Summary of Facts of the Case Study - 3381 Words

1.0 SUMMARY OF FACTS OF THE CASE STUDY After understanding the overall of case study, Arthur Andersen: Questionable Accounting Practice, we have identified a few facts. The following subsection will present the facts. 1.1 ARTHUR ANDERSEN Arthur Andersen LLP was founded in Chicago in 1913 by Arthur Andersen and partner Clerence DeLeny. Over a span or nearly 90 years, the Chicago accounting would became known as one of the â€Å"Big Five† largest accounting firms in the United States together with Deloitte amp; Touche, PricewaterhouseCoopers, Ernst amp; Young, and KPMG. For most of those years, the firm’s name was synonymous with trust, integrity, and ethics. In its earlier days, Anderson sets standards for the accounting†¦show more content†¦However, during nearly two years of investigation, reports surfaced that Andersen has been warned of possible fraudulent activity, and the firm eventually agreed to pay $217 million to settle the shareholder lawsuit in May 2002. 1.4 Sunbeam Andersen’s troubles over Sunbeam Corporation began when its audits failed to address serious accounting errors that eventually led to a class-action lawsuit by Sunbeam investor and the ouster of CEO Albert Dunlap in 1998. Boca-based Sunbeam is the maker of such home appliance brands as Mr. Coffee, Mixmaster, Oster, Powermate and others. The company was also accused of using improper â€Å"bill and hold† transactions, which involve booking sales month ahead of actual shipment or billing, temporary inflating revenue through account receivable, and artificially boosting quarterly net income. As a result, Sunbeam was forced to restate six quarters of financial statements. In August 2002, a federal judge approved a $141 million settlement in the case. In it, Andersen agreed to pay $110 million to resolve the claims without admitting fault or liability. Losses to Sunbeam shareholders amounted to about $4.4 billion, with job losses of about $1,700. 1.5 Waste Management Overstated earnings $1.4 billion at waste management was found by Andersen itself in court over questionable accounting practice. This charged Waste Management was complained filed by the SEC with a huge crime financial fraud over a period ofShow MoreRelatedAcc 281 Week 5 Final Paper1036 Words   |  5 Pagesof the Final Paper Write an 8 to 10 page Case Analysis of the following article (which can be found in the Ashford Online ProQuest database): Souza, M. McCarty, B. (2007). From bottom to top: How one provider retooled its collections [electronic version]. Healthcare Financial Management, 61(9), 67-73. Include the following: 1) Complete summary of the case study that identifies the key problems and issues, provides background information, relevant facts, the solution employed, and the resultsRead MoreThe Nuremberg Of Trial ( 1946 )1127 Words   |  5 PagesNuremberg Doctors Trial (1946) Brief Summary: The Nuremberg Doctor’s trial of 1946 involves human experimentation performed by the Nazi doctors. These physicians were accused of conducting torturous â€Å"experiments† with concentration camp inmates. During these studies, physicians conducted treatments that were not permitted and caused severe injuries to the participants, and in some cases, participants died as a result of this. Prisoners were left to freeze to study more on hypothermia. Later, duringRead MoreBusiness Research Methodology - How to Write Research Purpose, Objectives and Summary1536 Words   |  7 Pages- Business Research Methodology How to write Research Purpose, Objectives and Summary Syed Qasim MBA Question No. 1 State research purpose, objectives and summarize each article with reference (i.e. literature review format). Case Study No-1 Human Resource Management Practices: A Case Study of the Supply Chain Department of Square Pharmaceuticals Ltd. Reseach Purpose : The purpose of this study is to ensure that at all times the business is correctly staffed by the right numberRead MoreDelays at Logan Airport Essay973 Words   |  4 Pagestype. appendix that includes the details of the calculation, figures, tables, etc not exceed 2 pages. - Start with an executive summary (maximum 0.5 pages), which summarizes your recommendations and findings. - The main body: detailed discussion based on the provided questions and analysis of the quantitative questions. State assumptions. Do not restate case facts. Summary tables in the text are encouraged for quantitative information. The details of the calculation can be put in the appendix, butRead MoreHurricane Katrina: Analysis And Summary Of Articles1. .1567 Words   |  7 PagesHurricane Katrina: Analysis and Summary of Articles 1 Hurricane Katrina: Analysis and Summary of Articles Micheal Boor GO125DL Natural Disasters Park University Ms. Jill Lockard 09 April 2017 Hurricane Katrina: Analysis and Summary of Articles 2 Abstract The intent of this paper will be to analyze and summarize scholarly case studies and news articles concerning the flooding caused when Hurricane Katrina made landfall in Louisiana in 2005. Additionally, this paper will provideRead MoreApse At The Additional Qualititave Approaches Essay1209 Words   |  5 Pagesresearch is considered adequate to understand the meanings with which people make up the world (Creswell, 2018). In this sense, the study of stories allows us to understand the meanings that are expressed, organized and created in them. Another reason that justifies this type of research is that the narratives allow to illuminate to a large extent the personal thing. In fact, stories that people tell are useful because they provide information about the internalized worlds of themselves or others, allowingRead MoreEssay on Legal Studies: Tips on Hsc Extended Responses1569 Words   |  7 Pagessentences and ï‚ · correct paragraph structure are important. The first sentence (topic sentence) of each paragraph introduces the paragraph and should inform the reader of the point you are making and how this paragraph relates to the question. In fact, if the reader were to scan your topic sentences, they should be able to obtain a sketch of the entire essay. This sketch should show the logical progression of the points you are making. Absence of topic sentences leaves the reader wondering whatRead MoreDelta Air Lines Airport Airspace Capacity Case Study800 Words   |  4 PagesDelta Air Lines Airport Airspace Capacity Case Study The Hartsfield-Jackson Atlanta International Airport is one of the largest airports in the world and is the main hub for Delta Air Lines, one of the largest airlines in the world. This case study will examine the relationship between demand and capacity for the home hub of Delta Air Lines. Future predictions for air travel estimate enormous growth rates as high as 50% by the year 2025. Airlines, airports, and the entire air-travel infrastructureRead MoreDeterminants of Survival of Newly Created SMEs in the Brazilian Manufacturing Industry: an Econometric Study1081 Words   |  5 Pagesexpected, that the net job creation effect is likely to be stronger in service industries. Nevertheless, more recent studies provide appealing evidence on particularly high net job creation by small firms also in the context of the manufacturing industry as suggested by Hijzen et al. (2010) and Neumark et al. (2011). Indeed, besides the job creation aspect, a well-known stylized fact refers to the lar ge mortality of smaller firms a few years after start-up [see Bartelsman et al. (2005)]. In this regardRead MoreCompensation at W.L. Gore Templete in Apa Format1054 Words   |  5 Pagesreview for this class). Remember, each case study must have the heading listed below and must be answered according to instructions; each heading is worth a percentage of each case grade. This is how I want your paper turned in. This section, if written properly, can actually act as the abstract for this paper. It will, in a sense, set up the rest of the paper, which is the review/analysis of findings, the questions being asked, recommendations, and the summary and conclusions sections. Text