Essay on Accounting

In 2003 Dominican Republic went through the biggest economic crisis in our history. A massive fraud involving Baninter, the country´s second largest bank, produced a general crisis. The damage to the economy was immense; People started referring to it as the hole generated by Baninter. High executives of this bank were laundering money and setting an important part of the income that it perceived in deposits into an external system or a parallel bank that they had created. The scandal was huge…

In 2012, JPMorgan Chase Company (that specializes in banking and financial services) has accidently reported the trading loss of $6 billion due the badly conceived trades of the company. Since the company had been quite well-controlled and profitable over years, the trading loss of $6 billion caused a lot of confusion in JPMorgan’s Central Investment Office. Later on, the investigators have found that the company has not lost $6 billion but this amount of money has been displayed due to the…

In other literature, before these phases there is other phase is called Pre-study phase: Pre-study phase The main objective of this phase is to ensure that the study to be done is properly targeted, that there is sufficient information to proceed with the study and that all the parties involved are well coordinated. According to Norton et.al (1995) there are a few distinct activities that characterize this phase namely the following: a. Orientation meeting The VM facilitator, the…

1. Key features Key features of Combined Cheeses Limited (CCL) that should be considered when selecting a costing system: • Handmade cheese; significant due to production costs being heavily influenced by labour costs. • Expanding quickly; require accurate costing information in order to remain efficient and competitive during growth. • No purchasing power over suppliers; focus of managing costs of converting milk into cheese and minimising wastage costs. • Distribution centre centralises…

Five Cognate Strategies in Business Communication Clarity and clear understanding helps in making comprehension much more easier. When using clarity in a piece of writing one has to bear in mind that they need to have a simple language with easy sentence structures in their message. The receiver of the message finds it easy to decode the presented message or ideas if they are a lot more clarified. The sender of the message should make sure that, the receiver finds it easy to understand and grasp…

John Perkins was a former member of the international banking community, very well respected. In his new book The New Confessions of an Economic Hit Man, he describes how he was a highly paid professional, his functions of being an (EHM), he helped the United States cheat poor countries around the globe. He convinced the political and economic leaders to invest in foreign aid by lending them money that could make it difficult for them to repay and allow them to take over their economies. The…

PCH PLC was recognized as a well-established IT company when it was listed in the CSE in 2010 but suddenly after two years from listing, the whole company was collapsed due to failures/frauds occurred within the company. The focus of this section is to discuss about the corporate governance failures/weaknesses of PCH PLC which affected to arise such failures/frauds within PCH PLC. Throughout this discussion it is expected evaluate the board structure & board balance, Chairman’s role as the CEO,…

The case study of Luck Company shows the strategic profiles that Luck company has taken for the past 90 years it has been in the industry of stone work along with other companies it has started and bought over that time. The strategy of Luck Company has changed a couple of times over the three ownership of the Luck Company. The strategies have changed over time because of different ownerships and economic times. During recession times the strategy is to keep the business operating without…

Abstract APOC, founded in 1909 as Anglo Persian oil company, was bought by England over more than 51% of its stock when it was about to fail on the initiative of Winston Churcill. It was subsequently privatized by the Thatcher campaign in the 1980s and soon became a major oil and refining company, with interests in clean blacks (such as solar panels) and attention to security procedures. But is all this enough for such a global company? Introduction BP, over time, suffered from a chain of major…

BANC DE BINARY SCANDAL: FILE A CIVIL CLAIM NOW! Banc de Binary, one of the biggest global providers of online trading in binary options renounced its authorisation Furthermore, the company was a sponsor of Liverpool FC offering to the club £1.5 million. The company provided its services via the domain eu.bancdebinary.com. Basically, the public could create an online account and trade binary options through the aforementioned website. The Israeli-owned and Cyprus registered company is accused of…