"In 1919, the owners cut salaries across the league after orld ar I had reduced baseball attendance in 1918. Even while extending the 1919 season, the owners feared the same. But attendance went up while salaries remained the same" ("Black Sox Scandal," Eastland Memorial Society, 2000). However, the most egregious example of unfairness was when Comiskey told the widely-respected pitcher Eddie Cicotte that he would get $10,000 if he won thirty games, a supposedly impossible task. hen Cicotte won twenty-nine games, Comiskey benched him. As the owner was clearly putting his own financial interest above the good of the team as well as his players, Cicotte cracked and agreed to throw the series for $10,000 in cash.
Class friction and personality conflicts on the team contributed to the scandal. The hite Sox star, Columbia-educated Eddie Collins had demanded a $14,500 salary when he was bought from the Athletics in 1915.…… [Read More]
Scandal/Controversy in Sports
The following will take a look to see if scandal and controversy benefit sports.
Background of Sports Industry and Scandals
Sports in the U.S. is a multi-billion-dollar industry. Companies try to engage with clients by aligning the services and products they offer with this well-known industry via sports funding and endorsement. The benefit of this involvement has been well-recorded in the sports marketing literature (Hughes and Shank, 2005). The effect on business brands in case a scandal surfaces regarding an athletic supporter like a player, coach, or a team however, is less well-known. Several sports scandals, for instance, the rape case surrounding Kobe Bryant and the University of Colorado recruitment scandal raise very serious questions regarding the effect of sports scandals on amateur and professional athletic institutions, participants, sponsors, as well as other stakeholders.
Whereas conventional corporate sports supporters like Nike maintain omnipresence, several other different kinds…… [Read More]
sports betting. Discussed are the problems with the betting, players getting gifts from betting agents, and effect of sports betting on the economy. Seven sources are used.
Sports and Betting
More Americans play more sports than in any other country in the world. Moreover, we watch more sports than anyone else on earth. Football and figure skating, two sports that could not be more different have drawn the biggest TV audiences in history. Sports bind us together as Americans. It has the ability more than just about anything else to tear down the barriers of race, class, gender, politics and geography (McDonald 1998). Sports is part of our national culture. It's part of our national conversation. A waitress at the local cafe talks Friday-night football with the cop and the banker. A Democratic gardener, trimming the greens at the country club, discusses golf swings or last week's tournament with a…… [Read More]
Clearly, he's an excellent player, however, the underlying suggest is that he has rigged games. Bill comments, "But he loses ball games'" (Hemingway 48). The idea that he may not be above board evokes the comment from Nick that "There's always more to it than we know about'" (Hemingway 48). The disappointment that both feel about this player indicates a kind of disillusionment with the game. Hemingway intentionally makes this suggestion based on the famous Black Sox scandal of 1919 when the orld Series was thrown (Hurley). Americans so often believed in the power of baseball as something good and virtuous. The thought that baseball could be corrupted helps convey Nick's cynicism in this story (Hurley). Nick is a young man with a future and should be optimistic, but he has been tainted by something.
Baseball serves to illustrate the relationship between the men, but so do the novels that…… [Read More]
Sarbanes-Oxley Act, also known as the SOX, was passed in the year 2002 in the United States of America to not only strengthen and fortify the Corporate Governance of the country but also to re-install confidence in the average investor. The SOX Act was known as the Sarbanes-Oxley Act because the U.S. Senator Paul Sarbanes and the U.S. epresentative Michael Oxley sponsored it. The factors that led to the necessity of this act were that, primarily, there were a number of accounting as well as corporate scandals affecting the corporate structure of several famous and prominent companies of the U.S.A. As an inevitable result of these scandals, there was a loss of trust on the part of the people of America in the several different accounting and reporting practices in the corporate world of the United Sates of America. The Sarbanes-Oxley Act provides wider legislation facilities as well as sets…… [Read More]
The statute of limitation for the discovery of fraud is increased to two years from discovery date and five years following the act. Criminal penalties for securities fraud was increased to 25 years, by SOX.
Each public company's CEO and CFO must certify financial statements and reports. Personal loans are banned, to executive officers and company directors, with the enactment of SOX. It is also now required to accelerate reporting of insider trading ("H.. 3763").
In addition, SOX now prohibits insider trading during pension fund blackouts. Compensation and profits for the CEO and CFO must be made public.
Auditor independence is now specifically required. and, American companies must have an internal audit function, that is certified by external auditors. Audit firms are prohibited from providing services, unrelated to their audit work, to clients. One of the most important provisions is an increased accountability, holding CEOs and directors accountable, for crimes…… [Read More]
Tesco’s Fraud in the Accounting Information System
The Accounting Information Systems (AIS) plays a central part in the business computing structure of any organization. AIS deals with the classification, collection, storage, monitoring, and conversion of the company’s data into information utilized for internal control and reporting (Smith, 2016). Once an organization adopts an Accounting Information System, they can keep accurate records, and manage the assets of the organizations properly. The management utilizes AIS to guarantee that there are suitable access and separation of duty controls. With such restrictions, the administration can hold the employees responsible for their interaction with the system. This paper delves into how the components and functions of Tesco’s accounting information system contributed to the 2014 fraud scandal.
Tesco’s Fraud Scandal
Tesco is popular grocery retailer with its head office in Welwyn Garden City, Hertfordshire, U.K. (Colson, 2017). Globally, it is ranked at position nine regarding revenues…… [Read More]
In the fifth hypothesis of measuring the business ethics levels of Taiwanese ITPs the Null and Alternative Hypotheses are defined as follows:
H0: In the ethical climate of independence, the business ethics level of Taiwanese ITP's is high.
H1: In the ethical climate of independence, the business ethics level of Taiwanese ITP's is low.
Results of Testing Hypothesis Five
It has been established in the fourth hypothesis that the greater the ethical climate of independence, the greater the level of ethical self-direction and ownership of ethical outcomes. This also holds true when the ethical climate of instrumental low. The adherence to self-defined ethical standards is high. When the specific variable of in this company, the employees are expected to do their job according to their personal belief of ethics is correlated against the variable of in this company, the employees can make decisions based on their personal judgment,…… [Read More]
The statement regulating accounting for stock-based compensations defines a fair value-based method of accounting for an employee stock option or similar equity instrument and encourages all entities to adopt that method of accounting for all of their employee stock compensation plans. However, it also allows an entity to continue to measure compensation cost for those plans using the intrinsic value-based method of accounting prescribed by APB Opinion No. 25, Accounting for Stock Issued to Employees. The fair value-based method is preferable to the Opinion 25 method for purposes of justifying a change in accounting principle under APB Opinion No. 20, Accounting Changes. Entities electing to remain with the accounting in Opinion 25 must make pro forma disclosures of net income and, if presented, earnings per share, as if the fair value-based method of accounting defined in this statement had been applied.
Stock options are the most frequently used method in…… [Read More]