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Regulatory Ethics When Evaluating the

Words: 2228 Length: 7 Pages Document Type: Research Paper Paper #: 18014260

This is a major oversight because as stated above, one of the areas in which the use of former SEC officials seems to have been most successful is in the securing of waivers and releases. In leaving out these areas, the prime evidence in support of the revolving door demonstrates itself to be woefully inadequate. In contrast, the POGO report details a number of problems with this earlier academic study while demonstrating that some of the things the academic study tried to downplay, such as the SEC's tendency to settle rather than pursue charges to their fullest, are actually evidence of SEC regulation being affected by its close relationship with the industry it is meant to regulate (POGO, 2013, p. 28).

The study's findings are persuasive precisely because they are so comprehensive in their dismantling of the primary academic justification of the revolving door. By demonstrating the critical errors in…… [Read More]

References

Assistant Comptroller General. General Accounting Office, General Government Division.

(2000). Studies helped agencies measure or explain program performance. Washington,

DC.

Corporate Crime Reporter. (2013, February 21). Pogo on sec's revolving door. Retrieved from  http://www.corporatecrimereporter.com/news/200/pogo-report-on-secs-revolving-door/
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Explication of Insider Trading

Words: 1448 Length: 4 Pages Document Type: Essay Paper #: 74414926

Wealth, Power and Insider Trading on Wall Street

In today's increasingly internationalized worldwide economic system, defined by the expansion of multinational corporate conglomerates into foreign shores, the necessity for effective and efficient financial regulation to prevent criminal conduct covered by the catchall term "insider trading" has never been greater. Whereas autonomous countries once maintained clear authority over businesses which were built on their shores, through levying taxes, enforcing fiscal regulations, and instituting a lawful system of commerce, today the most successful companies are those with the wherewithal to transfer their operations abroad. Global financial management requires a comprehensive comprehension of foreign exchange and currency markets, derivatives securities, international financial debt and equity markets, international portfolio investments and the global market for real assets. Due to the fact that "financial markets and intermediaries today are globally linked through a vast international telecommunications network," with this continual process resulting in "the trading…… [Read More]

References

Domhoff, G.W., (2010). Who rules America? Challenges to corporate dominance (6th ed.). New

York, NY: McGraw-Hill

Harrison, B.C., & Dye, T.R., (2011) Power and society: An introduction to the social sciences

(12 th ed.). Boston MA: Wadsworth
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Accounting Several Terms and Definitions Are Valuable

Words: 895 Length: 3 Pages Document Type: Essay Paper #: 53038561

Accounting

Several terms and definitions are valuable to understand financial statements. In the United States, financial statements of public corporations are produced in accordance with the U.S. Generally Accepted Accounting Principles. These principles govern how the information for financial statements is compiled and presented. The purpose of these principles is so that all stakeholders can easily understand the statements and make comparisons across both time and across different companies, because the statements are produced and presented in a consistent manner. The International Financial eporting Standards (IFS) are the international equivalent of GAAP. While several countries utilize a national version of GAAP (U.S., Canada, UK, etc.), more than 100 countries use IFS, making this set of standards the most widely-adopted in the world. There is a move to converge national GAAP standards with IFS, including a multi-year project to converge U.S. GAAP with IFS. For now, however, IFS represents a different…… [Read More]

References:

No author. (2012). Generally accepted accounting principles (GAAP). Investopedia. Retrieved August 18, 2012 from  http://www.investopedia.com/terms/g/gaap.asp#axzz23vrKSd9Q 

PCAOB.org (2012) PCAOB oversees: The auditors of companies to protect investors. Public Company Accounting Oversight Board. Retrieved August 18, 2012 from  http://pcaobus.org/Pages/default.aspx 

SEC.gov. (2012). The investor's advocate. Securities Exchange Commission. Retrieved August 18, 2012  http://www.sec.gov /about/whatwedo.shtml" target="_blank" REL="NOFOLLOW">
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International Financial Reporting Standards

Words: 951 Length: 3 Pages Document Type: Research Paper Paper #: 79010483

International Financial eporting Standards

IFS and Canada

Canada was one of the first prominent nations involved in the North American Free Trade Agreement to consider switching their financial reporting to the International Financial eporting Standards. For years, Canada had been under the pressure of the United States to adopt a system aligned with the GAAP. Still, growing opportunities across the globe made the adoption of the IFS in Canada a better option. It was announced in early 2008 that the move was going to be made in Canada. Canada officially adopted the IFS standards in January of 2011 (PWC, 2014). Actually, the IFS standards were quite similar to the already existing Canadian GAAP standards. Thus the transition, for most businesses, was not extremely different than what they had encountered in the past.

The country made the official decision to adopt the IFS over their own GAAP system came in a…… [Read More]

References

Canadian Institute of Chartered Accountants. (2011). The CICA's Guide to IFRS in Canada. Web.  http://ocaq.qc.ca/pdf/ang/6_presse/infoca/2007/InfoCA1185_Guide_EN.pdf 

Canadian Institute of Chartered Accountants. (2012). IFRS Adoption in Canada: An Empirical Analysis of the Impact on Financial Statements. Web.  http://www.cga-canada.org/en-ca/ResearchReports/ca_rep_2013-10-03_IRFS.pdf 

IFRS. (2013). Canada. IFRS Application Around the World. Web.  http://www.ifrs.org/Use-around-the-world/Documents/Jurisdiction-profiles/Canada-IFRS-Profile.pdf 

PWC. (2013). IFRS Adoption by Country. Web.  http://www.pwc.com/en_US/us/issues/ifrs-reporting/publications/assets/pwc-ifrs-by-country-apr-2013.pdf
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Problem Sets

Words: 1120 Length: 4 Pages Document Type: Term Paper Paper #: 16241574

SEC that is responsible for the policing the accounting and ethics of publicly held companies is:

Public Company Accounting Oversight Board.

The financial statement that summarizes the assets, liabilities, and stockholders' equity of an entity at a specific point in time is the:

Balance Sheet

At December 31, 2002, Robinson's Home Improvement has $100,000 of assets, $40,000 of liabilities, and $60,000 of stockholders' equity. On January 15, 2003, Robinson's purchased $30,000 of assets by incurring a liability. Robinson's total assets, liabilities, and stockholder's equity at January 15, 2003 (after the purchase) are, respectively, ____, ____, and,

$130,000; $70,000; and, $60,000

4. Gadsden Lawn and Mowing Service began operations on January 1, 2002. At the company's inception, Bob Morgan contributed $100,000 of cash and equipment. During the year, Gadsden earned $200,000 of revenue, incurred $100,000 of expenses, and incurred no liabilities. Total owner's equity at December 31, 2002 is:

a. $200,000…… [Read More]

Works Cited

Meyer, Philip, E., M.Ac., D.B.A. Accounting and Bookkeeping. Microsoft Encarta Encyclopedia Standard 2004. CD-ROM. Microsoft Corporation: 1993-2003.

Miller, Merton, H. Microsoft Encarta Encyclopedia Standard 2004. CD-ROM. Microsoft Corporation: 1993-2003.

'Accounting and Bookkeeping." 1993-2005. MSN Encarta. 28 Aug. 2005 .

'TeachMeFinance.com." TeachMeFinance.com 2005. TeachMeFinance.com 28 Aug. 2005 .
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Insider Trading on June 4 2003 the

Words: 2244 Length: 7 Pages Document Type: Essay Paper #: 91801753

Insider Trading

On June 4, 2003, the Securities Exchange Commission announced that it was pursuing charges against investor Martha Stewart and stock broker Peter Bacanovic for securities fraud. The fraud occurred on December 27, 2001 when Stewart sold stock in ImClone Systems, after receiving an unlawful tip from Bacanovic, who at the time was working for Merrill Lynch. The SEC also accused the two of attempting to cover up the insider actions, and of making false statements regarding the ImClone trades to SEC investigators (SEC, 2003). Stephen Cutler, the SEC director of enforcement said in the SEC's press release about the charges that "It is fundamentally unfair for someone to have an edge on the market just because she has a stockbroker who is willing to break the rules and give her an illegal tip. It's worse still when the individual engaging in the insider trading is the Chairman and…… [Read More]

Works Cited:

AP. (2004). Martha Stewart convicted on all four counts. Fox News. Retrieved April 13, 2013 from  http://www.foxnews.com/story/0,2933,113417,00.html 

Heminway, J. (2003). Save Martha Stewart? Observations about equal justice in U.S. insider trading regulations. Texas Journal of Women and the Law. Vol. 12 (247).

Moohr, G. (2006). What the Martha Stewart case tells us about the white collar crime. Houston Law Review. Vol. 43 (2006).

Podgor, E. (2005). Jose Padilla and Martha Stewart: Who should be charged with criminal conduct? Penn State Law Review. Vol. 109 (Spring 2005).
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Sarbanes Oxley Act of 2001

Words: 7885 Length: 29 Pages Document Type: Term Paper Paper #: 95753298

Sarbanes-Oxley.

The political pressure of the past several years following the dot.com bubble and the collapse of several major companies created a need for new securities legislation, which culminated last year in the Sarbanes-Oxley Investor Protection Act, which establishes new guidelines for the securities industry. Initially a Democratic brainchild, the act became favored by epublicans in the House when it was realized that such adjustments would be of great benefit to shareholder value in that they enhanced general financial stability. This is the most prominent piece of financial legislation since the establishment of the Securities and Exchange Commission in the early 1930's. The most widely recognized feature of the new legislation, which was introduced in 1992, is that board members are held personally and criminally liable for the accounting practices that the company employees. This act also establishes guidelines as to the coverage of securities by sell-side analysts who face…… [Read More]

Resources and Authority

Studies and Reports

Corporate and Criminal Fraud Accountability

White Collar Crime Penalty Enhancements

Corporate Tax Returns
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Rydex Cq 3 For the

Words: 1888 Length: 5 Pages Document Type: Case Study Paper #: 83761769



Facts:

- Have been around 10 years

- Often mirror mutual funds

- are less regulated that mutual funds

- explosion in ETF approval requests

- SEC has other priorities

Assumptions:

-ETFs that mirror Mutual fund performance should probably be regulated like mutual funds

- Investment dealers are looking to get around mutual fund restrictions

-ETFs do improve liquidity in mutual funds, but funds are made up of liquid stocks while ETFs are fiat securities

Interaction Strategies:

Alternative strategic action to meet your objective(s) [5]

[Figure 1-4 p. 23 Blue sheet

Info, Societal, Political, Legal -- w / # from Blue sheet]

Alt market + Nonmkt [6 + 7]

analysis Mkt reactions

Select strategic action [8]

Is it legal and ethical?

Selected? (Yes / No / Wait)

Implementation of strategic action for " each" strategy [9]

Provide details of what you will do to achieve your objective(s)

Id strategy by…… [Read More]

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Cardillo Travel Systems

Words: 1418 Length: 4 Pages Document Type: Essay Paper #: 13433405

Explain the Securities and Exchange Commission's rationale to charge Cardillo executives with each of the following violations:

Making false representations to outside auditors

Without a doubt, executives of Cardillo Travel Systems made incorrect accounting transactions. As a result, this gave rise to false representations to external auditors. The rational for the SEC to charge these executives with this particular violation is linked to Management's Report on Internal Control Over Financial Reporting Under Section 13(a) or 15(d) of the Securities Exchange Act of 1934. In accordance to this guideline, the SEC expects the company's management to be accountable for maintaining an internal control system over financial report. This is so as to offer sensible guarantee with respect to the reliability of preparing and reporting of financial statements for external users of such statements, comprising of the external auditors (SEC, 2007).

Failing to maintain accurate financial records

Management of a company is…… [Read More]

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Bernard Madoff the Events Surrounding

Words: 1461 Length: 4 Pages Document Type: Thesis Paper #: 84523481

It appears that little will change under Obama, with the appointed head of the EC, Mary chapiro, similarly concerned with protecting Wall treet sharks.

James Petras (2008) similarly believes that Madoff's failure is not a personal one, but a failure of the current social, political and economic justice. In addition to an economic culture that most favors the very rich, Petras also believes that the EC and its actions are completely predictable, precisely because the regulators are selected from those are regulated. Madoff was so successful for so long because he was able to play the fraud game better than others.

According to a radio interview conducted with (2008), Maurice chweitzer explains the exact principles that worked together in enabling the Madoff scandal, as well as others like it. These principles include scarcity, authority, social proof, and the liking principle. According to the first, the client is told that the…… [Read More]

Sources

Dey, Iain & Rushe, Dominic. (2008, Dec. 14). World's richest hit by Bernard Madoff. Times Online.  http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5337735.ece 

(2009, Jan 7). Radio Interview: The Bernard Madoff Case - Trust Takes Another Blow.  http://knowledge.wharton.upenn.edu/article.cfm?articleid=2131 

Lendman, Stephen. (2008, Dec. 26). Early Suspicions About Bernard Madoff. Global Research.  http://www.globalresearch.ca/index.php?context=va&aid=11493 

Petras, James. (2008, Dec. 20). Bernard Madoff: Wall Street Swindler Strikes Powerful Blows for Social Justice. Dissident Voice.  http://www.dissidentvoice.org/2008/12/bernard-madoff-wall-street-swindler-strikes-powerful-blows-for-social-justice/
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Accounting Question on Form 8-K the Process

Words: 600 Length: 2 Pages Document Type: Case Study Paper #: 74256582

Accounting Question on Form 8-K

The process used to regulate the submission and examination of corporate financial document filings -- which is overseen by the United States Securities and Exchange Commission (SEC) -- is fundamental to the sustainable growth of a capitalist economy, because these filings act as a necessary measure of transparency for investors and financial managers. Without the meticulously gathered data compiled and submitted by public companies within regular SEC filings, investors would have no legitimate ability to analyze variables to arrive at the most prudent course of financial action. Furthermore, in the absence of SEC filings unscrupulous corporate executives would be inordinately tempted to manipulate certain aspects of the financial system, either in the pursuit of personal profit or to protect their company's interests in the event of losses. As the SEC's website states, "companies with more than $10 million in assets whose securities are held by…… [Read More]

References

SEC. U.S. Securities and Exchange Commission, (2013). Compliance and disclosure interpretations: Form 8-k. Retrieved from Government Printing Office website:  http://www.sec.gov /about/forms/form8-k.pdf" target="_blank" REL="NOFOLLOW">
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Custom Research Cousteau's Decision to

Words: 1531 Length: 5 Pages Document Type: Thesis Paper #: 49211971

hile it can be argued that auditors bear a degree of responsibility to evaluate management practices, Cousteau clearly took the view that on the whole the financial statements did accurately reflect the firm's circumstances; that the fraud did not constitute a widespread attempt to deceive the markets. Thus, evidence of fraud does not in and of itself render financial statements materially misleading. The nature and dollar amount of the fraud must also be taken into consideration, all within the context of the totality of publicly available information about the firm.

orks Cited:

Braun, K. (2001). The Disposition of Audit-Detected Misstatements: An Examination of Risk and Reward Factors and Aggregation Effects. Contemporary Accounting Research. Vol 18, No. 1 (Spring 2001), pp.71-99.

Shunglu, V.K. (1998). Role of the Auditor in Promoting Good Governance. International Journal of Government Accounting. Retrieved September 7, 2009 from http://findarticles.com/p/articles/mi_qa3662/is_199804/ai_n8794931/

Babu, T.R.R. (2004). Audit Materiality. Oxford University. Retrieved…… [Read More]

Works Cited:

Braun, K. (2001). The Disposition of Audit-Detected Misstatements: An Examination of Risk and Reward Factors and Aggregation Effects. Contemporary Accounting Research. Vol 18, No. 1 (Spring 2001), pp.71-99.

Shunglu, V.K. (1998). Role of the Auditor in Promoting Good Governance. International Journal of Government Accounting. Retrieved September 7, 2009 from  http://findarticles.com/p/articles/mi_qa3662/is_199804/ai_n8794931/ 

Babu, T.R.R. (2004). Audit Materiality. Oxford University. Retrieved September 7, 2009 from  http://eprints.ouls.ox.ac.uk/archive/00001060/01/AUDIT_MATERIALITY.pdf 

Sauer, R. (2007). The SEC's Materiality Standard Becoming Overly Vague and Excessively Onerous. Business Lawyer. Vol. 62, No. 2, pp 317-357.
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Budgeting and Finance Uncovered and Applied

Words: 605 Length: 2 Pages Document Type: Essay Paper #: 57381786

Securities and Exchange Commission (SEC) are one of the most well-known entities that regulate markets, protect investors and facilitate the capital market structure. The SEC was founded in 1934 in the wake of the Great Depression -- The SEC was created by section 4 of the Securities Exchange Act of 1934. The SEC was established by the United

States Congress as an independent, quasi-judicial regulatory agency during the Great

Depression that followed the Crash of 1929. Now, more than ever, first time investors turn to the market to protect their future income, send their children to college, pay for homes. The primary duty of the SEC is to promote sound market regulation, sustain economic growth and encourage capital formation.

The Capital Market strategy is one of many used by this entity. It is a market for securities (debt or equity), where business enterprises and governments can raise their long-term funds.…… [Read More]

References

S.E.C. (1982). "The Role on the Capital Market in the Structural Adjustment Programme (SAP)," Lagos, SEC Quarterly June, Vol 4, No 2.

Sanusi, J.O (1984). The Capital Market: A Boost to Economic development (The banking Aspect)" Seminar Paper on the Capital Market, Lagos.

Matthew Shane., 1970. Capital Markets and the Process of Economic Growth, 77 i.e. Journal of Finance, Voi. 25, No. 4. (Sep., 1970), pp. 950-951.
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Competitive Strengths and Weaknesses of

Words: 3039 Length: 8 Pages Document Type: Term Paper Paper #: 20390628

XM has taken a more target product strategy, attempting to increase depth of programming services over the pervasive offering of devices. Industry analysts have commented that Sirius is now competing with Apple and their iPod series based on the breadth of their devices (Sirius Satellite adio Investor elations and SEC Filings 2008). Sirius' approach to personal satellite players has only been marginally successful and clearly given the operations expenses shown in Table 1's analysis of Income Statements. The breadth of the product line is forcing Sirius to also develop expertise in supply chain operations and fulfillment, two series of business processes that are significantly different than broadcasting and entertainment. Having to contend with a value-based business model with entertainment channels while also concentrating on a price-based model that must focus on continual price reductions forces Sirius into multiple and often confusing accounting systems and practices. It is highly recommended that…… [Read More]

References

Andrew Edwards, Mike Barris. (2008, May 13). Earnings Digest -- Media: Losses Dog Sirius, XM. Wall Street Journal (Eastern Edition), p. B.7. Retrieved June 1, 2008, from ABI/INFORM Global database. (Document ID: 1477481521).

Apple Investor Relations. Investor Relations website for 2008-2008 filings with the Securities and Exchange Commission.,. Retrieved June 1, 2008, from Apple Investor Relations and Filings with the SEC Web site:  http://www.apple.com/investor/ 

Goh Shu Fen (2008, January). Is there really true value in value-based pricing? Media, 21. Retrieved June 3, 2008, from ABI/INFORM Global database. (Document ID: 1468593981).

Catherine Holahan, Arik Hesseldahl. (2008, March). Sirius and XM Get the Justice Go-Ahead. Business Week (Online) Retrieved May 21, 2008, from ABI/INFORM Trade & Industry database. (Document ID: 1450933951).
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Organizations Establish Rules for the Creation or

Words: 1762 Length: 4 Pages Document Type: Essay Paper #: 92181078

Organizations Establish ules for the Creation or Use of Accounting Information:

- Securities and Exchange Commission

- New York Stock Exchange

Internal evenue Service

Describe what kind of rules each makes, why they make them, and how they enforce them. Which organizations make laws, and which publish guidelines? What is the difference? What are the different consequences for those who bend various sets of rules? (Causey Enron case) How might Causey's defense be stronger or weaker under IFS guidelines rather than GAAP?

The rules that govern the three organizations may not be specifically made by that organization, but they are enforced by it. The Securities and Exchange Commission (SEC) is not a law or even rule making body, but the members do suggest legislation and, as one of its main functions, enforces the laws that have been passed by congress (SEC, 2012). The New York Stock Exchange (NYSE) is a…… [Read More]

References

Atwood, T.J., Drake, M.S., Myers, J.N., & Myers, L.A. (2011). Do earnings reported under IFRS tell us more about future earnings and cash flows? Journal of Accounting & Public Policy, 30(4).

Crovitz, L.G. (2008). Closing the information GAAP. Wall Street Journal. Retrieved from  http://online.wsj.com/article/SB122083366235408621.html?mod=hpp_us_inside_  today

Ernst & Young. (2010). U.S. GAAP vs. IFRS. Retrieved from  http://www.ey.com/Publication/vwLUAssets/IFRS_vs_US_GAAP_Basics_March_  2010/$FILE/IFRS_vs_US_GAAP_Basics_March_2010.pdf

Fowler, T., & Roper, J.C. (2005, Dec 28). Causey pleads guilty leaving just Skilling, Lay. Houston Chronicle. Retrieved from  http://www.chron.com/business/enron/article/Causey-pleads-guilty-leaving-just - Skilling-Lay-1943273.php#page-2
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Ethical and Legal Obligations in Financial Reporting

Words: 1865 Length: 4 Pages Document Type: Term Paper Paper #: 83102397

Ethical and Legal obligations in financial reporting is extremely important in today's world, fraught as it is with corporate frauds and accounting scams and scandals of every other sort. One Company, the Thornburg Investment Company, has taken a firm stand on financial reporting within its company, wherein all concerned officials are expected to report accurately, any actual, as well as suspected violations and breaches in the laws and rules and regulations of the company, to the appropriate personnel, immediately. (Code of Business Conduct and Ethics) Another Company, the 'Trinity Capital Corporation' stresses the importance of adhering to the rules and regulations created by the Company so that the company's loyalty to its numerous shareholders may be apparent. Where financial reporting is concerned, all the employees of the firm are expected to comply with the generally accepted rules laid down by the accounting principles of the United States of America, so…… [Read More]

REFERENCES

"Accounting Concepts, underlying assumptions, principles, and conventions" Retrieved From

 http://www.quickmba.com/accounting/fin/concepts  / Accessed on 20 June, 2005

"Business Conduct and Ethics Policy" Retrieved From

http://www.lanb.com/tcc/bcecharter.asp Accessed on 19 June, 2005
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Hedge Fund Regulation the Purpose

Words: 4816 Length: 18 Pages Document Type: Research Proposal Paper #: 47922899

In the first-round survey, a majority of investors cited diversification as their main objective in allocating to hedge funds. Among the second-round interviewees who were planning to increase their target allocations by 10% or more, half named diversification as the motivating factor. Among the approximately one in ten who were planning to decrease allocations by at least 10%, concern with a lack of transparency was the most frequently cited reason.

(4) Institutions are thinking and acting as long-term investors. While almost a quarter of second-round interviewees said they have liquidated some investments or plan to do so, overall the investors surveyed showed no inclination toward a long-term exodus from hedge funds. This is understandable, considering that 93% of all interviewees said they make hedge fund investments with a time horizon of at least three years, and more than half have a time horizon of five years or more.

(5) Investors…… [Read More]

Bibliography

Cumming, Douglas and Dai, Na (2008) Capital Flows and Hedge Fund Regulation. SSRN Journal. Online available at:  http://ssrn.com/abstract=1026683 .

Dawn, Ralph and Young, Chuck (2009) Testimony before the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises before the House of Representatives (2009) Orice M. Williams, Director of the Financial Markets and Community Investment. GAO Report. Online available at:  http://www.gao.gov/htext/d09677t.html 

Glovin and Scheer (2008) Madoff Charged in $50 Billion Fraud at Advisory Firm. Bloomberg.com. Online.

Hedge Funds Under the Microscope: Examining Institutional Commitment in Challenging Times. Greenwich Associates. Online available at: http://cdn.rsys1.net/ig.rsys1.net/responsysimages/seic/__RS_CP__/SEI_ HFs%20Under%20Microscope_Overview.pdf
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Mark to Market Accounting and

Words: 3061 Length: 10 Pages Document Type: Term Paper Paper #: 7061417

28)

This quotation shows how arbitrary MTM can be. Simply by terming Enron's cash shortage a sa minority interest as opposed to the proper term for it, debt, Enron was able to manipulate MTM to prevent such a sizeable loss from appearing on its balance sheet. Moreover, MTM's role in this transaction allowed Enron to repair its problem of a cash flow shortage since it credited $500 million via its sale of Treasury securities. The relative short duration in which Enron was able to take out a loan and repay it indicates how effective MTM was in providing Enron a favorable balance sheet, and in singled-handedly dancing around the reality of its shortages. Additionally, it also kept others (shareholders, stakeholders, not to mention its hard working employees) to know how tenuous an economic position the company was actually in.

In discussing Enron's MTM approach to accounting and the considerable role…… [Read More]

References

Batson, N. (2003). "Second interim report of Neal Batson, court appointed examiner." Enron Corp et al., v. Debtors.

Monks, R.G., Minnow, N. (2008). Corporate Governance. New Jersey: Blackwell Publishers. Retrieved from http://www.ragm.com/enron/accounting.html

Valdmanis, T. (2008). "Senate report blasts SEC's Enron oversight." USA Today. Retrieved from  http://usatoday30.usatoday.com/money/industries/banking/2002-10-06-sec_x.htm
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Rite Fraud When Grass Was CEO

Words: 3734 Length: 13 Pages Document Type: Term Paper Paper #: 73657513

ite Aid Fraud

Over the years, there have been numerous cases of financial fraud perpetuated within the organizational mainstream of major companies. Financial fraud is often a well-coordinated sort of white-collar crime that often -- but not always - requires complicity and collusion amongst financial accountants, top management and auditors. ite Aid came to the limelight after the U.S. Securities and Exchange Commission announced that it would be filing accounting fraud charges against the company in 2002

Meanwhile, the United States Attorney for the Middle District of Pennsylvania leveled similar criminal charges accusing former CFO Frank Bergonzi, former CEO Martin Grass and former Vice Chairman Franklin Brown of perpetuating an immense accounting fraud scheme

. Compounding the crisis, according to former ite Aid COO, Timothy Noonan, were years of legal coaching amongst staff and mid-level employees. As investigations ensued, evidence of fraudulent manipulation of accounts, corporate malfeasance, and financial overstatement…… [Read More]

Reference List

Carlin, Wayne M. & Pennington, Nelson "SEC Announces Fraud Charges Against Former Rite Aid Senior Management" Security and Exchange Commission 2002

Federwisch, Anne Exploring Ethical Lapses during the Rite Aid Crisis Santa Clara University: Center for Allied Ethics, 2002

Jennings, Marianne Seven Signs of Ethical Collapse: How to Spot Moral Meltdowns Before it's Too Late Arizona State University W.P. Carey School of Business, 2007

Carlin, Wayne M. & Pennington, Nelson "SEC Announces Fraud Charges Against Former Rite Aid Senior Management" Security and Exchange Commission 2002
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Reporting of Capital and Operating Leases and

Words: 1730 Length: 6 Pages Document Type: Term Paper Paper #: 59747766

reporting of capital and operating leases and their impact on fair value measurements. The essay surveys lease accounting standards from 1976 thru the present.

The basic principle of lease accounting is that some leases are merely rentals, while others are in effect purchases. U.S. regulations that specify lease accounting rules are issued by the Financial Accounting Standards Board (FASB). The primary FASB statement on leases was Number 13, issued in 1976, and is also known as FAS 13, SFAS 13 and FASB 13. Over the years it has been amended several times by additional FAS, including FAS 22, FAS 23, FAS 27, FAS 28, FAS 29, FAS 98, and FAS 121. In addition to financial accounting standards, various interpretations and technical bulletins have also been issued to provide additional guidance. Lease accounting rules were previously labeled as section L10 in the FASB Current Text, while the new FASB Codification uses…… [Read More]

Works Cited

Epstein, Barry J. "Accounting for Leases IFRS vs. GAAP. " IFRS Accounting. 2011. 16 September 2011. .

"History of Lease Accounting (Agenda Paper 2)." Joint International Working Group on Leasing. International Accounting Standards Board and Financial Accounting Standards Board. London. 15 February 2007.

"Leases (Topic 840)." Financial Accounting Standards Board. August 17, 2010: 1. Financial Accounting Foundation. 2011. 16 September 2011. .

"Lease Accounting Rules." Financial Computer Systems, Inc. 2007. 16 September 2011. .
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Imclone Case

Words: 656 Length: 2 Pages Document Type: Research Paper Paper #: 30202211

Clone case came to the attention of the SEC because it involved the CEO of ImClone, Sam Waksal, who had the same stockbroker as Martha Stewart, and the two were friends. Waksal found out at about an FDA ruling that was going to negatively affect the value of ImClone shares, and sold his shares on the basis of this information. That alone is insider trading, because Waksal was in a privileged position within the company, and traded on information that had yet to be released publicly. The relationship between Waksal and Stewart, along with the broker, brought the case to the attention of the SEC. Undoubtedly, the high profiles of the individuals involved was a factor.

The specific issue here was insider trading, yet ultimately Stewart was never convicted on that. Waksal was, because he was the insider. Stewart was in a position to receive this privileged information, but she…… [Read More]

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Managerial Finance as of the

Words: 855 Length: 3 Pages Document Type: Thesis Paper #: 62398341

33% on the 2013s; 27.78% on the 2018s 16.67% on the 2028s and 22.2% on the 2038s.

Using market value the weighted-average cost of debt is 6.798%. The weights are 35.42% on the 2013s; 28.39% on the 2018s; 16.14% on the 2028s and 20.03% on the 2038s. Thus, it does make a difference if book or market value weights are used. In this case, the market value weights skew more towards the short maturities, which have the lowest yields. This gives the weighted-average cost of debt for market value weights a slightly lower figure.

5) by book value, the weight for debt is 30.85% and equity 69.45%. This gives a weighted average cost of capital of:

e (Re) + d (Rd) (1 - T) =.6945(9.94) + (.3085)(6.854)(.65) = 8.277%

By market value, the weight for debt is 7.345% and the weight for equity is 92.645%. This gives a weighted average…… [Read More]

Works Cited

Dell Computer Form 10-Q for Quarter ended October 31, 2008. Retrieved December 26, 2008 at http://idea.sec.gov/Archives/edgar/data/826083/000095013408021635/d65443e10vq.htm

Dell Computer Form 10-K for Year ended February 1, 2008. Retrieved December 26, 2008 at http://idea.sec.gov/Archives/edgar/data/826083/000095013408005718/d55156e10vk.htm

Yahoo! Finance. Retrieved December 26, 2008 at  http://finance.yahoo.com/q?s=dell 

Dell bond rates from FINRA. Retrieved December 26, 2008 at http://cxa.marketwatch.com/finra/BondCenter/SearchResult.aspx?q=DELL
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Lakes Tax Research Memo Personal Injury Winning

Words: 820 Length: 3 Pages Document Type: Essay Paper #: 26060661

Lakes

Tax Research Memo

Personal Injury winning treatment and other issues research

XYZ CPAs

NearLakes City

John Smith tax issues

Treatment for purposes of Federal Tax Income of $300,000 fee received out of the amount awarded by Jury.

Applicable Law:Any winnings in a personal injury lawsuit that cover the treatment of physical injuries are not taxable except for attorney fees which are taxable. IRC SEC 104(a)(2).Taxability also depends upon the place of residence of the taxpayer.

$300,000 received by John Smith as fees from jury award is taxable for federal tax income purposes.

Treatment for purposes of Federal Tax Income of $25,000 expenses paid upfront and received out of the amount awarded by Jury.

Applicable Law: Any winnings in a personal injury lawsuit that cover the treatment of physical injuries are not taxable except for attorney fees which are taxable. IRC Sec 104(a)(2).Any expenses can be claimed as a deduction.Taxability…… [Read More]

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Health South Was Under Pressure

Words: 692 Length: 2 Pages Document Type: Case Study Paper #: 17146004

Earnings were strong for employees as well as shareholders. Many employees owned stock or were dependent upon a rising balance sheet to ensure that they received their bonus and salary. Additionally, as at HealthSouth, there can be kind of a 'groupthink' effect, where people assume that something is 'okay' because everyone else, including powerful upper-level managers, are 'doing it.'

There are a number of laws that protect whistleblowers. The Dodd-Frank Wall Street eform and Consumer Protection Act was established to encourage individuals to report financial fraud to the SEC (Securities and Exchange Commission). ecognizing the profound financial sacrifice many whistleblowers make, Section 922 of the Dodd-Frank Act mandates that the SEC reward individuals who provide original information that results in sanctions in excess of $1 million in civil or criminal proceedings against the offending company (Oswald & Zuckerman 2010).

In a HealthSouth-like situation, being a whistleblower is not simply a…… [Read More]

References

Capitalize definition. (2010). Investopedia. Retrieved December 17, 2010 at  http://www.investopedia.com/terms/c/capitalize.asp 

Kelley, Pat. (2010). Definition of depreciation in accounting. Retrieved December 17, 2010 at http://www.ehow.com/about_7237480_definition-depreciation-accounting.html

Oswald, R. Scott & Jason Zuckerman. (2010). Whistleblower provision of the Frank-Dodd Act.

Employment law group. Retrieved December 17, 2010 at  http://www.employmentlawgroup.net/Articles/ROswald/DoddFrankWhistleblowerProvisions.html
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Financial Fraud Fannie Mae Review of Fraud

Words: 1285 Length: 4 Pages Document Type: Case Study Paper #: 18898066

Financial Fraud Fannie Mae

eview of Fraud Schemes within Fannie Mae 1998-2004

Scope

The agency found the fraud understatements of earnings and illegal gratuities that led to accounting violations and inability to meet Wall Street goals.

The investigation of Lee Frakas, executive of a major mortgage company which had dealings with Fannie Mae with hundreds of fake mortgages. The Securities Exchange Commission cited that Fannie Mae had to repay earnings and correct their books for the period 2001 through 2004. This major undertaking will cost the company over $11 billion by SEC estimates. In addition the Department of Justice has conducted a criminal investigation on the board members.

Summary

The top executive managing Fannie Mae were found guilty of illegally reporting accounting information that led to their receiving million dollar payments. Under Fraudulent Financial Statement Schemes this case is one of corruption and financial fraud. The specific areas include Illegal…… [Read More]

References

Associated Press. (2006). Fannie Mae manipulated accounting. Retrieved January 19, 2012 from  http://www.msnbc.msn.com/id/12923225/ns/business-corporate_scandals/t/report-fannie-mae-manipulated-accounting/# 

Schoenberg, T. (2011). Silence on taylor bean opened the way to $3 billion fraud. Retrieved January 19, 2012 from  http://www.freerepublic.com/focus/f-news/926704/posts
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Business Law A Robert Sold

Words: 586 Length: 2 Pages Document Type: Case Study Paper #: 77242715

O'Hagan, the SEC could successfully bring a lawsuit against Leo for damages in connection with his purchase of the shares.

Larry was not bound by fiduciary duty to Hawke. As such, the higher standard of Chiarella v. United States applies. While this 10b-5 rule applies to deliberate omission, Larry may or may not have known specifically about Leo's relationship with Hawke. Legally, however, the SEC still has recourse. The broker in the ImClone case, Peter Bacanovic, received a conviction for trading on Sam Waksal's inside information. The same legal standard is likely to apply to Larry as well, since he is a broker. There is a question as to whether this standard would apply to Foster in the case involving Howard, as he is less likely to have known that his omission constituted a fraud. For Howard, however, his position makes it evident that he knew he was committing a…… [Read More]

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Accounting Discontinued Operations Depreciation and

Words: 1029 Length: 4 Pages Document Type: Term Paper Paper #: 32138199

As required under Statement of Financial Accounting Standards No. 144, Accounting for the Impairment or Disposal of Long-Lived Assets, WB must evaluate the carrying value of PC and T. against the fair value, as determined by the market capitalization of the two companies at the official spin-off date. In this case, both PC and T. will qualify as discontinued operations because after the confirmation of the transaction neither will be a part of the business or parent company.

WB maintains a March 31 end of year and the stock sale was dated May of 2000 which may cause a reporting concern. It is crucial that WB reports these events properly for the sake of accuracy. WB will be responsible to verify if any changes occur in their end of year reporting under SFAS No. 131. "The registrant, in consultation with its counsel, is responsible for determining whether a fundamental change…… [Read More]

References

SEC Regulations Committee. (June 12, 2001). Section C - Changes in Segment Reporting. Joint Meeting with SEC Staff. Retrieved on February 7, 2005, at http://preview.aicpa.org/belt/sec06_01.htm

Yungmann, George, & Taube, David. (Jul/Aug 2002). GAAP Net Income Measures Up. Retrieved on February 7, 2005, at  http://www.nareit.com/portfoliomag/02julaug/accounting.shtml 

Accounting
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New Initiatives Company Initiative Analysis of New

Words: 1287 Length: 4 Pages Document Type: Essay Paper #: 95563319

New Initiatives

Company Initiative Analysis

Analysis of New Initiative by Office Depot

Office Depot is a company that was incorporated in 1986, and that year opened its first store in Fort Lauderdale, FL that year (Office Depot, 2012). The company has continued to expand during the past 26 years and continues that tradition by initiating plans to move even farther with its international business. According to one portion of the company website "In addition to doing business in 47 countries, Office Depot has over 1,500 retail locations across the globe. In the U.S., Office Depot has stores in 49 states with 34 Distribution Centers or Crossdock facilities scattered across the country" (Office Depot, 2012). However, this global acquisition and expansion is currently only in the early stages. The company has plans to expand its reach in the United States and abroad by partnering with similar firms in other parts of…… [Read More]

References

Bamberger, K.A. (2006). Regulation as delegation: Private firms, decision making, and accountability in the administrative state. Duke Law Journal, 56(2), 377-401

Barney, J.L. (2009). Beyond economics: The U.S. recognition of international financial reporting standards as an international sub-delegation of the SEC's rulemaking authority. Vanderbilt Journal of Transnational Law, 42(2), 579-603.

Office Depot. (2012). About Office Depot. Retrieved from  http://www.officedepot.com/specialLinks.do;jsessionid=0000zrmplRyf8g9zFPQls  FpbrAe:13ddpq53l?file=/companyinfo/companyfacts/index.jsp&template=compan yInfo

Patukhov, O. (2009). Going where no taxman has gone before: Preliminary conclusions and recommendations drawn from a decade of debate on the international taxation of e-commerce. Rutgers Computer & Technology Law Journal, 36(1), 1- 24.
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Financial Statements of Barnes and Noble and

Words: 647 Length: 2 Pages Document Type: Essay Paper #: 72367576

financial statements of Barnes and Noble and Borders Group for fiscal year 2009. The companies' statements provide information about their financial health, as well as discuss plans for the coming fiscal year.

The balance sheet reveals detailed information about each company's assets, liabilities and owners' equity (net worth). It is based on the accounting equation Assets = Liabilities + Stockholders' Equity; the two sections of the balance sheet must equal each other just as they do in the equation. This equation represents the basic accounting premise: assets, the means used to operate the company, are balanced by a company's financial obligations, along with the equity investment brought into the company along with its retained earnings (Investopedia, n.d.).

As both the Barnes and Noble and Borders Group statements show, there are four main financial statements:

The balance sheet, which shows what a company owns and what it owes at a fixed…… [Read More]

Works Cited

Investopedia Staff (n.d.). Reading the Balance Sheet. Retrieved on 4/6/2011 from  http://www.investopedia.com/articles/04/031004.asp 

U.S. Securities and Exchange Commission. 2007. Beginners' Guide to Financial Statements. Retrieved on 4/6/2011 from  http://www.sec.gov /investor/pubs/begfinstmtguide.htm" target="_blank" REL="NOFOLLOW">
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Role of Ethics and Compliance

Words: 591 Length: 2 Pages Document Type: Thesis Paper #: 25315965

The 2009 Annual eport for instance argues that the company was "in compliance with the only financial covenant in both credit agreements, which requires us to maintain a coverage ratio of at least three times earnings before interest, taxes, depreciation, and amortization to interest expense. No amounts were drawn against these credit facilities during the year ended June 30, 2009."

Compliance is also emphasized upon in terms of ownership issues. From this standpoint, all of the Microsoft shareowners of more than 10 per cent, all executive officers and all directors develop reports on their owned parts, as well as changes in ownership. The reports are constructed on vast and accurate information and verified. They are written as part of the strategy of compliance with the sections and demands of the Securities and Exchange Commission. The analysis of all information available against the constructed reports leads to the belief that the…… [Read More]

References:

Microsoft 2009 Annual Report,  http://www.microsoft.com /msft/default.mspx last accessed on January 7, 2010

2009 Proxy Statement,
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Smith & Smith 2003 Ethics

Words: 2266 Length: 7 Pages Document Type: Case Study Paper #: 67552447



In terms of the employees, a system should be made available to provide them with the confidence to report any suspected fraud within the company. This should occur on a confidential basis to prevent situations such as those of Employee 1 above. The employee was fully aware of the fraud and felt that it was unethical, but was reluctant to report it because of the lack of adequate systems by means of which to do so. Managers and employees alike should be aware of this reporting system, and therefore encouraged to report any suspected misconduct.

This is not to say that company loyalty should not be an important part of the company's operations. Employees should be encouraged to be loyal to the company and to take pride in the work they do. Without such loyalty and pride, the work that employees perform will not adhere to the necessary standards of…… [Read More]

Sources

Eikner, E. (2004). Accounting Principles for Ethics Cases. www.txstate.edu/slac/business/accounting/AccPrnEC.doc

Schweikart, James A. Cognitive-Contingency Theory and the Study of Ethics in Accounting. Journal of Business Ethics. http://www.springerlink.com/content/t45u3v4mj2876pn2/fulltext.pdf

Smith, Katherine T. & Smith, L. Murphy. (2003, June 21). Business and Accounting Ethics. http://acct.tamu.edu/smith/ethics/ethics.htm
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Disclosures Reflect a Company's Accounting

Words: 512 Length: 2 Pages Document Type: Essay Paper #: 35492611

However there is a huge difference after these lines. Morgan quickly wraps it up saying that controls were deemed effective while Citigroup goes on to add who is responsible in the company for ensuring the effectiveness of the procedures. This additional bit of information gives a reader the feeling that the company cares about its disclosure statement and wants to be seen as a responsible firm. Morgan seemed uninterested in this additional information. Even the ending for both are though similar yet for Citigroup it's more thorough and for Morgan, it ends in two lines.

See how the two companies end their disclosures: Citigroup Inc. says, "The Company's management, with the participation of the Company's Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of the Company's disclosure controls and procedures (as defined in Rule 13a-15 (e) under the Exchange Act) as of December 31, 2005 and, based…… [Read More]

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Michael Porter the Only Way

Words: 1689 Length: 6 Pages Document Type: Term Paper Paper #: 33186444

What are five steps in building a Web Service?

The five steps in building a web service are:

Exposing the code

Writing a service description

Publishing the service

Finding the service

Invoking a Web service d. What is a quick-hit DSS? Define three types quick-hit DSS is a computer-based system that allows decision makers to interact directly with data and analysis models. Three types include data mining, executive information systems, and expert systems.

Question 8 a. Describe three kinds of knowledge representation

One kind of knowledge representation has knowledge as cases. This involves comparing a current case with many other past cases. A second kind of knowledge representation involves neural networks. This involves storing knowledge as nodes in a network. The third form of knowledge representation stores knowledge as rules, where the rules are obtained from experts, laws, or experience.

b. What is a smart tag and how might it…… [Read More]

References

Lawlor, S.C. (2004). Computer Information Systems. Forth Worth, TX: The Dryden Press. http://www.geocities.com/gqboy1212/***/questions.htm
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Sarbanes Oxley Memo

Words: 683 Length: 2 Pages Document Type: Term Paper Paper #: 71162534

accounting discipline has taken a public relations beating over the past few years as a result of scandals in corporate accounting; much of this abuse has been well-deserved. Regulations regarding conflicts of interest, independent monitoring, reporting, and full disclosure to stockholders were thin at best, and in many cases were not enforced even when they did exist. The corporate accounting scandal wave changed that; public outcry for accountability resulted in Congress passing the Sarbanes-Oxley Act of 2002. This act contains many new regulations that have a profound effects on publicly traded companies, and that will directly affect this team and your corporation.

First, a quick summary of the actors involved: the FASB, or Financial Accounting Standards Board, and the Securities Exchange Commission, or SEC, have a mutually reciprocal relationship. The FASB issues standards regarding accounting standards which the SEC enforces; although the FASB is not an official government body (it…… [Read More]

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Economic Globalization Over the Past Twenty Years

Words: 681 Length: 2 Pages Document Type: Essay Paper #: 51226549

economic globalization over the past twenty years sparked demand for a single, worldwide set of high-quality accounting standards" (Benjamin 2012). The SEC's allowance for American companies with international holdings to use IFS supports convergence to some extent by providing an incentive for filers to use IFS. Companies that use IFS can be compliant with both U.S. And international filing requirements, without having to keep 'double books.' All firms with an international scope are now likely to consider using IFS because of its compatibility with U.S. And worldwide standards. Given the globalization of the economy, even small and mid-sized U.S. organizations may begin using IFS, which will make firms which use GAAP more isolated. Convergence will be facilitated, with a likely bias in the new, universal standards towards using IFS with minor (or no) modifications.

Q2. The EU is one of the most powerful trading blocks in the world. The wholesale…… [Read More]

References

Benjamin, Michael. (2012). IFRS convergence: What it means and where it stands. BPM.

Retrieved:

 http://www.bpmcpa.com/Library/IFRS-Convergence-Update-Feb-2012.asp#.UT_JkFesf5N 

Schneider, Bob. (2013). Accounting basics. Investopedia. Retrieved:
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Strategy in Quality Footwear

Words: 1882 Length: 5 Pages Document Type: Essay Paper #: 75756946

Strategic Management EVISED

Crocs Inc. is a publicly traded corporation on the NASDAQ under the symbol COX: the company completed its initial public offering in February of 2006, and is thus a little over eight years old. The Colorado-based company is known primarily for its brightly-colored foam-based shoes, which were first manufactured in 2002 as footwear for beaches and spas, but which quickly expanded. The company went public at the precise moment when its popularity with consumers was experiencing explosive growth, and thus the eight years as a publicly-traded corporation have been difficult and tumultuous. At its peak in 2006, shortly after the initial public offering, shares of Crocs Inc. traded at over sixty dollars apiece; in 2014, shares now trade at less than thirteen dollars apiece (Mattoli & Spector, November 2013, para.2). However, because of the limitations inherent in Crocs' business model, the company makes an excellent case study…… [Read More]

References

Chu, K. (April 11, 2013). Crocs expands foothold in Asia. Wall Street Journal.

Crocs, Inc. (2014). Annual report on Form 10-K for the year ended December 31, 2013.

Crocs Inc. (2011, June). Ocean minded: Our mission statement. Retrieved from:  http://company.crocs.com/brands/ocean-minded/ 

Freeman, RE. (2010). Strategic management: A stakeholder approach. Cambridge: Cambridge University Press.
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Ethics in Businesses Over the

Words: 987 Length: 3 Pages Document Type: Book Review Paper #: 87208268

(Ferrel, Fraedrich, & Farrel, 2009)

How will the implementation of the Sarbanes-Oxley Act of 2002 prevent future dilemmas in Tyco?

Sarbanes-Oxley increases: the penalties for such actions, limits the role that the board of directors will have with managers, it creates an accounting oversight board and it requires the CEO / CFO to certify under oath that all financial information is correct. This will severe as a deterrent and help to provide mechanisms, to the prevent ways that the fraud was able to be perpetuated at Tyco. (Ferrel, Fraedrich, & Farrel, 2009)

Can the SEC trust Tyco's new board?

Yes. This is because those members who were involved with Kozlowski were purged and none of the current members have committed any acts of wrong doing. These facts along with the Sarbanes-Oxley in place, means, that there is no reason for the SEC not to trust the board. (Ferrel, Fraedrich, &…… [Read More]

Bibliography

Ferrel, O., Fraedrich, J. & Farrel, L. (2009). Business Ethics: Ethical Decision Making and Cases. Boston, MA: Houghton Mifflin.
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Sony -- Chapter 2 Financial

Words: 530 Length: 2 Pages Document Type: Thesis Paper #: 66148805

Also, on April 1, 2004, Sony recognized a charge of 4,713 million yen (net of income taxes of 2,675 million yen) as a cumulative effect of an accounting change. (Form 20F Year Ended Mar. 31, 2008)

2.1.2.4 During the quarter ended December 31, 2004 Sony adopted EITF Issue No. 04-8 which requires that the maximum number of common stock that could be issued upon the conversion of contingently convertible debt instruments be included in diluted EPS computations from the date of issuance regardless of whether the conditions to exercise the stock acquisition rights have been met. As a result of the adoption of EITF Issue No. 04-8, Sony's diluted, Sony's diluted EPS of income before cumulative effect of an accounting change and net income for the fiscal year ended March 31, 2005 decreased by 7.26 yen and 7.06 yen, respectively, as a result of adopting EITF Issue No. 04-8. (Form…… [Read More]

Bibliography

Documents submitted to the SEC (EDGAR) Form 20F and others.  http://www.sony.net/SonyInfo/IR/library/sec.html
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Worldcom-Mci Case Analysis - Worldcom-Mci

Words: 2813 Length: 10 Pages Document Type: Research Proposal Paper #: 41303171

The first three organizations in line to recuperate their funds were Citigroup, J.P. Morgan and General Electric Group. They had been offering financial solutions and encouragement to purchase the WorldCom stock based on a favorable business relationship. However, at the time when bankruptcy procedures were commenced, the three organizations recognized their losses and intended to recuperate them.

A succinct presentation of the period surrounding the crisis could be reveled by the media stories:

27 June 2002 - information on the people affected by the WorldCom crisis become available - about 60 banks across the globe had granted loans to the organization or purchase bonds

27 June 2002 - SEC charges the organization with fraud and three organizational leaders are subpoenaed before a governmental committee

28 June 2002 - John Sidgmore announced a cut in costs by $1 billion and the downsize on 17,000 employees

U.S. President George Bush condemns organizational…… [Read More]

References

Cooper, C., 2008, Extraordinary Circumstances: The Journey of a Corporate Whistleblower, John Wiley and Sons Inc.

Eichenwald, K., August 8, 2002, for WorldCom, Acquisitions Were Behind its Rise and Fall, New York Times

Faber, D., September 8, 2003, the Rise and Fraud of WorldCom, CNBC

McCafferty, J., July 2004, Extreme Makeover: How Robert Blakely and an Army of Accountants Turned Fraud-Ridden WorldCom into Squeaky-Clean MCI, CFO, No. 46
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Politicization of Standard Setting History

Words: 478 Length: 1 Pages Document Type: Term Paper Paper #: 49333153

Investors want to know how a stock will perform in the future, not just its historical value and capital maintenance expenses.

hat arguments can be raised against the "politicization" of accounting standard setting?

One accountant believes that the FASB "has outlived its usefulness and that the SEC, adequately funded, should exercise its 1934 mandate and take full control of accounting standards. Furthermore, the SEC should also reaffirm the use of historic cost as the measurement base, and the basic need for the attestation by an independent public accountant as to the stewardship of management," in short that accountants should serve the public good (the public good including the shareholder's 'good) and the public good does not gain a really good assessment of future performance, because too many subjective variables are present in the portrait of corporate health created by current accounting policies (Flegm, 2005). The "FASB does not recognize that…… [Read More]

Works Cited

Flegm, Eugene H. (2005, Dec). "Accounting at a Crossroad." CPA Journal. Retrieved 9 Sept 2007 at  http://www.nysscpa.org/cpajournal/2005/1205/infocus/p16.htm
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Accounting Convergence the State of

Words: 608 Length: 2 Pages Document Type: Research Proposal Paper #: 52900563



Purpose/Perceived Value

The findings of this report will be valuable to two different audiences. The first consists of accounting regulatory bodies. These bodies are working towards convergence and are presently struggling with the resistance from the business community. Understanding the nature of that resistance is key to finding ways of overcoming it. For the large publicly traded corporations themselves, this report will help them understand why they and their peers are resistant, and this will shed light on whether or not that resistance is justified. Convergence is coming whether the corporate world is ready for it or not, but the key for corporations is to understand what convergence is, why it is important, and which elements of their resistance are not worth the effort. For both parties, it is important to work together to make the convergence process as smooth as possible, and that is going to take a greater…… [Read More]

Works Cited:

Qu, X. & Zhang, G. (no date). Measuring the convergence of national accounting standards with International Financial Reporting Standards: The application of fuzzy clustering analysis. Xiamen University. In possession of the author.

Larson, R. & Street, D. (2004). Convergence with IFRS in an expanding Europe: Progress and obstacles identified by large accounting firms' survey. Journal of International Accounting, Auditing and Taxation. Vol. 13 (2004) 89-119.

AICPA. (2011). International Financial Reporting Standards (IFRS): An AICPA backgrounder. American Institute of CPAs. In possession of the author

AICPA (2010). Financial system considerations in IFRS conversion projects. American Institute of CPAs. In possession of the author.
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Burlington School Comm v Mass Department of ED 1985

Words: 1681 Length: 5 Pages Document Type: Case Study Paper #: 9892620

Burlington School Comm. V. Mass. Dept. Of Ed. (1985)

Compensation for learners with extraordinary requirements that is not provided in the states education laws bring costs to parents and the laws do not provide for compensation of this. Termed 'compensatory education' courts have exercised their jurisdiction in awarding costs to claimants and the courts have been relying on sec.20 USC 1415(2) (B) (ii) for students. The Burlington School Committee V Massachusetts Dept. Of Education 1984 heralded the change in the definition and eligibility for the compensatory education. The salient awards pertain to the recognition of the power of courts to grant reimbursement to the applicants from private school education that was not included in the 'Individuals with Disabilities Education Improvement Act' -- IDEA.

Following this judgment, courts held that where the parent was able to afford the private school education, the reimbursement was shown to be the remedy. Further, for…… [Read More]

References

Luker, Tricia; Calvin. B. (2011) "Compensatory Education" Retrieved 14 February, 2012

fromhttp://www.bridges4kids.org/pdf/Luker/CompensatoryEd.pdf

Rothstein, Laura F. (2002) "Disability law: cases, materials, problems"

LexisNexis.
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Walmart Corporation Mission and Vision Statement Analysis

Words: 1450 Length: 5 Pages Document Type: Essay Paper #: 71718077

WalMart Corporation

Mission and Vision tatement Analysis

Linking Wal-Mart's Mission and Vision to Their trategic Goals and Objectives

Assessing the Link Between Wal-Mart's Financial Performance And Its trategic Goals

Wal-Mart Competitive and Marketing Analysis

Wal-Mart Marketing Analysis

Potential Wal-Mart Merger & Acquisition trategy

Incentive and Reward trategies for Wal-Mart Employees

Evaluating How Current trategies Define Ethicacy Levels at Wal-Mart

Wal-Mart Ratio Analysis

Income tatement Analysis, 2007 -- 2012

Analysis of WalMart Corporation

Mission and Vision tatement Analysis

All internal systems, processes, external stakeholder management initiatives, supply chain management, sourcing, quality management and merchandising initiatives in WalMart revolve around the fulfillment of the expectations they create with their customers daily. Their Low Price Everyday (LPED) value proposition permeates their entire value chain, galvanizing it around the mission of delivering exceptional value on a consistent basis to customers. The mission and vision of WalMart rely on LPED as the catalyst and unifying…… [Read More]

Sources: (Wal-Mart, 2012) (Sodhi, Son, 2009) (Gosman, Kohlbeck, 2009)

Selecting the Best Possible Strategy for Maximizing Return to Shareholders

For WalMart to deliver the greatest potential value to shareholders, they need to pursue a mid-tier market strategy that differentiates store product
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Staples Full Analysis of Staples for 2012

Words: 584 Length: 2 Pages Document Type: Essay Paper #: 10496276

Staples

Full Analysis of Staples for 2012

Throughout 2012, Staples has been in the process of going through a major restructuring. This is because the firm is experiencing challenges associated with the fiscal cliff, intense competition from rivals and stagnant consumer spending in key markets (most notably: North America, Australia and Europe). ("Staples Inc.") This is illustrating how the company has been dealing with major challenges that are hurting their business model.

Valuation Analysis

The valuation analysis reveals that, the company is unstable. This is because they are having trouble adjusting with the difficult economic environment. It has an average PE ratio of 10.25. On the surface, this appears to be undervalued. However, the company has been lowering guidance citing difficult conditions in North America, Australia and Europe. As a result, Value Line has the stock listed as underperform for 2013. ("Staples Inc.") ("Staples Inc. Data")

Capital Structure and Impacts…… [Read More]

Works Cited

"Capital Structure." Business Dictionary, 2013. Web. 5 Mar. 2013

"Staples Inc." Value Line. New York: McGraw Hill, 2012. Print.

"Staples Inc. 10 K." SEC, 2012. Web. 4 Mar. 2013.

"Staples Inc. Data." 2012.