According to Hopkins and Gross (2010), the governing board plays a key role in how the nonprofit is controlled and handled. Based on how the organization is setup will determine how the governing board is selected, however, since they are the gate keeper of the organization (Hopkins & Gross, 2010), it would behoove the organization to have board members that are financially literate as it relates to business and budgets. Budgets are generally completed annually and the numbers should equate to…
5. The next day, Wilson asked Rifkin if he should refer Complainant to him directly. Rifkin didn’t want that either “no, we definitely don’t want to get the Legal Department in the middle of this.” If the “alleged incident” didn’t happen at RHD or during work hours, “there is nothing we can or should do legally.” Wilson wrote back on June 24 at 9:11 am, even more confused. Rifkin replied at 9:26 am, telling Wilson that he was not to investigate the incident. “I didn’t want to imply that you need…
36. a) Yes, because even though Peterman only provided Fogelman with a contract of agency that allowed him to sell the home, it can be inferred that he is also allowed to sell the piano that was still in the home. It does not have to be explicitly stated in the contract of agency. b) Yes, because it would be reasonable for a third party to assume that Fogelman is allowed to sell the piano that was still in the home, in which Peterman gave him the right to sell through a contract of agency.…
Alecia Swasy, a Wall Street Journal reporter, got a call in August 1991 from a former Procter & Gamble manager. He informed her that the police wanted to know what their previous conversations regarding P&G were about. The reason why this was happening because he was being investigated by Cincinnati fraud squad investigator Gary Armstrong. He was a part-time security guard for P&G and happened to have records of recent long-distance conversations, some which included calls with Alecia Swasy…
This article discussed how any archaeologist can treat house-floor assemblages at any site like the Pompeii systemic inventories. Schiffer points out that archaeologists need to make a difference on how they decide to deal with cultural artifacts that were found in archaeological sites. Schiffer’s point was to establish why there are many reasons why an artifact might be found where it is. He also wants to demonstrate and explain why de facto assemblages are depleting. Michael Schiffer states…
Hobby Lobby, the arts-and-crafts store operated by a Christian family which gained most of its publicity from a religious freedom case at the Supreme Court in 2014, has recently been gaining media attention once again — but this time, under accusations of smuggling biblical artifacts. The company came under fire when the U.S. Department of Justice found that it broke federal laws when it purchased and brought to America artifacts including clay bullae, cuneiform tablets, and cuneiform bricks…
Italy gets back stolen gold cart of Etruscan prince from Denmark A whole host of looted Etruscan treasures, including a Princes' golden carriage will begin arriving back in Italy later this year after spending the last forty years on display at a Danish museum. The priceless artefacts were stolen from the necropolis of in Eretum, the remains of an ancient, pre-Roman city in Lazio and sold to Copenhagen's Ny Carlsberg Glyptotek for 1.2 million Swiss Francs in the 1970s. Since 2008 Italian…
Introduction Financial reporting has changed a great deal over the past fourteen years. Many companies have went out of business for the most significant reason; unethical behavior in the work place. The Sarbanes-Oxley Act of 2002 was created to enforce financial reporting regulations and the punishments for non-cooperation. Before 2002, the regulations for financial reporting were less severe than they are presently. Companies weren't as worried about being under the radar if they decided to…
In 2002, Congress signed the Sarbanes-Oxley Act (SOX) in response to several notorious corporate scandals, including those at Enron/Worldcom. The piece of legislation was aimed to hold corporate officers personally liable and to rebuild public confidence in the corporate sector. SOX, “requires violations of securities laws or breaches of fiduciary responsibility to be reported to either the chief legal officer or CEO of the company by-house attorneys or outside counsel (Reed, & Bogardus, 2015)…
AggiePride Nationwide, assistant chief accountant at Martin Company, is trying to prepare a trial balance so that the quarterly financial statements can be prepared and released to management and regulatory agencies. Agg-ie noticed that the total credits on the trial balance exceeded the debits by $1,000. She added the amount of the difference in the Equipment account, the largest account percentage-wise, in order to force the debits and credits to balance. She assumes that her actions of…