Financial Shenanigans by Howard Schilit Financial Shenanigans was written by Howard Schilit. The main objective of the book is to show ways companies can alter their financial accounting reports to reflect a much attractive appearance of their company’s health and growth when indeed that company is running into severe trouble. There are different ways the company can accomplish this and the author gives us “Seven Shenanigans” that companies can change the investor’s point of view towards the performance of the company. Basically, he breaks up each chapter to the particular shenanigan and discusses different techniques for achieving each shenanigan. For example, the author used Priceline.com, Cendant/CUC, AOL, and Xerox to illustrate each shenanigan. Chapter 11 and 12 of the book discusses the analyzing of financial reports and how to use financial databases to discover warning signs. Then there is another chapter on finding shenanigans in the company’s annual 10K report and how to find hints for financial shenanigans. Financial shenanigan could be defined as actions that purposely distort a company’s financial condition and performance. The Seven Shenanigans are: 1. Recording revenue too soon. 2. Recording bogus revenue. 3. Boosting Income with one time gains. 4. Shifting current expenses to a later or earlier period. 5. Failing to disclose liabilities. 6. Shifting current income to a later period. 7. Shifting future expenses into the current period.
Robertson Davies’ colourful novel “Fifth Business” outlines and describes the development of a lost and emotionally void man, Dunstan Ramsay. This is a man who carries the weight of Paul Dempsters premature birth on his shoulders his entire life. It portrays his quest for self knowledge, happiness, and ultimately fulfilling his role as ‘Fifth Business.’ This would not have accomplished without Liesl, an extremely graceful and intelligent woman imprisoned inside a deformed and gargantuan body. Liesl plays a vital role in Dunstan’s development and psychological rebirth, as she helps him rediscover his body, his emotions, and himself.
family and force's Paul to leave the town and create a new image for himself.
Fifth Business by Robertson Davies In the essay Fifth Business, each of the main character traits is developed more and more clearly throughout their lives. Childhood characteristics are evident in the characters of Dustan Ramsay, Percy Boyd Stauton and Paul Dempster. All paranoia, and memories of the town of Deptford resurfaced in each of them after they all had left to start lives on their own. It was childhood that scared or marked them as people and the fact that parents often have influence on children so, there is no question that these characters were definitely influenced by the parents in Deptford.
The novel Fifth Business, by Robertson Davies, is the first installment of Roberson Davies’ Deptford Trilogy. The novel is a memoir of Robertson Davies’ fictional character, Dunstan Ramsay, in the form of a letter to the school’s headmaster. Dunstan speaks of his childhood, being involved with the town fool, Mary Dempster, and his evolving interest in hieroglyphics. Fifth Business has been ranked 40th on the American Modern Library’s “reader’s list” of the 100 best novels of the 20th century.
Tobias Wolff's short story, "The Rich Brother", is a parallel story to the biblical fable of Able and Cain. The biblical story of Able and Cain is that of the first story that puts man against man. Cain and Able are children of Adam and Eve, where Cain is the eldest and Able the younger of the two. In the biblical story Cain and Able end up giving gifts (sacrifices) to appease to their God. This in turn, creates tension between the two because Able's sacrifice of the lamb is much favored by God than is Cain's offering of his crops. Cain becomes outraged because he believes that Able has purposely tried to embarrass him, ultimately, leading Cain to become so enraged that he ends up murdering his only brother in cold blood. Throughout, 'The Rich Brother', Wolff portrays Peter as Cain because he shows a lack of devotion to God, creates a rival ship with his brother, and climatically abandons his only brother Donald.
The short story, "The Rich Brother," by Tobias Wolff represents the same concept that everyday people all over the world encounter. This portrays how having siblings can be an enormous part of a persons life. The rivalry between siblings is often very competitive, but at the same time similar to magnets. When they are not connected it may seem they are independent and whole, but when examined closely it is obvious they are really relying on each other to function properly. Although Pete and Donald's life are separate and completely different, they are in fact very dependent on each other.
On January 19, 2016, Julie Delahanty published an article called “Billionaires on the Bus: Income Inequality and the Future of Poverty”. Julie Delahanty is an executive director of Oxfam Canada. The article is based on the Oxfam Briefing Paper, titled “the Richest 62 people as An Economy for the 1%”. The article explains that inequality is an important crisis that needs to be addressed, as it promotes cohesion and growth in all facets of the population and economy.
The Millionaire Next Door written by William Danko and Thomas J. Stanley illustrates the misconception of high luxury spenders in wealthy neighborhoods are considered wealthy. This clarifies that American’s who drive expensive cars, and live in lavish homes are not millionaires and financially independent. The authors show the typical millionaire are one that is frugal, and disciplined. Their cars are used, and their suits were purchased at a discount. As we read the book from cover to cover are misconceptions start to fade. The typical millionaire is very frugal in all endeavors and finds the best discounts possible. A budget is implemented daily, monthly, and annually for a typical millionaire. They live by the budget and are goal oriented. Living well below their means is crucial for a millionaire, and discovering ways to allocate time and money more efficiently. The typical millionaire next door is different than the majority of America presumes. Let’s first off mention what it is not. The typical millionaire is surprisingly not the individual with the lavish house worth a million dollars, owning multiple expensive cars, a boat, expensive clothes, and ultimately living lavishly. The individual is frugal and often looks for discounts for consumable goods. The book illustrates the typical millionaire in one simple word: frugal. It is shocking to believe that this is true, but it does make sense. To achieve financial independence is inherently more satisfying and important than accumulating wealth. According to the book the majority of these millionaires portray characteristics of being sacrificial, disciplined, persistent and frugal. In the book it states, “Being frugal is the cornerstone of wealth-building. Yet far too often th...
Have you ever been swindled before? In the book that I have just finished Swindle by Gordan Korman, two sixth grade boys Griffin and Ben have had a valuable collectors Baseball card swindled from them. They have put together a second plan to try and steal it back, fair and square. They assemble a team, and pull off a professional heist and steal the card back from Mr. Palomino. But they don’t get away with it, evidence left at the crime scene leads back to the kids. This would have put the kids in jeopardy, but everything worked out because the baseball card actually belonged to an old lady, and Mr. Palomino does not press charges against the boys because he doesn’t want people to know that he swindled them in the first place. Most of the money gets donated to a museum, and the kids get a plaque with their
In order to make a book that the reader will be able to follow and make it compelling to them as well, one needs to include a variety of different elements. The third born, an excerpt from the novel How to Get Filthy Rich in Rising Asia written by Moshin Hamid follows a young boy and his family from life in an improvised village to life in the “glamorous” city, done effortlessly through including the theme; the order of birth. In addition, to portray the hardship of this story and set the wearisome tone experienced throughout the excerpt, Hamid uses conflict. Which is portrayed through visions of money, life and death, health and externally and internally.
Jeffrey Reiman, author of The Rich Get Richer and the Poor Get Prison, first published his book in 1979; it is now in its sixth edition, and he has continued to revise it as he keeps up on criminal justice statistics and other trends in the system. Reiman originally wrote his book after teaching for seven years at the School of Justice (formerly the Center for the Administration of Justice), which is a multidisciplinary, criminal justice education program at American University in Washington, D.C. He drew heavily from what he had learned from his colleagues at that university. Reiman is the William Fraser McDowell Professor of Philosophy at American University, where he has taught since 1970. He has written numerous books on political philosophy, criminology, and sociology.
Leinweber, D. J., & Madhava, A. N. (2001). Three hundred years of stock market manipulation. The Journal of Investing, 7-16.
Information on the financial statement can offer an overview of a company’s performance over the past fiscal year. However, gaining crucial investment insights requires financial manipulation that yields financial ratios.
A problem America is experiencing is the economic growth, it is a problem because the wealth growth is only affecting the rich. It is as simple as this, the rich are getting richer and the poor are getting poorer. Robert Reich points this out in his text, Why the Rich Are Getting Richer and the Poor, Poorer. This has been a problem recurring since the industrial revolution, because of the labor groups being stuck in that position. Also, the mergers, and lawyers cycle around their money through lawsuits, and takeovers. Reich uses metaphors in his text about the fall of economy, and he uses boats. There are three boats that are being represented by different economic standing. The reason why Americans are having such troubling economic standings
Sandberg, J., Solomon, D., & Blumenstein, R. (2002, June 27). Accounting Spot-Check Unearthed A Scandal in WorldCom's Books. Retrieved from The Wall Street Journal: http://online.wsj.com/article/SB102512901721030520.html