Swot Analysis Of Sattyam
Ironically, Satyam means “truth” in the ancient Indian language “Sanskrit”. In September 2008, the World Council for Corporate Governance awarded Satyam with the ‘Global Peacock Award’ for global excellence in corporate accountability”. From being India’s IT “crown jewel” and the country’s “fourth largest” company with high-profile customers, the outsourcing firm Satyam Computers has become embroiled in the nation’s biggest corporate scam in living memory. Unfortunately, less than five months after winning the Global Peacock Award, Satyam became the centerpiece of a massive accounting fraud. Mr. B. Ramalinga Raju (Chairman of Satyam) had been cooking up the books of accounts of Satyam quietly from 2001 to 2008. Mr. Raju overstated assets on …show more content…
Furthermore, as the promoters held a very small percentage of equity (mere 2.18%) on December 2008, the concern was that poor performance would result in a takeover bid, thereby exposing the gap. The aborted Maytas (another real-estate investment firm) acquisition deal was the final, desperate effort to cover up the accounting fraud by bringing in some real assets into the business. When that failed, Raju confessed the fraud. Given the stake the Raju’s held in Matyas, pursuing the deal would not have been terribly difficult from the perspective of the Raju family. Satyam was brought to its knee due to tunneling. The company with a huge cash pile, with promoters still controlling it with a small per cent of shares (less than 3%), and trying to absorb a real-estate company in which they have a majority stake is a deadly combination pointing prima facie to tunneling. The reason why Ramalinga Raju claims that he did it was because every year he was fudging revenue figures and since expenditure figures could not be fudged so easily, the gap between actual profit and book profit got widened every year. In order to close this gap, he had to buy Maytas Infrastructure and Maytas Properties. In this way, fictitious profits could be absorbed through a ‘self-dealing’
Mickey Monus
742 Words | 3 PagesTwo days later, the Phar-Mor board confronted him with two books that had been found. The board had found that one of the books had largely inflated profits. This revealed that with the board, banks, and investors deceived, Monus was able to pull in more pay and sell stock at inflated prices to keep everything afloat. “To cover up the continuing losses, Pat Finn was now faxing falsified financial reports to the board of directors and to David Shapira every week. But in November of 1990, a secretary mistakenly faxed a report with the real numbers to Shapira.
Nurofen Specific Pain Case
563 Words | 3 PagesRelevant Facts: Nurofen, the pain-relief medication is made by Reckitt Benckiser Australia, a multinational company. The company was found misleading customers for all its specific range that contained the same active ingredient ibuprofen lysine 342mg and was seen to have same effect. The product was advertised the products as been targeting back pain, period pain and tension headaches. The Company was fined $1.7m for misleading customers on range of ‘specific pain’ relief contravening Australian Consumer Law has been brought forward by ACCC. The ACCC had asked federal court to impose $6 million fine.
How Did The Gilded Age Affect The Economy During The Gilded Age
467 Words | 2 PagesThe business world wasn’t the only thing corrupt but the railroads were too. With the railroad industry growing the companies knew they could charge huge rate and gain a large profit. Congressmen were paid off to be quite about the scandal and kept it to themselves. The railroads raised the stocks and were given to well-liked companies.
Andrew Carnegie's Laissez-Faire: Robber Barons
744 Words | 3 PagesOne example of this unethical way of business, was his way of acquiring “Allegheny Steel Company.” The company was beginning to become quite the competitor, using a new method that allowed the efficient, and effective production of steel. The company’s new method was so successful, they were able to undercut Carnegie’s own prices. However, Carnegie began spreading false rumors of the steel being manufactured by Allegheny Steel Company, implying it was ineffective, spreading alarm to their buyers. He was able to hurt their company and take the the reins.
What Is Leslie Fay Accounting Fraud
709 Words | 3 PagesFred Pomerantz, a war veteran was a very proud and successful man, founded Leslie Fay. Leslie Fay was a women’s clothing store located in the heart of Manhattan’s business clothing district. In addition, Leslie Fay focused on stylishly conservative dresses for women in the 30 to 55--age bracket. In the late 1980s, Leslie Fay was the largest supplier of women’s dresses to department stores.
Income Smoothing Case Study
1491 Words | 6 PagesAnother pressure presented in this case for Cendant Corporation was that for the top management once again. The top management needed to have their financial information seem profitable, therefore pressured the accountant of the company to falsify and “cook the books” to make the financial statements seem actually “profitable” when it wasn’t what It really was. As said in the previous question, income smoothing was used in this case by Cendant Corporation as an unethical practice to make the investors believe that their shares were all bright
Swot Analysis Gainesville
194 Words | 1 PagesOaks Mall in Gainesville, Florida, which is in northern Florida. The largest city in Alachua County, Gainesville is the largest growing populated city in Florida. Oaks Mall 's anchor stores include Belk, Sears, JCPenney, and Macy 's, and opened in 1978. Whether you 're done getting all that fun shopping done, or you just want to head to a nearby restaurant, you can hop over to Crafty Bastards Restaurant and Pub! Sometimes the old adage "when in Rome" is just so applicable.
Lehman Brothers: Financial Fraud In 2008
2178 Words | 9 PagesExecutive Summary Lehman Brothers were an investment bank involved in transactions worth billions of dollars and one of the most powerful investment banks in the world. Lehman Brothers collapsed in 2008 following bad investment in the sub-prime mortgage market and used bad accounting practices called Repo 105 transactions to try and cover up the bad assets. This report sets out the use of the fraud triangle when describing the actions which led to the collapse. The pressure applied on the bank, the opportunity due to the lack of regulation to carry out the actions and the ability of the bank to rationalise their decision making.
Swot Analysis Paper
964 Words | 4 PagesSWOT Analysis Before we implemented our opioid addiction and rehabilitation service, it was important for us to examine what obstacles we might face and need to overcome as well as what we might be able use in our favor to help with our service. We performed a SWOT analysis to help identify the external opportunities and threats that were present as well as our internal strengths and weaknesses so that we might more efficiently jumpstart our service. External SWOT Analysis
Saic Swot Analysis Paper
423 Words | 2 PagesDr. J.R. Bester founder of Science Applications International Corporation (SAIC) is headquartered in McLean, Virginia and employ 40,000 people in 2013. This Aerospace and Defense industry offer products and services in the system integration, technical services and solution and scientific engineering. SAIC strengths are their loyalty they have from their clients by proving their customers with innovative merchandise that put the company ahead of others in their industry, with management marketing teams improving services through services and merchandises increasing company growth. The distributors that the support the company provides the company supplies are better than their competition (A, 2012).
Ethical Issues In Waste Management
1009 Words | 5 PagesThe false accounting records were unethical because it means management was enriching themselves. They were getting earnings based on the false availability of funds. They also did this to keep their jobs. When a company is not performing financially well the top positions are the ones usually at risk of being retrenched, as a result of implying the company was financially stable they were protecting their jobs. False accounting also results in duping investors that trust the financial records of the company.
Tesco Accounting Report
1656 Words | 7 PagesIntroduction The main objective of the paper is to develop a report for a shareholder that will interpret financial statements of Tesco Plc. for 2013-2014. The shareholder is specifically concerned about the fraudulent reporting. In this way, the paper will explain the reason of income statement and statement of financial position.
The Worldcom Fraud Case
2107 Words | 9 PagesBackground WorldCom, once known as one of the most powerful telecommunication organizations of the world, is now studied as a case of a fraudulent company that carried out unethical financial activities to cover its weakening position in the market. After some aggressive investment decisions, the company started to witness huge financial pressure. The management used various forged accounting entries to conceal its weakening position. Cynthia Cooper, Vice President Internal Audit, discovered the unethical activities and raised the issue with the management and relevant departments and received bitter responses. She carried out internal audits in her own capacity with her colleagues and compiled evidence against fraudulent activities.
Internalization Strategy Of Lenovo
1643 Words | 7 Pages1.1 Background of the case The chosen company is Lenovo Group Limited which is a multinational technology company that is headquartered in Beijing, China. Established in 1988, Lenovo is the largest information technology enterprise in China, engaged primarily in the sale and manufacturing of personal computers, mobile telephone handsets, computer servers and printers, in China. It has been the market leader for seven consecutive years, commanding a 27 per cent share of the domestic PC market in 2003. It is also the market leader in the Asia Pacific region (excluding Japan), with a market share of 12.6 per cent in 2003.
Student Swot Analysis
500 Words | 2 PagesStrengths: As a student one of my strengths is organization. I can say I can keep my school materials and notebooks organized in a way that I and others can comprehend. The reason I can say I am organized is because, I have hardly ever had in the past or present any issues with trying to find homework or assignments because I always kept my materials for each class organized and in a place I could easily find. Another strength I have is social skills. I can believe that I communicate with others well in a group.
More about Swot Analysis Of Sattyam
Mickey Monus
742 Words | 3 PagesNurofen Specific Pain Case
563 Words | 3 PagesHow Did The Gilded Age Affect The Economy During The Gilded Age
467 Words | 2 PagesAndrew Carnegie's Laissez-Faire: Robber Barons
744 Words | 3 PagesWhat Is Leslie Fay Accounting Fraud
709 Words | 3 PagesIncome Smoothing Case Study
1491 Words | 6 PagesSwot Analysis Gainesville
194 Words | 1 PagesLehman Brothers: Financial Fraud In 2008
2178 Words | 9 PagesSwot Analysis Paper
964 Words | 4 PagesSaic Swot Analysis Paper
423 Words | 2 PagesEthical Issues In Waste Management
1009 Words | 5 PagesTesco Accounting Report
1656 Words | 7 PagesThe Worldcom Fraud Case
2107 Words | 9 PagesInternalization Strategy Of Lenovo
1643 Words | 7 PagesStudent Swot Analysis
500 Words | 2 Pages