Corporate Fraud in Richards Letter Essay Example | Topics and Well Written Essays - 1500 words

Corporate Fraud in Richards Letter - Essay Example The seriousness of Richard’s action against Richard, as the global head of sales, in the Computer Associates Corporation, he was involved in various acts, which affected his responsibilities in the company. One of his actions was the facilitation of an extension of the fiscal quarter (Soltes 4). This was indeed serious since it affected the reporting of the other fiscal quarters. The effectiveness of the information reported by extension of a fiscal quarter would be affected. Richard was also accused of allowing his subordinates to obtain contracts after the end of a fiscal quarter (Soltes 4). This is serious because it will influence the accuracy of the financial reports used by the stakeholders. The accuracy of financial information for the organization is remarkably essential for both the management and other stakeholders involved such as the investors. Inaccurate financial information may affect the expectations of the prospecting investors and shareholders of the organiza tion. It is better for an organization to give accurate financial information rather than falsehood representation. Information represented falsely can lead to extortion of investors emanating from misleading financial information. ... Although the actions of Richard emanated from the company’s culture of maintaining its performance, the actions of Richard did not follow ethical standards. When proper accounting approaches according to GAAP are used, accurate and efficient financial information is obtained. The chief reason for carrying out investigations on Computer Associates Company was because SEC doubted the accounting reporting of the company. When GAAP approaches are not used in a company’s financial reporting, it is most likely that the company’s financial reporting would have problems. For instance, one of the GAAP approaches is the matching principle, where revenues are recognized in the period of their earning or in the period when expenses that match the revenues are paid. In Computer Associates Company, there was a problem regarding the recognition of revenues. It was noted that; some of the contracts were signed after the last day of a fiscal quarter. This had an impact on the rec ognition of revenues since revenues obtained from the contracts signed after the end of a trading quarter, could either be related to the first quarter or the following fiscal quarter. Falling of stocks by 42% and fall in expected financial results in the first quarter of 2001 made SEC notice that some accounting procedures of the company were not proper (Soltes 3). If the company achieved the same accounting results through GAAP, it would have implied that there could be other contributing factors other than the use of wrong accounting principles. For instance, there could be a misappropriation of funds, which could also be investigated by the relevant authorities.  

Economic of race and gender Essay Example | Topics and Well Written Essays - 750 words

Economic of race and gender - Essay Example Question One Emergence of changing gender roles and family in the modern society and women are advancing in their career and taking even more challenging roles at work that were believed to be men oriented. One of the factors that have contributed a lot to the shift to the joint conjugal roles is the mobility with respect to work and career (Kirby, 54). Most of the families with one couple being challenged physically may have the man performing the housework and childcare tasks. This is because those who are disabled may not fully perform these tasks or even go to work hence the other partner will have no choice but to do these duties. However, in certain modern families, there are women going to work while the man remain in the homes to take care of the children and do the housework (Kirby, 55).. By default assumption some family set ups and communities believe that the women are supposed to perform the housework and take care of the children while the men are supposed to work and p rovide; food, shelter and clothing to the family (Blundell & McNeill, 65). Question Two Lack of employment in most developing countries is also a major contributor to the inequalities in the pay. Low economic growth rate accompanied by bad governance is the source of unemployment and low paid jobs in most African countries compared to Europe (Clegg 23). He also argues that there are so many people looking for few jobs and in some cases the jobs are not even there. Corruption which is rooted in these countries also denies the right persons of the opportunities in the public sector thereby leaving most skilled labor. Some of which are exported to other countries which have their own legislative restrictions and therefore they encounter discrimination in those jobs. Question Three Discrimination against the tribes and races also contributes to the differences in the pay even if two different people working in different nations or in the same nation have the same qualifications (Blau & Winkler, 243). It is common to find that international companies which have gone global in terms of their operations do not provide similar work conditions for their employees. You find that a marketing manager for the Coca-Cola Company is paid higher in the United States of America than in South Africa. Even though the differences may be attributed to by the kind of profits that is realized and the size of the market that one has to capture as a manager, the differences are relatively not realistic. The variation in the pay is seen across all the nations across the world. However, there is a pattern for the relatively low pay for women in all the nations. Question Four Family serves as an economic unit since it constitutes members who determine the highest level of satisfaction that they can derive from different activities. The family provides the education and other important services in the process of raising the members of the society. It is therefore noticeable that the family plays an important role in determining the structure of employment in the overall economy. Discrimination in the pay that begins from the family persists in the society. The traditional roles of women and other discrimination with respect to the education of