Career In Accounting Essay

From 2008 through 2012, 481 FDIC insured banks were either liquidated or merged with healthier institutions. Credit Unions saw 136 involuntary liquidations or assisted mergers at the hands of the National Credit Union Share Insurance Fund. In 2009, Credit Unions saw their delinquency for mortgage loans peak at 1.61 percent compared to 8.86 percent at the banks. Many of the largest corporate credit unions in the United States invested in troubled mortgage-backed securities which resulted in…

The act of submitting fraudulent claims is nothing new; many third-party payers are often the victim of these crimes. As a working individual that pays taxes through payroll deductions, like many Americans that have a contribution towards the Medicare program. I have a right to know where funds go and how they are disbursed. The reason I chose this particular regulation because there was a similar case of an Optometrist submitted fraudulent claims to Medicare. Dr. Sponseller was sentenced to…

Skeletal Outline • Jefferson County, Alabama o Two major reasons for Jefferson County’s $4 billion debt (largest before Detroit’s case) is due to sewer project and corrupt financial dealing. o Revenue are raised from residents who uses the service. o JPMorgan Chase was able to influence Jefferson County to a bond deal that had complicated terms and the ability to interest-rate swap. o With no increase in revenue as the market interest rate went up due to the swapping interest rate deal, so…

As the amount technology available continued to spread at an almost exponential rate, the size of computers, which once took up an entire room, and their price were reduced down to more manageable sizes. As a result, computers become a commonplace piece of equipment found in many workplaces and family living rooms. However, as the year 2000 drew near, people began to fear that drastic changes would occur in their lives because of a simple bug called the Year 2000, or simply, Y2K. People’s fears…

hadn't really wanted to see him hired, he found himself in the middle of a venal greed machine whose story unfolded with all the absurdity and frustration of a tale by Kafka crossed with Tulipomania and Liar's Poker. While Cruver's book examines the accounting tricks, the insider stock trades—and in a special section, how the grossly lucrative fraudulent partnerships were structured and funded—it…

auditor on those financial statements. The Sarbanes-Oxley Act was created because of the multiple accounting scandals of WorldCom & Enron in July 30, 2002. Because of that the investors lose billions of dollars, this negatively impacted financial stock market. Fraudulent accounting transaction and activities of immense business give rise to SOX. SOX was created to end self-regulations of the public accounting firms. It created Public Company Oversight Board (PCAOB), which is an independent,…

Fire Department The ISO review of the Fire Department accounts for 50% of the overall score and evaluates numerous different aspects, including: engine companies, reserve pumpers, pump capacity, ladder/service companies, reserve ladder/service trucks, deployment analysis, company personnel, training, and operational considerations. The 2012 version of the FSRS has placed more emphasis on proper placement and deployment of resources and less on the number of apparatus and the equipment carried…

consciousness that finally all of the accounting material stored in my brain has a meaningful purpose, other than to pass my required classes is exhilarating. Being able to convert theoretical skills into practical skills is beyond astonishing for me. An on growing locally owned business gave me the opportunity to finally work hands on with a job related to my accounting degree. Participating under the supervision of Elizabeth Rubio, who counts with a master’s degree in accounting, was a…

ERP (Enterprise Resource Planning) is a business process managing software which is developed from MRP (Material Requirement Planning). Many organizations and companies are operating ERP in order to improve their working performance, because ERP can integrate all departments of the company which can reduce the operating cost and enhance the working efficiency, ultimately affects the working output. ERP vendors are divided into three types: tier I, tier II, and tier III. Tier I vendors pays…

calculates an average cost based on the costs allocated to each user as first the primary user, the second-ranked user, the third-ranked user, and so on. 15-10 All contracts with U.S. government agencies must comply with cost accounting standards issued by the Cost Accounting Standards Board (CASB). 15-11 Areas of dispute between contracting parties can be reduced by making the “rules of the game” explicit and in writing at the time the contract is signed. 15-12 Companies increasingly are…