Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
In "Behind the Wave of Corporate Fraud: A Change in How Auditors Work," the Wall Street Journal detailed several of the recent accounting scandals and the techniques management used to deceive both the auditors and the investing public. The article focused on audit techniques that contributed to the ability of management to undertake deceptive practices. For example, WorldCom reclassified ordinary expenses as assets, which the auditors missed because there was "no supporting documentation"; Tyco International, charged with inflating profits by over $1 billion, left "warning signs" that were not followed up on by auditors; and HealthSouth Corporation pulled it off by inflating the dollar amounts of a large number of small revenue recognition transactions because they "knew the auditors did not look at increases of less than $5,000."
REQUIRED:
a. Explain how WorldCom showed higher profits in the current period by inaccurately classifying expenses as assets. How would this technique affect the profits of future periods?
b. Explain why management may be tempted to inflate profits in the current period.
c. Explain why auditors might not check transactions below a certain dollar amount.
d. How could high-quality internal controls have helped in avoiding these frauds?
1. what are the sources of funds for a corporation and what are the costs of those components of funds?2. how a
My question is if the US expects to raise prices by 3% within the next year and in Switzerland prices may rise 7% at the same time,
From the perspective of a senior business executive, are cash dividends paid to shareholders good or bad, or both good and bad? How did you come to this conclusion?
Discuss how each of these non-operating items influenced the basic accounting equation, and compute Merck's net operating income for the three years. Comment on Merck's earnings trend.
design and defend an optimal performance appraisal system for your current position or for one to which you aspire. the
under what circumstances will residual scores be large? points 1nbspnbspnbspnbspnbspnbsp whenever sample sizes are
You have a choice of borrowing money from a finance company at 19% compounded daily or borrowing from a bank at 21% compounded weekly. Which alternative is the most attractive? If you can borrow funds from a finance company at 19% compounded daily
to find the crossover rate we subtract the cash flows from one project from the cash flows of the other project. here
1.allow the user to input the current price of the bond as a percentage of par with 3 decimal places usewhole numbers
Additionally, describe your future career goals and what steps you need to take reach those goals, including plans to pursue a degree in higher education.
PonchoParts, Inc. manufactures reproduction parts for classic cars. The firm needs a computer-operated turret lathe that costs $440,000. It can borrow at 9.5%.
Calculate the project cash outflow in year 0 (initial outlay). Calculate annual operating cash flows for year 1-5 (OCF). Calculate the project's terminal cash flow in year 5 (TCF). Calculate the project's NPV, IRR.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd