They also included a share of the costs associated with running the hubs at two airports, such as ticket agents, building charges, baggage handlers, gate charges, etc. Suppose that the revenue collected on the typical United flight from San Francisco to Washington does not cover these costs. Does this fact imply that United should discontinue these flights? Explain. Based on the book when there are competitive markets such as airlines, a company certainly needs to look at costs and revenue very closely.
According to WITN.com news channel Josey embezzled the money from legitimate payee accounts of the corporation’s general accounts and then converted the money to her own use. She would conceal the movement of money by stamping corporate checks with a made up office stamp with one of the five corporation names so that it appeared the money was going to where it needed to. Deputies say that she then used the money to pay off loans, debts, obtain property, pay insurance, and pay for exotic trips and vacations. Josey had been embezzling the money over the seventeen years that she worked there. It was discovered when Gilliken tried to use a debit card Josey had gotten for him.
ASSIGNMENT 07 BU470 Strategic Management Terry Wilson, a seasoned marketing veteran, has recently decided to explore growth options for Tuscan Treasures, an importer of Italian furniture. Profits are declining and Mr. Wilson must decide whether to downsize or expand to improve the situation. You have been asked to advise Mr. Wilson on which growth strategy would best aid Tuscan Treasures should he chose that route. You have also been asked to provide Mr. Wilson with a better understanding of why profits have been down recently, including possible causes of the decline. He also wants to know what he would need to do if he decides to downsize he operation.
Financial Statement Fraud Schemes Taisha Ransom ACC-556 September 30, 2013 Kimberly Warren Financial Statement Fraud Schemes Financial statement fraud is the “deliberate misstatements or omissions of amounts or disclosures of financial statements to deceive financial statement users, particularly investors and creditors” (Wells, 2011, p. 6). A fraud investigator has been assigned to Apollo Shoes, Inc. to determine what type of fraud schemes are likely to be present in the company. The investigator will make this determination based on the nature of business at the company and any evidence presented. The following brief will describe evidence the fraud investigator must collect to determine if fraud is present. The briefly will also
Though the Italians had a victory at Vittorio Veneto in 1918, the psychological impact of Caporetto was huge. The retreat brought shame and humiliation to Italy. By the end of the war in 1918, 600,000 Italians were dead, 950,000 were wounded and 250,000 were crippled for life. The war cost more than the government had spent in the previous 50 years – and Italy had only been in the war three years. By 1918, the country was hit by very high inflation and unemployment was high.
She is the person have red flags which lifestyle beyond their current means. The weak internal control let Sue see perceived opportunity to get the extra money. Under the rationalization of compulsive shopping disorder, she start committed the fraud with her assistance Julie. According to the Sarbanes-Oxley Act (2002), the senior management especially CEO have responsibility of design, maintenance and effective operation of internal control. Clearly, Michael, serves as vice chairman, president, CEO, COO, and CFO have responsibility on internal control.
External users most commonly include creditors, tax Authorities, investors, and customers. • Her supervisor (the chief accountant, who evaluates her). b) By adding $1,000 to the Equipment account within the trial balance, that account total is intentionally misstated. By not locating the error causing the imbalance, some other account(s) may also be misstated. Vu’s actions do not hold malicious or dangerous intent, but they still a strong incentive to manipulate financial reports in order to gain more money and status within her company.
If so, explain. Yes, WIRETIME, Inc. has committed a tort called tortious interference with a contract. They caused a contracting party to commit a breach of contract. They induced Janet to not fulfill her contract by interfering for their own benefit. Janet can prove that the third-party interferer acted intentionally, by their actions and the contractual breach (which they were aware of).
Maxwell Case Fraud Investigation Summary This report deals with the internal investigation of fraudulent activities committed by Anna Thomas of Maxwell and Company. The investigation determined that Anna had been making personal charges and cash withdrawals on Rusher Automotive’s credit card for two and a half years. Introduction The accounting profession believes there are three conditions necessary for fraudulent behavior, as well as a responsibility to to perform quality services with integrity, objectivity, and professionalism. Accounting firms have the responsibility to hire and monitor competent personnel, so they can fulfill their assigned responsibilities. This report will explain how all three conditions were present in Anna’s actions, how Max and Company failed to uphold quality, and describe Anna’s background.
The Prosecution of Computer Crime According to FBI assistant director Louis M. Reigel, there were 2, 300 Katrina-related sites, double the number two days earlier. Of the 800 the FBI had investigated, 60% were presumed to be bogus. On September 14, of the 4,000 sites claiming to offer assistance to Katrina victims, the FBI believes up to 60% are likely bogus. The FTC officials are expecting a new wave of credit cards complaints, such as promises of instant credit and new credit cards and loans, even though people have a bad credit history. To add, there are several types of Hurricane Katrina Scams that are in effect.