MAA350 ETHICS AND FINANCIAL SERVICES Trimester 2‚ 2013 ASSIGNMENT: LIVENT‚ INC.: An Instructional Case PART A Question A1 Outline the frauds identified in the case and explain the inconsistencies with proper accounting treatment. Relate your answer to broad accounting concepts and accounting standards where relevant. (8 marks; approximately 800 words) Answer: Livent Inc. is a theatre production corporation registered in Toronto‚ Canada. Therefore‚ all
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ABC SDN. BHD. (Incorporated in Malaysia) INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF ABC SDN. BHD. Report on the Financial Statements We have audited the financial statements of ABC SDN. BHD.‚ which comprise the balance sheets as at 30 September 2010 of the Group and of the Company‚ and the income statements‚ statements of changes in equity and cash flow statements of the Group and of the Company for the year then ended‚ and a summary of significant accounting policies and other explanatory
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contingent liability is remote‚ the liability usually is: A) disclosed in footnotes‚ but not accrued. B) neither accrued nor disclosed in footnotes. C) accrued and indicated in the body of the financial statements. D) disclosed in the auditor’s report but not disclosed on the financial statements. Answer: B Terms: Contingent liability; remote Diff: Easy Objective: LO 24-2 AACSB: Reflective thinking skills 2) A commitment is best described as: A) an agreement to commit the firm to a
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to protect family privacy. The author’s opinions do not necessarily reflect the views of the Malaysian Institute of Accountants and this case was written for academic purpose only and the author disclaims any legal responsibilities. This report will be discussed more details about the issues that arise in the company. Those issues are about the leadership‚ management and also accounting of the company. 1. What is the
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McDonalds’ Malaysia is very concerned about what they can provide to their stockholders‚ the public‚ customers and even the suppliers. Since McDonalds’ Malaysia first came to Malaysia on 29 April 1982‚ they are well-known for their high commitment in their corporate social responsibility. McDonalds’ cares about human rights and their customers. They do not employ forced labourers or child labourers. Besides that‚ McDonalds’ has anti discrimination policy‚ especially the discrimination against
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company The Annual Report The company website Industry sources SEC records 3 Information Sources NGOs Libraries - Local libraries - University libraries - Copyright and specialist libraries The Web - Search engines - Useful web techniques The Media - Media sources on the web - CD-Roms and indexes Industry sources - Company sources - Trade associations and professional institutes - Trade journals - Market research - Business directories - Business websites - Analysts’ reports Government sources
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SOUND FINANCIAL REPORTING IS A GOOD THING FOR BRINGING CONFIDENCE BACK TO THE CORPORATE WORLD Submitted By: Ahmed Shafiul Huq 801414063 Principle of Accounting (EIB505) Section: B Executive Master of Business Administration Submitted To: Mr. Mohammad Rakib Uddin Bhuiyan Assistant Professor Department of
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SOUND FINANCIAL REPORTING IS A GOOD THING FOR BRINGING CONFIDENCE BACK TO THE CORPORATE WORLD Submitted By: Ahmed Shafiul Huq 801414063 Principle of Accounting (EIB505) Section: B Executive Master of Business Administration Submitted To: Mr. Mohammad Rakib Uddin Bhuiyan Assistant Professor Department of
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best interest. The agent will voluntarily provide principal with related information to serve their interest such as providing the quarterly financial report that required the agent effort. Usually the agent will bear the bonding cost in order to guarantee their behavior towards principal. For example‚ the agent will produce quarterly annual report and disclose the important information to the principal from time to time to prove they behave in the best interest of principal. As a result‚ the agent
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reliable information and procyclicality trend. After evaluating the fair value method‚ two companies were selected which are Qantas and BPH Billion to reflect the real application of fair value and other alternative methods in their 2011 financial reports. The dominant measurement is still historical cost‚ but firms still widely use fair value in derivative financial instruments‚ employee share plan and so on. This article also comments the differences and similarities between two companies. The
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