Abstract This paper discusses how The Securities Exchange Commission is charged with the overseeing of the stock exchange and that includes the investigations of alleged insider trading practices. It discusses how in recent years the SEC has evaluated and reformed many of its organizational behaviors for the purpose of trying to curb the much-publicized insider trading cases that it has had to handle. It examines some of these changes in its organizational behavior such as the even distribution of commissioners from the Democratic and Republican political parties to protect the SEC from being accused of being driven by partisan desires and changes in employee conditions.
From the Paper "The SC has over 3,000 staff members throughout the United States. They are charged with overseeing the activities and transactions of more than 14,000 companies. This included 700,000 representatives that are registered through the SEC and over 8,000 brokers or dealers of stock(Boodhoo, 2001). There are 30,000 investment portfolios that are also a part of what the commission must oversee and guide. The organizational behavior and culture of the SEC seems to drive staff members to other agencies or civilian companies according to many experts in the field. The low pay, high stress, overwork, and political ramifications often prove to be overwhelming."
From the Paper " It is the purpose of this research to describe the application of linear programming techniques to business management issues. In this introductory section, the essential concept of linear programming, and the general procedures involved in applying the concept are discussed. The following section describes the application of the concept to an accounting problem that serves as an example of a typical management application.
The Linear Programming Concept
Linear programming is a concept drawn from the field of operations research. It is an "analytical technique used for solving maximization and minimization problems."
The applications and effects of electronic data interchange, including outsourcing, object-oriented programming, networking, Windows and data security.
2,250 words (approx. 9 pages), 35 sources, 1994, $ 79.95
From the Paper "Changes Being Introduced Into The Accounting Profession By Technology In The 1990s
Introduction
What is described as a progressive surge of technological innovation is in the process of transforming the profession of accounting.. Unfortunately, many professional accountants have yet to recognize the significance of technical innovation to the profession.. Technological innovation, however, is one of the principal phenomena that will change the profession to a significant extent by the year 2000.. Those accountants who choose not to integrate technological innovation into their practices inevitably will be left by the wayside. This research examines some of the more significant changes that technological is either in the process of introducing or is expected to introduce into the..."
This paper discusses rxpert systems, computer programs that mimic the decision making processes of human experts' thinking, in accounting applications: Components, implementation and advantages.
1,125 words (approx. 4.5 pages), 5 sources, 1995, $ 39.95
From the Paper "Expert systems are computer programs that are designed to mimic the decision making processes that human experts typically follow. With the proliferation of personal computers in the workplace, and the innovations in software development, expert systems are now available for a wide range of applications, including medical, legal, and accounting. Within the accounting field, expert systems have been slow to gain acceptance, in part because of the reluctance of accountants to embrace computer technology, and in part because there is some question as to the reliability of expert systems. This research examines expert systems in the accounting field in general, and in the are of auditing in particular.
According to the American Institute of Certified Public Accountants, expert systems are computer programs that reflect the ... "
This paper discusses one of the key ethical issues that the accounting firm, Arthur Andersen, faced in the Enron case: A company cannot exist without clients.
Abstract The paper discusses that the Enron case was a no-win situation for Arthur Andersen. The paper points out that Arthur Andersen tried to distance themselves from the case in hope that Enron did not get caught, but Enron did get caught. The author feels that Arthur Andersen, despite client loyalty, would have managed the case better if they had severed relationships with Enron much sooner.
From the Paper "Arthur Andersen was in a tough client relations position. However, there are several points along the way where they could have perhaps at least saved their reputation. One point is when they continued to shred documents after they had been ordered by the courts to stop this activity. Had they at least obeyed that court order, then they may have been able to claim that they were not so deeply embroiled in the controversy and could have perhaps distanced themselves from it. This was the final straw as for as the public and the courts were concerned. Their actions in destroying the court order stood as clear evidence that they were both aware of and in support of the activities at Enron. This act enraged the public the most."
Abstract This paper discusses that, in the 21st Century, new technology, such as the computer, fax machines and the internet, have improved the business and accounting world in virtually every area ranging from communication, to data recording, to company billing. The author comments that the use of the computer has almost eliminated the job category of bookkeeper. The author discusses that, although these new technologies have great benefits, they are not without problems such as computer crashes.
From the Paper "The technological world has become an absolute necessity in accounting. One way technology has influenced accounting firms is in the realm of communication. Communication, vital to every business, plays a crucial role in the accounting process. Through the use of the fax machine, important documents can be sent via phone line from client to accountant or vice versa. For example, a business needs to have a sales journal covering the last quarter immediately because of a meeting the next day. The fax machine will allow the journal to get from the accountant to the client, a task that would have taken at least a day or two, within a few minutes."
Abstract This paper provides a detailed look at the profession of Forensic accounting. The writer outlines in this paper why it would appeal to some people and what specific skills are necessary to excel in this career. The author argues that the popularity of this field has increased lately in light of the financial scandals and frauds that have been emerging in large companies. The paper highlights how forensic accounting developed and what the main differences are between them and regular accountants.
From the Paper ""What kind of job is that?" I wondered to myself, as I sat in front of my Compaq Presario computer at home, researching possible career paths that have yet to be taken. I was logged onto the website echoices.com, when I noticed the job title "Forensic Accountant" on top of the list of occupations that fit my interests. I had taken Accounting classes in high school, received good grades in them and enjoyed the tasks that were involved with the class work".
Tags: profession, career, financial, scandals, fraud, companies, detailed, emerging, specific
Abstract Examines its use. Focuses on the internal control business model for a cash transaction operation. Compares and contrasts the generic internal control business model and the internal controls applied to the handling of cash in an operation of the New York City Police Department (NYPD). Describes internal controls in an accounting context.
From the Paper "INTERNAL CONTROLS IN ACCOUNTING
Introduction
This research examines the use of internal controls in accounting. To elaborate on this examination, the research covers in somewhat greater depth the internal control business model for a cash transactions operation. A discussion of the similarities and differences between the generic internal control business model for a cash transactions operation and the internal controls applied to the handling of cash in an operation of the New York City Police Department (NYPD) further extends the illustration of the application of internal controls in an accounting context.
Internal Controls in Accounting
Internal controls in an accounting context refer to the system of ..."
The paper looks at the scandal surrounding the bankruptcy of leading energy company Enron and the ensuing allegations of fraudulent corporate practices.
Abstract The paper traces the rise and fall of Enron from its humble beginnings as an energy company to becoming the U.S.'s largest electricity trader. The paper analyzes key points relevant to the unravelling of the company and examines how Enron's collapse not only destroyed the lives of thousands of its employees, it brought down one of the world's top accounting firms, Arthur Andersen.
From the Paper "Prosecutors are questioning why top CEO's were quietly unloading their company stock while at the same time urging employees to buy more. The government's widening prosecution of Enron is reaching down to the lower levels of management, hoping that without company-paid legal counsel, the pressure to cooperate with the government will increase."
Abstract This paper examines the profession of accounting and that of financial management and the different issues both address, as shown primarily by the book "Fundamentals of Financial Management" by Eugene F. Brigham.
Abstract This paper will discuss the current problems that are part of an ethical debate over accounting firms in America. By assessing why these problems, and why they are unethical, we can see examples of why poor ethics does not work in the accounting problems of today.
Abstract This paper explains the Sarbanes-Oxley Act of 2002, which requires all companies to file periodic reports with the SEC, changes the responsibilities of directors and offices, and modifies the reporting and corporate government obligations of SEC-reporting companies. The author points out that the business objective of the Sarbanes-Oxley Act is to restore investor confidence in companies and markets. The paper concludes that, in the long run, the Sarbanes-Oxley Act will do little to increase the integrity of certified financial results and may only lead to an upswing in litigation.
From the Paper "The economic fall out of corporate fraud has been devastating (Taylor, 2003). Seven of the twelve largest bankruptcies in U.S. history are now working their way through the courts. A slew of over-hyped Internet companies have gone out of business. On December 2, 2001, Enron filed for what was then the largest bankruptcy in US history at $63 billion. This was followed by bankruptcy filings from Adelphia Communications in June ($24 billion) and by Worldcom ($104 billion) in July, the largest bankruptcy in history. In all these cases, the companies had simply lied about their earnings. And, the stock market has been decimated. The bear market has lasted longer than that of the Great Depression. At its low, the S&P 500 was down forty-nine percent from its high in 2000, and NASDAQ was down seventy-eight percent."
Abstract This paper explains what money is and how it works. The paper begins by providing a history of money, from the original barter systems to the cash currency we know and use today. The paper then shows the different uses for money in today's economy and how money has become a complex system of acquisition, investment, and status.
From the Paper "The uses of money is of course as versatile as money itself. The most common use is of course as unit of exchange. Money is used to buy every items such as clothing and food. As a unit of account, money is used to measure the value of goods. Using its monetary value, the value of the good is determined compared to the value of all other goods. This is the same system by which the value of money itself in terms of global currency is determined. Finally, money as store of value means to determine the ability of a good to maintain its value over time."
Abstract This paper explains that, in inflationary times, LIFO users will report higher cost of goods sold and, hence, less taxable income than if they used FIFO. The author points out that the system of LIFO has the potential to encourage merchandise to pile up in warehouses, and most countries outside the U.S. largely reject it as an option for public companies. The paper relates that Wal-Mart and Target, both year-round, discount, retail operations not subject to seasonable flux or to the dangers of perishable goods, use the LIFO accounting methodology.
Table of Contents
The Impact of the Financial Statements
The Impact on the Firm's Current Ratio
The Method Used by the Company's Major Competitor or the Industry as a Whole
Does LIFO Make Sense for this Company?
From the Paper "When calculating an inventory under the FIFO method, the inventoried goods sold are the oldest produced or purchased by the company. LIFO uses the opposite method. Instead, the inventoried goods sold are the goods most recently produced or purchased. LIFO suggests that companies always want to sell their newest inventory, even if they still have old stock sitting around. Lofton points out that ?LIFO's a very American answer to the problem of inventory valuation,? because in times of rising prices, it can lower a firm's taxes through generating figures of lower taxable income."
Abstract Examines the firm's global reach and scale. Cites its worldwide business locations. Presents a history of "firsts" of this high tech company and discusses the 2002 fraud situation in the WorldCom case.
From the Paper "The case to be examined herein is that of WorldCom, the nation's second largest long-distance telephone company. WorldCom Group (NASDAQ: WCOM) was a high-growth data, Internet services operating unit of WorldCom, Inc.; World Com is..."
