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Xerox Accounting Fraud, 2007.
An analysis of the accounting fraud committed by the Xerox Corporation, and the consequences of this fraud.
1,586 words (approx. 6.3 pages), 7 sources, MLA, $ 51.95
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Abstract
This paper discusses the accounting fraud committed by Xerox Corporation, which involved accounting irregularities in connivance with Xerox's auditing firm at that time, KPMG. The paper provides a background of Xerox Corporation and discusses the legal complaint filed against them in 2002. It describes the actions that were taken and the aftermath of the scandal.
From the Paper
"At present, Anne M. Mulcahy is the chairman of the board and chief executive officer of Xerox Corporation. She was appointed as the company's CEO on August 1, 2001, and five months later, was eventually given the chairmanship on January 1, 2002. Before reaching the top helm of the corporation, Mulcahy was Xerox's "president and chief operating officer from May 2000 through July 2001. Prior to that, she was president of Xerox's General Markets Operations, which created and sold products for reseller, dealer and retail channels. She began her Xerox career as a field sales representative in 1976 and assumed increasingly responsible sales and senior management positions. From 1992-1995, Mulcahy was vice president for human resources, responsible for compensation, benefits, human resource strategy, labor relations, management development and employee training. (About Xerox, 2007)" In the more than 30 years Mulcahy worked for Xerox, she handled several other positions such as "chief staff officer in 1997, corporate senior vice president in 1998, vice president and staff officer for Customer Operations, covering South America and Central America, Europe, Asia and Africa. (About Xerox, 2007)" She is a graduate of the Marymount College, New York and earned a Bachelor of Arts in English/Journalism."
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Xerox Fraud, 2002.
A look at the financial impetus of the Xerox corporate scandal.
2,061 words (approx. 8.2 pages), 15 sources, MLA, $ 65.95
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Abstract
When it was learned that Xerox had overstated its revenues, it was just another in a long line of financial shocks that have rocked corporate America. What caused this fraud and what was the impact to the shareholders? This paper focuses on these questions and more regarding the Xerox scandal.
From the Paper
"Xerox was formed in 1906 and had grown to an international corporation with over eighty thousand employees. Obviously this organization did not start out by defrauding people; it was a highly respected and well-known organization. Xerox became best known for their photo-copying machines that had taken over the market. Their machines and technology in the photo-copying department are so well known that the word 'Xerox' has become universally to be known as a photocopy (Pratley and Treanor 2002)."
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The Xerox Corporation (Xerox), 2007.
This paper is a value chain and financial analysis of the Xerox Corporation (Xerox).
960 words (approx. 3.8 pages), 6 sources, MLA, $ 34.95
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Abstract
This paper explains that a value chains analysis provides a component-level understanding with a holistic grasp of the marketplace within which the company operates. The author points out that Xerox clearly applied these principles in redefining its business model and redrawing its corporate strategies. The paper concludes that, being a technology company heavily dependent on a value chain centered on intangible services, Xerox is susceptible to a certain amount of instability in the global market. The author stresses that its financial health should allow Xerox to weather any periodic downturn. The paper includes a chart and tables.
Table of Contents
Overview
The Value Chain
Strategy Development
Financial Analysis
Overview
From the Paper
"Xerox found that the cash cow of the document industry was black and white printing and it acted accordingly by tasking its sales force to actively represent its printing services. Additionally, because services figured so prominently in its value chain, Xerox committed the resources to developing a service market around developing digital technology termed its "New Business of Printing" and concentrating more heavily in document services. These strategies are what researchers say come directly from the use and applicability of value chains."
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Insurance Fraud, 2002.
An in-depth insight into insurance fraud, what it is, and what measures can be taken to prevent it.
10,871 words (approx. 43.5 pages), 18 sources, MLA, $ 215.95
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Abstract
This paper attempts to identify the different types of insurance fraud perpetrated today and to evaluate their effect on the insurance industry and society at large. After tax evasion, insurance fraud is considered the highest-ranked among white-collar crimes. It provides a history of insurance, examines in detail the main types of insurance frauds currently around and discusses the measures that can be taken to help prevent and reduce the number of fraudulent claims.
Table of contents:
Abstract
Introduction
History of Insurance
Insurance Fraud
How Insurance Frauds Affect Society
Classification of Fraud by Insurance Companies
Insurance Fraud Status as a Crime
Types of Insurance Frauds
Staged Auto Accidents
Arson-for-Profit
Health Insurance Fraud by Individuals and Corporations
Workers' Compensation Fraud
Property/ Casualty Insurance Fraud
Agent Fraud
Fake and Real Deaths to Collect Life Insurance Money
Identity Fraud
Efforts to Reduce Insurance Fraud
Conclusion
From the Paper
"One of the most famous insurance providers in the world today, Lloyd's of London came into existence in 1688. Edward Lloyd owned a coffeehouse in London where merchants and bankers evaluated the risk of the maritime operations of seafaring vessels used for trading among the various British colonies and those used for prospecting new lands. Financiers for the expensive endeavors and trips to far off lands invested huge amounts of money in the hope that the voyages would be successful. Ship captains required money for supplies and goods, and would offer to embark on these dangerous trips with the help of these financiers?a potentially, mutually beneficial endeavor."
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The Xerox Debacle, 2006.
An overview of the corporate fraud scam involving Xerox Corp.
2,290 words (approx. 9.2 pages), 4 sources, MLA, $ 70.95
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Abstract
From 1997 to 2000, Xerox used a host of concealed accounting practices to meet or outstrip Wall Street expectations and conceal its true operating performance from investors. This paper examines the history of the Xerox debacle and the outcome, including new lessons learned regarding company management and the role of the SEC.
From the Paper
"Xerox dismissed KPMG and retained Pricewaterhouse Coopers to conduct their accounting procedures. Although the SEC allegations contain various accounting practices, the most concrete involve two. One is the recollection of revenue from multiyear leases on office equipment. Xerox crudely recorded revenue that was not yet received in order to extend and deform operating results. The second practice was setting aside 'cookie jar' reserves to harbor restructuring costs, and then incorrectly adding them back later to earnings."
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AIG Insurance Accounting Frauds, 2005.
This paper discusses frauds involving AIG and principles of accounting relating to the prevention of these frauds.
1,455 words (approx. 5.8 pages), 6 sources, MLA, $ 48.95
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Abstract
This paper explains that the American International Group--AIG, the world's largest insurer--was reported to have arranged deals to manipulate financial figure in its own records and those of General Re, a reinsurance company, resulting in financial fraud during the autumn of 2000. The author points out that AIG also was involved in another accounting fraud with Brightpoint Inc., which was reported by the Securities and Exchange Commission in 2003; AIG worked closely with the Brightpoint people to tailor an alleged insurance policy that let Brightpoint overstate its earnings by an amazing 61% in a cash circulation deal from Brightpoint to AIG and again back to Brightpoint. The paper defines receivables are monies due from the customers, which are tallied by invoices and happen due to operating cycle's process of selling inventory or services on terms that permit delivery before cash is collected.
Table of Contents
The General Re Fraud
The Brightpoint Fraud
Cash & Accrual Basis of Accounting
Receivables and Inventory
Fixed and Intangible Assets
Liability & Stockholders Equity
From the Paper
"Under the cash method of accounting, the books are maintained on the actual cash flow. Income is recorded on its receipt and expenses enter the books on their actual payment. Whereas majority of the businesses use the accrual basis, the most correct method for the company depends on the sales volume, credit policy of the company and business structure. In case of the accrual method, income & expenses are recorded while they occur, notwithstanding whether there has been exchange of cash and an example of this is sale on credit. Accrual method is appropriate when the annual sales are more than $5 million and the business is a corporate organization. Besides, it is suggested that while selling on credit, matching of income and expenses during a given period must be done."
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Xerox Company: Financial Ratio Analysis, 2005.
An overview of the Xerox company focus, finances, and strategies.
2,351 words (approx. 9.4 pages), 3 sources, MLA, $ 72.95
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Abstract
This paper begins with a description of what services and products Xerox offers and a look at Xerox's worldwide business presence. The paper then discusses the marketing strategy of Xerox, Xerox stock ,and Xerox's financial health. Finally, the paper takes a brief look at Xerox's management, strategic plans, and initiatives.
From the Paper
"Xerox Corporation is company in the field of technology and services, which is currently developing, manufacturing, marketing, and financing a whole range of document equipment, software, integrated solutions and services. They have a global network, with branches in more than 130 countries all over the world. In America, its products are distributed through divisions, subsidiaries and third-party distributors. In the rest of the world (Europe, Africa, Asia), Xerox is represented by Xerox Limited and by other companies wherewith Xerox has concluded distribution agreements. Xerox?s customer pool is very diverse, both from a geographical and a demographical point of view, and ranges from low-end users, such as small and middle market businesses to high-end, high quality users like graphic arts shops, governmental entities, educational institutions and large corporate accounts."
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Mortgage Fraud, 2004.
This paper discusses the history and problems of mortgage fraud.
8,060 words (approx. 32.2 pages), 16 sources, APA, $ 173.95
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Abstract
This paper explains that many independent studies have shown that the majority of consumers targeted by predatory lenders are minorities or in a lower income bracket: Fraud seems to target those who can least afford to survive it. The author points out perhaps it is because fraud is so pandemic in the industry today that less is being done to combat fraud than one might expect. Mortgage companies frequently fail to report fraud, and when they do, it is frequently put on hold by law enforcement. The paper states that change will only come when systematic changes are made to the structure of the system. Dishonest lending and borrowing have always plagued humankind, so it would be overly optimistic to hope for a solution. Extensive end-note information.
Table of Contents
The Dead Pledge Heritage: Are Mortgages Inherently Susceptible to Dishonesty?
The New Big Deal: Modern Mortgages and the Road to Fraud
How Loans Are Open for Fraud
How Fraud Works In the Real (Financial) World
Regulations: Attempts, Concerns, and Failures
Conclusions
From the Paper
"Not incidentally, though, this government move was at least partly in response to a significant issue in America with predatory lending. Prior to the founding of the FHA, the American mortgage industry had already gotten its start. ?And, it wasn't banks ...it was insurance companies. These daring insurance companies did it, not in the interest of making money through fees and interest charges, but in the hopes of gaining ownership of properties if the borrower failed to make the payments on it.... the repayment schedule was spread over three to five years and ended with a balloon payment. ? It was the FHA that started the amortization of loans so that indebtedness could decrease over time. They also instituted practices of lending based on ability to repay the loan, judging the quality of the property involved before making the loan, and expanded loan terms so that they could be feasibly repaid (instituting seven, fifteen, and thirty year loans). The government pushed extensively in this years to create fair, non-predatory lending situations."
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Insurance Fraud, 2002.
Examines the pervasiveness of this type of crime in contemporary society.
1,689 words (approx. 6.8 pages), 6 sources, MLA, $ 54.95
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Abstract
After tax evasion, insurance fraud is considered the highest-ranked among white-collar crimes. After providing a brief history of the concept of insurance as a for-profit business, this paper explores the issue of insurance fraud. It discusses the three major categories of fraud in the insurance industry based on what side the perpetrator of the fraud is: claims fraud, applications fraud and fraud committed by employees in the insurance industry. The paper examines agencies that fight insurance fraud and discusses other means that society can rid itself of this type of crime.
From the Paper
"Insurers classify fraud as either ?hard? fraud or ?soft? fraud. When an accident, injury, theft, arson or any other loss is deliberately staged either individually or as a group to collect money from insurance companies the crime is classified as a hard fraud. It has been increasingly observed in recent times that organized crime groups and regional gangs are getting involved with more large-scale and intricate methods of swindling the insurance company using hard fraud methods. Innocent bystanders or individuals who are desperate for money may get involved with these staged accidents that may endanger their life and property."
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Automotive Fraud, 2007.
This paper explores the presence and impact of fraud within the automobile industry.
1,656 words (approx. 6.6 pages), 9 sources, MLA, $ 53.95
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Abstract
This paper discusses common areas of fraud found within the automotive industry, examining both the new and used car sectors. The paper looks at how certain types of fraud are discovered and how these frauds can be prevented. The paper also examines the economic impact of fraud within the automotive industry. The paper shows that while fraud within the automotive industry is rampant and dangerous, well-informed consumers can avoid fraudulent purchases and help protect themselves.
From the Paper
"According to legal statistics, the most common form of fraud within the new vehicle industry is that of defective design (OLM, 18). Thousands of individuals are injured or killed each year due to known defects in automobile design, including such issues as faulty airbags, door latches, brakes, fuel tanks, and rollover tendencies (OLM, 19). Some estimates show the National Highway Traffic Safety Administration issues over 30 million vehicle recalls each year, and these recalls are a small portion of the faulty design flaws realized (McDonald, 175). Since manufactures often weigh the costs of such recalls with the probability of damages awarded in a lawsuit resulting from injury due to the defect, only those defaults which may result in extremely high legal costs are completed (McDonald, 179)."
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Health Insurance Fraud, 2004.
A look at the growing problem of medicare and medicaid insurance fraud and what can be done to prevent it.
7,463 words (approx. 29.9 pages), 21 sources, MLA, $ 164.95
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Abstract
This paper critically evaluates the statutes purposely passed to tackle medicare and medicaid insurance fraud. It also examines the fundamentals, penalties, defenses, and safe harbor provisions for each and every statute, as well as concludes with a discussion of accessible legal safe harbor provisions. It discusses the wide-ranging federal statutes employed to impeach health care fraud, together with the False Claims, False Statements, and the Mail and Wire Fraud Acts, and explains the basics of the offenses, accessible defenses, and penalties valid under each statute. It also gives an indication of federal and state government agencies' pains to examine and take legal action against health care fraud.
Outline
Introduction
Statutes and Provisions Specifically Enacted to Address Medicare and Medicaid Fraud
Medicaid False Claims Statute
Penalties
Medicaid Anti-Kickback Statute
Sale of Physician Practices, Practitioner Recruitment and Obstetrical Malpractice Insurance Subsidies
Contracts for Space, Equipment, Personal Services and Employment
Advertisements and Promotions
Referral Services
Relationships Between Providers
Arrangements Between Providers and Health Plans
Relationships Between Providers and Suppliers
Prosecuting Health Care Fraud With General Federal Statutes
False Claims Act
False Statements
Mail and Wire Fraud
Conclusion
From the Paper
"An added safe harbor permits health plans with accords with CMS or a state health care program to give care for beneficiaries to augment coverage, decrease cost sharing amounts, or decrease premium amounts for enrollees under particular conditions. If the proposal is a competitive medical plan, health maintenance organization plan, prepaid health plan or any other plan with a contract with CMS or a state health care program, it has got to offer identical augmented coverage or reduced cost-sharing or payments to all Medicare or state health program enrollees unless CMS or the state endorses otherwise."
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Xerox Corporation, 2005.
This paper discusses the history and methods of Xerox Corporation's mergers and acquisition.
2,310 words (approx. 9.2 pages), 7 sources, MLA, $ 71.95
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Abstract
This paper explains that Xerox Corporation, incorporated in 1906 as Haloid Co., Haloid Xerox Inc. in 1958 and renamed again to its present name in 1961, has experienced numerous acquisitions during the last century. The author points out that because of Xerox's acquisition and spin-off policy, the company has devised several strategies for managing the numerous spin-off firms, which independently commercialized many of its technologies. The paper defines goodwill impairment as the difference between the book value of goodwill and the implied fair value of goodwill. It explains that unlike other assets, goodwill cannot be defined as a stand-alone asset and must be valued as a residual of all other assets; therefore, the estimation of goodwill impairment is not as simple as measuring the difference between market capitalization and net book value. Extensive Accounting Data in Appendix.
Table of Contents
Introduction
The Cost Method and the Equity Method
The Pooling-Of-Interests Method and the Purchase Method
Percentage of Ownership of Recently Acquired Subsidiary and Other Subsidiaries
Unconsolidated Subsidiaries
Non-controlling Interest on the Consolidated Balance Sheet and Income Statement
Goodwill Impairment
Summary and Conclusion
From the Paper
"The most important operations in the last 20 years were the acquisition of Kurzweil Computer Products Inc. (1980, about 85% of the shares), the sell of the defense and aerospace operations of Xerox Electro-Optical Systems to Loral Corp. for approximately $36,000,000, the acquisition by Xerox Financial Services, Inc., a subsidiary of Xerox Co., acquired Furman Selz Holding Corp. for approx. $110,000,000. The most recent operation is the sale of the company's ownership interest in ScanSoft, Inc. for approximately $80,000,000 in cash, in April 2004."
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Consideration of Fraud in a Financial Statement Audit - Summary of the ASB Exposure Draft, 2002.
This paper summarizes the new ASB exposure draft on consideration of fraud in a financial statement audit.
2,060 words (approx. 8.2 pages), 3 sources, MLA, $ 64.95
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Abstract
This paper summarizes the ASB exposure draft on Consideration of Fraud in a Financial Statement Audit. This draft, which supercedes SAS 82, introduces new concepts and requirements to assist the auditor in detecting fraud. It discusses the definition of fraud, identifying risk of fraud, and general assessment of fraud risk. The summary outlines the appropriate response to each fraud risk identified through the analytical process, including evaluation of implications.
From the Paper
"As the need for new standards and ways to look for this fraud got stronger, the AICPA auditing standards board (ASB) responded by issuing an exposure draft on Consideration of Fraud in a Financial Statement Audit. This exposure draft would supersede SAS 82, which is the current standard for detecting fraud in an audit. The exposure draft was not meant to change any of the auditor's responsibilities in a financial statement audit but rather introduces new concepts and requirements to assist the auditor in detecting fraud. Some of the major areas that the exposure draft discusses are the description and characteristics of fraud, discussion of fraud and professional skepticism, a wider range of inquiries, identifying and assessing risks that can result in fraud, evaluating programs and controls and responding to the results of the assessment. "
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Health Insurance Fraud, 2002.
An examination of government efforts to curb Medicare and Medicaid insurance fraud.
7,463 words (approx. 29.9 pages), 21 sources, APA, $ 164.95
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Click here to show/hide summary
Abstract
This paper critically evaluates the statutes purposely passed to tackle Medicare and Medicaid insurance fraud. It evaluates the fundamentals, penalties, defenses, and safe harbor provisions for each and every statute, and concludes with a discussion of accessible legal safe harbor provisions. It discusses the wide-ranging federal statutes employed to impeach health care fraud, together with the False Claims, False Statements, and Mail and Wire Fraud Acts and explains the basics of the offenses, accessible defenses, and penalties valid under each statute. It also gives an indication of federal and state government agencies' pains to examine and take legal action against health care fraud.
Outline
Introduction
Statutes and Provisions Specifically Enacted to Address Medicare and Medicaid Fraud
Sale of Physician Practices, Practitioner Recruitment and Obstetrical Malpractice Insurance Subsidies
Contracts for Space, Equipment, Personal Services and Employment
Advertisements and Promotions
Referral Services
Relationships Between Providers
Arrangements Between Providers and Health Plans
Relationships Between Providers and Suppliers
Prosecuting Health Care Fraud with General Federal Statutes
Conclusion
From the Paper
"Individuals and organizations licensed by Department of Health and Human Services ("HHS") to accept imbursement under the Social Security Act may focus on Medicare and Medicaid fraud examinations (7). Persons, as well as organizations comprise nursing and rehabilitation centers, hospitals, Health Maintenance Organizations ("HMOs"), intermediate carriers for example private and public clinics, private insurance companies, durable medical equipment ("DME") providers, medical laboratories, physician practice groups, physicians, as well as other certified health care organizations (7)."
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The Auditor and Fraud, 1999.
Examines the role and responsibilities of the external auditor in detecting fraud. Discusses standards, definitions, costs and risks, causes and types of fraud, corporate disclosure and uses tables.
2,025 words (approx. 8.1 pages), 14 sources, $ 71.95
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From the Paper
"THE AUDITOR & FRAUD
Introduction
This research examines the role of the external auditor in the detection of fraud. The increasing prevalence of fraud, together with increasing criticism of the accounting profession for high-profile failures to detect such fraud, has led to the implementation of changes in the practice of auditing.
Background on the Issue
Generally Accepted Auditing Standards (GAAS) are developed and enforced by the American Institute of Certified Public Accountants (AICPA) for the public accounting profession. The Securities and Exchange Commission (SEC), however, also exercises responsibility with respect to the auditing of public companies, and conducts its own auditing enforcement activities. In recent years, the ..."
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