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Bank of Gould Analysis

Bank of Gould Analysis. IIIG Consulting Co. Armita Amini Alex Brown Abigail Garcia Sergey Kogan Arsen Sarkisyan Arpineh Vartanian. Rules. Please hold all questions until the end of the presentation. Turn off cell phones and other devices.

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Bank of Gould Analysis

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  1. Bank of Gould Analysis IIIG Consulting Co. Armita Amini Alex Brown Abigail Garcia Sergey Kogan Arsen Sarkisyan Arpineh Vartanian

  2. Rules • Please hold all questions until the end of the presentation. • Turn off cell phones and other devices. • Raise your hand if you cannot hear the speaker.

  3. Outline • Facts: Armita Amini • Legalanalysis: Serge Kogan • Accountinganalysis: Alex Brown and Arsen Sarkisyan • Ethicalanalysis: Abigial Garcia • Reccomendation: Arpineh Vartanian

  4. Facts WHY?

  5. Facts cont.

  6. Legal AnalysisDuty of Care

  7. Legal Analysis Foreseeability Test

  8. Legal AnalysisRestatement View Do I owe a duty of care to the third parties being influenced by my work?

  9. Legal AnalysisPrivity of Contract I’ve emailed the teacher so he can further explain this to me but he hasn’t Emailed me back yet… if he doesn’t I’m going to cut this one out.

  10. Legal Analysis Cont.

  11. Income Statement That’s a difference of $2535129.26!!

  12. Using Accounting To Fight Crime

  13. Accounting AnalysisEarnings Per Share

  14. Accounting Analysis Gross Profit Margin

  15. Accounting AnalysisReturn On Sales

  16. Accounting AnalysisNet Profit Margin

  17. ETHICAL ANALYSIS

  18. Who had to deal with ethics? HAYDEN FOOTE RICO PENA ELIZABETH GUTIERREZ

  19. HAYDEN FOOTE

  20. Were his actions ethical? AICPA CODE OF PROFESSIONAL CONDUCT SECTION 501-4 Ifa member signs a document that contains any false information he/she is considered to have committed a discreditable act and therefore has breached the code.

  21. RICO PENA

  22. Were his actions ethical? AICPA CODE OF PROFESSIONAL CONDUCT SECTION 53 - ARTICLE II THE PUBLIC INTEREST All CPA’s have a responsibility to serve the public, which includes the client and investors. Rico breached this code by falsifying the statements. CATEGORICAL IMPERATIVE TEST If everyone took the same action then no financial statement would be trusted and the whole financial system would not be able to grow if no one trusts the business’ financial statements.

  23. ELIZABETHGUTIERREZ

  24. Were her actions ethical? Utilitarian Theory She was aware that Rico didn’t do it in accordance with GAAP and didn’t tell someone in a higher position. The knowledge of the falsity of the statement would have done the greatest good to the greatest number of people. The victims are the Bank of Gould, Young and Brobeck, Sensor Circuits and their employees and investors.

  25. Recommendations • Our recommendation is to proceed with litigation against the accounting firm of Young & Brobeck, LLP on the basis of negligence. • Legally: • Accounting data shows.. • Ethically we find that…

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