strategy to focus on building revenues and acquiring capacity sufficient to handle expected growth. Their biggest goal was to be the No. 1 stock on Wall Street rather than capturing the market share. As a result‚ their Expense-to-Revenue (E/R) Ratio was their measurement for their main objective
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life. “Occupational therapy is the health profession that focuses on maximizing a person’s ability to participate in life independently” (“April is”) . Some Occupational therapist work in school environments specializing in helping students improve daily tasks and allowing for an easier time learning in a school setting. I Occupational Therapy is a specialized type of therapy that focuses on the treatment and development of daily life skilled to improve one’s way of life. Many occupational therapist
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Employee Fraud and Purchasing Department There is a phenomenon in middle/small size companies in China that purchasing agents of the companies collaborate with vendors to create fake receipts‚ in order to receive more reimbursement from the company. This also happened in the hospital I used to work for‚ where the purchasing agent had to buy food from different vendors for everyday dinning purpose. The fraud got exposed when one day a vendor called us and revealed the fact that
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CAREER PAPER Getting America Back to Work Becoming an Occupational Therapist Becoming an Occupational Therapist involves a lot of time and dedication. Occupational therapy has a simple definition – helping challenged patients perform everyday tasks. Technically Occupational Therapists are defined as healthcare professionals who work under the supervision of a Physiatrist who help people with physical‚ developmental‚ mental‚ or emotional disabilities to overcome‚ correct
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The Fraud of the Century The Case of Bernard Madoff Summary of the case In December 2008‚ the highly respected American businessman Bernard Madoff made the headlines when the US authorities accused him of orchestrating a $65 billions Ponzi scheme which is the biggest financial frauds of all time and made of him “ The Conman of the Century”. Bernard Madoff also called "Bernie" is a former American businessman‚ stockbroker‚ investment advisor‚ financier and the former non-executive
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It wasn’t before I met my friend Hwa I first learned about occupational therapy. Couple of years ago‚ I ran into my long-ago friend’s dad at a grocery store when I was back in Korea during a summer vacation. As much as I was glad to say hello‚ he smiled but I saw his eyes were not. It happened that Hwa’s mom and her two other sisters were involved in a car accident five years ago. Although they were all carried to Intensive Care Unit‚ Hwa was the only survivor from the accident. The next day‚ I met
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Forensic Accountants: Fraud Busters Daniel ****** Dr. Brian Collins Contemporary Business 8/12/2012 Abstract The field of forensic accounting is a profession that is in high demand because of the technological and financial complexity of today’s companies. Because of the Enron scandal forensic account has come to the forefront with some major universities even offering it as a major. There are several skills that are required in forensic accounting and they include an expertise in accounting
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Question 1: Name two cases in which companies have committed frauds by misstating inventory. Crazy Eddie and Goodner Brothers case are the good example for the inventory fraud cases. Question 2: What makes the intentional misstatement of inventory difficult to detect? When you have the most senior management of the company‚ particularly its financial management‚ consciously setting out to fool the auditors‚ to hide information from them‚ as they testified in the Monus trial‚ it’s very hard to
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person engages in for personal satisfaction and pleasure (Hinojosa & Blount‚ 2014). Occupational therapy practitioners use purposeful activities as a method to restore function and compensation for functional impairment (Hinojosa & Blount‚ 2014). Before incorporating the meaningful occupation into the intervention plan‚ an analysis of the activity needs to be conducted. All the information received from the occupational profile must be taken into account when choosing a purposeful activity. The client
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10 major steps in the fraud risk model 1. Understand the nature of fraud by identifying the factors associated with fraud that are outlined in the fraud triangle. The factors include rationalization‚ opportunity‚ and incentive (ROI). Incentive/pressure to commit fraud Fraudulent financial reporting Management compensation schemes Financial pressures to improve company’s earnings and balance sheet Personal wealth tied to either financial results or survival of company Defalcation (misappropriation
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