ETHICS AND FINANCIAL SERVICES Essay Example | Topics and Well Written Essays - 1250 words

ETHICS AND FINANCIAL SERVICES - Essay Example During this era, some of its techniques were quite confusing and blatant. The company had excluded some of its expenses from its financial book. The case highlights various red flags such as an extreme growth-oriented management team and growing need for extra capital. With this, the auditors allowed themselves to be misled and missed the red flags that could have alerted them to dig and analyse their analysis more deeply. During the era 1990-1994, the company was involved in a fraud scheme whereby Gottlieb and Drabinsky received $7, 000, 000 directly or through the company owned by Gottlieb. Approximately $ 4, 000, 000 of the total amount was capitalized as the pre-production costs. Gottlieb and Drabinsky operated a kickback scheme with Livent vendors and took the mentioned amount from the company and took into their own pocket. To fully convince the company of the transaction, Gottlieb instructed the two vendors to present an invoice that could not expose their deal. After Livent agreeing to the deal, Gottlieb and Drabinsky received the payment for bogus services. In the mid 1990s, it became difficult for the company to attain its financial goals. Gottlieb and Drabinsky enjoyed their financial gain, and in turn, the company had to bear the loss. It became difficult for the company to raise additional capital to sustain its operation. Further, Gottlieb and Drabinsky manipulated the company by directi ng Livent’s accounting staff to obscure the company’s financial crisis. Some of the manipulations included erasing the accounting records that recorded the liabilities and expenses of the company at the end of each year. The Livent’s accounting staff engaged into an accounting scam of transferring the preproduction costs of existing show to shows that was in production. This transfer manipulated the company to comprehend the cost of the major items used in production. To reduce the costs of

Questions Assignment Example | Topics and Well Written Essays - 500 words - 4

Questions - Assignment Example Some of the differences between mitosis include but not limited to, mitotic cells divide once whereas meiotic cells divide twice. Mitosis results in cell replication as for meiosis, genetic recombination and production of reproductive cells being the sole aim. Mitosis doesn’t yield exact copies whereas meiosis does. Mitosis also gives rise to diploid cells while meiosis gives haploid cells. DNA crossover occurs only in meiosis (Armstrong, 2007). As for similarities, duplication of an organism’s genome takes place only once preceding any other duplication in both processes. There is the existence of metaphase plates, centrioles in both (Armstrong, 2007). Basic steps of division are the same for both. Mitosis and meiosis occurs both in eukaryotic cells. Finally, both represent reproduction processes. A wild population contains tall and short plants. In one cross, two parental tall plants yield all tall progeny. In another experiment, two short plants are crossed and all progeny are short (cross 2). In the third experiment (cross number 3), two different short plants from cross 2 are crossed and 23 tall progeny and 77 short progeny are observed. The F1 generation came about through selfing of F1 plants. While maintaining Mendel’s first law, law of segregation, where the gamete is formed when each member of the allelic get disjointed from their other member. Confirmation of accuracy of his law through selfing of F2 plants yielded all tall and short plants respectively (Tornqvist, 2006). This can be depicted using a Punnet square as depicted on the next