October 30‚2012 PTL Club clear-The Harbinger of things to come? 1. What similar factors led to the demise of both Laventhol &Horwath‚ and Anderson? Both Laventhol and Horwath‚ and Arthur Anderson accepted clients that were risky just to keep their revenues up. L&H knew there were things wrong with PTL‚ especially since they were doing things that were hidden from the Board‚ like the payroll account book‚ which was secret. The Bakker’s would call the senior L&H partner to keep the books
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Case study PTL Club-The Harbinger of Things to Come? 1) To see how similar the cause of collapse of both Laventhol & Horwath and Andersen‚ let’s examine these two cases from two perspectives. a. From the clients’ side The last straw which led to the demise of these two CPA firm were PTL club to L&H and Enron to Anderson. PTL Club had a very weak internal control. As it is pointed out in the case‚ whenever Jim Bakker needed money‚ he could just simply make a board member introduce
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1. The ethical questions raised relate to the partner’s independence. He cannot be fully independent according to their professional code of conduct if he is maintaining a secret payroll for the client. He is essentially perpetrating a fraud on behalf of the client. It does not matter that PTL was not an organization registered with the SEC; the partner still has to follow the professional code of conduct that is integral to his profession and the public’s trust in it. 2. There are numerous procedures
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a need for a payroll program for their large organization. The client has one large data center that each office connects to via a wide area network (WAN). The focus of this paper is to explain the type of architecture the new payroll application should use and also identify the types of technology will be involved with the architecture. In addition to that‚ the paper will briefly identify any potential ethical issues that could arise in connection with the new architecture. Payroll Application
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Name : Ronesha Rosal Subject : Principles of Accounts Name of project : Study of accounting procedures of B+M School : Corpus Christi College School number : 160013 Candidate’s number : 160013 Teacher’s name : Ms. Valentine Date submitted : ACKNOWLEDGEMENTS I would like to take this time to thank Table of Contents INTRODUCTION AIMS ACCOUNTING CYCLE Source documents Subsidiary journals
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The Matrix Questions The Matrix is a movie made by the Wachowski brothers (siblings now) in 1999. It is one of the most significant science-fiction movies ever made. This is mainly because of the interesting plot‚ as well as the special effects. I believe The Matrix is a very interesting movie. However‚ after watching it‚ the movie raised quite a few questions with me. First of all‚ the question we all ask after the movie. Is the Matrix real? What if our life is really just set in a virtual world
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Table of Contents 1 Introduction 2 2 Discussion of case study 2 2.1 Identification of the Ethical and Governance issues raised in the case study 2 2.2 Critical analysis of the main ethical and the governance issues raised in the case study 5 2.3 An evaluation of the conditions that enabled the issues identified to arise 7 2.4 Recommendations to the company 9 3 Conclusion 11 4 References 12 Introduction Apple is one of the most successful companies to date‚ they have dominated most of
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Asset Class S.D. Expected Return Weight Asset Class Contribution Sharp ratio US Equity 15.21% 12.94% 24.32% 3.15% Foreign Equity 14.44% 12.42% 30.87% 3.83% Bonds 11.10% 5.40% 10.83% 0.58% REITs 13.54% 9.44% 9.91% 0.94% Commodities 18.43% 10.05% 24.07% 2.42% Total 100.00% 10.92% 0.815960738 Portfolio Mean Return 10.92% Portoflio Variance 0.90% Portfolio S.D 9.46% Calculation of Covariance (Do Not Alter Formula) Correlation Matrix
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Victoria’s Secret has 1‚040 stores globally with more than 6 million square feet of retail space. Net sales are more than $5 billion and average sales per selling square foot are $581. However‚ when the word globally is used‚ it actually means the United States. International sales are mostly mail order or at a handful of airport stores. Victoria’s Secret could position their international presence better and is something they should work on. Victoria’s Secret still might be a secret to a lot of
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CHAPTER - II RECONSTITUTION OF PARTNERSHIP (CHANGE IN PROFIT SHARING RATIO AMONG THE EXISTING PARTNERS‚ ADMISSION OF A PARTNER‚ RETIREMENT/DEATH OF A PARTNER) Admission of a Partner Learning objectives:After studying this lesson‚ the students will be able to: Identify and deal effectively with the situation of reconstitution of partnership. Identify the problem arising due to admission of a partner in the firm. Calculate new and sacrifice ratio in different cases. Understand‚ calculate
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