Explain the evidence you would need to obtain

Assignment Help Accounting Basics
Reference no: EM132998811

Question - WorldCom employees Dan Renfroe and Angela Walter made journal entries in the amount of $150 million and $771 million, respectively, without detailed support. Assuming WorldCom was a company operating in Australia at the time of the fraud:

Explain the evidence you would need to obtain to prove that each of the above journal entries represents 'false accounting' under Section 83 of the Crimes Act (1958)(Vic)

(Critically analyzes each journal entry according to the elements of false accounting and explains the evidence required. Includes all in-text references)

Reference no: EM132998811

Questions Cloud

Calculate the effective quarterly rate : Zax's friend Banner has worked in IT for a bit over a decade. Banner has suggested Zax add a repair and support service to his business, and Banner would be wil
Determine the net adjustment to the beginning balance : Determine the net adjustment to the beginning balance of retained earnings in 2021 (increase/-decrease) if the books in 2021 are still open
Describe the main elements of the bond : Describe the main elements of the bond: Coupon rate Calculate annual coupon payment (assuming face value $1,000)
Find the equivalent rate : Assume current mortgage rate is quoted as 2% per annum with quarterly compounding. Please find the equivalent rate with
Explain the evidence you would need to obtain : Explain the evidence you would need to obtain to prove that each of the above journal entries represents 'false accounting' under Section 83 of the Crimes Act
Find out market value per share : Jack Ltd has 10,000 shares outstanding with a market value of $10 per share. The firm just announced a stock dividend of 20 percent.
Calculate a company net cash flow from customers : Calculate a company's net cash flow from customers for the past year (as part of figuring its cash flow from operating activities).
What is the bet for speculator : Two speculators (Jan and John) in Canada sign a 3-month forward contract on US $1million. Jan is taking the long position and John is taking the short position.
Explain each stage of the subrogation process : Explain each stage of the 'subrogation' process and the impact the existence of this process has on premiums

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd