REGINA COMPANY POINT OF VIEW: Regulator – National Commission on Fraudulent Financial Reporting CASE CONTEXT: Regina Vacuum Cleaner Co. seemed to be doing excellent as manifested in its healthy 1988 annual Financial Statements. However‚ Regina Company ended up as a tragic story that served as cautionary epic to investors‚ creditors‚ auditors‚ the public and the government. The Company was acquired through a leveraged buyout by a group of Top Executives led by Donald Sheelen‚ former
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Regina Case Regina Company Inc. was known as a complacent slow-growth company and was dominated by Hoover and Eureka within the floorcare industry. Donald Sheelen was a promising young individual when he was hired first as the head of the marketing division in Regina‚ and then became its president. Shortly after becoming company president‚ Sheelen set out to make Regina the industry’s number one company and repeatedly vowed to “bomb” Hoover‚ the number one firm in the industry at the time. Sheelen
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Regina Company Inc. Common Size Income Statement Year 1988 1988 1987 1987 1986 19862 Net Sales $181‚123 100% $128‚234 100% $76‚144 100% Cost of Goods Sold $94‚934 52.41% $70‚756 55.18% $46‚213 60.69% Selling Distribution and Administrative $21‚870 12.07% $14‚621 11.40% $10‚366 13.61% Advertising $39‚992 22.08% $26‚449 20.63% $8‚557 11.24% R&D $2‚423 1.34% $1‚530 1.19% $1‚182 1.55% Total Operating Cost & Expenses
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The legal citation of the case. Regina v [2001] NSWSC 1011 (8 november 2001) The elements of the offence. In order for a trial to be brought‚ the police and prosecutors might be able to prove that the elements of the particular offence are present. In this criminal case both Actus reus‚ Mens rea as well causation was clearly shown through the behavior of Katherine Knight. Actus reus is the term referring to ‘guilty act’ meaning any voluntary actions of omissions that constitutes to a crime
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Miss... Swan. Miss. Swan. Sheriff Swan. All the ways Regina had ever said Miss Swan‚ none of them had ever sounded like that‚ so kind‚ sweet‚ promising‚ almost as if she were talking to Daniel. Regina figured it was because she had never taken a liking to Emma. Until now. Regina had been resting against the back of her front door for about 10 minutes. Regina didn’t want to move a thing‚ she was afraid it might change her memory. Regina never thought something so simple could leave her feeling
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A tragic story brought to life with simple chord pattern and haunting melody‚ Sampson is one of Regina Spektors greatest works… With both light and shade Samson describes a love story that cannot be sustained. An ascending chord pattern dominates throughout the song. However‚ with multiple key changes Spektor has managed to create a song that flows perfectly from verse to chorus. I love the rawness of the style in which the song is sung and performed‚ no hidden sound effects or electronic disturbance
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of View The group decided to look into the Regina Company case using the perspective of a financial analyst who will report to the Electrolux management and board. This decision was due to the following reasons: 1. Any further audit from the side of Regina‚ Electrolux or the SEC will only yield a similar result as the last audit thus being redundant and utterly useless 2. Looking at the case in the perspective of a member of the board of Regina will prove to be useless in evaluating the case
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I have a pretty interesting history that I didn’t know until now. My great grandmother Regina Magier and my great grandfather Alter (Alex) Magier came to America in 1947 after World War II. It must have been hard to regroup after all they went through during the war. Regina and Alter had a tough childhood in Poland being part of the Holocaust. Regina grew up in Warsaw with her parents and her sister. It had been tough growing up with war all around and never truly being safe. She didn’t have an education
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1. Prepare common-sized financial statements for Regina for the period 1986 to 1988. Also‚ compute key liquidity‚ solvency‚ activity‚ and profitability ratios for the years 1987 and 1988. Given these data‚ identify what you believe were the high-risk financial statement line items for the 1988 Regina audit. I computed the ratios for 1986 as well as the required 1987 and 1988. The most interesting occurrence is how the values for the growth were not translated in the ratios. As sales increased
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Post’s Sports Editor and daily columnist . Vanstone has spent most of his time in the Leader Post writing about the Saskatchewan Rougriders. Rob is one of the top sports editor in Saskatchewan. Rob Vanstone’s goal was to be a sports writer in Regina. He studied at Campbell Collegiate in his High school years. He was a good student in English class‚ so the teachers inspired him to be a journalist. After college he tried to apply to journalists. He was waiting list for two months‚ after that he
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