Essays Tagged: "CFO"
The Unethical and Illegal actions of Enron.
onalwealth to enormous heights. During this research, it was very clear that thecorporate CEO's and CFO's had in fact reported fictitious earning reports. Thispaper will cover the following: (1) Uneth ... llion of their personally held Enron stock." Vital to theethical issue is the fact that the CEO and CFO participated in a fraudulent schemeand course of business that operated as fraud or deceit on pu ...
Subjects: Businesss Research Papers > Management
Foreign Exchange Rate Risk.
of an effective hedging program. While the task of managing financial risks generally falls to the CFO or treasurer, it is often others in the accounting department who are asked to evaluate the bott ...
Subjects: Businesss Research Papers > Markets & Exchanges
Critically evaluate the role of the accountancy profession in recent corporate scandals such as Enron, Xerox and WorldCom.
from watchdogs in their capacity as auditors to being the architects of clever deals and frauds as CFO's and CEO's.' (lies damn lies)In the Statement of Auditing Standards 100, published on March 199 ... would have to hope that more revenue was going to be received over the next years and so WorldCom's CFO defended his actions by stating that 'because WorldCom wasn't receiving revenue, he could defer ...
Subjects: Businesss Research Papers > Accounting
Today's CFO No longer a backroom "bean counter"
Today's CFO, is an example of the new breed of future senior executive officers - young, dynamic, energetic, ... ng, dynamic, energetic, ambitious and well-trained. No longer is a backroom "bean counter", today's CFO expected to be at the right hand of the chief executive or managing director, providing strong s ... rategic direction as well as acute financial analysis for the company. For this reason, the role of CFO is considered to be an influential stepping stone to higher office, and it is becoming more comm ...
Subjects: Businesss Research Papers > Case Studies
POSITIONS OF POWER: CFO VS. CEO "Are CFO's qualified for CEO positions?"
ne, especially at the business aspect. The increasing responsibilities of Chief Financial Officers (CFO's) and Chief Executive Officers (CEO's) require us to look beyond the normal responsibilities an ... changes are shaping each. Lately we are seeing that companies are looking at hiring or transferring CFO's into CEO positions. But the question we ask ourselves is "do CFO's have the insight and foresi ...
Subjects: Businesss Research Papers > Management
International Finance Paper
of an effective hedging program. While the task of managing financial risks generally falls to the CFO or treasurer, often it is the responsibility of others in the accounting department who are aske ...
Subjects: Businesss Research Papers > Accounting
Orin Smith: Starbucks.
d Smith, who was then working at Danzas (a freight shipping company) to enlist him as the company's CFO. Smith was able to see the vision and future potential of Starbucks. It was then, that Smith beg ...
Subjects: Businesss Research Papers > Case Studies
Accounting Ethics Article Review.
y high profile corporate ethics issues fo today. Today we hear about Marta Stewart, Scott Sullivan (CFO of World Com), and the family business bungling of Adelphia. We only hear about these cases beca ... on of the Sarbanes-Oxley Act. The Sarbanes-Oxley Act makes corporate officials especially CEO's and CFO's accountable for unethical accounting practices. CEO's and CFO's now must comply with: Manageme ...
Subjects: Businesss Research Papers > Accounting
To BUy or Not to Buy- Lease vs. Buy Decisions
additional capital purchases over a 6-7 year period. Acting as the firm's Chief Financial Officer (CFO) students were tasked with selecting the optimal mode of financing the company's acquisitions. T ... onsideration financial pitfalls and regulatory issues.The first step in the simulation required the CFO to evaluate the lease and buy options pertaining to the firm's need of a mainframe computer. The ...
Subjects: Businesss Research Papers
Business and Government Intervention of Business
This week, former Tyco CFO Mark Swartz and former Tyco CEO Dennis Kozlowski, were both sentenced in the Tyco Fraud case. Th ...
Subjects: Social Science Essays > Current Issues
From CFO to CEO: Do you think finance departments are the best place to train future CEOs?
In my opinion, promoting the Chief Financial Officer (CFO) to the Chief Executive Officer (CEO) can be a risky move. I will first explain the pros and the ... ve Officer (CEO) can be a risky move. I will first explain the pros and then the cons of moving the CFO to CEO, and why I would be against this move most every time.The duties of the CEO are he /she s ... ion, be a decision maker, risk taker, and always on the pulse of every head managers department.The CFO's primary role in the company will be to examine the day-to-day financial outlook of the company ...
Subjects: Businesss Research Papers > Management > Human Resource Management
Analyzing Lease vs. Buy Decisions
ved too. I completed the Financial Analysis for Managers simulation which required me to act as the CFO for the Bonnesante Research firm. As the CFO I was put in position to make crucial decisions reg ...
Subjects: Businesss Research Papers > Accounting
The Cost of Being a CEO or CFO
In light of the recent corporate scandals and new regulations, do you think being a CFO will become a more desirable position or a less desirable position for an executive to have? As ... Chief Executive Officer has given me a new regard to the position and made me realize that being a CFO is a less desirable career goal for a prospective corporate executive. I feel my opinion mirrors ... of the Bean Counters?. In the article he stated that only one letter of the alphabet separates the CFO from the CEO but when it comes to compensation, prestige, and glamour, there is a vast distance ...
Subjects: Businesss Research Papers > Accounting
How to Develop an Ethical Organization
al culture I began to wonder if we were any different from Kenneth Lay CEO of Enron, Scott Sullivan CFO of World Com, and the family business bungling of Adelphia? We only hear about these cases becau ...
Subjects: Businesss Research Papers
Benefits to having a CFO as CEO
oday's complex business environment, more and more companies are turning to Chief Finance Officers (CFO) to assume the premier position of Chief Executive Officer (CEO) of the company. However, the qu ... he qualities required of a CEO are not always in line with the training and experiences of a former CFO. Yet the CFO can bring many qualities to the CEO position to help a company succeed. What are th ...
Subjects: Businesss Research Papers > Management > Management Planning & Decision Making
Analzing Lease Simulation
ter. Now the decision needs to be taken to either lease or buy the mainframecomputer.Solution 1As a CFO of Bonnesante Research company, by taking my colleagues opinion intoconsideration, the CEO has d ...
Subjects: Businesss Research Papers
Rainbarrel Corp
ius; it needed a budget to guide it through difficult times.Hiram Phillips was hired to the role of CFO and expected to bring the necessary budget restraint to get Rainbarrel back on track and under c ... le unproductive quarters due to a slowdown in consumer spending. Hiram Phillips was brought on as a CFO and chief administrative officer to reverse the fortunes of the company. Hiram stepped in and im ...
Subjects: Businesss Research Papers > Case Studies
Options for Implementing a Leadership Change Organizational Leadership 531 UOP MBA Program
is vital to look into what is necessary for the company to go public. The Chief Financial Officer (CFO) is Michelle. She thinks that going public with the company is a great idea, but she wonders if ... ch consists of independent directors and at least one of the members of the IPO board has to have a CFO or CPA background. The GeneOne Company is to give the SEC financial documents which will be thei ...
Subjects: Businesss Research Papers
Risks of Noncompliance in Corporate Governance
possible lawsuits.Compliance vs. Noncompliance of RecommendationsSarbanes-Oxley Act, make CEO's and CFO's responsible to certify the financial reports of their individual companies. New criminal penal ... financial reports of their individual companies. New criminal penalties are placed, if the CEO's or CFO's report false statements for destroying or altering financial statements or records. These regu ...
Subjects: Businesss Research Papers > Management > Human Resource Management
Audit
arch 5 %Contents of the report 90%Total 100%Question 1: Following his resignation, MedTrans' former CFO met Gordon Johns, the Deloitte audit engagement partner. Did the CFO have a responsibility to in ... Johns of the errors in MedTrans' 1992 financial statements? Justify your answers.In this case, the CFO has the ethical responsibilities to inform Johns all the errors he finds out in the financial st ...
Subjects: Businesss Research Papers > Accounting