The following answers are based on the SEC’s Litigation Release No. 20470 and related press releases associated with the fraud at Bally Total Fitness Holding Corporation: a. According to the SEC press releases and Litigation Release No. 20470‚ Bally fraudulently accounted for three types of revenue it received from members: initiation fees‚ prepaid dues‚ and reactivation fees. Initiation fees: Bally fraudulently and prematurely recognized revenue from initiation fees. Part of the price of a
Premium Contract Audit Income
com/locate/bar What do we know about audit quality?* Jere R. Francis* University of Missouri—Columbia‚ 432 Cornell Hall‚ Columbia‚ MO 65211‚ USA University of Melbourne‚ Victoria‚ Australia Abstract This paper reviews empirical research over the past 25 years‚ mainly from the United States‚ in order to assess what we currently know about audit quality with respect to publicly listed companies. The evidence indicates that outright audit failure rates are infrequent‚ far less than 1% annually‚ and
Premium Auditing Audit Auditor's report
Student essay Question: To what extent does the quality of a society depend upon the quality of its leader(s)? It is evident that leaders have a lot of influence in societies. Leaders are considered as people who guide and direct a particular group of people who are related to each other through persistent relations such as social networks. Whatever qualities that the leaders have will shape the society at large. These relates to the values and the principles that they keep. Indeed‚ this
Premium Nigeria Sociology Indian independence movement
1. What qualities should an effective leader possess? “I suppose leadership at one time meant muscles; but today it means getting along with people.” The pre-eminent spiritual leader of India‚ Mohandas K. Gandhi‚ tells us what leadership really is – being a people person. Leaders are not those who achieve success by underhand methods‚ but they are the ones that understand his followers before undertaking the difficult job of leadership. Certain qualities are necessary to help effective leaders understand
Premium Skill Leadership Management
1. "What to an uninformed observer may look like a world of chaos and mindlessness is to the child the serious work of creating a personal existence" (Ayers‚ 1989‚ p. 28). Based on your reading of Chapters 2 and 3 of The Good Preschool Teacher‚ describe two goals of a quality infant/toddler care and education program and two ways caregivers/teachers can help reach such goals. Two goals of quality care programs and reaching those goals include: Ensuring cultural congruency & ensuring that professionals
Premium Education Psychology Developmental psychology
Director of RL Wolfe’s of production and Engineering. This case study was about the introduction of the concept of self-directed teams into a newly rehabbed plant in Corpus Christi‚ Texas in 2004. The analysis took place after 4 years of initial implementation of the SDT structure. Amasi expected after the implementation of SDT’s the Corpus Christi plant would achieve high productivity. Self –directed teams are small groups of employees responsible for an entire work process or segment‚ expected by some
Premium Design Implementation Management
THE UNIVERSITY OF THE WEST INDIES Name: Faheema Kareema Baksh I.D. #: 811001905 Course: Introduction to Engineering- MENG1006 Plant Visit Report National Flour Mills Limited Plant Visited On 13th October‚ 2011 Report Due On 14th November‚ 2011 Contents Abstract The purpose of this report is to relate what was learned when the engineering student had a site visit to National Flour Mills Limited‚ a company which specialises in the manufacturing of flour and other staple
Premium Flour Wheat Occupational safety and health
Meeting 1 MRF’s File COST ACCOUNTING “An Introduction to Cost Terms and Purposes” Assistant Lecturer: M. Ryan Firmansyah Problem 1 (Quiz 1 September 8‚ 2009) Consider the following costs that were incurred during the current year. Evaluate whether the cost is: 1. A product cost or a period cost 2. Variable or fixed in terms of behavior 3. For the product cost‚ whether it is classified as direct material‚ direct labor‚ or manufacturing overhead No. 1 Descriptions Product Cost Period Variable
Premium Accounts receivable Manufacturing Inventory
Project managers must take cost estimates seriously if they want to complete software projects within budget constraints. After developing a good resource requirements list‚ project managers and their software development teams must develop several estimates of the costs for these resources. There are several different tools and techniques available for accomplishing good cost estimation. Software development project managers should prepare several types of cost estimates for most projects. Three
Premium Project management Cost
MAIN ISSUE A part from reading the Danshui Plant No.2 case‚ we can see that there is no enough information to evaluate the performance of the pant for the first three contracts to assembly Apple iPhone 4. Analysis of the issue To get a clear picture a flexible budget was prepared for the month end of August 2010. (Shown in the table below) From the flexible that is prepared it can seen the performance of Danshui Plant NO.2 is not good enough as what it suppose to be. The budget show that Danshui
Premium Variable cost Costs Fixed cost