Important Neolithic Sites in Europe

White Collar Crime And Its Effects On Society Essay

In 1939, American sociologist Edwin Sutherland introduced the phrase â€Å"white-collar crime†. White-collar crime is a nonviolent crime committed by a business or large corporations. They are usually scams or frauds to gain wealth in society. The people who are guilty of this crime lie, cheat and steal from investors of their company or business. Even though these crimes are non-violent, they have major impacts on the society. Their companies become non existent and families get destroyed. All of their life savings and savings for their children get taken away, and they become bankrupt. Not only does it affect their families, the investors who believed in their business lose millions or even billions of dollars. For this assignment I will examine a company that committed a white-collar crime and explain what that company did or how they were caught. Then, I will describe the impact that crime had on our society. Also, how do white-collar crimes differ from other for ms of crimes and deviant behavior. The case of white-collar crime I chose to educate myself on was the Enron scandal. The Enron corporation was an energy and services company in Houston, Texas. In just fifteen years, Enron became the seventh largest company in the world. They were one of the worlds largest electricity and natural gas companies. According to CNN, in 2000, the company claimed to have made around 111 billion dollars in revenue. During that time, a single share was going for $90.75.Show MoreRelatedWhite-Collar Crime Essay1057 Words   |  5 PagesToday, worldwide, there are several thousands of crimes being committed. Some don’t necessarily require a lethal weapon but are associated with various types of sophisticated fraud, this also known as a white-collar crime. These crimes involve a few different methods that take place within a business setting. While ethical business practices add money to the bottom line, unethical practices are ultimately leading t o business failure and impacting the U.S. financially. The forms of bribery and embezzlementRead MoreEssay about The Invincible Criminal1400 Words   |  6 PagesCriminal Justice Commission estimated that the annual cost of white-collar crime is between $130 billion and $472 billion, seven to twenty-five times greater than the cost of conventional or street crime (Conklin, 2010, P. 71). White-collar crime in America is considered larceny committed by the wealthy, respected, and legitimate enterprise which is not set up or intended to go out of business like an ordinary fraud or con game. White-collar crime offenses may involve forgery, embezzlement, or fraud involvingRead MorePrisoners Rights954 Words   |  4 PagesSociety Tiffany Horvath SOC 305: Crime and Society Instructor: Efua Akoma October 28, 2013 If you asked 100 random people to describe a criminal, they would describe someone uneducated, in and out of the justice system, a minority or just a basic street criminal. â€Å"National surveys suggest that when Americans think about crime, they see the face of a black jobless high-school dropout from a broken home† (Society, 2013). â€Å"Federal researchers found, for example, that many prisonersRead MoreStreet Crime And White Collar Crimes766 Words   |  4 PagesAs society grow more and more the economic crimes goes up as well. Either it’s the street crimes or the white-collar crimes/corporate crimes but which of is a wide spread crime. Street crime and white-collar crimes affect the people negatively. You would be hurting yourself and others. Even though, street crimes are more violent then the white-collar. White collar effect you devastating you finacially and emotionally. Street crimes are more generally physical effect. White-collar crimes have finan cialRead MoreWhite Collar Crime And Criminal Behavior1534 Words   |  7 Pagesthe causations of crime and those at risk of criminal behaviour. White collar crime is a term founded less than a century ago within 1939 by Edwin Sutherland. He identified white collar crime as crime committed by a person of respectability and high social status in the course of his occupation (Hirschi, 1987, pg 953). Sutherland strived to explain all types of crimes. He proposed that crime occurred beyond the streets, within the business and politic realm. White collar crimes differ heavily fromRead MoreEssay about White Collar Crime vs. Street Crime665 Words   |  3 PagesWhite Collar Crime vs. Street Crime One problem that plagues our society is crime. Crime is all around us in our everyday lives. Daily we hear of murders, robberies, and rapes. These are categorized as street crimes. For many people, such crimes are the only tragic crimes, the ones that are senseless and preventable. In Finsterbuschs book, Taking Sides, another variety of crime is exposed. This other form of crime is white collar crime. Both have victims, and the effects of bothRead MoreWhite Collar Street Crime Essay1198 Words   |  5 PagesWhite-Collar Crime or Street Crime: Which is More Costly to Society? What is crime? Merriam-Webster defines crime as â€Å"an act or the commission of an act that is forbidden or the omission of a duty that is commanded by a public law and that makes the offender liable to punishment by that law† (Merriam-Webster). There are many types of crime but the two this paper will focus on are street crime and white- collar crime. There is no definitive definition of street crime, but it is generallyRead More‘A Peacemaking Approach To Criminology’ Was Written By1503 Words   |  7 Pagespromoting a humane way of handling crime and deviants. The book proposes a peaceable way of dealing with offenders in a manner that accords respect to human rights. Further, Gesualdi notes that the criminal justice system is concentrated on inflicting harm on the offenders by punishing them. He argues that the system is fixated on the notion of reacting to crime rather than prevention. Hence, the book proposes an approach where restorative justice a nd prevention of crime can be accommodated in the criminalRead MoreThe Ford, Firestone, And The Financial Corporations On Wall Street1706 Words   |  7 PagesPBS documentary and the TIME article, describe how the behaviors of corporations, such as Ford, Firestone, and the financial institutions on Wall Street, could or should be understood as crime whether or not they have been prosecuted? How do these activities differ from those involved in â€Å"typical† street crimes? I believe that the behaviors of the Ford, Firestone, and the financial corporations on Wall Street were considered criminal behaviors. There was sufficient evidence against these corporationsRead MoreWhite Collar Crime And Corporate Crime1158 Words   |  5 PagesWhite-Collar Crime consists of occupational crime and corporate crime. Occupational crime refers to offences committed against legitimate institutions businesses or government by those with respectable social status. It includes the embezzlement of corporate funds, tax evasion, computer crime and expense-account fraud. It is not every day that we hear about white-collar crimes but these non-violent crimes are on the rise to the top. Federal Bureau of Investigation states that USA, for example recorded

Crazy Eddie Case - 1455 Words

crazy eddiCase 1.8 Crazy Eddie, Inc. Term A2/Spring 2013 March 19, 2013 Table of Contents Issues†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...3 Facts†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.4 Analysis and Conclusions†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.6 Conclusions†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.9 Issues 1. Compute key ratios and other financial measures for Crazy Eddie during the period 1984-1987. Identify and briefly explain the red flags in Crazy Eddie’s financial statements that suggested the firm possess a higher-than-normal level of audit risk. 2. Identify specific audit procedures that might have led to the detection of the following accounting irregularities perpetrated by Crazy Eddie personnel: (a) the falsification of inventory count sheets,†¦show more content†¦| | Assets | 36,569 | 65,528 | 126,950 | 294,858 | Margin | 27% | 48% | 48% | 84% | | | | | | Selling General and Administrative Expense | 22,560 | 20,508 | 42,975 | 61,341 | Margin | 16% | 15% | 16% | 17% | | | | | | Income before Taxes | 7,975 | 13,163 | 27,312 | 21,097 | Margin | 6% | 10% | 10% | 6% | | | | | | Property plant and Equipment | 1,845 | 3,696 | 7,172 | 26,401 | Margin | 1% | 3% | 3% | 7% | | | | | | Long-term Debt | | | | 80,975 | Margin | | | | 59% | | | | | | Equity | 6,224 | 23,861 | 42,621 | 93,260 | Margin | 5% | 18% | 16% | 26% | | | | | | Net Operating Cash flow | 28,095 | 12,390 | 24,922 | 18,927 | Margin | 20% | 9% | 10% | 5% | | | | | | Net Income (Cash flow) | 3,773 | 5,829 | 13,244 | 10,596 | Margin | 3% | 4% | 5% | 3% | | 1984 | 1985 | 1986 | 1987 | Debt to Equity | 0.00% | 0.00% | 0.00% | 86.80% | Operating Profit Margin | 20% | 9% | 10% | 5% | Equity /Total Assets | 17%Show MoreRelatedcrazy Eddie fraud case1875 Words   |  8 Pagesï » ¿Crazy Eddie, Inc. financial fraud case Crazy Eddie was an American retail store chain run by the Antar family, which was established as a private company in 1969 in Brooklyn, New York by businessmen Eddie and Sam M. Antar. The fraud at Crazy Eddie was one of the longest running in modern times, lasting from 1969 to 1987. Crazy Eddie became a known symbol for corporate fraud in its time, but has since been eclipsed by the Enron, Worldcom and Bernie Madoff accounting scandals. Commencement of fraudRead MoreThe Case Study Analyzes Crazy Eddie2010 Words   |  9 PagesThe case study analyzes Crazy Eddie. Crazy Eddie was convicted of white collar crime through fraud triangle. Crazy Eddie involved in fraud through incentives, opportunity and rationalization. Crazy Eddie reported lacking rationalization but confirmed that incentives and opportunity were working. The company also reported lacking morality and excuses. Crazy Eddie executed its business without taking into account moral implications of doing business. Crazy Eddie illegally adjusted returns to avoidRead MoreCrazy Eddie Case1147 Words   |  5 PagesKatherine Bokovsky Wai Shan Leung Auditing – Crazy Eddie Case The main critical issue in the Crazy Eddie case is the incompetence and lack of professional skepticism of the company’s audit team and their inability to successfully comply with the standards of GAAS. The auditors failed to exercise the fundamentals of the substantive audit plan which would have uncovered at least some of the fraud. Furthermore, this inability and lack of knowledge on how to properly execute an audit threatenedRead MoreCase 1.8 Crazy Eddie1074 Words   |  5 PagesCrazy Eddie, Inc. Question 1 Key ratios and other financial measures: |Pro Forma Balance Sheet Ratio |1984 |1985 |1986 |1987 | | |Account Receivable |7.12% |4.18% |1.77% |3.68% | | |Merchandise Inventories |63.83% |40.51% |47.16% |36.99% | | |Account Payable Read MoreCrazy Eddie Case Analysis Essay722 Words   |  3 PagesIn Crazy Eddie Case, a former CPA, Sam E. Antar, was a key individual who helped Eddie Antar mastermind one of the largest securities frauds uncovered during the 1980s. Sam admitted that he had no empathy whatsoever for investors because he never concerned about morality or the suffering of those victims. Next I’ll analysis Crazy Eddie Case from ethical perspective and use Ethical Decision Making Model to evaluate Sam’s possible behaviors. 1. Frame the ethical issue: Should Sam join his cousinRead MoreThe Public Perception Of A Company1994 Words   |  8 PagesMany cases of fraud begin when there is an image to keep up. The public perception of a company is important, especially when said company is publicly traded. When something within the company goes wrong, and the good image is threatened, that is often when the fraud comes into play. They attempt to cover up the problem by inflating revenues, evading taxes, or showing misleading information on their financial statements. Although Crazy Eddie, an electronic retail business in the 70-80’s, did employRead MoreGeneral Information Essay2156 Words   |  9 PagesACC 476/726 – Auditing Discussion Case Questions Fall 2004 General Information The audit discussion cases are real-world examples of problems that auditors face in practice. Each individual case is brief, and every member of the class should read the case prior to class and come prepared to participate in class discussion. Instead of the questions in the casebook, we will discuss specific issues related to the topic currently being discussed in class. The questions can usually be answeredRead MoreCrazy Eddie, Inc1040 Words   |  5 Pages2009 Crazy Eddie, Inc. Crazy Eddie Inc. was a retail consumer electronics store in New York City. By 1987, Crazy Eddie Inc. had 43 retail outlets, sales exceeding $350million, and outstanding stock with a collective market value of $600 million. Doubling in the four-year period from 1981 to 1984, sales in the consumer electronics industry exploded. Eddie Antar, the owner of the Crazy Eddie, Inc. converted his stores into consumer electronics supermarkets. Antar stocked the shelves of Crazy EddiesRead More1.8 Crazy Eddie, Inc. Essay1381 Words   |  6 Pages1) The following table provides key financial ratios for Crazy Eddie during the period 1984-1987: | |1987 |1986 |1985 |1984 | |Current Ratio |2.41 |1.4 |1.56 |0.93 | |Quick Ratio |1.4 |0.6 |0.77 |0.15 | |Debt Ratio |0.68 |0.66 |0.64 |0.83 | |Debt-to-Equity |2.16 Read More10 key ratio1411 Words   |  6 Pagesattestation services for banking, insurance, and other regulated industries would be discrediting the profession if they used restricted clauses in engagement letters. Crazy Eddie 1. Compute key ratios and other financial measures for Crazy Eddie during the period 1984-1987. Identify and briefly explain the red flags in Crazy Eddie s financial statements that suggested the firm posted a higher-than-normal level of audit risk. Current Ratio (1987-84): 2.41, 1.40, 1.56, 0.93 Quick Ratio (1987-84):

Skills And Technologies That Are Involved †Myassignmenthelp.Com

Question: Discuss About The Skills And Technologies That Are Involved? Answer: The application of various types of skills and technologies that are involved for the project activities and also would help in meeting the requirement that are set at the start of the project (Kerzner, 2013). The methods that are involved in the management of the project and aides in the procedures are known as the project management methodologies (Joslin Muller, 2015). It is the systematic, theoretical and the logical methods that are applied in the field of study for the analysis of the methods that are applied for the knowledge on the project and also it is used for the guidance to the procedures of the project. The project management methodologies play a very vital role for the assistance in the project management techniques. There are various types of project methodologies that are used for the project management techniques implemented by the project managers. The methodologies are applied according to the requirement of the project and also they vary in accordance with the situation. The various types of methodologies that are applied for the project management techniques are: The methodologies selected for the discussion in this paper are PMBOK and the PRINCE 2 methodologies. The PMBOK is the Project Management Book of Knowledge. This is a term which is exclusive and describes the knowledge that is present within the profession of project management. This method involves the use of the traditional procedures that are proven for the project management. They make use of all type of sources that involves both the published and the unpublished materials. In addition to this the PRINCE 2 methodology is also described in this paper. PRINCE 2 is the project in the controlled environment. It is a structured project management technique that is used for the certification and the accreditation of the different organization that are set to perform the project management techniques. The method involves the division of the project into a number of sub projects and this sub procedure puts the main emphasis on the controllable steps for the projects. The PMBOK and the PRINCE 2 methodologies have various types of advantages and disadvantages associated with them (Snyder, 2014). For the comparison of both the systems a table is provided below. Advantages The method is very useful for the goal related projects. This methodology provides the assistance for defining the goal for the project (Deshpandhe, Beecham Richardson, 2013). This method also helps in the fault tolerance of the project. The fault tolerance is a very important part for the project. This method also helps in the heavy projects. They help in dividing the projects into further sub divisions. Standardization is the biggest benefit of the method. The method also saves a huge amount of money for the project. The method is also for designing the Road Map of the project (Jamali Oveisi, 2016). The methodology also helps in the change control procedures for the projects. The method also helps in the project based planning methods. They help in defining the roles and the responsibilities of the personnel involved in the project. Disadvantages The methodologies are not suitable for the projects that are smaller in size. This method is not accepted by various project managers due the inefficiency in the method and the method is very hard to follow. This method provides no assistances in making the requirements clear upfront. These methodologies cannot be used in the smaller projects and also are not the accepted readily by the project managers of the smaller projects. The methodologies also use the principle based project management techniques. But all the principles for the methods do not suit the project management technique and hence the approach might be rejected. The system is not recognized in various countries and hence, is rejected as a model for the development of their project. The project life cycle involves various types of processes such as project initiation, project planning, project implementation, project analysis and the project maintenance. The PMBOK and the PRINCE 2 methods also involve these procedures in the model and hence they are related efficiently to the project life cycle. They contain the project initiation, project closure and the project controlling and the project managing techniques. Although, they involve steps of dividing the project but they posses all the steps involved with the project life cycle. Hence, these methods can very easily relate to the project life cycle. References Deshpande, S., Beecham, S., Richardson, I. (2013, August). Using the pmbok guide to frame gsd coordination strategies. In Global Software Engineering (ICGSE), 2013 IEEE 8th International Conference on (pp. 188-196). IEEE. Jamali, G., Oveisi, M. (2016). A Study on Project Management Based on PMBOK and PRINCE2. Modern Applied Science, 10(6), 142. Joslin, R., Mller, R. (2015). Relationships between a project management methodology and project success in different project governance contexts. International Journal of Project Management, 33(6), 1377-1392. Kerzner, H. (2013). Project management: a systems approach to planning, scheduling, and controlling. John Wiley Sons. Snyder, C. S. (2014). A Guide to the Project Management Body of Knowledge: PMBOK () Guide. Project Management Institute.