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Essay / Research Paper Abstract
A 6 page paper discussing several events that have occurred just prior to the end of the quarter as the controller of ABC Manufacturing is about to prepare the company’s quarterly statement. A good customer has filed Chapter 11 bankruptcy; the company has sold real estate for a profit; a study indicates greater revenues in the future; and the company has suffered damage at a warehouse. The paper indicates which of these should be reported in the current quarter, which will allow the company to meet analysts’ projections. Bibliography lists 2 sources.
Page Count:
6 pages (~225 words per page)
File: CC6_KSacctEthManip.rtf
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Unformatted sample text from the term paper:
a recent corporate governance conference at the University of Tennessee, all but one speaker focused on Sarbanes-Oxley in one form or another - how much compliance costs, whether it is
needed. All publicly-traded companies are under intense pressure to meet quarterly estimates, to the detriment of building for the future by foregoing immediate gains in favor of greater gains
in the future. This was the situation at Enron in the early days of its use of special-purpose entities (SPEs). Enron was
undertaking some projects that required intense capital outlay and that it believed would post pleasing returns in the future. In the meantime, the capital requirements were such that had
Enron included them on its balance sheet, then it risked either dilution of future profits or its credit rating because of the great deal of debt that Enron would need
to finance these projects in the early years. Enron later abandoned ethics and law, but its actions at the outset were both legal and appropriate.
The time has come for ABC Manufacturing to compile its quarterly report, just as several material changes occur in its financial position or financial potential. The
purpose here is to assess these occurrences and how ABC Manufacturing can legitimately present its financial standing in such a light that enables it to meet analysts projections of 59
cents per share. Event 1: Bankruptcy of an Important Customer ABC Manufacturing is a furniture maker. The customer that has just filed
Chapter 11 is a "wholesale account that has been a long term and important customer" accounting for up to 10 percent of sales.
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