Phase 1: DB 2—Financial Reporting Model Colorado technical University ACCT300-1202B-01: Intermediate Accounting I I am a coworker and friend to Mr. Ethics. This morning at break‚ he appeared to look worried and under a lot of stress. Being his friend‚ I ask if he needed to talk. He told me that Mr. Fraud‚ the CEO of the company for which we work‚ called him into his office and asked him to adjust the books so that a spot of land purchased is recorded at book value of $50‚000 rather than the price
Premium Accounts receivable Generally Accepted Accounting Principles Revenue
CORPORATE FINANCIAL REPORTING Assignment #1 On * Sukuk (in context to Pakistan) * Listing requirements by KSE * IFSB * History of Accounting Standards and Adoption of IFRS * Deloitte Pakistan/Global Deloitte (1) Sukuk (in context to Pakistan) Sukuk is the Arabic name for financial certificates‚ but commonly refers to the Islamic equivalent of bonds. Since fixed income‚ interest bearing bonds are not permissible in Islam‚ Sukuk securities are structured to comply
Premium International Financial Reporting Standards International Accounting Standards Board
IMPROVING WELLINGTON FREE AMBULANCE STAKEHOLDER ENGAGEMENT THROUGH NON- FINANCIAL REPORTING RESEARCH REPORT MMPA 516 SUBMITTED BY Name: Rajat Chawla Student ID: 300256730 TABLE OF CONTENTS Executive Summary………………………………………………………………………….. i Table of Contents…………………………………………………………………………… ii Introduction Pros of SSP reporting Cons of SSP Reporting Conclusion Challenges communicated to Stakeholders What stakeholders
Premium Annual report Financial statements Balance sheet
Governmental Financial Reporting Presented by David R. Koeppen‚ Ph.D.‚ CPA Department of Accountancy Boise State University dkoeppen@boisestate.edu Topics • • • • • Introduction Reporting Basics Fund Accounting Government-wide Financial Statements Summary and Conclusion Introduction • • • • Purpose of Financial Reporting Generally Accepted Accounting Principles Characteristics of Governmental Entities Effects of Characteristics on Financial Reporting Purpose of Financial Reporting • Private
Premium Generally Accepted Accounting Principles Balance sheet Asset
1. Is this an example of fraudulent financial reporting or misappropriation of assets In this case‚ it is misappropriation of assets because the fraud is the consequence of the employee theft. As it is stated in the case “manager at Aspen store was stealing payments by customers on accounts. That’s why subledger was out of balance with the GL. To cover it up‚ the manager debited the sales account‚ which was why the gross margins didn’t make sense.” 2. What created an opportunity to commit the fraud
Premium Auditing Internal control Audit
Microsoft’s Financial Reporting Strategy 1. What are the factors that likely explain the difference between Microsoft’s market value of equity and its reported book value of equity? One of the factors that explain the difference between Microsoft’s market value of equity and its reported book value of equity is the lack of effectiveness to record certain intangible assets such as stock of knowledge (i.e.‚ human capital) customer loyalty‚ and brand value. These former intangible assets mentioned
Premium Income statement Generally Accepted Accounting Principles Revenue
Associate Level Material Conflicts Are Important Worksheet In this assignment‚ you must write 300 to 450 words on conflict and conflict management. Record your answers in this worksheet. Part 1: The Five Conflict Types Describe each of the five conflict types using paragraph form. Conflict is important‚ and it is also important to recognize the different types of conflicts that you may be involved with. By knowing this‚ you can recognize the state of mind you’re in and if possible avoid
Free Conflict
In this paper the financial reporting practices and ethical s------ in health care will be discussed. Financial essential in any organization. There are four key components of financial management; ------- controlling‚ organizing and directing‚ and decision making. It is vital that the financial and other managers understand all four of these to be able to promote a ------ organization. The upmost to follow the ---------statement‚ vision and values through honesty and integrity‚ to toward the staff
Premium Management
offering financial statements for 2009. Also‚ its main subsidiary’s revenue was deliberately inflated according to powerful evidence. As a result‚ the CEO‚ Jacky Chun‚ was arrested because of irresponsibility of proper records on purpose‚ and some auditors related violated Professional Accounting Ordinance due to publicizing the annual reports with false information. This ethical issue connects to fraudulent financial reporting by management personnel and accountants. Fraudulent financial reporting
Premium Fraud Ethics Audit
Financial Reporting Problem Financial Reporting Problem In every company there are challenging that must be overcome to maintain a healthy business. It is important for a corporation like Wal-Mart to be aware of their competition. The ability to study and learn from other business in the same market can drastically influence the success of an organization. It is equally important to ensure that a corporation is aware of their own strengths and weaknesses. A corporation as large as Wal-Mart
Premium Corporation Business Audit