Phar-Mor‚ Inc. Key Facts • Started in 1982 with 1 store. Up to 310 stores in 1992 with sales of $3 billion • Retail drug store- highly competitive‚ deep discounts • Mickey Monus‚ president and COO‚ found guilty of embezzling $10 million in 1995 • Monus had an extravagant life style • Sentenced to 20 years in prison • Monus and Patrick Finn his CFO • Manipulated I.S. accounts (understate cost of goods sold and overstated inventory) for 6 years • Inventory
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~ Case 6 Phar-Mor‚ Inc.: Accounting Fraud‚ Litigation‚ and Auditor Liability Mark S. Beasley‚ Frank A. Buckless‚ Steven M. Glover‚ Douglas F. Prawitt LEARNING OBJECTIVES After completing and discussing this case‚ you should be able to . . Identify factors contributing to an environment conducive to accounting fraud . Understand what factors may inappropriately influence the client-auditor relationship and auditor independence Understand auditor legal liability issues related to suits brought
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Naresh Paneru Implementation of Lean Manufacturing Tools in Garment Manufacturing Process Focusing Sewing Section of Men’s Shirt Implementation of Lean Manufacturing Tools in Garment Manufacturing Process Focusing Sewing Section of Men’s Shirt Naresh Paneru Master’s thesis Autumn 2011 Degree Programme in Industrial Management Oulu University of Applied Sciences Author: Title of Thesis: Naresh Paneru Implementation of lean manufacturing tools in garment manufacturing process focusing sewing section
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The lean accounting method was first developed and introduced by Toyota and other Japanese companies. Toyota executives claim that the famed Toyota Production System was inspired by what they learned during visits to the Ford Motor Company in the 1920s and developed by Toyota leaders such as Taiichi Ohno and consultant Shigeo Shingo after World War II. As pioneer American and European companies embraced lean manufacturing methods in the late 1980s‚ they discovered that lean thinking must be applied
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Wil-Mor Technologies: Is There a Crisis? As of February 1997‚ there are significant problems in the relationship between Wilson and Morota‚ the respective American and Japanese auto-manufacturing suppliers that have created the Joint Venture Wil-Mor. There is a major concern that this JV is still unprofitable (since its launch in 1994)‚ despite its relative successes in gaining market share and sharing knowledge and expertise across the two companies. The two parent companies are at odds over
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LEAN ACCOUNTING: BEST PRACTICES FOR SUSTAINABLE INTEGRATION "Costs do not exist to be calculated. Costs exist to be reduced.” – Taiichi Ohno‚ father of the Toyota Production System Lean Accounting-It is simply the application of lean principles to the accounting and associated functions within the enterprise. The idea is simple‚ but the application is not obvious within the framework of traditional accounting systems. Lean Accounting was born in the early 90’s through the experiences
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The Impact of Lean Implementation on Operational Performance: A Study of Composite Manufacturing Companies in Malaysia 1.0 BACKGROUND INFORMATION In 2012‚ the Asia-Pacific region accounted for 36 per cent of the worldwide market in value for composite production and 41 per cent in volume‚ according to Frederique Mutel‚ president and chief executive officer of the JEC Group‚ which is the world‟s largest composite industry organization‚ representing‚ promoting and expanding the industry
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adopted in 1979 to support its mass production process have value in a lean environment? Explain the specific reasons that support your answer. In general‚ we do not think that traditional accounting practices that Topeka plant adopted in 1979 to support its mass production would fit into the lean accounting environment. The differences between the two accounting methods make the traditional accounting hard to work for the lean environment. We would analyze from the following perspectives: Goal
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Measuring lean initiatives in health care services: Issues and findings‚ International Journal of Productivity and Performance Management. Vol. 56‚ no. 1‚ 2007‚ pp. 7-24. Bhasin‚ S‚ & Burcher Laureani‚ A.‚ & Antony‚ J. (2010). Reducing employees’ turnover in transactional services. A Lean Six Sigma case study. International Journal of Productivity and Performance Management. Vol. 59‚ no. 7‚ pp. 688-700. MIT (2000) Moore‚ R. (2001‚ September). Comparing the major manufacturing improvement
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LEAN IN PRODUCTION AND SERVICE The word term ‘’LEAN’’ was put together to describe and personalize Toyota’s business activity during the 1980’s by a research team headed by one Jim Womack‚ Ph.D.‚ at MIT’s international Motor vehicle programme. According to them‚ the concept of ‘LEAN’ was fathered by Taiichi Ohno of Toyota. Ohno developed a contrasting approach to the mass production methods of US car firms through necessity. Later‚ in 1996‚ Jim Womack’s team espoused the five lean principles
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