White Collar Crime Case Studies Samples For Students

The case study on Salt Lake City, the Olympics, and Bribery manifested a complex scenario, which demands a critical valuation. The case involved the perceived default by professional heads of the Salt Lake City Olympic Committee (SLCOC) and members from the International Olympic Committee (IOC), who have the full understanding of the ethical and legal stipulations of their work. The analysis of the case requires exclusive consideration of all facets ranging from the activities, circumstances that led to the occurrences, the individuals involved and the required rules as well as the regulations governing the corporates. Therefore, the analysis would employ the ...

Terrorism

Forecast 1: The number of offenses reported to the police involving computers and electronic storage media will continue to increase substantially, requiring changing priorities for resource allocation, new training for line officers and investigators, new police specialties, and new knowledge for prosecuting attorneys and judges.
Electronic devices that store data are becoming varied and easily accessible. All of them are potential goldmine for investigators. At the same time their storage capacity is increasing; their size is getting smaller; and their prices plummeting. Against this background, modern criminal are using these devices in ways which are unfamiliar to investigators ...

In 2012, The New York Times published an investigative report on the violation of the Foreign Corrupt Practices Act by the top management of the Wal-Mart’s unit in Mexico. It came out that more than $24 million of bribes were paid to the Mexican government officials to obtain the permits for construction of the new stores.
Wal-Mart de Mexico, which controls more than 20% of Wal-Mart’s stores around the world, is a profitable business for the world’s largest retailer. The Wal-Mart’s former executive revealed in September 2005 that many senior managers were handing out bribes ...

Introduction:

According to a brief analysis, the rising issues of digital crime and digital terrorism requires training of law enforcement workers. In current situation, the law enforcement is not talented enough to handle the cases of digital crime and terrorism. There is no doubt in the fact that world is getting digitized every coming day so the knowledge of this world is mandatory in order to solve its issues. Following are eight forecasts which have been formulated after collecting data and analysis in many different situations.

Forecast 1:

Technology is changing rapidly and so are the ways to digital crime and terrorism. This ...

Fraud is a common problem in the contemporary legal landscape. Most evident after the fact, it is one of the primary causes of the 2007-2008 financial crisis, sending the country into a recession not seen before since the Great Depression. And yet, there are regulations and regulatory bodies in place that are tasked with eliminating the practice of fraud in the financial sector. In particular, the Securities and Exchange Commission is tasked with the prosecution and enforcement of suits against fraudulent traders. The present case is fertile ground for discussion in this regard, dealing directly with the phenomenon of insider trading ...

Nowadays, in the banks much attention is being paid to the management of the risk. People are now more aware of using bank as their medium of sending money from one place to another. In this regard, the risks of the money laundering are increasing, and this issue requires proper attention. Several guidelines have been provided in every country in order to properly manage the risk associated with the money laundering so that the activities that finance terrorism can be combated. The prudential management of the risk along with the effectual supervision plays an important role in the protection ...

It is vital to comprehend the similarities and differences between copyright infringement and plagiarism. Even though, copyright infringement and plagiarism have many overlaps, the two aspects also have critical disparities that student and other content creators need to comprehend. The paper discusses issues regarding copyright infringement and plagiarism and the mode of application of related rules on students.
In the student’s case, he could not be charged with copyright infringement because she did not violate any of the copyright laws. The action she indulged in had no legal bearing. It was purely ethical in the sense that ...

- Do any of the offices’ actions violate the FCPA?
Yes, some of the office’s actions are in direct violation of the FCPA. Although the FCPA allows payments that are meant to open doors and expedite the process, it does not allow those that intend to influence actions and outcomes. For instance, the Lima office offers kickbacks in order to get awarded contracts. These kickbacks are disguised as the commissions that are paid out by the sales people. This action directly influences that outcome of what would otherwise be a competitive bidding process. As such, these actions are ...

Madoff

Madoff was an American who was found guilty of fraud. He was in charge of a Ponzi scheme in the United States. The scheme is known to be one of the biggest financial fraud that ever happened in the United States of America. Madoff through his firm, Madoff Investment Securities, which bypassed other firms through making orders directly over the counter by making use of its retail brokers.
Those that assisted him in the fraud crimes included his close relations who he employed at his firm, Madoff Investment securities. He employed his brother and two sons as well as ...

In the case, the United States vs. Peter Madoff, the accused is Peter Madoff and the defendant is the United States which is representing the public. Peter was had been accused of aiding his brother, Bernard L, Madoff to swindle off investors huge amounts of money through a Ponzi scheme. His brother had been convicted of the crimes four years earlier to serve 150 years in jail. This case had been brought to a Manhattan court and the judge presiding over this case was U.S. District Judge Laura Taylor Swain. The questions of the case included when did peter Madoff first ...

QUESTION ONE:

Dubai is a city where both marketing and launch of both products and services takes place especially the fashion industry. It is an international centre for the lucrative trade of the goods and services where it mainly deals with the shipping and the logistics of the goods. This has led to the upcoming of the counterfeit products which may are made to resemble the original products illegally. The city of Dubai therefore also deals with re-export of counterfeit products to other countries. This practice is not healthy because counterfeit products will affect the price of the original products which are ...

Identity theft is a crime characterized by wrong acquisition and use of another person’s data in a deceptive and fraudulent manner for economic or other purposes. The World Wide Web has made it possible to obtain another person’s data and use in a fraudulent manner without his consent. Unlike fingerprints which are unique for each and every person, personal data especially social security numbers, bank account numbers, telephone calling card numbers and other information if they fall in the wrong hands, they may be used for the wrong reasons and cause considerable damage. In the United States for instance, a lot ...

Question One

I searched for a car, automobiles and motorcycles by category, from Germany Gold Supplier. After analyzing all the available options I landed on a Mercedes Benz ML 500 used car from Danimex GmbH, a verified Supplier. I was able to compare the car with other cars from other sellers.
The process provides an instant access to various products from various companies enabling comparison for best terms of sale. It is also easy to compare the prices and choose a potential value depending on your affordability. The website also provides a mechanism of contacting the seller for negotiations.

Question Two

Online sites like Alibaba provide a wide ...

Introduction

R. Allen Stanford, through the Stanford Financial Group, was involved in a financial scam in which investors lost an estimated $ 7.2 billion. This was through a massive ponzi scheme in which the Stanford financial Group offered investors a return on their investments which was higher than market rates. The investors were misled into believing that their investments were made conservatively.
Fraud was committed through the issue of certificates of deposit to investors through the Antiguan bank which was a subsidiary of the Stanford Financial Group. These certificates of deposit sold to investors were later discovered to be bogus.

Claims against Stanford’s auditors

Stanford’s auditors, BDO ...

Executive Summary

This case study focuses on identifying fraudulent issues taking place in the given four situation of Forensic Accounting. It identifies the issue on hand for every situation and goes further to discuss the in details the presence of elements such as coercion, collusion, and concealment. Nevertheless, the paper utilizes the fraud triangle to explain how the fraudulent acts are committed. The conclusion for each situation discusses the possible ways of addressing the issues being identified.

Introduction

Fraud have been on rise in forensic Accounting creating path for more investigations in order to identify ways in which these frauds arise and ...

The Methods of payments have moved from gold coins to cash to cheque to smart cards and E-payments. But still all methods have importance and existence, although some methods are not widely used and the ratio is changing every year. Statics show that even today in US nearly 50% of transitions are paper based payments while in 2003 it was 61% and in 1990 it was 81%. Technology is mainly reason behind rapid decreasing trends of paper payments. Technology has made possible for us to access our funds 24 hours and made E-payments 24 hours. Electronic payments were first ...

“Copyright infringement occurs when someone other than the copyright holder copies the “expression” of a work. This means that the idea or information behind the work is not protected, but how the idea is expressed is protected”. In this case, Mr. Samuel Johnson is clearly the holder of the copyright, although he did not label it with a copyright symbol. It however bears his name and address and it is fixed in a tangible form. Ms. Helen Smith obviously used Mr. Johnson’s work without getting his permission. She could have easily contacted Mr. Johnson and asked for his permission because the ...

Internal control techniques

In the management of firms, internal controls suffice for purposes of ensuring efficiencies and effectiveness in the execution of managerial duties. Internal controls could be employed to ensure that the accounting policies and financial reporting standards are complied with. Internal control refers to the framework that the management employs for the smooth running of the company. It should be noted that such controls emanate internally within the firm. The paper briefly discusses some internal control techniques employed by management regarding financial reporting. The objective is to ensure financial reporting is precise, accurate and provides a true and fair representation of ...

Why is white collar crime still prevalent?

White collar crimes refer to crimes that are financially motivated, as well as diplomatic crimes, which are committed for unlawful monetary gain (Israel, 2009). Several experts who carry out white collar crimes are never exposed. The individuals that get caught can face federal or state charges plus felony penalties (Kelly, 2002). White collar crimes are still prevalent in the United States since ordinary white collar cases are still prevalent in the country.

These cases include: bribery, fraud, stock manipulation, securities fraud, embezzlement, computer fraud, Medicaid fraud, extortion, hedge fund fraud, as well as a mortgage broker fraud among others. The ...

1. Which of the four privacy torts are involved with regard to this case? Is this a case of libel?

Libels as well with the invasion of privacy are two very important issues in communication law. Libel denotes to anything falsely printed and observed communication created of an individual with the intent to denigrate that individual. It is a printed depiction transmitting an unfair and inauspicious notion primed with the aim of spoiling an individual's repute. If the accused is capable of illustrating that the derogatory proclamation is fundamentally accurate, then the claimant's claim for libel will be unsuccessful. The publication requires solely be to a single individual, however it ought to be a declaration which declares to be reality, and is ...

Topic: Business Law

1. Explain how this scenario relates to an area of law taught in Introduction to Business Law. (2 marks)
Introduction to business law is a phenomenon that aids business mangers and everyone within the business environment to be aware of the legal environment that the business operates in. C & A engages an internal auditor to carry out auditing of their financial books of accounts and through intimidation, Julia who has been engaged as the internal auditor caries out the task negligently and later an external auditor is engaged to check on the correctness of the financial books. Fortunately or ...

Introduction

The charity organization has been selling donated products to the middle and low class people within its locality. Most of the operations in the shops are done manually. This leads to some items staying longer than they should in the shops thereby being scrapped. Determination of stocks has also been a problem as some shops are under stocked while others are overstocked. This results into goods being moved from one shop to another which is very costly. This has been attributed to the fact that there is any proper stock management system. The physical space for stocking the items or ...

The court will probably have to decide on the issue of modification of the credit cards, whether it failed, or not based on three things. To do this, it must ascertain whether there was sufficient consideration for the modification, whether the defendants participated in deceptive practices so as to encourage approval of the modification, and whether the defendants interpreted silence as approval, in infringement of the common law of contracts.

The plaintiff can argue based on breach of contract .in that, by considerably varying the terms and conditions of the agreement devoid of the plaintiffs' consent, the defendant breached ...

Introduction

Occupational therapy focuses on increasing participation in a client’s daily activities. It involves the identification of environmental barriers that limit the customer’s ability to perform his or her daily activities and eliminating them. This is done by modifying the tasks, educating and teaching the skills to the client to enhance his or her daily activities. More emphasis is placed on the needs and goals of the client.
Young@Heart is a film about a chorus composed of senior citizens. They sing contemporary songs as well as pop and classic rock songs. Eighty is the average age of ...

Institiution

According to the Wharton research, when an executive is overconfident and thinks that his organization is just facing the bad luck otherwise it is in best concern of all stakeholders. These stakeholders include customers, shareholders, management, creditors, and employees. The executive to cover up the problem takes short routes that do not allow the executive to understand the poor performance of the organization as a future threat. An overconfident manager does not consider the flaws and search for gray areas to manage earnings that led them to fraudulent behavior (Wharton, 2008).
If the case of Satyam is considered, then ...

Cases of fraud usually take place in both huge firms as well as small firms, and in this case, we will focus on Mamtek, which was a small firm. There are various reasons that usually led to cases of fraud in the various firms. Most of the fraud cases usually involve manipulating the various stakeholders for personal gain. Such decisions to commit fraud are usually for personal gains or to achieve performance within short durations rather than following the right procedures which would bring positive results in the long run. Mamtek was a Hong Kong based manufacturing firm that ...

Small businesses are more vulnerable to the commission of fraud than any other type of business. This calls for the need for any small business owner to understand and implement control measures that reduce the possibility of the perpetration of fraud. In order to lessen or even reduce the opportunity and the motivation to commit fraud, a strong internal control should be implemented after due consideration.
1. The first concerns relating to the possible commission of fraud is the fact that Mr. Franklin planned to left the handling of cash to that of the husband and wife. While there is ...

Company and situation

According to Biegelman and Bartow (2012), WorldCom Group began in 1983 following the breakup of AT&T. It began as Long Distance Discount Services (LDDS) offering telecommunication services to local retail and commercial customers in the Southern States where the two major telecommunication companies – Sprint and MCI had little presence. The company grew by acquiring other companies and in 1993 it was declared the fourth largest long distance carrier in the US (Biegelman & Bartow, 2012). It was officially renamed WorldCom in 1995 and continued a period of great acquisitions of more than 60 companies. However, between 1999 and 2002, the ...

Introduction

With the phenomenal growth of the Internet witnessed today, the greatest concern for the modern user is the security of their private data. Computers all over the world have interconnected to form a global network of personal, institutional, business, and corporate systems sharing massive amounts of data. The Internet has provided a platform for sharing personal, financial, medical, and many other forms of very important private data.
The users transmit this data from one computer to the other through the public telecommunication links and systems such as telecommunications. This is where serious danger in terms of data theft, exposure of ...

CONTENTS
I. Introduction 3
II. The Real Reasons of GSK Corruption Controversy 5
(a) Corruption is intrinsic to the elite Chinese business circles 5
(b) The mechanisms of Internal Audit were Not Adequate 7
III. The Response of GSK to the Allegations of Corruption 8
IV. The Nature of GSK Alleged Guilt 8
V. Avoiding the Mistakes of GSK China 9
VI. Lessons Learned 10

References 12

Introduction
Doing business in China has never been an easy task. The country has extremely entangled legal framework, intense competition between the domestic and international goods producers, not to mention that this communist country ...

1. Introduction
The Enron collapse, occurred in October 2001, consequently caused the bankruptcy of the whole Enron Corporation, the world’s leading energy, commodities and services company, as well as the dissolution of Arthur Andersen, which was one of the top five largest audit and accountancy firms in the world. Noteworthy it was not only the largest bankruptcy proceeding in American history at that time, but also the most serious audit failure, so that one says, “Enron is fraud and fraud is Enron”. The rise of Enron was almost as fast as its failure. Actually, it was an ...

Immigration Enforcement

Immigration Enforcement

Arguably, enforcement of immigration regulations and laws has and remains to be an overwhelming task in the context of the United States. This culminates from various factors that have and continue to jeopardize immigration enforcement. One of the primary issues that jeopardize immigration enforcement is the skewed immigration enforcement on the U.S. borders rather than in the whole United States context. Precisely, immigration enforcement has often been focused on the borders at the expense of the interior contexts of the United States. This is evident by more resources in terms of hours and staff that are allotted ...

Introduction

For an action to be tried under the false claim act, it must have some form of intents. In most cases, honest billing mistakes are not considered as fraud under the false claim act. For a healthcare provider to receive reimbursement, a physician must authorize all the services provided. It is imperative that the provider administers healthcare to the patient in the presence of an authorized physician. Any action outside the provisions of this can be tried in the court of law for payment under mistake fact, the false claim including fraud (Krause, 2015).

Issue

The eminent issue presented in ...

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Research Findings. The phenomenal rise and downfall of WorldCom will go down in history as one of the most turbulent times witnessed in corporate America. The issues related to WorldCom, brought to light many ethical dilemmas, which professionals in the Accounting and Internal Audit functions face, in their working life. The internal auditing function is an activity which helps an organization, by improving its operations and achieves that by implementing systematic processes and a disciplined approach to risk management, control and governance. ...

Certain theories explain the causes, nature, and extent of crime; for example, the theory of rational choice explains that individuals commit crime to fulfill their pleasures (Reynald, 2011, p. 23). According to this theory, individuals choose to do wrong if it results to rewards and fun rather than pain. The theory of trait argues that individuals are born with certain characteristics that make them engage in criminal activities. The social structure hypothesis argues that the surrounding influences the behavior of people. According to this theory, a person becomes a criminal if he or she lives with criminals (Walker, 2011, p.59). The ...

Introduction

TSU has managed to build a business name in the industry in the past few years and has managed to maintain the name and increase the turnover due to the collective duty of each employee in the workplace. Hence, the success of the firm relies on the activities and actions of the employees as well as how they handle their duties and responsibility and ability to work together as a team. Despite the success of the firm, there exist potential areas that the employees can work together and steal from their employers. These are the areas that fraud could ...

1.0 Project introduction and scenario
1.1 Introduction
In the recent times, ethical issues have dominated the debates and discussions in the considerable number of disciplines such as technology, business and engineering. On a wider note, the engineering field has received important recognition among other disciplines based on the fact that most actions carried by the practitioners are often challenging and therefore need bold decision-making. The moral reasoning is among the significant challenges in engineering as it involves the decisions to decide where to draw the line between permissible and impermissible actions. The case in this project includes the provision ...

Business with online customers and intellectual properties are using cyber forensic investigators to deal with electronic crimes and employee’s wrongdoing. PayPal scam is one of the cyber crimes that required the knowledge of forensic scientists. Database and Internet investigators played a tremendous role in discovering credit card thieves. PayPal merchants reported being redirected to mock PayPal site. Forensic investigators discovered that the PayPal accounts were opened using the same IP address. The team used Sam Spade, trace route, and freeware network discovery to investigate the matter. Based on the investigation, there is evidence that could be used in ...

Enron Corporation, a company founded in 1985 and grew rapidly, gained wide media coverage as it hit a share price of $US90.75 in 2000. The company spread its business to various sectors over its short course of growth. The growth was attributed to its former CEOs Kenneth Lay and Jaffrey Skilling. However, the real picture was different, for Skilling and his team through their unethical accounting practices had been cheating Enron’s investors. They kept the firm’s huge debt hidden with intent to maintain the reputation of the company. Skilling and his colleagues verbally attacked the industry analysts ...

If Lee had not been seen taking employees out in a limousine, how else could she have been caught?

If Lee had not been seen taking employees out in a limousine, she would have been caught by the audit of balances. Verification of claims through external sources could easily lead to the detection of fraud in this case. Furthermore, mailing addresses of three doctors were same which could have created the suspicion for the auditor. The investigation of these mailing addresses would lead to Martha’s husband's address from where she could have easily be caught after further investigations.
The auditor should investigate the details of doctors to whom the claims were paid by the company. It could ...

Business

Qstn 1: What Political factors explain Indonesia’s poor economic performance? What economic factors? Are these two related?
Indonesia which is the fourth largest country in the world is arguably among the worst economies of the century. President Suharto’s three decade dictatorial regime could be held responsible for the struggling current economic status of the country. Despite his exit from power in 1997, the country has not been able to recover from the mess left by the past dictator. The countries currency has lost more than 70% of its value (Wahyuni & Ng 2012). In addition, most financial ...

Fundamental of occupational safety

Safety and occupational health professionals are committed to improve the safety and health conditions at workplaces and they do not carry out managerial functions. Safety and occupational health professionals have the power to identify the hazards at the workplace and the power is exercised by carrying out inspections and they should be taken once per month. The safety and occupational health professionals are entitled to the information that regards materials, processes and equipment that are hazardous. Safety and health professionals have the right to be consulted before any testing is undertaken and they should be present at the start ...

It is clear all of the contracted workers associated with the case study all completed their orientation training. At the same time, these new employees were tasked with the job of isolating the acid feed steam for the Claus unit, which they failed to do. This paper will discuss the hazards present, the steps the incident command must conduct, explain changes to plan if polymerization occurs, and explains changes to plan based on the result of the post incident critique.
First of all, it is clear continuous training is essential to the refreshment of knowledge in order to avoid ...

There were several main red flags that were ignored or handled leniently by E&Y auditors in the audit of Health South. The most important were materiality in ledgers of fixed assets that were adjusted by including false entries and fictitious assets that did not appear in real. Another red flag related to the reality was noticed and ignored by the auditors that company’s officials were interested in increasing the share price of HealthSouth in the stock market anyhow. There should have been awareness of the fact that was avoided by auditors was an unusual increase in the net ...

This paper will present an analysis of Martin Luther King’s “I have a Dream speech.” The analysis will focus on the five key elements of the five elements of dramatistic pentad. These are act, agency, agent, scene, and purpose.

Act:

The “I have a dream” speech was a speech that sought to fight for civil rights liberties and freedoms for oppressed Americans. Black Americans had suffered discrimination for centuries in the country. The speech began with a history of the suffering of the black people in America. It also gave an excellent portrayal of the struggles the black people ...

Pros of Ethiopia As An Investment Opportunity

The Ethiopian economy is essentially centered on agriculture, which actually account for more than 85% of Ethiopia’s total employment and 46% of its GDP. Similarly, the country has shown an impressive economic growth from the past few years. Ethiopia is one of the largest landlocked countries in sub-Saharan Africa and it is increasingly becoming a central point for the foreign investors seeking forthcoming investment opportunities in that particular region. According to IMF, Ethiopia is one of the firmest growing economies with approximately an average growth rate of 8.2%. The economy brightly expected to grow further. It grew 9.6% ...

Company and Situation

According to Cadieux (2010) the worst recession since the 1930s started at the end of 2007 and was at its peak by the fall of 2008. Several businesses were shattered are some were facing serious economic challenges because of the financial crisis. Government offered various bailed out packages to save financial institutions from huge loss. The packages were offered by providing loans, equity, and guarantees. Goldman Sachs was one of the companies that suffered a great loss. Goldman Sachs is an American financial institution that provides financial services to its clients globally. Goldman Sachs took part in cheap credit ...

The Table

Cover page.
Abstract
History
Contradictions
Opinion
Policy Recommendation
References
Abstract
Corruption is a social, political, and economic vice that causes economic problems due to mismanagement of public resources (Girling, 2002, p.81). Corruption in Venezuela rates among the highest standards in the world due to its prevalence in the society. The country ranks among the top 20 most corrupt nations in the world; it is position eight in the ranking. Seventy-five percent of the Venezuelans believe that corruption is widespread in the government hence difficult to eliminate. Protests witnessed in 2014 cited corruption as the main reason for their discontentment ...

Analysis of Case Study 1

Possibilities and addressing areas of concern
The employer is responsible for maintaining a proper Occupational Health and Safety at the workplace. According to the Occupational Health and Safety Act 2004, the employers must maintain an appropriate environment for the organization and recognize the physical as well as psychological health impacts of the workplace on the employees (Gibson, 2014). In this case, Joe Peterson worked in an atmosphere that was not familiar for a aged person. He used to carry a large number of items from up the stairs that made him feel ill in the workplace. The area in ...

It was not very long after we had found computers as a usable technology in our lives that we found ourselves under attack from the newly found digital crimes. They started out simple, but as they progressed, the computer crimes started becoming more and more damaging not only to the people but also for a number of corporations worldwide. Today, these computer crimes have put at risk our financial information like credit card and social security number and are also bringing down giant corporations just by using their sensitive information against them.
There are many types of cyber crimes ...

Corporate Social Responsibilities and Ethics

The concept of (CSRs) means that companies, organizations and/or societies have both societal and ethical responsibilities stretching beyond their existing economic responsibilities (Tuan, 2012). It requires these organizations to elaborate how they understand their responsibilities in efforts to including other stakeholders like customers, employees, local communities, customers, state governments, suppliers, international organizations among others. CSR stresses the need for organizations to behave like good corporate members of the society or citizens, by not only complying with laws and policies but also conducting their activities in ways protect the environment and other resources. Ethics may be seen as the fundamental ...

Introduction

Digital or cybercrimes are defined as crimes where a computer or network is: a target of the crime; is a tool used to commit a crime or an incidental aspect of the crime. Although digital crimes are a relatively new entrant onto the criminal landscape, according to Department of Justice’s Criminal Division, they are quickly becoming one of the most significant developments in crime with an estimated cost to the global economy of US$ 500 billion per year (Egan, 2013). As the definition makes clear, digital crimes can include a wide range of activities and victims. However, according to a number of experts in cybersecurity, ...

Did Qatar bribe FIFA officials to obtain the 2022 World Cup bid?
The process of bidding for the 2022 and the 2018 FIFA world cup involved making a decision on the venues for the staging of the 2022 and 2018 World Cup events. The bidding process commenced on March year 2009. A total of eleven bids from thirteen nations was received by the executive committee of FIFA. One of the bids was rejected and another one withdrawn. During the bidding process, bids for the 2022 came from Qatar, Japan, United States, South Korea and Australia. The process of bidding ...

Enron

Executive Summary
Introduction
Accounting and Finance are two important things from the standpoint of an organization and both of these concepts found exceptionally wonderful as far as operating an organization is concerned (Warren, p.119). Organizations usually have number of departments under one roof and every department is held responsible to play its part for the economic prosperity of the company. Accounting is the name of recording and interpreting the day to day transaction of an organization, while finance is the name of utilizing the funds of a company at an appropriate place from where the likelihood of earning ...

Re:

Introduction

In 2000, the Chief Executive Officer (CEO) of Qwest, Joseph Nacchio, was charged civil and criminal liabilities after it has been found that he violated the provisions of GAAP against fraud and insider trading. He was sentenced to six years in prison in 2007 and was slapped with a $19 Million fine and a forfeiture order for proven illegal stock sales transactions worth $52 Million. In this memo, the author discusses the different aspects of Qwest’s case, emphasizing the role of GAAP and the PCAOB.

The Generally Accepted Accounting Principles (GAAP) refers to a standard framework of ...

Q1a. From the information contained in the case study above, conduct an analysis of Tesco’s external environment using the STEEPLE model. Your analysis should cover and identify each of the factors as they relate to the case study. (16 marks)

The external environment of a business can be evaluated using a STEEPLE model, which incorporates seven external factors; sociological, technological, economic, environmental, political, legal and ethical (Block 1, Reading 5, p. 34). Here is a brief analysis of Tesco according to the STEEPLE model;

Sociological factors

The variety of business in the UK and across the world is going through ...

Background

Enron case study dwells upon one of the most known scandals in business ethics and financial world. Founded in 1985 as a result of the merger between Houston Natural Gas and Internorth, Enron Corporation starts trading natural gas commodities in 1989. Throughout the 90s,the company was considered one of the most innovative and attractive for investment companies in the country. Renown for its unique business model and trading businesses, the company benefitted from a positive image, shareholder trust and external financing (Li, 2010). With a number of changes in leadership from Jeffrey Skilling to Kenneth Lay, who occupied ...

Circle Centre Development Company v. Y/G Indiana, L.P., 762 N.E.2d 176 (Ind. Ct. App. 2002)

Circle Centre (P) and Y/G (D) entered a commercial lease agreement in October 1996. Circle Centre agreed to lease Y/G retail space in Circle Centre Mall. A provision in the signed lease agreement stated that the Y/G, as the tenant, did not rely upon any inducements or representations on Circle Centre’s part other than those contained expressly in the lease agreement. In January 2000, Circle Centre sued to recover $30,000 in unpaid rent against Y/G. Y/G filed a counterclaim, alleging that Circle ...

Compare and contrast two legal cases

Liebeck v. McDonald's Restaurants
The first fact, in this case, is that the coffee that was served at McDonalds had a temperature that was between 180 and 190 degrees Fahrenheit. For a long time, the company had known that they had been serving coffee that was twenty to thirty-degree hotter than the coffee that was served in other restaurants. In the previous ten years, the company had been sued over 700 times, but McDonalds had not taken the necessary steps to lower the temperature of the coffee that they served.
The second fact, in this case, was that the ...

Q1: Does Monsanto maintain an ethical culture that effectively responds to various stakeholders?

The definition of whether a company has an ethical culture is usually based on what they do, how they do it, and the structures put in place by the topmost leaders to ensure that all stakeholders are duly taken care of and excesses to them are cut.
In the first instance, the activities of Monsanto are inherently problematic and carry a high risk. This is because most people and most groups around the world have an issue with the creation of genetically modified seeds and plants. Many religious people have views against interbreeding of animals and plants and since ...