Unit 9 Final Project: Integrity in Accounting “In 2001 and 2002 corporate giants like Enron‚ Global Crossing‚ and WorldCom were forced to declare bankruptcy‚ and massive accounting and other irregularities were revealed… In response to the public outcry that ensued‚ the [Sarbanes-Oxley] Act was enacted” (Lander‚ 2004‚ p. 1). Officials feared that because of these scandals in the financial reporting industry that investor confidence would be lost‚ which would cause the economy to deteriorate.
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The history of accounting is as old as civilization and is among the most important professions in economic and cultural development. Much of what we know about the daily lives of ancient people comes from accounting records‚ such as inventories and sales records‚ found at archeological sites. People in all civilizations have maintained various types of records of business activities and the earliest known records kept are the clay tablet records for the payment of wages in the Mesopotamian Valley
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process. The financial reporting process is governed by accounting rules and standards‚ managerial incentives‚ and enforcement and monitoring mechanisms. It is important for a user of financial information to understand the financial reporting environment along with the accounting information presented in financial statements. In this chapter‚ the concepts underlying financial reporting are discussed with special emphasis on accounting rules. Next the purpose of financial reporting is discussed
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| Apple Apple Inc. is one of the most successful companies in the United States and in the world. Apple Inc. is a multinational company that specializes in the manufacturing of electronic equipment like smartphones‚ software and computers. The company is well known to everyone for products like iPhone‚ Macintosh‚ iPad and iPod. Apple came into existence as the joint effort of Steve Jobs and Steve Wozniak. Wozniak was the mind behind the technology while Jobs was mind behind the marketing strategies
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The GAP‚ Inc. The Fiscal year Ended January 28‚ 2012 A. INTRODUCTION AND OVERVIEW 1. Financial Statements Included in the Annual Report 2.1. Consolidated Statements of Cash Flow 2. Major Competitors of the GAP‚ Inc. American Eagle Outfitters‚ Inc.‚ J. Crew Group‚ Inc.‚ and the TJX Companies‚ Inc. can be shown as the major competitors for the GAP‚ Inc. Based on the data given in annual reports of the companies‚ gross margin % for GAP‚ Inc. is 36%‚ while American Eagle Outfitters
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Case : Foremostco‚ Inc. (A) Foremostco Inc. was a family run business of 60 employees and they had grown really fast in 90s. They had become the largest source of imported starter plant material in North America. In the year 2000‚ they replaced their legacy IT system with the new one and faced issue of computer system breakdown. Issue in consideration: • Why did this project get into such trouble? • What should be done to recover from the crisis described in the case? Solution: Foremostco faced
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Food Inc. The movie Food‚ Inc. too a very interesting idea “Where does our food come from” and took the audience on a wild ride showing us the true side of food. The creator of the movie took a very simple idea and changed my and many other people’s outlook on what we are eating. The movie showed everything from how major food brands conduct business to how all-natural and organic brands are starting to make their way into our homes. Anyone that watches this movie would start to second think
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com/global/about-mars/mars-pia/business-summaries.aspx Chris Pearson. (2010). Marketing Mix. Available: http://jurnal-sdm.blogspot.com/2010/01/konsep-bauran-pemasaran- marketing-mix.html# Euromonitor International. 2012. Mars Inc in Packaged Food. [ONLINE] Available at: http://www.euromonitor.com/mars-inc-in-packaged-food/report www.kitkat.weebly.com. 2012. KITKAT - Brand positioning. [ONLINE] Available at: http://breakwithkitkat.weebly.com/brand-positioning.html www.mars.com. 2012. Targets and Process. [ONLINE]
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limit to what can be achieved. An American Filmmaker‚ Robert Kenner‚ released a documentary Food Inc‚ a perfect example of greed and disregard for what can be considered ethical in the food industry. Kenner was inspired to make this film after reading Fast Food Nation to show how portray the whole supermarket has become industrialized almost resembling the fast-food industries. The documentary Food Inc. is about slaughter houses‚ food manufacturing‚ and other food related subsets. The film relies
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Edita Mercado Su Jane Acct 301 FASB Codification Assignment 3/13/2013 Professional Research: FASB Codification A. Identify relevant Codification section that addresses transfers of receivables. The relevant codification section that addresses transfers of receivables is the following: FASB ASC 860-10-05-15. C. Provide definitions for the following: 1) Transfer: The conveyance of a noncash financial asset by and to someone other than the issuer of that
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