Accounting numbers in business is a closely watched area these days largely in part to the bad financial decisions made by certain corporations. This all has happened over the past 10 years when large corporations were found to be fudging the numbers causing thousands and thousands of employees to lose everything when the company went under. The article chosen for this paper is about the importance of educating students on ethics in accounting. It was written by Susan Schott Karr in 2004‚ who frequently
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becoming President. On June 17‚ 1972 a group of men from Nixon’s party were arrested because they were caught trespassing into the Democratic National headquarters in the Watergate (a hotel). The names of the men who were caught in the Watergate Scandal were James W. McCord‚ Virgilio R. Gonzalez‚ Frank A. Sturgis‚ and
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References: Warren‚ C.‚ Reeve‚ J.‚ and Duchac‚ J (2007). Accounting. 23rd ed South-Western‚ cengage learning in thousands except share data | January 3‚ 2009 | December 29‚ in thousands except share data | December 29‚ 2007 | December30‚
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Understanding the context of an article‚ or particular situation‚ and the language used to describe events is important when it comes to considering how the reader will interpret the text. In The Sunday Telegraph article ‘Swim Scandal: Aussies See Red Over Chinese’ written by Halloran‚ J and Harris‚ A it is important to break down the important components of language used by the authors. Breaking down the article into field‚ tenor and mode will help the reader convey and understand the journalists’
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The lecture last night discussed accrual accounting concepts such as timing issues‚ and the basics of adjusting entries. The discussion went into more detail on periodicity assumption and how accounting divides the economic life of a business into artificial time periods. These time periods are generally a month‚ a quarter‚ or a year‚ now whether it is a fiscal year or a calendar year that is determined by the company itself. The lecture then reviews the revenue recognition principle which expects
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Vanessa Williams Photos Scandal Immoral might be the right word to describe Vanessa Williams and the Penthouse photos scandal. Vanessa Williams was the first black Miss America 1984. Some photos of Vanessa Williams naked were taking by a photographer Tom Chiapel two years before she was crowned Miss America. These photos where offered to Hugh Hefner the publisher of Playboy but he turned down publication of the photos for two reason: they were without Williams’ consent for publication and
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Societe Generale is a French bank founded in 1864 by a group of manufacturers and financiers. This bank was designed to encourage the growth of trade and industry in France. Its headquarters are in Paris and Nanterre‚ France. Currently Societe Generale has three main divisions that they focus on- these include: Retail banking and specialized financial services Corporate and Investment Banking Global Investment management and services Among these‚ their services also include specialized financing
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Enron’s Questionable Transactions 1. Which segment of its operations got Enron into difficulties? * The fact that Kopper was appointed to Fastow and he was an employee at Enron was the first thing that got them into trouble. Another reason was that over 11 million was invested and it ended up not being invested at all. I believe these two situations ended up being the start of Enron’s problems. Enron also was not reporting the revenue for service correctly and his stock was paid
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1. What explains the high level of corruption at Siemens? How did managers engaged in corruption rationalize it? In Germany‚ bribery was legal before 1999‚ now was illegal. However‚ Siemens continued bribery‚ they sent the money to the bank in Switzerland that was difficult to trace. Also‚ they hired a lot of “consultant” to help them accomplish corrupt business. Managers rationalized that bribes were looked like a “cost of doing business” and “useful money”. They believed this way could keep the
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In 1969‚ a sixteen year old student named Michael Kittredge made a candle out of melted crayons‚ a piece of string‚ and an empty milk carton to give to his mother as a gift on Christmas day. A neighbor loved the candle so much that she convinced Michael to sell her the candle. When Michael sold the candle‚ he had enough money to purchase additional supplies to make two more candles‚ and the rest was history. Today‚ Yankee Candle is the largest candle manufacturer in the world. The company produces
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