Topic: RECEIVABLES I. DEFINITION These represent amounts collectible from customers and others‚ most frequently arising from sales of merchandise‚ claims for money lent‚ or the performance of service. They may be interest bearing‚ collateralized‚ or billed. II. COMPOSITION A. Trade 1. Accounts Receivable 2. Notes Receivable B. Non-Trade 1. Advances to Officers and Employees‚ Affiliates and Others 2. Claims against Suppliers and Insurance
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A Case Study of the Lehman Brothers Bankruptcy 100 USD 80 USD 60 USD 40 USD 20 USD 0 USD Financial Risk MVE220 Work distribution: 2010-11-24 Both the members of the project team have contributed equally to the case. Even though several parts have been written individually‚ the analyzing and key concepts have been developed mutually together. Examinator: Holger Rootzén Robin Feng 910911-1675 Niklas Fredriksson 900310-1855 Abstract Lehman Brothers was the fourth biggest investment bank in America
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1. Describe the situation at Lehman Brothers from an ethics perspective. What’s your opinion of what happened here? The collapse of Lehman Brothers was the results of ethical failures which were rooted in its corporate culture. Lehman Brothers’ risk-oriented culture encouraged unethical decision for financial gain‚ therefore the risk-taking ideal and the overlook of questionable behaviors. Professional ethics was put behind profit‚ with employees ‘making questionable deals hailed and treated as
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RELATED LITERATURE Receivables are one of the three primary components of working capital‚ the other being inventory and cash. Receivables occupy second important place after inventories and thereby constitute a substantial portion of current assets in several firms. The capital invested in receivables is almost of the same amount as that invested in cash and inventories. Receivables thus‚ form about one third of current assets in India. Receivables provide protection to sales from competitions
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THEME: ACCOUNTS PAYABLE By John W. Day‚ MBA ACCOUNTING TERM: Accounts Payable An account payable is normally an unsecured‚ non-interest bearing current liability‚ owed by the company to a vendor for the purchase of trade goods or services. FEATURE ARTICLE: Accounts Payable Accounting If you are a small business owner or manager and you are having trouble keeping track of all those outstanding bills that have to be paid each month‚ perhaps you need to set up an accounts payable system. Some small
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The Lehman Brothers Scandal The Lehman Brothers is a Global financial services firm that’s been around for 158 years‚ founded by Henry Lehman and his brothers‚ Emanuel and Mayer‚ where they have survived railroad bankruptcies‚ the Great Depression‚ two world wars and a capital shortage. What was the Lehman Brothers scandal? Well the Lehman Brothers‚ Ernst & Young and Banks in the Cayman Islands together covered up the Lehman Brothers hiding over $50 billion in loans disguised as sales.
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outside of Lehman’s New York City offices and handed out markers to employees and pedestrians so they could write a message regarding the firm’s announcement that it was filing for bankruptcy. On September 15‚ 2008‚ financial services firm Lehman Brothers filed for bankruptcy with the U.S. Bankruptcy Court in the Southern District of New York. 95 That action—the largest Chapter 11 filing in financial history—unleashed a “crisis of confidence that threw financial markets worldwide into turmoil‚
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The Elgin Depot Museum wants more local visitors The American Orient Express‚ a luxury passenger train‚ offered travelers a ‘cruise on wheels’ experience‚ from 1989 to late 2008. Passengers traveled in lavish train cars from the 1940s and 50s‚ and dome cars were added in the mid-2000s allowing passengers to travel in style with panoramic‚ breathtaking views as they traveled throughout North America. Trips ranged from seven to ten days‚ traveling to and through continental destinations such as
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GROUP 11 - AMERICAN EXPRESS! http://investing.businessweek.com/research/stocks/financials/secfilings.asp?ticker=AXP:US PART I: INDUSTRY ANALYSIS: CREATE AN INDUSTRY ANALYSIS BASED ON THE FOLLOWING QUESTIONS CP1-7 | | Team Project: Examining an Annual Report | | | As a team‚ select an industry to analyze. Reuters provides lists of industries under Sectors and Industries at www.reuters.com. (Click on an industry and then select Company Rankings for a list of members of that industry
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Problem 1 The accounts receivable of FRANCO COMPANY were stated at P1‚467‚000 in a balance sheet submitted to a banker for credit. You are called upon to audit the report and‚ upon analysis‚ the asset was found to consist of the following items: Due from customers on open account P 1‚125‚000 Acknowledged claim for damages 22‚500 Due from consignee at billed price – cost price being P22‚500 30‚000 Investment in and advances to affiliated company 150‚000
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