Summary: SEC Vs. Diamond Food, Inc.

Stephen Richards’s actions were extremely serious; manipulating Computer Associates’ quarter end cutoff to align CA’s reported financial results with market expectations by violating the generally accepted accounting principles and their financial reporting responsibilities. According to the U.S. Securities and Exchange Commission, Richards with other CA executives extended CA’s fiscal quarter, “ instructed and allowed subordinates to negotiate and obtain contracts after quarter end while knowing, or recklessly disregarding the fact that, CA would improperly recognize the revenue from those contracts, and failed to alert CA’s Finance or Sales Accounting Department that CA salespersons

The Enron and WorldCom scandals were arguably the incidents that permanently changed the procedures for accounting controls. In response to these incidents, the Sarbanes-Oxley Act (SOX) of 2002 was passed. Once the knowledge of these scandals was made public, a number of subsequent accounting scandals were discovered in public companies such as Tyco International, HealthSouth, and American Insurance Group. In addition, a then-employee-owned company, Post, Buckley, Schuh & Jernigan, Inc. (dba PBS&J, now known as “Atkins North America, Inc.”), was also hit by a similar accounting scandal. Henceforth, a case study of PBS&J is presented where we will examine the fraudulent transactions that

Boston Beer Company (BBC) has enjoyed much success with their craft beers with Samuel Adams as their main focus. Being the leader of this segment, overtopping five of their competitors combined (Exhibit 1), the company now must decide how to take advantage of the light beer market. Boston Lightship, their current light beer, had been a small contributor in BBC’s product line. Currently, it is facing dwindling sales with product volumes down from 12 000 cases per month to 3000 cases per month.

In determining whether a genuine issue of the material fact whether a genuine issue of material fact occurs regarding the reasonableness of the requested accommodation, we first examine whether Turners facial presenting that her proposed accommodation is possible. If appellant has made out a prima facie showing, the load then shifts to prove a favorable defense, that the accommodations requested by Turner are unreasonable or would cause an undue hardship on the employer. In contrast, If Turner has satisfied her initial burden, Turners proposed accommodation seems practical. At this time, Hershey rotations policy is new one which had never been required of employees in Turners position. If Turner's proposed accommodation would permit the new rotation program to endure, even though on a modified basis. Under Turners proposed accommodation, each inspector could continue to rotate on the hourly basis, with Turners, herself, rotating only between line 8 and 9. Hershey has not put up with that because this is not practical or

Access the "Litigation" section of the SEC's website at www.sec.gov/litigation.shtml. Click on "Accounting and Auditing Enforcement Releases." Click on "AAER-3234" filed January 20, 2011. Read the release and the related SEC Complaint. Summarize the release and complaint in 2-3 pages (12-point, double spaced).

This particular case, involving the SEC, Coopers & Lybrand, and California Micro Devices, Inc. encompasses charges for neglecting to comply with auditing standards. The Securities and Exchange Commission makes these charges against Michael Marrie, audit partner, and Brian Berry, manager, of Coopers & Lybrand. There are three main areas in which the auditing standards were not in compliance, a write-off of accounts receivable, confirmation of accounts receivable and sales returns and allowances. The Securities and Exchange Commission make these accusations against Michael and Brian for failure

Saxonville sausage, a privately held company has been doing business for 70 years. In 2005, the company had revenues of approximately $1.5 billion from a variety of its fresh pork sausages. The company is producing three main types of products namely: bratwurst, breakfast sausage and an Italian sausage Vivio. The main source of revenue for the company is bratwurst (70%) followed by breakfast sausage (20%). But since 2004, the company is experiencing problems: bratwurst and breakfast sausage has been facing a stagnant growth; however Saxonville, due to poor performance with breakfast sausage had a double digit decline in revenues which resulted in being ranked 6 out of 8 in market share of the

The story of these infamous diamonds all started with a fifteen year old who found a diamond in his father 's arm. The diamond business started in 1935 when “De Beers” took all control over dining prospects in Sierra Leone. De Beers are a group of companies has a main role in the exploration of diamonds, as well as diamond mining, diamond retail, diamond trading, and industrial diamond manufacturing sectors.This group was founded in 1888, and they are responsible for the problems Sierra Leone is facing today. These diamonds can be found in volcanic pipes. Diamonds are a pure form of carbon in a transparent state. Diamonds have always been a sign of wealth. Historically kings and queens were known for wearing these. Over time many people began lusting over them.

Foods Fantastic Company is a public company which mainly operating regional grocery store in Maryland. This Company relies on application programs, such as bar-code scanner, to entre sales to the system. The FFC majority depends on the computer system to run their business. Based on this situation, the Information General Controls review is necessary for this company as the reason that ITGC is the foundation of every categories of the internal control.

Diamond Foods, Inc. was founded in 1912 and was publicly traded in 2005 as a distributor of potato chips, snack nuts, popcorn, shell nuts, and culinary nuts. Its brands include: Kettle Brand Chips, Emerald snack nuts, Pop Secret popcorn, and Diamond of California nuts (Gujarathi, 2015, p. 47). The company motto was always “bigger is better,” which was implemented by former CEO Michael Mendes (Mendes) to meet high performance expectations and keep up with the competition in the snack industry (Gujarathi, 2015, p. 50). Around late 2009, questionable behavior of fraud began to occur at Diamond leaving the company in a great amount of loss. Mendes and CFO Steven Neil (Neil) pressured Diamond’s accounting department to

From time to time, corporate executives encounter ethical dilemmas that seem rather challenging. In this text, I concern myself with an ethical dilemma faced by the top leadership of Nutritional Foods Inc. In so doing, I will amongst other things explain (in detail) the actions I would take were I to find myself in a similar scenario. I will also explain not only the reasoning behind my actions, but also the results I would be expecting.

Buying: is when retailers purchase a large quantity of the product while it’s available at a lower price–to-retailer (PTR). It is somehow problematic because retailers could either raise the price-to-customer (PTC) back to the regular price level after the intended period of the promotion and pocket the difference, or they could continue to sell the product at a lower PTC beyond the intended period and thereby condition customers to expect prices to remain lower.

United Beverages’ CEO is debating with his department heads on the course of action the company is going to take in the future. Their flagship product, GangBuster, has been highly successful for the past 5 years. However, they have been thinking of entering the market for Energy Drinks for kids. Paul Diaz also comes up with a revolutionary idea of the dual-drink, having two separate flavored drinks in a bottle and being able to mix both flavors. Due to the limited resources of United Beverages, they have two weeks to decide whether to expand their portfolio or not?

Food Inc. is a good example of globalization due to the way that the food is made. The food is being made faster and cheaper, and America is taking the food industry by storm. The agricultural sector in the United States is a force that is unlike no other. We have engineered a way to create the food faster, and to make more of it fast. They have found a way to modify the crops to grow even taller and yield more vegetation. For the animals, they have discovered that corn makes them fatter faster. By doing so though, they are also creating major problems in the food system. Diseases are being created and spread. These diseases include salmonella,

By all accounts, Frank Perdue was a workaholic. He was a true entrepreneur. With little education, he started his own company, worked long hours, made many single handed decisions and grew the company. He was a traditional leader and used a centralized management style and kept decision making authority in his own hands. Initially, employees were expected to just do their jobs and it was not until later years that Frank encouraged employee participation in quality and operational decisions.