After objectives and standards are set, what step comes next in the control process?

Global Economic Crimes are said to be widespread and on the increase. As an aspiring fraud investigator, write an essay on globa

Marina86 [1]

Answer:

Global economic crimes consist of a wide range of economic offenses and include different forms of financial crimes that are committed. Examples of global economic crimes are money laundering, tax evasion, improper use of tax havens, embezzlement and bribery etc.

Global economic fraud is a sub set of global economic crime and consists of those actions that are considered as an intentional act of deception for the purpose of making financial gains. A dishonest advantage is gained through acts of global economic fraud. Examples of global economic frauds are identity fraud, banking fraud, investment fraud, and fraud by abuse of position.

Companies should be concerned about global crimes and frauds as these acts of crime and fraud may put companies in a position of disadvantage in the long run. These acts will dilute some of the value creation activities that companies are pursuing and in the long run these acts will prove detrimental to the value creation objectives of companies. Further the acts of crime and fraud increase the risk scenario in which companies operate and hence the chances of losing money increase manifold.

Companies should address the issue of fraud and crime in a tangible manner and approach to tackle them on a heads on basis. To address the issues companies should firstly recognize fraud when they first see and encounter it. For this companies will require robust fraud risk assessment framework in place. When motivations are identified beforehand then better controls will be put in place by companies, thus significantly reducing the chances of fraud and crime.

5 0

3 years ago

Hot Dog Express (HDE) is currently buying its buns from Buns-For-All for $0.50 per dozen. Each month, it purchases 14,000 dozen

Greeley [361]

Answer:

Cost of Make = $2,240

Explanation:

The computation of Saving in Cost by Make or buy is shown below:-

Make Buy

Material $2,800

($0.20 × 14,000 Buns)

Direct Labor $1,400

($0.10 × 14,000 Buns)

Variable Factory Overhead $560

($0.04 × 14,000 Buns)

Purchase Cost of Buns $7,000

(14,000 × $ 0.50)

Total Cost $4,760 $7,000

Therefore the Saving in Cost by Make = $7,000 - $4,760

= $2,240

3 0

3 years ago

slytherin services, inc. granted 8 million of its $1 par common shares to executives subject to foreiture if employment is termi

hjlf

The total compensation cost pertaining to the restricted shares equals to the amount of $48 million.

<h3>What are compensation cost?</h3>

Also known as compensation expenses, include the recruiting costs, salaries, payroll taxes, benefits and bonuses. They form the significant part of a company's operating costs, which means that it affects corporate profitability.

According to the scenario, we will calculate the total compensation cost pertaining to the restricted shares by using following formula. Total Compensation Cost Pertaining to the Restricted Shares:

= Common Share × Market Price Per Share

= 8 million × $6

= $48 million

Read more about compensation cost

brainly.com/question/16258021

#SPJ1

8 0

1 year ago

Consider historical data showing that the average annual rate of return on the S&P 500 portfolio over the past 90 years has

Sophie [7]

Answer:

1) 0.0900

2) 0.0884

3) 0.0836

4) 0.0756

5) 0.0644

6) 0.0500

Explanation:

WBills Rbils Windex Rindex R-portfolio α-portfolio α²-portfolio (A=2)

(A) (B) (C) D(8%+5%) AB+CD C20%

0.0 5% 1.0 13% 0.13 0.20 0.04 0.0900

0.2 5% 0.8 13% 0.114 0.16 0.0256 0.0884

0.4 5% 0.6 13% 0.098 0.12 0.0144 0.0836

0.6 5% 0.4 13% 0.082 0.08 0.0064 0.0756

0.8 5% 0.2 13% 0.066 0.04 0.0016 0.0644

1.0 5% 0.0 13% 0.050 0.00 0.0000 0.0500

Utility level values of each portfolio for an investor with A=2

1) 0.13 - (0.5 ×2×0.04) = 0.0900

2) 0.114 - (0.5×2×0.0256) = 0.0884

3) 0.098 - (0.5×2×0.0144) = 0.0836

4) 0.082 - ( 0.5×2×0.0064) = 0.0756

5) 0.066 - ( 0.5×2×0.0016) = 0.0644

6) 0.050 - ( 0.5×2×0.000) = 0.0500

5 0

3 years ago

Billings Inc. has net income of $161,000, a profit margin of 7.6 percent, and an accounts receivable balance of $127,100. Assume

Alexandra [31]

Answer:

33.18 days

Explanation:

Sales = $161,000 / 0.076

Sales = $2,118,421

Credit sales = 66% * Sales

Credit sales = 66 % * $2,118,421

Credit sales = $1,398,158

Receivable turnover = Credit sales / Account receivable balance

Receivable turnover = $1,398,158 / $127,100

Receivable turnover = 11 times

Days sales in receivable = 365 days / 11

Days sales in receivable = 33.18 days

4 0

3 years ago