assignment 3 Essay

In this case, there are several conspirators who is involved in the fraud receiving punishment from either SEC or federal government. Robert Levin, the AMRE executive and major stockholder, and Dennie D.Brown, the company’s chief accounting officer, were subject to the punishment in the form of a huge amount of fine by the SEC and the federal government. This punishment came from reasons. After AMRE going public, the company have the obligation to publish its financial reports but its performance did not meet expectation. The investigation by SEC shows that Robert took the first step of this scam, fearing the sharp drop of AMRE’s stock price because of the poor performance of company. He abetted Brown, to practice three main schemes to present a false appearance of profitable and pleasant financial reports. Firstly, they instructed Walter W.Richardson, the company’s vice president of data processing, to enter fictitious unset leads in the lead bank and they originally deferred the advertising cost mutiplying “cost per lead” and “unset leads” amount, so that they deferred a portion of its advertising costs in an asset account. The capitalizing of advertising expenses allowed them to inflate the net income for the first quarter of fiscal 1988. Secondly, at the end of the third and fourth quarters of fiscal 1988, they added fictitious inventory to AMRE’s ending inventory records, and prepared bogus inventory count sheets for the auditors. Thirdly, they overstated the percentage

What is the thesis of Johnson’s essay? If it is stated directly, locate the relevant sentence or sentences. If it is implied, state the thesis in

1. The pressure announced on last night's television weather broadcast was 29.92. Explain how this was measured and give the units. Would this be considered an unusually large or low pressure value?

2. Draw a flow diagram of the unit operations involved in sugar refining and at each step write a brief sentence explaining what is occurring.  Use the information from SKIL site to develop your flow chart.  Since the information does not start from the beginning of the refining process, please include an extraction step (extraction is explained in your textbook).  Either milling or diffusion is

The teacher has to be responsible for designing the scheme of work, lesson plans, obtaining up to date qualification handbooks, agree individual learning plans, carrying out risk assessments, write realistic aims.

Offer- This is defined as a clear manifestation of willingness to enter an agreement made by another person with full understanding that their assent to the bargain is an invitation and is concluded.

1) You can call the module several times instead of writing it out each time.

Read the following short essay, and then write a 3-5 page response (12-point font, double-spaced, normal margins, no cover page, no binders). Your response should do the following three things: (1) state what the main conclusion of the essay is; (2) state what the most important premises (including sub-conclusions) are—i.e., state which premises are most important if the argument is to rationally convince its audience; (3) evaluate the quality of the argument, giving detailed reasons to justify your evaluation. For purposes of evaluation, assume that the speaker is a contemporary Canadian philosopher and the audience is a group of students in Introduction to Philosophy.

o MCI auditors, failed to report the anomalies found during their audits, it was their intrinsic responsibility to advise the audit committee and shareholders which they never did, allowing

Some of the provisions related to this scandal are the certification of accuracy of the company’s financials, auditing firms are not allowed to offer non-auditing services and preclude financial expert to make profit or take advantage of the company’s financials for their own interest.

The author of this report is asked to present a report that covers a real corporate fraud and how to help prevent it through techniques and metrics. The author is asked to present five major answers. The first answer is to how to implement the investigation and thus help fetter out who is the culprit and how deep and wide the fraud goes. The second question asks the author to detail what types of surveillance and review will be undertaken including techniques that are covert and unknown to the people being watched up to and including the highest executives of the firm. Red flags that would arise suspicions are to be identified as well as key practices to be used interviews with people with potential knowledge or even involvement in such crimes. In conclusion, a fraud prevention plan will be articulated.

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)

1) What should have been the key points of the audit/fraud investigation report? What supportable audit conclusions could be drawn?

The ZZZZ Best case was such that management set out to conceal the fraud from the Securities and Exchange Commission, their clients and investors, and the auditors engaged to conduct the audits of their public financial statements. The foremost question is, should said auditors be held accountable for their failures in cases where management goes to excessive lengths to purposely conceal such fraudulent activities from the auditors. The

With regard to the WorldCom case, both of the two criteria for detecting the fraudulent reporting have been fulfilled. Firstly, it is clear that the CFO Sullivan had many years’ experience in accounting and financing thus should and must know using the two accounting tactics which boosting the profit and E/R figure would mislead and deceive the shareholders of the true economic stance of the company. Besides, the management team intentionally to limit the access to the information of the auditor. It can be found there exist clear intent of deceiving the investor and hiding the true information. Secondly, it is clear that both the accrual releases and the capitalization of line costs greatly altered the numbers in finance statements. The investor are actually provided with misleading information and made decision based on those mispresented numbers which lead to incorrect investing decisions. In fact, the market responded rapidly and stock of WorldCom became nearly worthless after the event. Therefore, it is clear the accounting fraud by WorldCom results materially misleading financial statement and the senior manager crossed the line between earnings management and fraudulent reporting.