Generational accounting

The United States Congress is the ground for policymaking in our nation. I chose to write about corruption in Congress, because the 535 members of the House and the Senate have the power to place limitations on levying taxes, and solving problems that cause America to be so divided. The legislative branch is able to control almost every aspect of American life in some way. A Princeton University study comparing 1,779 outcomes to what the public actually wanted found that groups representing…

management focuses on parts that account for the highest annual expenditure of inventory (Onwubolu and Dube, 2006). In ABC analysis, generally but not mandatorily, items of category A include approximately 5 to 20 percent of all items of inventory, accounting for approximately 50-80 percent of annual…

WorldCom had recently been caught up in an accounting scandal, forcing the SEC to take a closer look into many large corporations’ accounting procedures. One of these corporations was Qwest Communications. While looking into Qwest, the SEC determined that Qwest had been improperly following the accounting guidelines and had inflated their revenue by billions. In 2004, the SEC charged Qwest Communications International Inc. with securities fraud and other violations of the federal securities…

Being and active duty member of the United States Coast Guard, I conduct multi-mission maritime services throughout the globe. I save lives, provide a safe transportation system, protect the environment, enforce laws and protect our national security. Over the years, these services have caused a demand for information system to revolutionize. These advances are needed to analyze and interpret data to coordinate responses to emergencies, track vital information and train personnel. One…

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,…