THE CENDANT CORPORATION ACCOUNTING SCANDAL BCOM21 TABLE OF CONTENTS ACKNOWLEDGEMENT ………………………………………………………… 2 INTRODUCTION …………………………………………………………………. 3 SUMMARY ……………………………………………………………………….. 4-7 COMPANY PROFILE …………………………………………………………… 8 THE OFFICERS INVOLVE …………………………………………………….. 9-15 DISCUSSION ……………………………………………………………………. 16-20 THE SETTLEMENT The settlement with Cendant ………………………………………… 21-22 The settlement with Ernst & Young ……………………………….. 23 THE BREAKUP ………………………………………………………………… 24 CONCLUSION
Premium Fraud Accounting scandals Financial statements
American Period In Feb.‚ 1899‚ Aguinaldo led a new revolt‚ this time against U.S. rule. Defeated on the battlefield‚ the Filipinos turned to guerrilla warfare‚ and their defeat became a mammoth project for the United States— Thus began the Philippine-American War‚ one that cost far more money and took far more lives than the Spanish-American War. Fighting broke out on February 4‚ 1899‚ after two American privates on patrol killed three Filipino soldiers in San Juan‚ Metro Manila. Some 126‚000
Premium Philippines President of the United States United States
Stanley Hydraulics Corporation (A) From my overall point of view‚ I don’t think that Bob Nehrgardt was crazy. It’s highly appreciable that someone is dedicated to work so enthusiastically and objectively for his company. Bob achieved a huge success in a relatively small time period. In ten years with Dynamic Controls‚ Bob Nehrgardt raised up the annual sales from $600‚000 to $5 million. Entering in the product engineering‚ he developed his path towards industrial sales‚ marketing‚ product development
Premium Management Psychology Mind
capital employed (ROCE) Cash flow return on investment (CFROI) Efficiency ratio Net gearing Basic Earnings Power Ratio Liquidity ratios: measure the availability of cash to pay debt. Working Capital (Current Ratio): Current Assets/Current Liabilities Acid Test Ratio (Quick Ratio) Cash Ratio: used to determine how quickly a company can pay its short term debt; useful for creditors if they want to determine how much cash willing to extend Operating Cash Flow Ratio: Activity
Premium Financial ratios
Cumulative Translation Adjustment 15‚381.80 Lee Corporation Statement of Changes in Stockholder’s Equity For the year ended on December 31‚ 2007 Common Stock Additional Paid-in Capital Treasury Stock Retained Earnings Accumulated Other Comprehensive Income Total Stockholder’s Equity Balance as of January 1‚ 2007 $500‚000.00 $1‚000‚000.00 $(200‚000.00) $225‚000.00 $1‚525‚000.00 Prior Period Adjustments: Depreciation Error (Net) $(15‚000
Premium Generally Accepted Accounting Principles
The importance of the concept of cash-flow for the business finance Definition: Cash flow is the movement of money into or out of a business‚ an account or an investment. Normally‚ when the cash inflow is greater than the cash outflow it is a sign of a good financial situation because cash flow is essential for the survival of a business or even to any individual financial condition. If the company can meet its obligations and keep a healthy inflow of cash it has a healthy situation and the
Premium Corporate finance Finance Cash flow
CASH FLOW CYCLE Cash flow is referred to be the single most serious concern of the SME (small and medium-sized enterprise). It is simply the inflow and outflow movement of money in the business. The effect of cash flow is real and needs to be protected. There are four principles in cash management: - The first is cash needs to be tracked and captured. It needs to be in a controlled process. - Second‚ cash management is an important part of the business cycle. - Third‚ you need information on
Premium Cash flow Net present value Cash
Ruth Ganley ACCTG 400 Module 2 Case 6-2 Cash Versus Credit It’s almost Christmas time and you still need to buy presents for eleven relatives. Although you plan to work over the semester break to earn some extra money‚ your current cash resources are low --- you have only $250 in your checking account‚ and you still need to pay your half of the phone bill ($50) before you leave for home. However‚ you do have a Target card (current balance $1‚000) and the lender recently sent you a notice
Premium Credit card Payment Money
How Do I Invest In My Future? I believe in personal responsibility. My actions today will influence my future‚ either positively or negatively. To invest in my future‚ I will need to invest in my personal development. The personal development will be in all areas of life. From developing myself‚ I make myself useful to the society and to the next generation. As a student‚ to invest in my future‚ my investment in education is important. Focusing in school and getting good grades as well as developing
Premium Time Learning Future
Petty cash fund is a relatively small amount of cash that businesses keep on hand for the purpose of small transactions such as providing change to customers‚ postage expenses‚ highway tolls etc. In such transactions‚ the use of checks is time consuming‚ costly or illogical. Usually a custodian is appointed to administer the petty cash and it is his/her duty to account for the expenses incurred out of petty cash fund. Whenever the custodian makes any payment from the fund to an employee or a customer
Premium Cash Small business Money