CASE 8.1 LIVENT‚ INC. Synopsis Similar to most financial frauds‚ the Livent‚ Inc. fraud was masterminded by a few individuals‚ primarily Garth Drabinsky and Myron Gottlieb. However‚ numerous individuals were eventually drawn into Livent’s fraudulent schemes by its principal architects‚ including Maria Messina‚ the company’s chief financial officer (CFO). Messina‚ a former partner with Deloitte & Touche’s Canadian affiliate‚ had previously served as Livent’s audit engagement partner
Premium Audit Auditing Chief financial officer
Knapp’s Relational Stages‚ as found in the class notes‚ can be defined as the following. “A model of relational stages that breaks the rise and fall of relationships into ten stages comprising two broad phases of ‘coming together’ and ‘coming apart’ which are overlapped by a third phase called ‘relational maintenance’; the ten stages are initiating‚ experimenting‚ intensifying‚ integrating‚ bonding‚ differentiation‚ circumscribing‚ stagnating‚ avoiding‚ and terminating.” Topic in the story: Knapp’s
Premium Psychology Thought Interpersonal relationship
positive. All relationships have their up’s and down’s and sometimes they just do not end up working out. In my case my relationship was based off of “opposites attract”‚ but this can only last so long before the differences start to take over. I feel Knapp hit the main parts of a relationship‚ and he explains everything. I can really relate to the different stages that he came up with‚ and I feel that most relationships take these steps. Relationships can be hard at times but they can also be
Premium Time
Both Porter and Shank assess the addition of value as management of costs in an effort to increase efficiency or add value to the organization as a whole. Porter model concentrates primarily on the internal control of operations via the value chain‚ whereas Shank concentrates on value addition. Porter’s model utilizes internal cost strategies for internal reduction of costs to increase value only on the value additions (microcosm) whereas Shank expands the value chain against both internal and external
Premium Value added Cost Costs
Buchbinder and Shanks define fraud as an "intentional act of deception"(2017). Intentionally upcoding or undercoding and filing false claims are examples of fraud (Washlick‚ 2014). A physician commited fraud because he signed blank prescriptions and certificates for medical necessity without even seeing the patient ( Rudman et al.‚ 2009). The outcome of this particular example was an order to pay 727 thousand dollars and a sentence of twenty four years in prison (Rudman et al.‚ 2009). The physician
Premium Health care Medicine Patient
Overview Gibson Insurance Company has tasked Rebecca Hampton‚ the controller‚ with reviewing the company ’s allocation of corporate support costs in order to better assign the cost attributed to product lines and business units. This is important because it would help to provide better information for pricing decisions‚ sales compensation‚ and focus on areas in cost improvement. Gibson sells two categories of financial products: annuities and life insurance. They are both sold by in-house sales
Premium Costs Insurance Cost accounting
GIBSON INSURANCE COMPANY Activity-Based Costing; Allocating Corporate Costs DATE OCT 22‚ 2012 CASE ANALYSIS Gibson Insurance Company sells two types of financial products: annuities and life insurance‚ all sales are done by in-house agents. The annuities are tax deferred investments that offer scheduled payout options and lump sums to their investors. The life insurance policies pay benefits to the designated beneficiaries in the event the policyholder passes away. At the end of
Premium Costs Cost driver Management accounting
Gibson Insurance Company Synopsis Gibson Company is an insurance company that mainly sells annuities and life insurance. Gibson possesses two subsidiary companies‚ Midwest and Compton‚ which also sell the same products but with different prices and features. Both subsidiaries rely on Gibson provides administrative supports for maintaining. Gibson used to use an objective measure to calculate each policy as the support costs allocation basis. The original method did not reflect the real cost
Premium Patient Psychology Management
ABSTRACT Gibson Insurance Company (GIC) faces a challenge during the current year. GIC’s current cost allocation system must be revised to accommodate the implementation of a new management planning and performance management system. The goal is to better allocate GIC’s corporate support-service costs to the business lines and business units in a result of more precise pricing strategies‚ sales compensation and improved cost control. We have analyzed GIC’s situation based on the given information
Premium Cost accounting
I cannot think of anyone more qualified to be named Clay County Schools teacher of the year . Mrs. Gibson loves her students with all of her heart and constantly seems to be thinking about the welfare of her students . She gives up several afternoons ‚ evening and even some weekends to take the marching band to football games and contests ‚ she holds marching band practice on Tuesdays and Thursdays after school ‚ she takes students to all-district band auditions ‚ she has offered to teach students
Premium High school Education Teacher