knew the extent of Ireland’s budget deficit. The EU was worried about the contagion effect‚ that if the Irish economy went bust‚ it would have a dramatic effect on the countries within the EU. Another reason for the bailout was that financial leaders believed that “the bail-out money a move to help restructure the banking sector.”[2] “RBS and other companies have invested heavily in Ireland. RBS‚ which is partially state-owned‚ has £53billion exposure to Irish loans – of which more than £40billion
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AIG Accounting Scandal Contents 1.0 Introduction ………………………………………………. 2 1.1 Overview of AIG …………………………………….. 2 2.0 Scandal Methodology Used by the Company………… 3 2.1 Accounting Practices Errors ……………………….. 3 3.1 Ways to Hide Accounting Improprieties ………………. 4 4.1 Who the scandal effected ………………………………. 7 5.1 Recommendations ………………………………………. 8 6.1 Conclusions ………………………………………………. 9 7.1 References ………………………………………………. 10
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“Describe how Enron could have been structured differently to avoid such activities” Enron consisted of a Board of Directors‚ Chief Executive Officer (CEO)‚ Chief Operating Officer (COO)‚ Chief Financial Officer (CFO)‚ Chief Accounting Officer (CAO) and a plethora of other officers. The upper level structure of Enron was normal compared to many other large businesses. The Board of Directors is charged with making policies for the company and the CEO and other officers are responsible for carrying
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Properly accounting for subsequent events is important because investors’ opinions could be dramatically altered by the events and transactions that occur after year end. If subsequent events are not given proper consideration‚ the financial statements that are issued at year-end may be misleading. Accounting Standards Codification (ASC) 855 provides guidance on the proper accounting for and disclosure of subsequent events. Due to the potential impact subsequent events may have on the financial statements
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with them. Video games‚ like movies‚ music and any other form of art‚ are there to entertain people and to enjoy‚ not restrict. What most people fail to realize is that the video game industry‚ like the film industry‚ is heavily regulated with a strict code of parental guidelines already in place. Even the game consoles to play these violent games have parental controls. What I fail to understand is that some parents believe its okay to give their children 18+ rated games even though they are well under
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for GM and Chrysler‚ and to keep making auto loans available for car buyers. Ford Credit planned to use funds from the Term Asset-Backed Securities Loan Facility (TALF)‚ a government program for auto‚ student and other consumer loans. The auto bailout proposal from the Big 3 auto companies totaled $34 billion in government loans. In return‚ the companies promised to fast-track development of energy-efficient vehicles‚ and consolidate operations. GM and Ford agreed to streamline the number of brands
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AIG Contents Introduction This report deals with the American International Group (AIG) scandal of 2008. Before the collapse of AIG and its credit reduction‚ AIG was the largest insurer in the world with total annual revenue of $110 billion. On September 2008‚ AIG’s credit rating was downgraded‚ and AIG was without enough collateral for credit default swaps sold to banks around the world forcing AIG to accept a massive federal bailout package from
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Priscilla Hatch Personal Values and Organizational Ethics Case: The GM Bailout Stephen Jackson – Instructor January 22‚ 2013 1. How would Locke‚ Smith‚ and Marx evaluate the various events in this case? They would evaluate this case by claiming that the government ownership of companies is the kind of government ownership of the “means of production”. (Smith – the “father of modern economics” who is the originator of utilitarian argument for the free market. According to Smith‚ when
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Could the Nazi takeover of the German state and national consolidation of power have been prevented? Who could have prevented it‚ and what would they have needed to do? If a Nazi dictatorship could have been prevented‚ what was the most likely alternative outcome? The rise in power of Hitler in January 30‚ 1933 did not come through a revolutionary way‚ but through lies and manipulations that eventually secured Hitler his election in a political office. Having already attempted to take
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Introduction AIG‚ American International Group Inc.‚ is one of the top multinational insurance corporations. AIG‚ with asset of 556 billion‚ provides insurance service for more than 150 different countries and it has over 630‚ 000 employees over the world. Even though AIG is such a giant corporation‚ it has encountered financial problems in the early 2000s. Under financial pressure and a lack of internal control‚ AIG have committed frauds resulting in several scandals. One of the accounting scandals
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