Closing Bell Speaker Series

The company will have a middleman role, which connects the suppliers to its clients. There are few economies of scale in place because there is no significant capital investment required and specialised technology is not required. The company will likely encounter other competitors coming into the market when it commences sooner or later. However, its strong brand development achieved by successful and stable customer relationship established will lead to a low threat of new entrants in the market.

| (TCO A) An AICPA committee in 1986 broke forensic accounting into two broad areas:

Internal fraud consists in “a type of fraud that is committed by an individual against an organization. [Furthermore], a perpetrator of fraud engages in activities that are designed to defraud, misappropriate property, or circumvent the regulations, law, or policies of a company”[8]. Not only has the incidence of internal fraud increased in frequency because of the availability of sensitive information such as client details or confidential business documents; moreover, this type of fraud is found in various types of organizations, ranging from corporations, public service institutions and financial institutions. Our analysis will concentrate on the most common and prolific types of internal fraud, namely identity theft, insider trading, loan fraud and wire fraud. Interestingly, PriceWaterhouseCooper conducted a survey that revealed that the “demographics of a typical fraudster are as follows: males (85% of cases), 31-50 years (72% of cases), reached high-school level (50%), Bachelor’s or post graduate degree (50%) and middle or senior management (52%)”[9].

In fraud committed against organizations, the victim of fraud is the employee’s organization. In frauds committed on behalf of an organization, executives usually are involved in some type of financial statement fraud; typically, to make the company’s reported financial results appear better than they actually are. In this second case, the victims are investors in the company’s stock. A third way to classify frauds is via the use of the ACFE’s occupational fraud definition, “the use of one’s occupation for personnel enrichment through the deliberate misuse or misapplication of the employing organization’s resources or assets” (ACFE, 2010). The ACFE includes three major categories of occupational fraud: asset misappropriations involves the theft or misuse of the organization’s assets, corruption involves the wrongful use of influence in a business transaction in order to procure benefits contrary to their duty to their employer, and fraudulent financial statements involving falsification of an organization’s financial statements for personal gain.

The term 'suppliers' comprises all sources for inputs that are needed in order to provide goods or services. If there is a market with much choice supplier choice, bargaining power will be less.

The Closing Bell speaker on April 21, 2016, was Christian Robinson and Akilah Thompson. The topic for these speaker was “Release the BEaST: Be Bold, Be Brilliant, Be Legendary”. Christian is the Special Assistant to the U.S. Secretary of Education and Akilah is an entrepreneur and works with ACT Inspires, Inc.

The event that I attended was hosted by the Academic Success & Tutoring Center (ASTC). It was a one hour program that was part of series to help new students ease into and survive their first semester at Stony Brook University. The particular topic that I decided to attend was Goals and Motivation. I have a hard time staying motivated and getting my work done. I always seem to wait until the last minute to do things and then I break down because I am so stressed out. I'm also having second thoughts on what I want to do in my life and how I am going to get there. Therefore I thought that this topic was particularly good for me and I think that it was actually quite helpful.

In this course, students are introduced to the conduct of fraud examinations, including a discussion of specific procedures used in forensic accounting examinations and the reasoning behind these procedures. Topics include an overview of fraud and abuse, forensic evidence, substantive procedures for cash outflow irregularities, substantive procedures for asset irregularities, financial statement fraud, and examination reporting.

• Many wholesaler companies in existing market • Low switching cost • No obvious differences among the wholesalers • Products are similar - Substitute products (Low) • A lot of substitutes • No differences among Substitutes • Commodity products based -Bargaining power of suppliers (Low) • A lot of suppliers • Low cost to change suppliers • Large amount of supply -Bargaining power of customers (High) • Wide range

AICPA Code of Professional Conduct principles prevents vises such as fraud that are experienced in accountancy field. Audit is the best measure of the effect of the fraud that are imposed to investors by accountants. The relationship of the investors and account holders are supposed to be affirmed through auditing to ensure accounting principles are upheld(Weirich, Pearson, & Churyk, 2010). Improper loss of the funds through propagation of the accountant officer should be treated as fraud and criminal activity that should lead to prosecution. Therefore, the paper seeks to relate two fraud cases that have been audited and presenting AICPA Code of

Any retailers without loyalty buyers will quickly fail. Therefore, attracting more potential customers, acquiring more new customers, and maintain more loyal customers will help a company success in the high competing industry. Also, if retailers can get the suppliers with lower price or better quality product, the more likely a retailer could win in the industry. Since there are only limited number of suppliers in the industry and the merchant they supply account for a larger part of the retailer’s sales. All of the retailers are competing for the

In today’s society, white collar crime is now becoming more widely known because of the advancement of technological devices and brilliant minds. In fact, over 730,000 counts of suspected financial wrongoing were recorded in America last year, according to recent data from the Treasury Department 's Financial Crimes Enforcement Network (The Economist, 2009). White Collar Crime is a term reportedly coined in 1939—is now synonymous with the full range of frauds committed by business and government professionals including one of the many called “Check Kiting” (FBI, 2010). White collar crime is described by the federal bureau investigation (FBI) in three words: Lying, cheating, and stealing which is exactly the kind of people that Scott in this case analysis has to deal with. In this case, the Operations Manager, Scott at a small bank has the duties of overseeing transactions and defining clients who use bad checks. While going through the daily routine, he finds that his wife’s friend, who is the chief financial officer of the bank, appears to be involved in check kiting. According to the business dictionary, check Kiting is a form of check fraud, in which checks are issued against funds that a bank has credited into an account for deposited, uncleared checks. With careful timing of deposits and withdrawals, this scam can be turned into a large sum. Furthermore, In addition to knowing the suspect, Scott also is aware the CFO is also involved in an unsteady

* Obtained, reviewed, and analyzed financial documents of Tallahassee BeanCounters including ledgers, purchase orders, invoices, purchase records, and salary information

Before developing a detailed perception of the ethical issues in financial accounting, one must know the concepts and ideas behind financial accounting. Financial accounting is a “field of accounting that treats money as a means of measuring economic performance instead of as a factor of production” (Financial Accounting, 2014, para. 1). This particular field “encompasses the entire system of monitoring and control of money as it flows in and out of an organization as assets and liabilities, and revenues and expenses” (Financial Accounting, 2014, para. 1). It is evident that the structure of financial accounting allows much leeway for an individual to cheat the system in several ways. Employees in the