B1 – Ethics‚ fraud and internal control at Bern Fly Company The main purpose that a good internal control must fulfil is to protect the firm’s assets from fraud and theft. As we can see from the description of Bern Fly Company’s case‚ the internal control within the company leaves much to be desired. As it can be read in the case the salespersons get commission promptly after each order taken by their customers without any control to check if that order is real or only a fictitious one. This
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of 1914 was put into place to further outline the illegal activities stated in the Sherman Act‚ and to outlaw ways that companies may try to develop monopolies. It was later amended by the Celler-Kefauver Act of 1950‚ which kept a company from merging with it’s competitor to acquire their stock. The Federal Trade Commission Act of 1914 created the Federal Trade Commission‚ which has 5 members and works with the Department of Justice to regulate the antitrust laws. The Wheeler-Lea Act of 1938 was created
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Competition in the industry • The industry that Under Armour deals with it is a extremely competitive one. Furthermore‚ with the large number of brands in the industry and a few of them having a significant market share makes it immensely difficult for brands like Under Armour to establish their dominance in the marketplace. • Competitors‚ such as Adidas and Nike are recognized worldwide and they have remarkably more resources than that of Under Armour. They have been successful in developing good
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Ethics/Sarbanes Oxley Act of 2002 Article Summary The Sarbanes-Oxley Act‚ which was enacted July 30‚ 2002 in response to the Enron and WorldCom scandals‚ gives extended powers to the Securities and Exchange Commission. It was enacted to provide investors with accurate and timely disclosure of financial and other important data of public companies and to ensure that audits of this financial data are performed according to accepted standards and by independent accounting firms. The Compliance
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Internal Controls XACC/280 Whenever having a company‚ he or she must have the right aspects so that business can run as smoothly as possible. The existence where not having the company together as supposed to‚ then there are problems that can follow. Internal control is the safeguard of the assets and the accuracy along with able to rely on he or she’s accounting records and the guide to success is making sure that he or she follows the control principles. The two sentences before this is the
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Telecommunications Law & Regulation NETW-584 Natural Monopoly What is Natural Monopoly? A Natural Monopoly transpires where the largest supplier of the production of a product (i.e. goods or a service) in a business regularly becomes the first provider in a marketplace and has a tremendous cost advantage over other actual and prospective competitors. Natural Monopolies are companies that provide a service to an area. It increases the setup costs‚ it lays all the required cables‚ and it procures
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this respect that the writer has chosen this topic: The impact of Internal auditing in the telecommunication industry with Vodafone Ghana Limited as the case study. 1.0 BACKGROUND OF THE STUDY Mautz and Sharaf (1961) defines auditing as a systematic process of objectivity; obtaining and evaluating evidence against assertion and established criteria and commence communicating the results to interested users. Internal auditing is an independent appraisal functions established within an
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Regulation of Reproductive Technology Within the past couple decades‚ Assisted Reproductive Technology (ART) has become a booming industry‚ especially with the success of In Vitro Fertilization (IVF) procedure. Millions of infertile couples have looked into ART as a way to have children. Since 1980‚ there have been over 140‚000 babies born in the United States using IVF procedure. Just recently‚ the world has been amazed by the case of Nadya Suleman’s octuplets. Is this a message to all women that
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History of John Deere American history is full of rises and falls. One of the most important industries is‚ without a doubt‚ the agricultural industry. The fact that the agricultural industry provides food for us all is what makes it so important. John Deere and his company revolutionized the agricultural industry and left an everlasting impression on not just the industry but the world itself. The story of John Deere and his development of the steel plow all began in Ruthland‚ Vermont
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__________________ | Date | __________________ | SARBANES-OXLEY ACT OF 2002(SOX) Introduction to SOX: Financial Analysis involves evaluation of business‚ budgets‚ projects etc to ensure stability‚ liquidity‚ and solvency and at last profitability of the business in presence of domestic and global macro-economic environment to determine suitability of investment. This evaluation is not completely objective and gets impacted by personal biases of the analysts which result into misleading outputs for investors
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