Success Story Of One Success - 2912 Words

Introduction Success story, one success for me was last year I finally turned 16 and got my license and that meant I could finally get a job. Getting the job was really easy only because my mom hired me to work for her. My mom owns a logistics company and she told me that really needs help at work because she understaffed which means she needed help with emailing some of her clients. At my job I sit at a desk and answer phone calls from people that are trying to get ahold of my mom. So it sounds like i m an assistant which I guess I am but I still take my job serious and it’s not that easy of a job at first I had to realize that some of the people that I am talking to don t speak english very well so I have to put things in simple terms especially talking on the phone with people from different countries. At my job I work Tuesday, Wednesday, and Friday which doesn’t seem a lot but I work from 1:40 till around 5 5:30 which isn’t that bad I like working where I do and I like working with people I do. That didn’t really explain my success so I will tell you what success I have had after working for my mom. After saving up for about a year I bought my first car. I bought a 2001 Jeep Grand Cherokee Sport and i’m really proud of myself for buying this vehicle. It doesn’t seem like much but I pay for everything on the vehicle from the gas to putting oil in the vehicle. My parents didn’t want us kids on her insurance so I have to pay for that by myself and it’s kind ofShow MoreRelatedAleve981 Words   |  4 Pages2009 Resonant Communications | All rights reserved. The Aleve â€Å"arthritis pain relief† Success Story Taking a Different Approach By Kerry Doyle THE ALEV arthritis pain relief† SUCCESS STORY An In-Depth Look at Marketing Success Introduction—Taking a Different Approach THE ALEVE â€Å"arthritis pain relief† SUCCESS STORY [Year] 2009 The Aleve success story marked a significant shift in the general analgesic market. Prior to Bayer Pharmaceutical’s introduction of Aleve and its identificationRead MoreAnalysis Of The Book Outliers 1189 Words   |  5 Pagesclearly defined how the story of successful people is different in terms of their struggle, their success and their motivation. This book has even compared the success stories of some very successful personalities. There is difference between successful people and extremely successful people. The book has focused on extremely successful people. The books focuses on how difficult is to achieve success and what are the milestones that needs to be fulfilled to be a successful one. Being successful is notRead MoreThe Book Outliers The Story Of Success By Joe Flom851 Words   |  4 PagesThe story of Joe Flom incorporates many aspects of the first half of the book Outliers The Story of Success. Malcolm Gladwell uses comparisons of other families with simil arities of Flom’s story to demonstrate why he is successful. The story of Flom not only has what the previous chapters present but also some new concepts. At the beginning of the chapter Gladwell tells the reader about Flom’s success and then jumps backwards to explain how it occurred. He also explains why some people thrive whileRead MoreLiterary Works about Success788 Words   |  3 Pages In a world full of success gurus and books about success, it becomes ever so more important to describe the one quality that ultimately leads to success. This plague conquered the human minds and pushed us, till we came up with the ideas to sell â€Å"success guiding books† and making money which leads to successfulness. In the story, the house, in which Paul’s family lives in, is personified to be standing for more money: â€Å"And so the house came to be haunted by the unspoken phrase: ThereRead MoreLife Choices In Flowers For Algernon, By Ray Bradbury853 Words   |  4 Pageswe do or do not become will determine in lifes previous events. In all the short stories, the author puts in how the character feels and what there like. In the short stories of â€Å"Charles,† by Shirley Jackson, â€Å"Flowers For Algernon,† by Daniel Keyes, and â€Å"The Drummer Boy Of Shiloh,† by Ray Bradbury. To begin with, in the short story of â€Å"Flowers For Algernon,† by Daniel Keyes, life choices, importance, and success from the pass will effect the present. The life choices in an individuals life mightRead MoreEssay on Outliers: Out of the Ordinary1081 Words   |  5 PagesOutliers: The Story of Success, that the recipe for achievement is not simply based on personal talents or innate abilities alone. Gladwell offers the uncommon idea that outliers largely depend upon â€Å"extraordinary opportunities and cultural legacies† (Gladwell19). According to Gladwell, successful men and women are beneficiaries of relationships, occasions, places, and cultures. The author draws on a different case study in each chapter to support a particular argument concerning success. Despite hisRead More Money and Success, Who Wins Essay example964 Words   |  4 Pages nbsp;nbsp;nbsp;nbsp;nbsp;Great Expectations is the story of a young boy. He is quite poor, but as the tale moves on, he falls in love with a rich and spoiled girl. Despite her cruel ways, he devotes the rest of his life to winning her over. He aspires to become a gentleman with the aid of bundles of money that he inherits and sees this as the only way out of the common life he is leading. The boy connects success and happiness solely with money and possessions. Unfortunately, the associationRead MoreSuccess By Malcolm Gladwell1598 Words   |  7 Pagesmisconception that success simply arises from a combination of an individual s innate talent and drive to acquire success. However, in the book Outliers-The Story of Success by Malcolm Gladwell, Gladwell introduces a new and different perspective of the foundation of success, and proposes that other factors contribute to and can even determine the likelihood of someone succeeding. Aspects such as hidden advantages, upbringing, timing, and cultural legacies play a significant role in how well one will do inRead MoreMark Twain Emily Dickinson1045 Wor ds   |  5 Pagesfew of the many examples of writers that have originated in America. Mark Twain wrote Extracts from Adams Diary a playful short story of how man met woman. Emily Dickinsons Success is Counted Sweetest is a poem on how when one succeeds it brings joy into the effort that was put forth. 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Environmental Benefits Of Wind Energy Essay - 1216 Words

For years the United States has been one of the leading countries in greenhouse gas emissions. Wind energy has the potential to become the base of sustainable energy for America’s future. Although there are a few disadvantages to wind energy, the protection it offers along with the economical and environmental advantages provide many reasons to use more wind energy and less coal and fossil fuels in America. Wind energy can build a safeguard for the United States to protect us from outside adversity and harm. Increasing the number of wind turbines will help the country become less energy dependent. In 2015, the United States imported over 2.5 million barrels of crude oil from the Organization of Petroleum Exporting Countries alone (Wind Vision). Because this group is responsible for over two thirds of the country’s oil imports, This orginiation could sharply increase or decrease the price of oil in America by raising or lowering the price per barrel of crude oil. By introducing more wind energy into the United States we lower our dependence on other countries to provide us with the resources we need to create electricity. Along with the United States becoming less dependent on other countries, America would find itself less susceptible to an increase in the prices of resources due to lack of fossil fuels (Wind Vision). Wind energy acts as a safeguard and stabilizer for any p roblems that may arise with more common forms of energy, namely coal and fossil fuel, both ofShow MoreRelatedClimate Change And The United States928 Words   |  4 PagesOne of the great parts about wind energy is that it has a large amount of positives to the environment and hardly any negative effects. Because wind energy uses the wind for the energy there is no emissions generated from the energy produced. It is estimated that the use of one million kWh of wind power can save around 600 tons of carbon dioxide emissions (Saidur, Rahim, Islam, Solangi, 2011). 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Healthsouth Fraud Free Essays

HealthSouth Fraud Case Review Michelle F. White June 6, 2012 HPA 726 Intro to HealthSouth Fraud Case Review In 2003, HealthSouth was accused of one the largest accounting fraud cases in healthcare history and those involved are still being tried today, nine years later. HealthSouth was founded in Birmingham, Alabama in the year 1984 by a respiratory therapist name Richard Scrushy. We will write a custom essay sample on Healthsouth Fraud or any similar topic only for you Order Now By the year 1999, HealthSouth had grown to house 230 surgical centers, 120 inpatient hospitals, 5 medical centers, 129 diagnostic centers and 1379 outpatient rehab centers and was worth an estimated billion dollars. It was revealed that HealthSouth started their downward spiral in the year 2002, which paralleled the timeframe that Scrushy sold of ~ $100,000 in HealthSouth Stock Options. Within the following 6 plus months to follow, the FBI announced allegations against HealthSouth and opened a criminal investigation for probable SEC violations. The FBI investigation initially uncovered wrong doings from the years 1999-2002 where Scrushy had overstated his salary 1 million + dollars to meet expectations of shareholders and Wallstreet. Unfortunately, this was just the beginning, and as forensic accountants dug deeper, the FBI soon found that HealthSouth’s corporate accountants were adjusting entries to offset liabilities, reduce expense accounts and state elevated salaries to balance their bookkeeping. It was reported ~$373 million dollars of cash on the books was fictitious. It was eventually revealed that all four Accounting Statements were incorrect and that much of the inflated numbers were modifications made to the contractual adjustments and agreements; which in turn, made it fairly easy to hide from outside auditors. The outside auditing firm used by HealthSouth was Ernest and Young, LLP. Ernest Young, LLP not only was hired as outside auditor, but they were also hired as the consulting firm for Healthsouth throughout the fiscal year. Such arrangements are illegal today secondary to the new guidelines implemented during the Sarbanes-Oxley Act of 2002. To further put it into perspective, you must take into account that it has been reported that Ernest Young, LLP earned 3. 6 million dollars for their auditing services at HealthSouth, yet they did not uncover the fraud. Does that create a question to you? The Fraud was uncovered by Forensic Accountants from Pricewater-HouseCoopers who were brought in 2004 by the FBI. Pricewater-HouseCooper were accountable for finding the 1. billion dollar financial reporting discrepancy. Today, nine years later Ernest Young is still under the microscope as the judicial system continues to wade through this fraud case. In Regards to prosecutions, thus far 15 employees pled guilty and Scrushy was brought up on 85 counts of criminal charges, still serving his 7 year sentence today. The consequences to HealthSouth Investors were devasting starting in 2002 upon the start of the investi gation and the removal of CEO Richard Scrushy. (reference chart below)*1 In March 2003, the NYSE stripped HealthSouth of their SP 500 rating and stock values continued to drop from $19. 55 to $. 60 by the end of the investigation. In addition, HealthSouth’s assets and loans were frozen and JP Morgan chase used the assets to pay its bondholders $350 million plus interest. Other companies that share the HealthSouth’s industry vertical were also affected by this fraud case; thus many losing stock value overnight. One of the financial metrics specifically that was a red flag fell under the earnings category. For ten years, reported earnings did not fluctuate and stayed a constant. The goal of a public company is to have a steady rise in earnings versus jagged or flat line earning curve. I question as to why investors did not pick up on the flat line earning curve in addition to EY’s Auditors? Although I do realize hindsight is 20/20 and if my income was continuously increasing, I would most likely not spend much time scrutinizing the Operations Statement. Here are statistics pulled from Hoovers(*2) that provide a visual reference to the Fraud and its trend: Historical Financials Employees Year | Revenue ($ mil. ) | Net Income ($ mil. ) | Net Profit Margin | Employees | Dec 2005 | 3,207. 7 | (445. 9) | — | 24,000 | Dec 2004 | 3,753. 8 | (174. 5) | — | 40,000 | Dec 2003 | 3,957. 6 | (434. 6) | — | 40,000 | Dec 2002 | 3,960. 1 | (466. 8) | — | 51,000 | Dec 2001 | 4,380. 5 | 202. 4 | 4. 6% | 51,537 | Dec 2000 | 4,195. 1 | 278. 5 | 6. 6% | 53,216 | Dec 1999 | 4,072. 1 | 76. 5 | 1. 9% | 51,260 | Dec 1998 | 4,006. 1 | 46. 5 | 1. 2% | 51,901 | Dec 1997 | 3,017. 3 | 330. 6 | 11. 0% | 56,281 | Dec 1996 | 2,436. 5 | 220. | 9. 1% | 36,410 | Dec 1995 | 1,556. 7 | 78. 9 | 5. 1% | 26,427 | Due to acts of fraud like that committed by HealthSouth and Enron (along with several others), the Sarbanes-Oxley Act of 2002 was implemented by the SEC. Although there are pages of guidelines and rules; some of the key points of focus of the SOX ACT 2002 include: 1. It prohibits onsite Consultants 2. Every 5 years firms must change Audi tors 3. External Auditors must certify internal audit controls 4. CEO’s, CFO’s and Officers must sign audits holding them accountable with legal obligation 5. Real Time Disclosure of entries 6. Whistle Blower protection 7. Criminal Penalties for altering entries In Conclusion, HealthSouth’s fraud brought many weaknesses in the previous healthcare accounting methods to light. While many fraudulent participants are paying for their criminal mistakes and wrong doings, there is still a need for additional regulation. Due to the events in the late 90’s and early 2000’s we now have tighter regulations and penalty systems in place to address fraud in all public corporations. References (*1) Bernet, Patrick Michael and Getzen, Thomas E. The Company You Keep: Spreading Effects of Financial Fraud on Investor Trust. Journal of Health Care Finance 29 (2003): 17–28. * * (*2) Source: Hoover’s Inc. http://premium. hoovers. com. HeathSouth Corporation-Historical Financials and Employees * Appendix Each Appendix appears on its own page. Footnotes 1Complete APA style formatting information may be found in the Publication Manual. Table 1 Type the table text here in italics; start a new page for each table [Insert table here] Figure Captions Figure 1. Caption of figure [Figures – note that this page does not have the manuscript header and page number] How to cite Healthsouth Fraud, Essay examples

Cash Management at Richmond Corporation free essay sample

CASH MANAGEMENT AT RICHMOND CORPORATION Everest University Financial Management Dr. John Halstead April 8th, 2011 ABSTRACT Team D researched and worked out three problems to find out how Richmond Corporation, a mail order company which has grown extensively to four states due to being on the internet and because of the wide geographical area of its customers, now has to determined which cash management system will be the best for the company. The team has to provide answers to determine whether Richmond should proceed with the concentration banking system, the total net cash flow will be able to meet payroll and the cost of the transfer being indifferent between the two systems. CASH MANAGEMENT AT RICHMOND CORPORATION Richmond Corporation was founded 20 years ago by its president, Daniel Richmond. The company originally began as a mail-order company but has grown rapidly in recent years, in large part due to its Web site. Because of the wide geographical dispersion of the company’s customers, it currently employs a lockbox system with collection centers in San Francisco, St. We will write a custom essay sample on Cash Management at Richmond Corporation or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Louis, Atlanta, and Boston. Steve Dennis, the company’s treasurer, has been examining the current cash collection policies. On average, each lockbox center handles $235,000 in payments each day. The company’s current policy is to invest these payments in short-term marketable securities daily at the collection center banks. Every two weeks the investment accounts are swept, and the proceeds are wire-transferred to Richmond’s headquarters in Dallas to meet the company’s payroll. The investment accounts each pay . 68 percent per day, and the wire transfers cost . 20 percent of the amount transferred. Steve has been approached by Third National Bank, located just outside Dallas, about the possibility of setting up a concentration banking system for Richmond Corp. Third National will accept the lockbox centers’ daily payments via automatic clearinghouse (ACH) transfers in lieu of wire transfers. The ACH-transferred funds will not be available for use fo r one day. Once cleared, the funds will be deposited in a short-term account, which will yield . 75 percent per day. Each ACH transfer will cost $200. Daniel has asked Steve to determine which cash management system will be the best for the company. Steve has asked you, his assistant, to answer the following questions. 1. What is Richmond Corporation total net cash flow from the current lockbox system available to meet payroll? The amount collected each day is $235,000. The amount transferred is total amount collected on a daily bases from the four different locations for a period of 14 days, plus the interest in the amount of 0. 68 per day. Daily collection=235,000 per lock box Number of lock box=4 235,0004=$940,000 Wire transfer cost=0. 20% Interest rate=0. 068% per day Net cash flow =$940,000x. 002=$1,880 $940,000-1,880=$938,120 Future value=present value(1+interest)n Future value=$938,120(1+0. 0068). 4 1. 0068x. 04=1. 0003 $938,1201. 0003=$938,401. 43 for 1 day 2 weeks= $938,401 . 4314 Total net cash flow$13,137,620 2. Under the terms outlined by Third National Bank, should the company proceed with the concentration banking system? Richmond Corporation should proceed with the concentration banking system. By using the concentration banking system, it would be saving Richmond Corporation some money. With the current cash collection policies, using the lock box, it is costing Richmond Corporation a little bit of extra money. Net cash flow=$940,000 Each ACH=2004=800 940,000-800=$939,200 Short term will yield . 075=$939,200(1+. 0075) FV=PV(1+i)n (1. 0075). 04=1. 0003 PV= $939,2001. 003=$$939,481. 6 for 1 day 2 weeks= $939,481. 7614=$13,152,745 3. What cost of ACH transfers would make the company indifferent between the two systems? 1,880+14=26,320 per lock box Concentration banking system=800 per day 80014 =11,200 Over a two week period =26,320-11,200=15,120 15,120/14 Indifferent between the two =1,080 Work Cited Ross, S. , Westerfield, W. , Jaffe, J. , (2010) Corporate Finance, 9th ed. The McGraw-Hill/Irwin