The Madoff scandal 16 December 2008 The repercussions from the collapse of Bernard L. Madoff Investment Securities LLC‚ whose founder and owner was arrested last Thursday after admitting that his $17 billion investment advisory business was "a giant Ponzi scheme‚" continue to widen. According to a criminal complaint filed by the FBI and a civil action brought by the Securities and Exchange Commission (SEC)‚ the elderly Madoff estimated that the losses from his fraud exceeded $50 billion. The tally
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1. Describe clearly the accounting changes Harnischfeger made in 1984 as stated in Note 2 of its financial statements a. Harnischfeger registered as a net sale the final sales amount of products bought from Kobe instead of only the gross margin received per unit. It has also taken in consideration the financial statements of some subsidiaries (but not all of them) to increase net sales. 2. What is the effect of the depreciation accounting method change on the reported income in 1984? How
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Thousands of people worldwide are suffering from poverty. People do not choose to live in poverty‚ society leave them with no choice. They usually live in isolated areas and have little business nearby. Poverty does influence‚ power because there are less opportunities and poorer health‚ which makes life more difficult than someone that is wealthy. Power is affected by poverty because there are less opportunities for the less fortunate making life more burdensome. In the article A Look Inside America’s
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Ever since our founding fathers discovered this country‚ citizens have shown a great deal of respect for the men and women that have fought to preserve the independence and the freedoms that this country is built on. Throughout the history of this nation we have only seen a few instances of declined patriotism and it seems as if were are going through a downfall today. In the seventeen years that I have been a part of this nation I have experienced one of the deadliest terror attacks that the world
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Whenever there is a war that is occurring in a country‚ people would always find a certain way to escape the country. Those people are called “refugees.” A refugee doesn’t simply leave their home‚ they additionally need to leave their nation of origin and discover assurance in another. Refugees are protected under international law‚ rules that governed all countries. They are ensured under the global law‚ a regulation that administered all nations. Much the same as all people‚ they have the privilege
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The percent of children receiving their education at home has increased since the 1960’s. However‚ during the course of history‚ children have been schooled at home. Yet with the industrial revolution homeschooling declined. The reason for the resurgence was the social and political activism of the 60’s. The desegregation of schools‚ the removal of prayer‚ and book’s like How Children Fail‚ by John Holt‚ blaming public schools for not educating children (Cook‚ Lane‚ Mataras‚ 2013). A second resurgence
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Dreams and ambitions. We all have dreams and ambistions.They can be as small as passing your English speech. Or as big as becoming the first black president of America. Dreams and be the pursuit of love‚ finding the special someone‚ someone whom you want to spend the rest of your life with. Everyone can accomplish their dreams as long as they put in the work. Dreams aren’t free‚ they are paid in hard work‚ determination‚ and willingness to achieve your goal. Walt Disney‚ died at age 65‚ in that time
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What Patriotism Means to Me Patriotism means to love and fight for your country. Just like our heroic forefathers I think we should pursue the same dream. Many role models had patriotism. For example‚ Patrick Henry was famous for the quote “Give me liberty or give me death”. He meant that he would risk his life for the freedom of his country. To me I think patriotism means not only being willing to fight for our country‚ but trying to change it. Like Martin Luther King‚ Jr who had one of the biggest
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Compare the strengths and weaknesses of the Articles of confederation to those of the Constitution. Which document did a better job at protecting liberties? Running a government? Explain your answer with specific examples. The Article of Confederation was the building block that created our Constitution. It was prefect as well a lot of things our government creates. In addition here are differences between the two documents. “When it came to levying taxes the Articles stated Congress could
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An estimate of 70% of couples living in the U.S. Are currently cohabiting. I will be talking about the benefits and disadvantages of cohabiting before getting married. I understand that there are many different thoughts or people that don’t support this idea. Many believe that you should be marry to the person but it’s the 20th century a lot of the old traditions are really not followed as much. For example the marriage should be between a man and woman‚ the cohabitation and many other ones. My opinion
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