...Case 4.5 – Wiley Jackson, Accounting Major By Ernst & Young 1. Place yourself in Wiley’s position. How would you respond to the “Arrests and Convictions” question? Before responding, identify the decision alternatives available to you. There are a few decisions alternatives available: * Report it * Do not report it * Call an attorney for advice * Call OMP and try to explain the incident to have them understand. * Ask Sally for help or advice * Don’t fill it out and give up the job If I were in Wiley’s position I would exhaust several of the list above. First, I would contact Sally to get her opinion and see if she’d be willing discuss it with OMP. I would then contact OMP and explain the incident. If Sally was willing to discuss it with OMP I would suggest they talk to her to see if she could support me. Finally, I would report it and hope OMP appreciates my honesty and decides to hire me anyway. 2. Suppose that Wiley does not disclose the citation he received. A few weeks after going to work for his new employer, Wiley is called into the OMP’s office. The OMP tells Wiley that he recently learned of the minor-in-possession citation that Wiley had been given. The OMP then hands Wiley a copy of the Arrest and Convictions form that he completed after receiving the job offer from the firm. How should the OMP deal with this matter? How, if at all, should Wiley be disciplined? Defend your answer. OMP should question Wiley about his...
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...MICHAEL C. KNAPP SEVENTH EDITION MAKE IT YOURS! SELECT JUST THE CASES YOU NEED Through Cengage Learning’s Make It Yours, you can — simply, quickly, and affordably — create a quality auditing text that is tailored to your course. • Pick your coverage and only pay for the cases you use. • Add cases from a prior edition of Knapp’s Contemporary Auditing. • Add your course materials and assignments. • Pick your own unique cover design. We recognize that not every program covers the same cases and topics in your auditing course. Chris Knapp wrote his case book for people to use either as a core e book or as a supplement to an existing book. If you would like to use a custom auditing case book or supplement the South-Western accounting book you are currently using, simply check the cases you want to include, indicate if there are other course materials you would like to add, and click submit. A Cengage Learning representative will contact you to review and confirm your order. G E T S T A R T E D Visit www.custom.cengage.com/makeityours/knapp7e to make your selections and provide details on anything else you would like to include. Prefer to use pen and paper? No problem. Fill out questions 1-4 and fax this form to 1.800.270.3310. A Custom Solutions editor will contact you within 2-3 business days to discuss the options you have selected. 1. Which of the following cases would you like to include? Section 1: Comprehensive Cases 1.1 1.2 ...
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...Abstract The Sarbanes-Oxley Act came into effect in July 2002 and introduced major changes to the guidelines of corporate authority and financial practice. It is named after Senator Paul Sarbanes and Representative Michael Oxley, who were its main originators. The Sarbanes Oxley Act set a number of non-negotiable deadlines for publically traded companies to comply to. The Sarbanes-Oxley Act is arranged into eleven titles. As far as compliance is concerned, the most important section within these eleven titles is usually considered to be Section 404, which deals with internal controls. Since 2002, there has been a lot of debate about whether the act has positively or negatively affected corporate America. In this paper I have discussed the opinions of both sides of the argument. The Sarbanes-Oxley Act is a bill passed by Congress in 2002 after several corporations took actions that caused their companies to fail. These companies include Enron and WorldCom. As a result of these actions, stockholders lost confidence in the financial system. The intent of the bill is to protect investors of corporations by making the corporations accountable for any unacceptable accounting errors and practices. The Act is named after its main proponents, Senator Paul Sarbanes and Representative Michael Oxley. The Acts real name is the Public Company Accounting Reform and Investor Protection Act (Baltzan, & Phillips, 2007). President...
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...motto sewed Arthur Andersen & Co. well. Unfortunately, the firm's association with one client, Enron Corporation, abruptly ended Andersen's long and proud history in the public accounting profession. K Y TOPICS: history of the public accounting profession in the United States, scope of E professional services provided to audit clients, auditor independence, and retention of audit workpapers. ; Case 1.2 Just for FEET, Inc. 23 In the fall of 1999, just a few months after reporting a record profit for fiscal 1998, Just for Feet collapsed and filed for bankruptcy. Subsequent investigations by law enforcement authorities revealed a massive accounting fraud that had grossly misrepresented the company's reported operating results. Key features of the fraud were improper accounting for "vendor allowances" and intentional understatements of the company's inventory valuation allowance. K Y TOPICS: applying analytical procedures, identifying inherent risk and control risk E factors, need for auditors to monitor key developments within the client's industry assessing the health of a client's industry, and receivables confirmation procedures. Case 1.3 Jamaica Water P r o p e r t i e s 37 Shortly after accepting an executive position with JWP David Sokol discovered several suspicious items in the company's accounting records. Sokol insisted on thoroughly investigating those items. When that investigation...
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...are organizational managers. They have to come up with concrete decisions that are in line with the objects of the companies they are serving. In this case, they are expected to make decisions without fearing the end results. The case in this article is not different. For instance; there are four decisions to be made concerning the best company to be hired to provide computer services for knowledge sharing. Jackson, being the officer in charge of the department, is appointed by the president of McConnell Spices firm as an overseer in this matter. Therefore, he conducted research and came up with his proposals of which, has to be approved by the firm's board members. Despite being incapable of providing the services required by the company, Madam McConnell questions why Jackson has not included Standard Systems in his list. This scenario leaves Jackson with two major decisions to make. Other important decisions to be made are group decisions and the decisions of the board. All these decisions are explained in this paper. Case Study: McConnell Spice Mr. Charles Jackson, a chief information officer at McConnell Spice limited, has to make two critical decisions concerning his findings of a suitable firm that has the potential of equipping McConnell Spice with the required software applications. First, he has to make a decision on whether to reject or approve the Standard Systems as influenced by the president of the company, Mrs. McConnell. Decision-making is part of the integral...
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...Contents 1.0 Introduction 2 2.0 Intrapersonal Effectiveness 2 2.1 Definition of Intrapersonal Effectiveness----------------------------------------------------------------------------------- 2 2.2 Jackson’s Hybrid Model 2 2.3 Learning Style Profiler 3 2.4 Goals Settin 4 2.5 Organisational Effectiveness 4 3.0 Social and Cultural Issues---------------------------------------------------------------------------------------------------------- 5 4.0 Interpersonal Effectiveness 5 4.1 Definition of Interpersonal Effectiveness 5 4.2 Communication Process Model 5 4.3 SPARK 6 4.4 Diversity and Culture 6 4.5 Organisational Effectiveness 7 5.0 Conclusion 7 6.0 References 8 7.0 Appendices 10 1.0 Introduction Learning is regard as holistic processes of adaptation to the world. People learn for the resolution of possible conflicts between dialectically opposed and synergetic modes between the workplace and oneself (Kolb & Kolb, 2005). In the portfolio I will reflect on my learning in relation to my experiences that I have study on BSB124. I will discuss it in two second, including intrapersonal effectiveness and interpersonal effectiveness. First, I will indicate how my learning style helps me be effective to intrapersonal study and work. Then, I will reflect on my practice as developing our group presentation. My reflections will be evaluated and supported by reference to the related theories and models we have learnt from this unit. Also...
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...Introduction Engendering the emotional energy of employees is the most difficult challenge facing organisational leaders worldwide. Several organisational behaviours can be attributed towards how successful a company will be. Motivation is a crucial aspect in many organisations and is also a key determinant in the triumph of a business. Motivation is defined as the process of initiating and directing behaviour, and willingness to exert high levels of effort to drive toward organisational goals, conditioned by the effort's ability to satisfy individual needs (Gabriel 1989: 224; Mathis & Jackson 2006: 79). Therefore, motivation is considered to be detrimental to the facets of management within the workforce, where the quality of work that people express is often a result of the motivation they possess. This essay will discuss the concept of motivation by focusing on content theories of motivation and its related theories through exploration of the variable nature of needs and expectations. Also, this essay will discuss the importance of having a motivated workforce and how the application of these theories is pivotal in achieving staff motivation. Lastly, this essay will include an evaluation of Southwest Airlines, with particular emphasis on the links between motivation and value creation for the company, as well as staff satisfaction. Motivation The motivational process in management can be treated as a need satisfying process. Content theories of motivation are primarily...
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...Business Consulting Kevin Jackson University of Phoenix MGT/527 August 13, 2012 Sandy Yeh Abstract Business consulting has a long history in America. In 1890, Fredrick Winslow Taylor was the first business consultant, which he called it scientific management and many of the practices are still relevant in modern organizations (Public Broadcasting Station, n.d.). Organization uses internal and external consultants; however, organizations use external consultants more than internal consultants. External and internal consultants use the same functions and roles to solve a problem an organization has. This is a review of those functions and responsibilities of business consultants. The author believes internal consultants are more equipped to solve problems and improve organizational functions because he or she understands the organizational structure and culture. Business Consultant A person who is a business consultant provides advice and solutions to other business this includes small businesses to Fortune 500 organizations. Business consulting has numerous types of sub-categories, which includes marketing consultants, sales consultant, and human resources consultant. Although there are numerous types of business consultants, organizations do not require business consultants services enough to hire a full-time member (Consultant Journal, 2012). However, some businesses do have internal consultants, but these consultants are part of...
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... the Horizontal analysis, Vertical analysis and also the trend analysis. Finally, the report will provide conclusions and recommendations. This report was based on the balance sheet, income statement and some professional information from BEACH ENERGY LIMITED. Introduction BEACH ENERGY LIMITED is a long established oil and gas exploration and production organization. The company is based on the Adelaide, South Australia and Beach Energy Limited (ASX: BPT) is a creation of the long-oil and gas exploration and production companies. The company is headquartered in South Australia in Adelaide, through balanced global portfolio of tenements held by the oil and gas reserves and ongoing exploration projects. BEACH ENETGY LIMITED is the major Australian company and was established in 1961. Beach Energy, original beach Petroleum, founded in the early 1960s, registered by the late Dr. Sprigg, a highly regarded Australian oilman, geologist, explorer and environmental experts. With the election of a new board of directors in the 1990s, the company has returned to its focus on its traditional role of the oil and gas exploration. Beach what the board of directors as a comprehensive exploration and production tenements and exciting mix. The corporate goal of BEACH ENERGY LIMITED is to domestic and international recognition as an innovative and successful explorer, discoverer and development of oil, gas and energy resources; industry peers...
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...The Reluctant Worker The Reluctant Worker Case Study Melanie Jackson Michael Clark Project Management 375 July 29, 2012 The Reluctant Workers One of the most important but often least understood characteristics of good project managers is the ability to know their own strengths and weaknesses and those of their employees (Kerzner, 2009, p. 148). In the Reluctant Workers case study there were three core skills directly related to proficiency in effective program management at play: Team Building, Conflict Resolution and Leadership skills. This paper will discuss these three core skills along with an analysis of the way the young project manager exercised his effectiveness skills. It will also analyze the degree of support the company provided the project manager and to what extent he received it. Lastly, in order for both the senior executive and the project manager to become effective leaders recommendations will be made relative to personnel and resource allocation. Team Building One of the hardest things for a Project Manager to learn is how to build a team. Project Managers plays several roles, which includes an array of responsibilities such as team management, conflict resolution, coaching, mentoring, scheduling, planning, interviewing, and training. Tim Aston, a newly hired Project Manager arrived on the job excited about his new position. Tim wanted to prove that he was the best project manager this company had ever hired. After Tim was...
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...INTRODUCTION According to Webb (1998), KM is the process of identification, optimization and active management of intellectual assets to create value, increase productivity and gain and sustain competitive advantage. Meanwhile, Murray (1998) said KM is a strategy that turns an organization’s intellectual assets and the talents of its members to produce new productivity, value and increase competitiveness. Therefore, we can conclude that KM is a discipline, designed to provide strategy, process, and technology to increase organizational learning. A part from that, strategy is the major plan to be undertaken and allocating resources to organization (Cannon, 1968). Aaker (1984) also suggested that, organization needs to assign people or a group of people to seize the responsibility for analysing new issues, such as KM and developing responsive strategies. This is due to the fact that KM is gradually turning into a major resource center for the organizations. The basic factors provide the changes for competition...
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...This essay will explore, explain and evaluate the key different types of budgeting within a business as well as the importance of why businesses must keep their costs under control. Firstly it will examine key types of planning and budgeting along with how they are interconnected. Secondly it will focus upon how a business might prepare its annual master budget, including how budgeted balance sheets, cash budget and budgeted income statements affect the overall master budget. Finally it will examine potential behavioural issues that might arise within a business. When managing a company’s finance the use of planning, control and budgeting are all equally important and interconnected with one another. In effect, when a company keeping a tight rein on cash flow, fixed costs and variable costs through the use of planning and budgeting, it will consequently allow the company to better control its profit margin. When conducting research on the importance of planning and control Kay states: Control and planning are interrelated so closely that they cannot be separated from each other. Without control all the planning is fruitless because control consists of the steps taken to ensure that the performance of the organization conforms to the plans. (Kay, 2012) Kay indicates that what has been previously written about within this essay is correct; additionally it suggests that both are directly interconnected with one another...
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...‘Decisions involving huge outlays of capital are almost always classic gut decisions: they involve risky, inherently ambiguous judgements between unclear alternatives.’ Do you agree? Justify your answer using decision-making theory and relevant examples from at least two industries. With the development of globalisation, numerous international business and investors come across decision-making every day, and sometimes need to discover solutions for high capital investment in different environments. Some people suggest that most of those decisions are generated out of top managers’ intuition to make vague directions in uncertain environments. This essay argues Managerial decision making consists of intuitive thinking and systematic thinking: both are important but more systematic thinking should be used particularly in decision making of huge capital outlays. This essay will demonstrate the argument by defining relationship among decision, information and environment; strengths and issues of gut decision (intuitive thinking), systematic thinking; in addition, intuitive and systematic thinking are supported by theories through historical and current approaches and industrial applications respectively. First of all, the availability of information influences outcome of decision making. “Decision” (Schermerhorn Jr, Davidson, Poole, Simon, Woods, and Chau 2011p.70), is to choose the most suitable way of sequence of activities. In management theory, Schermerhorn et al. (2011)...
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...2 CONCEPTUAL FRAMEWORK UNDERLYING FINANCIAL ACCOUNTING Show Me the Earnings! The growth of new-economy business on the Internet has led to the development of new measures of performance. When Priceline.com splashed onto the dot-com scene, it touted steady growth in a measure called “unique offers by users” to explain its heady stock price. To draw investors to its stock, Drugstore.com focused on the number of “unique customers” at its website. After all, new businesses call for new performance measures, right? Not necessarily. In fact, these indicators failed to show any consistent relationship between profits and website visits. Eventually, as the graphs below show, the profits never materialized, and stock prices fell. The lesson here: Although the new economy may require some new measures, investors need to be careful not to forget the reliable traditional ones. PRICELINE.COM Net unique offers by users 3.0 million 2.0 1.0 0 I II III IV 1999 I II III IV 2000 DRUGSTORE.COM Unique customers 2.0 million 1.5 1.0 0.5 0 I II III IV 1999 I II III IV 2000 Stock price $120 a share 80 40 0 I II III IV 1999 I II III IV 2000 2000-IV close $2.13 Stock price $40 a share 30 20 10 0 I II III IV 1999 I II III IV 2000 2000-IV close $1.03 Source: Story and graphs adapted from Gretchen Morgenson, “How Did They Value Stocks? Count the Absurd Ways,” New York Times (March 18, 2001), section 3, p. 1. 34 Copyright ©2008 John Wiley & Sons, Inc. Preview of Chapter 2 As the opening...
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...The failure of banks can always be prevented by numerous ways. The main technique is to establish the system of regulation in order to reduce the risk of bank failing. With the regulation, the banks would be authorised on the basis of meeting minimum standards, and will continued to be supervised to ensure that certain standards or requirements are maintained. This would instill more confidence to the economic actors.[1] The risk of the banks become poorly capitalised, fraudulently or incompetently run compared to if no system of external regulation were take place will be lower. Unfortunately, the regulation does not perform well as an alternative for the regulation by the market, nor replace the need for management to take prime responsibility for bank’s activities. As time goes by, there has been increasing recognition of both the limitation of regulation and its role. [2] Perhaps, the market discipline will play a greater role in financial and to bring benefits in future. Nevertheless, an effective system of regulation still play an important role in minimising the risk of bank failure and to maintain consumers’ confidence in the banking system. Banking Regulation: Objectives and Rationales The main objectives of banking regulation are to protect the investors and provide prevention of bank failures and depositor runs as well as minimisation of the risk of contagion that these may create.[3] The term regulation is used in a broad sense, Goodhart used it to refer to the...
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