Accounting policy efficiency and reliability Target Corporation’s accounting policy is both efficient and reliable. However, in relation to the ratios discussed earlier, the use of estimates accounting policy is one that may require additional attention. This policy requires management to make estimates and assumptions affecting reporting amounts in the consolidated financial statements which can link to the payout ratio, the return on assets ratio (ROA), and also the earnings per share ratio (EPS). By comparing the estimates, management makes in comparison to the actual numbers presented in the statement, it would support us to make reflections on numbers that look unusual. All three ratios connect to the assertion accuracy since their amount
Dick Smith – External Influences, Markets Article: http://theconversation.com/dick-smith-couldnt-compete-and-that-is-why-it-failed-52755 Dick Smith – Markets Dick Smith couldn’t compete with the external influence of existing and rising markets, and this is why it failed to reach targets causing it to go into receivership. Although Dick Smith was also impacted by internal influences, the main impact on the business was the external influence of markets. Because of the size of the existing market it failed to compete with big brands that have begun to expand and/or launch into the retail market of technology in the past 5 years such as JB HIFI, Harvey Norman, Aldi and Office Works.
Additionally, the faction is individuals were appointed to be on a healthcare board with no medical background. The board consisted of successful business people that lacked or failed to enforce business processes, marketing and operational knowledge. Another challenge people in leadership positions did not care if the work was performed. However, leaders on the board nor leaders connected to the organizations refused to participate with enforcing employees to follow policies set forth. These companies conducted several mergers and each entity are connected with the board fail to deliver positive results in any capacity.
Sidney Stratton petitions for a motion to dismiss Burnley Mills’s complaint. Mr. Stratton did not breach his contract by not adhering to the non-compete clause, because § 16600 of the California Business and Professions Code states that, “Except as provided in this chapter, every contract by which anyone is restrained from engaging in a lawful profession, trade, or business of any kind is to that extent void.” Additionally, the complaint does not possess enough factual matter to suggest that Burnley has a valid claim. (Bell Atlantic Corp. v. Twombly) The complaint is not well argued because it is not non-conclusory and irrefutably supported by facts, it is not plausible under the circumstances of the case, nor is it factually true.
The Internal Affairs Unit became the main anticorruption program as a response to crimes committed by officers during the course of their duties. This unit is task with investigating officers who are accused of misconduct. In order for the Internal Affairs Unit or designee (depending upon the size of the department) to be involved, the officer must be accused of displaying either unethical, unscrupulous or immoral behavior. These actions go against departments policy of less than professional standards and are investigator in an effort to maintain the communities respect.
During the late 90’s and early 2000’s, several key companies in the United States were exposed for fraudulent reporting profits
The West Point: The Cheating Incident case examines the events surrounding a cheating scandal that occurred in West Point Academy in April of 1976. West Point is one of the longest standing military academies in the United States. West Point aims to groom Army officers using a rigid program that features both academic and physical challenges, which enable its student body to develop the mental and carnal maturity and endurance needed for leadership roles throughout future combat on the battlefield. West Point’s program is so rigorous in order to mimic the stress that soldiers will endure during periods of war. West Point holds its student body to a very high standard and their honor code as dictated by the Cadet Honor Committee exalts the virtues of honesty and integrity by stating,
In the article “Stronger Economy Cited as U.S. Reports Lowest Budget Deficit of Obama’s Tenure” by Julie Hirschfeld Davis she explains how obama’s administration announced that the Federal Budget Deficit fell to the lowest point ever since obama took over office. Although the deficit being at its lowest point is bad news they also said that the economy is strengthening which is good news. The Treasury Department and the Office of Management and Budget reported that In 2015 the FBD was $439 billion that is $44 billion less than last year. “Under the president’s leadership, the deficit has been cut by roughly threequarters as a share of the economy since 2009 the fastest sustained deficit reduction since just after World War II,” Treasury Secretary
GE while under Welch achieved one of its primary goals, to make profit. During the time Welch was CEO for GE, shareholders were satisfied by the performance and profit produced from GE. Welch’s
Enron Analysis Enron is a great play which presents a dry story about business in a colorful and cartoonish way and impressed me with a variety of elements, including video, music, choreography, and dance. This is a play depicts the spectacular collapse of a Texan energy giant-Enron. As an audience, I witnessed how a business empire was built on shadows, accruing debts of 38 billion dollars and finally going bust in this two hours and thirty minutes play. In the following passage, I will describe, analyze, and interpret this play both about its script, including characters and plots, and its production, such as the videos, stage props and customs.
The AIG Scandal 2005 started when AIG management was issuing a press release describing its third quarter earnings in 2000 to the public. The report showed that the premium of AIG was significantly increasing, while its loss reserves was decreasing by $59 million. However, according to many industry analysts, along with the positive earnings, AIG in fact should show an increase in its loss reserves as well. This caused the investors of AIG suspected that AIG was drawing down its loss reserves to boost its profits. The suspicious of the investors has unfortunately led to the falling of AIG stock price from $99.60 to $93.30 on New York Stock Exchange (NYSE).
Executive Summary Lehman Brothers were an investment bank involved in transactions worth billions of dollars and one of the most powerful investment banks in the world. Lehman Brothers collapsed in 2008 following bad investment in the sub-prime mortgage market and used bad accounting practices called Repo 105 transactions to try and cover up the bad assets. This report sets out the use of the fraud triangle when describing the actions which led to the collapse. The pressure applied on the bank, the opportunity due to the lack of regulation to carry out the actions and the ability of the bank to rationalise their decision making.
Introduction The main objective of the paper is to develop a report for a shareholder that will interpret financial statements of Tesco Plc. for 2013-2014. The shareholder is specifically concerned about the fraudulent reporting. In this way, the paper will explain the reason of income statement and statement of financial position.
The basic functions like legal and tax issues, benefits, EDI, credit and collection, and financial control systems were administrated from this centralized corporate office. Exhibit_8 shows the company’s organization chart as on October 1998. Board of directors chairman W.P Sovey followed by vice chairman & CEO J.J McDonough and president & COO T.A Ferguson represents the very top corporate leadership. Under them, top financial responsibilities were divided between two corporate executives: Vice President-Finance who managed outside asset and liability, and senior vice president-Corporate Controller who focused on internal operations. They reported directly to company president and president reported to CEO.
The false accounting records were unethical because it means management was enriching themselves. They were getting earnings based on the false availability of funds. They also did this to keep their jobs. When a company is not performing financially well the top positions are the ones usually at risk of being retrenched, as a result of implying the company was financially stable they were protecting their jobs. False accounting also results in duping investors that trust the financial records of the company.
