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Recent news stories have clearly established that there are increasing instances of cyber-crime that are plaguing major corporations and financial institutions. These crimes have taken many forms, such as:
External parties infiltrating corporate IT systems to steal customer information
Unauthorized parties stealing and using patents and other protected information
Corporate management falsifying documents and altering internal systems to steal funds from both corporations and customers
Internal corporate fraudsters establishing inappropriate processes in order to obtain vital information.
Each of these events caused the financial statements of these corporations to change in multiple ways, providing evidence that fraudulent activities had occurred.
What methods (or process) should these corporations establish in order to identify potential concerns using their own financial statements? Please cite examples of corporations that have taken additional steps.
On January 1, 2013, M Company granted 94,000 stock options to certain executives. The options are exercisable no sooner than December 31, 2015, and expire on January 1, 2019. Each option can be exercised to acquire one share of $1 par common stock fo..
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Assume that the goods are not damaged and can be resold at their normal selling price. Also assume that the selling company uses a perpetual inventory system.
Distinguish managerial accounting from financial accounting. Include a brief discussion of the differences in the types of information provided to users as well as the differences of the users of the accounting information.
Gift taxes paid on property were $3,000. Find what Alfred's basis for gain is and what is his basis for loss?
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Evaluate Kens gross income
Assume Kader Company has the following reported amounts: Sales revenue $510,000, Sales returns and allowances $15,000,Cost of goods sold $330,000, and Operating Expense: $110,000.
Calculate the total cost of a project or Job and compare that cost with potential revenues. One of the company’s best clients has offered WCB $11,000 to perform a power systems harmonics analysis for the client’s primary plant. While your client real..
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