Internal & Managerial Control “Internal (Management) Control is the set of accounting & administrative controls and practices that help ensure that approved and appropriate decisions are made in an organization” * in other words‚ to make sure that the right thing happens and the wrong thing does not happen‚ either purposely or accidentally Why Internal Control? 1. To safeguard the assets against waste‚ loss & misuse 2. Check the accuracy and reliability of accounting data
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Running Head: Nextcard Nextcard‚ Inc Background Nextcard‚ Inc was a model for successful people who were looking to the internet in the 1990’s as an enterprise. Nextcard was founded in 1996 in California as the first credit card company to issue cards online. Since the internet was still being introduced to households throughout the United States internet companies were still developing effective methods to reach potential customers. One of the driving
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Consulting Firm Inc. has been hired to review Auto Parts Inc. company functions. The consulting firm reviewed the cash‚ sales‚ accounts receivable‚ inventory and production functions. Based on this review‚ the consulting firm has prepared a proposal of internal controls for each function of the company. This proposal will give a background of each function and a list of the proposed internal controls. Cash Auto Parts Inc. manufactures and sells auto parts to car dealerships as well as the general
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The Olympus Scandal and Corporate Governance Reform: Can Japan Find a Middle Ground between the Board Monitoring Model and Management Model? Bruce E. Aronson∗ I. Introduction II. The Olympus Scandal and Corporate Governance Issues III. Towards a Mixed Model? Considering Effective Monitoring of Management under the Japanese Corporate Governance System IV. Conclusion I. INTRODUCTION Japan has been in a corporate governance dilemma for the past 15 years. The country has
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truly international hotel group‚ was born in 1946.it becomes the biggest hotel group on earth.This group also have the wildst distribution of hotel around the world.The goal of this hotel is creating great hotels guests loveThe headquarter of this company is in berkshire ‚ UK .During 2007‚ it employed approximately 10366 in 2007 . What is the meaning of environment? (Docstoc 2010‚ p3)That means the surroundings‚ influnces‚ external objects and circumstances under someone or something exists.The
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Starbucks Coffee Company Stephanie Deacon Colorado Technical University Online: ACCT 320-1203A-01 Professor White 6 August 2012 Abstract This paper will provide an overview of Starbucks Coffee Company and identify seven red flags of possible fraudulent behavior within the organization. Steps to design a fraud prevention program will also be discussed based on the identified red flags. Starbucks Coffee Company opened its first store in Seattle‚ Washington in 1971 offering fresh-roasted
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to find ways to set fraud in motion – and a new breed of offenders is finding cunning ways to do so. After more than 60 years‚ the classic fraud triangle of three elements or events that motivate an employee to cross the line has morphed ™ into Crowe’s Fraud Pentagon. Company boards and senior management must take an offensive stance against the five conditions that precipitate fraud with a clear plan that limits the opportunity for fraud and minimizes the impact when fraud does occur.” Jonathan
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May 2011 pp. 19–50 American Accounting Association DOI: 10.2308/ajpt-50009 Financial Statement Fraud Detection: An Analysis of Statistical and Machine Learning Algorithms Johan Perols SUMMARY: This study compares the performance of six popular statistical and machine learning models in detecting financial statement fraud under different assumptions of misclassification costs and ratios of fraud firms to nonfraud firms. The results show‚ somewhat surprisingly‚ that logistic regression and support
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INTERNAL ACTORS (AND EMPLOYEE REPRESENTATIVES) Directors The most prominent group of actors in corporate governance are the company’s directors. They can be either executive or non-executives directors (NEDs); the numbers and split of executives to NEDs will partly depend upon the regulatory regime of the country. It is generally the case that investors and regulators prefer there to be more NEDs‚ as their independent scrutiny of the company‚ its controls
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Running Head: Credit Card Fraud Impact of Credit Card Fraud Outline Card Credit Fraud Thesis Statement: Credit card fraud is an inclusive term for larceny and deception committed using a credit card or any similar payment mechanism as a fraudulent source of funds in a transaction. The purpose may be to attain goods without paying‚ or to achieve illegal resources from an account. Credit card fraud is also an appendage to identity theft. According to the Federal Trade Commission‚ while identity
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