Rite Aid research notes 1. Rite Aid began in 1962 called thrift D Discount Store. It is clinging to its position as a distant third (behind Walgreen and CVS) in the US retail drugstore business. The struggling company runs some 4‚665 drugstores in about 30 states and the District of Columbia. Rite Aid stores fill prescriptions (more than two-thirds of sales) and sell health and beauty aids‚ convenience foods‚ greeting cards‚ and other items‚ including around 3‚000 Rite Aid brand private-label products
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Rite Aid 1) a. The secure debt of Rite Aid is tied to specific assets. Unsecured debt is money that Rite Aid borrowed from financial institutions and has no collateral tied to it. Rite Aid distinguish between these two types of debt to give a clear pictures to investors‚ credit rating agencies‚ and lenders that they will be able to make interest and principal payments on time. b. A guarantee debt is an assurance if one party defaults; another party will pay the debt. Rite Aid wholly-owned subsidiaries
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Rite Aid Lekesha Rideaux Auditing I ACC 405 Strayer University Professor Sharolyn DeWitt Rite Aid has more than 4‚900 stores in over thirty one states‚ but it all started with just one. September 1962‚ Thrif D Discount Center in Scranton‚ Pennsylvania opened. What started as
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Rite Aid Corporation (Case 22) The following is a general environmental analysis of the Rite Aid the business sector of the retail pharmacy industry‚ with an analysis of Rite Aid. The first section of this report will cover an overview of the trends in technology demographics‚ economics‚ political/legal‚ and social/cultural-global. The second section of this report will cover porter’s five forces‚ Competitive analysis‚ internal analysis and alternative strategies. Technology: Smartphones
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The fallout that accompanied the accounting scandals of the early 2000’s had an immediate impact on corporate business and accounting practices which is still being felt today. The collapse of Enron and its accounting firm Arthur Andersen‚ as well as the subsequent collapses of Worldcom and others have left a permanent mark on how corporate businesses and accounting firms are perceived and how they are regulated. It has also altered the experiences of students who are pursuing‚ or are considering
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Notable outcomesThe Enron scandal turned in the indictment and criminal conviction of one of the Big Five auditor Arthur Andersen on June 15‚ 2002. Although the conviction was overturned on May 31‚ 2005 by the Supreme Court of the United States‚ the firm ceased performing audits and is currently unwinding its business operations. On July 9‚ 2002 George W. Bush gave a speech about recent accounting scandals that had been uncovered. In spite of its stern tone‚ the speech did not focus on establishing
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Nowadays‚ accounting scandal or financial statement fraud has increasingly become a serious issue and it threatens to undermine the profession of accountants and auditing companies. Therefore‚ I think that this has affected the way future accountants view the importance of accounting principles‚ future accountants will tend to neglect and disregard accounting principles even more regarding the present accounting scandals. I plan to start my introduction by explaining briefly what accounting is and
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The WorldCom Accounting Scandal WorldCom was started in Mississippi as a long distance telephone service provider in 1983 (Lyke and Jickling‚ 2). Over the next decade and a half‚ the company expanded to offer a whole range of telecommunication services through a series of mergers and acquisitions (Lyke and Jickling‚ 2). At its height‚ WorldCom was the largest long distance phone company in the United States and was one of the leading companies in the telecommunication market in the world‚ providing
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Causes of Accounting Scandals: The accounting entities and accountants of the world have defined several standards and ethical guidelines that need to be and must be followed by the accountants so that things are not misrepresented and no wrong information is provided to the investors. The accounting information generated by any company is generally used by external entities and stakeholders as well and hence it is crucial to maintain and define some standards and practices that serve the purpose
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Financial accounting is one branch of accounting and historically has involved processes by which financial information about a business is recorded‚ classified‚ summarized‚ interpreted‚ and communicated; for public companies‚ this information is generally publicly-accessible (Financial Accounting Info‚ 2006). Accounting attempts to create accurate financial reports that are useful to managers‚ regulators and other stakeholders such as shareholders‚ creditors or owners (Financial Accounting Info‚ 2006)
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