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Capstone Research Project (5)
Finance & Accounting
Pages 8 (2008 words)
Capstone Research Project (#5) Table of Contents Table of Contents 2 1.0 GAAP 4 2.0 Leases on Technology Assets Seem Inflated 5 2.1 Current Lease Accounting 5 2.2 Consequences 6 2.3 Red Flags 6 2.4 Recommendation 7 3.0 E-Commerce state tax payments 7 3.1 Consequences 7 3.2 Red Flags 8 3.3 Recommendation 8 4.0 Fictitious Employees Receiving Post-Employment Benefits 8 4.1 Consequences 9 4.2 Red Flags 9 4.3 Recommendation 9 5.0 Concealing Inventory Shrinkage because it seems Low for the Industry 10 5.1 Consequences 10 5.2 Red Flags 10 5.3 Recommendation 11 6.0 Hiding Cash in Order to help in Future Quarters Where Earnings do not meet Analyst’s Expectations 11 6.1 Consequences 11 6.2 Red Flags …
GAAP rule works in connection with SEC rules for public companies. GAAP rule emphasizes on covering financial statements presented in balance sheet for at least three years. GAAP need to work closely with SEC regulations in order to measure performance of companies. In accordance to GAAP guideline interim periods must be viewed as essential part of financial year. This guideline helps accountants to allocate cost elements for different financial period. GAAP also focuses on examining unscrupulous transactions in order to identify financial frauds. Although GAAP rules differ on the basis of accounting standards of different countries. Financial fraud is multi dimensional event in terms of variety of impact and nature of fraud. In many cases financial analysts of companies intentionally forecast inflated market capitalization value in order to fulfill dubious objective. ...
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