"Jamaica Water Properties Audit Case" Essays and Research Papers

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Jamaica Water Properties Audit Case

Abigail Rockwell Due Date: February 15, 2014 Jamaica Water Properties Case Study During a time in our recent history when greed and self promotion was the benchmark that most financial and managerial directors of companies, both public and private, seemed to strive for, David Sokol stands out above the crowd. Instead of looking to further his own self-image, career, or standing, instead of taking what most people would view as the easy road, Mr. Sokol did the right thing. He chose ethics, morals...

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Jamaica Water Properties

Jamaica Water Properties * Introduction The case is about an accounting fraud that involves the Jamaica Water Properties, Inc. This fraud was discovered by David Sokol, who was at that time served as COO (Chief Operating Officer) of the Jamaica Water Properties, Inc. The main culprit was Ernest Grendi, JWP’s CFO, helped by several of the company’s senior accountants. Moreover, the company’s external auditor, Ernst & Young, seems to be involved as well. This case will show regarding the...

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Audit Case: Jaimica Water Properties

Sam Li Case: Jamaica Water Properties 1. Place yourself in David Sokol’s position. After discovering the suspicious items in JWP’s accounting records, would you have taken a different course of action than he did? Why or why not? I doubt if I can reach the position that David Sokol had in my career’s life. However, let say that if I was in David Sokol’s position, I would probably do the same thing David had done. I believe the proper working ethics are accountability, professionalism and...

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JAMAICA WATER PROPERTIES

 CASE 1.3 JAMAICA WATER PROPERTIES Synopsis This case focuses on David Sokol, an executive who has made a “name” for himself in recent years within the energy industries. After becoming recognized as a successful “turnaround” agent for troubled companies, Sokol was hired in 1992 to serve as the chief operating officer of JWP, Inc., a large, New York-based conglomerate. At the time, JWP had an impressive history of sustained...

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Case Study Jamaica Water Properties

Case 1.3 Jamaica Water Properties Prepared by Alex Gonzalez for Professor C.E. Reese in partial fulfillment of the requirements for ACC 540 – Fraud Examination School of Business / Graduate Studies St. Thomas University Miami Gardens, Fla. Term A7 / Fall, 2014 October 24th, 2014 Table of Contents Issues 1 Facts 1 Analysis 7 Conclusions/Recommendation 7 References/Bibliography 7 Issues 1. In David Sokol’s position, after discovering the suspicious items in JWP’s...

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Jamaica Water Properties

Jamaica Water Properties A Case Study The case is about an accounting fraud that involves the Jamaica Water Properties, Inc. The fraud was characterized by misapplication of purchase method of accounting for acquisitions, recording fictitious assets, improper accounting for NOLCO, non-recording of appropriate allowances for uncollectible receivables, and misapplication of the percentage-of-completion method of accounting for long-term contracts. Ernest Grendi made the fraud possible, company...

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Properties of Water

Properties of Water Water is essential for life as we know it on earth. It is used by plants and animals for basic biological processes which would be impossible without the use of water. The origin of all life can be traced back to the water in the Earth's precambrien seas. Water is also the universal solvent. It reacts with more elements and compounds than any other substance known to man. Water is a polar molecule made up of on atom of hydrogen and two atoms of oxygen. It is attracted...

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Properties of Water

Properties of Water Lab # 1 Biology 111 January 23, 2011 INTRODUCTION With surface tension it is made possible for items such as paper clips to float on water, because a molecule within the mass of a liquid encounters gravity to all adjacent molecules in all directions. When you use surfactant substances this creates hydrogen bonds. Purpose of experiment 1 will be to show that once the surfactant substances hits the hydrogen bond pulls down paper clips. Things...

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Jamaica: Environmental Audits for Sustainable Tourism (East) Project

sector is especially vulnerable to any degradation of its coastal resources. In recent years, negative impacts from poorly planned urban and tourism developments (poor solid waste and wastewater management practices, for example) have affected water quality and near shore ecosystems, especially in the important north and northwestern tourism destinations of Negril, Ocho Rios, and Montego Bay. In self-preservation, Jamaica’s tourism industry has had to address the impacts of its own operations...

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Case 2 Jamaica Water Properties I

Case 2 Jamaica Water Properties Table of Contents Issues………………………………………………………………………………..... 1 Facts………………………………………………………………………………….. 2 Analysis…………………………………………………………………………….... 11 Conclusion/Recommendations………………………………………………………. 17 Reference/Bibliography…………………………………………………………….... 19 Issue 1. After discovering the suspicious items in JWP’s accounting records, should he have taken a different course of action than he did? 2. What measures can and should be taken to make it easier for corporate...

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