Discuss the circumstances under which Satyams fra Essays

Discuss the circumstances under which Satyam's fra Essays Discuss the circumstances under which Satyam's fraud was exposed. 1, the failure of the acquisition of Maytas Infra and Maytas Properties which are promoted by two sons of satyam's chairman, Ramalinga Raju.These two companies are considered as business companies where they held more than 35%portion stake (significant realted party transcation involved in the acquisition) 2,the investors strongly against this acquisition , share price fell off by 30% Media and investors started raising doubts over the corporate governance practices at Satyam - considering a share buyback 3,World Bank suspended Satyam for eight years from doing any business with itself (offering brides to obtain lucrative contracts) 4,an independent director resigned (not opposing to the acquisition) 5, Infrastucture Leasing and Financial Services Trust sold 4.41 million shares which results in the decrease in the raju and his family stake in Satyam 6, market capitalization eroded by 40 % 7,former senior executive in Satyam sent out an anonymous email to board members and then forward ( include details about financial irregularities and fraud at Satyam. What do you think were the reasons for the fraud? Could this fraud have been prevented? 1, Low profit margin (3%) and increasing competitionoverstate profits to maintain the share price level which can make sure Satyam was not subjected to a hostile takeover. 2, raju could first think that a minor adjustment could be in the general interest of everyone concerned (cover up bad performance and become unmanagemeable with company expands) 3,Experts refuse to believe that the operating profit of Satyam could be as low as 3%. This leads to speculation that some of the money could have been siphoned off. 2. Critically evaluate the corporate governance mechanisms adopted at Satyam. Did they help to prevent fraud? First - internal audit (team headed by CFO ( financial gap in actual and stated profits was known to senior officials including the chief operating officer and the CFO Second- external audit (Pwc) - higher audit fee twice as peers exists bride to hide accounting irregulations( improper verification of cash and bank balances) Third the board has the audit committee headed by an independent board member 3. What lessons are learned from the Satyam case? 1. Investigate All Inaccuracies The fraud scheme at Satyam started small. Sound familiar? A lot of fraud schemes start out small, with the perpetrator thinking that small changes here and there won't make a big difference - and are less likely to be detected. This sends a message to a lot of companies: if your accounts aren't balancing or if something seems inaccurate, even just a tiny bit, it's worth investigating. Break down tasks so that there are checks in each area. Dividing responsibilities across a team of people makes it easier to detect irregularities or misappropriated funds. 2. Ruined Reputations Fraud doesn't just look bad on a company, it looks bad on the whole industry. According to a Reuters article, Accounting Scandal at Satyam Could be India's Enron : "India's biggest corporate scandal in memory threatens future foreign investment flows into Asia's third-largest economy and casts a cloud over growth in its once-booming outsourcing sector. The news sent Indian equity markets into a tailspin, with Bombay's main benchmark index tumbling 7.3% and the Indian rupee fell." The Satyam scandal subjected even the company's Indian rivals to greater scrutiny by regulators, investors and the public. 3. Corporate Governance Needs to be Stronger The Satyam case is just another example supporting the need for stronger corporate governance. Companies mustbe carefulwhen selecting executives and top level managers. These are the people who set the tone for the company - if there's corruption at the top, it's bound to trickle down. Separate the role of CEO and Chairman of the Board. When the same person takes on both roles, who's left to check up on the CEO? Splitting up the roles helps avoid situations like the one at Satyam. Auditing firms, likePricewaterhouse Coopersalso need to be brought under the regulatory umbrella. Without monitoring, it will be difficult to tell if the auditor and the company are working together to tamper with the accounts.

A Funny Selection of Philosophy Jokes

A Funny Selection of Philosophy Jokes There are plenty of hilarious philosophy jokes out there, some of which could easily be incorporated into teaching materials for both children and adults. From three books on the topic by Tom Cathcart and Dan Klein to the back pages of the internet, philosophy has borne the brunt of many a joke through the ages, offering both truth and humor to a rather grim observation of the human condition. The history of philosophy  is, in fact, riddled with humor. Cathcart and Klein Since 2007, the dynamic philosophy comedic duo of Tom Cathcart and Dan Klein have used humor to observe some basic truths around human psychology and ancient and modern philosophies. They famously taught the work you may even begin to understand philosophy through jokes, penning three books on the topic. Largely their structures hinged on telling a joke then explaining its relevance to the broader science. Their first book, Plato and Platypus Walk Into A Bar: Understanding Philosophy Through Jokes premiered in 2007 and was a major commercial hit, breaking down jokes according to philosophical branches or broad topics such as relativity. In it, it picks apart such jokes as what is the sound of one hand clapping, as they compare to Platos observations on topics like religion, logic, and reasoning. Aristotle and an Aardvark Go To Washington was their second book, published in 2008 and utilized politicians most awkward talk to take up philosophical issues. Their third book Heidegger and a Hippo Walk Through Those Pearly Gates: Using Philosophy (and Jokes!) to Explore Life, Death, the Afterlife, and Everything in Between (2009) is devoted to a single philosophical topic: immortality. Some of Historys Greatest Jokes Some notable and unsourceable jokes date all the way back to Platos time, in fact, The First Law of Philosophy is that for every philosopher, there exists an equal and opposite philosopher and the Second Law of Philosophy states that theyre both wrong. A common joke overheard  in 18th-century England was told as Did you hear that George Berkeley died? His girlfriend stopped seeing him! And more recently, you may have seen this gem plastered on bathroom stalls: God is dead - Nietzsche; Nietzsche is dead: God. Nothing is safe in the realm of philosophy jokes, especially not religion. Have you heard this one? What did the Buddhist say to the hot-dog vendor? Make me one with everything; What did the vendor then say to the Buddhist when he asked for change? Change comes from within! Ethics also hasnt avoided ridicule, as is the case with this famous joke. In it, a thoroughly secular young attorney and a philosopher were engaged in a fierce theological debate. Heaven and hell, you will agree, may very well be separated by a wall, contended the lawyer. Should it happen that this wall would fall down, who would you say must rebuild it? He posits that the righteous would insist that the wicked do it and the latter would likely refuse. He continues, If this case came before a judge, which do you believe would emerge the winner? The philosopher replied, It seems to me that any fair-minded judge would render a verdict against the wicked since the likelihood is that the wall should crumble from the fires of hell rather than from the bliss of Paradise, but on the other hand, I fully realize that hell surely contains a full quota of glib-tongued lawyers, and I should therefore not be surprised if they won the case.

Marijuana company Essay Example | Topics and Well Written Essays - 750 words

Marijuana company - Essay Example One of the segmentation variables is the physicians. I choose this segment because physicians have a high knowledge of medical marijuana strain differences, the methods of consumptions, medical uses and the effects and have obviously prescribed medical marijuana to a patient. The second variable is the low income medical marijuana patients both males and females. I chose this variable because this group desire low prices that the company will offer and their expectations for the quality of marijuana are low. The frequency of their treatment is lso high and thus they make bulk purchases. The third variable is the average or above average income medical marijuana patients. These patients expect average to high prices,customer service, quality of marijuana, and strain differences. In addition, they have a high concern for non toxic chemical additives and treatments and the frequency of treatment is also high (Alisha, 2010). On treatment of cancer, medical marijuana is useful in increasing appetite and in reducing nausea related to chemotherapy. Medical marijuana is also good for individuals with epilepsy since it has a psychoactive chemical that inhibits the brain processes known to cause seizures. In addition, smoking marijuana tends to lower pressure in the eye; thus, relieving glaucoma discomfort for at least three hours. Patients suffering from HIV/Aids can use medical marijuana to battle with the effects of the disease. Patients who use medical marijuana gain weight despite their conditions. From trials carried out it is evident that medical marijuana contributes to a decrease in muscle stiffness and symptoms of multiple sclerosis. Constantly, marijuana has been used to reduce acute inflammation in patients (Alisha, 2010). Medical marijuana market is worth 1.3 million dollars with almost half a million-population target. The patients are supposed to buy medical marijuana from approved suppliers, which is

Interpersonal Negotiation Case Study Example | Topics and Well Written Essays - 500 words

Interpersonal Negotiation - Case Study Example We would appreciate if you allow us to build a road, and we will make sure that you wetlands see the least disturbance. 2. Concerns can be best addressed through the transformative approach only. This approach considers the problem as an opportunity for moral growth and empowerment of all parties involved rather than looking for a solution only. Thus, all parties feel that they are an important part of decision-making process and reach a solution that is acceptable to all involved. This enhances the relationships because the solution reached maximizes the collective gain. 3. To save the relationship from destroying, the three groups should move with the collaborative and transformative approach. A win/lose negotiation will destroy the relationships although a solution is reached much sooner. But it is important for the groups to sit down and discuss the matter with each other rather than letting one party lead the others and making one lose and the other win. It should be a win/win situation for all. 4. If I was a negotiator for the first group, I would go to the second group myself rather than calling them to my office, and would make them understand why the road construction was crucial. I would not impose upon them my plans and order them to move. I would compensate them their loss of scenic beauty through financial support and would make them understand the complexity of the

Queering privilege :: Essays Papers

Queering privilege In any groups’ struggle against injustice, a glint of jealousy and bitterness seems to accompany thoughts of the oppressor and those positioned in places of privileged within structures of domination. Generally it is acknowledged that there are no simple scapegoats upon whom to unequivocally level blame for all the world’s maladies, tempting as finding and accosting such a character is. Despite the growing willingness to let go of old myths of directly responsible villains, there remains a not unrelated urge still to describe and intellectually master (exert power over by gaining knowledge of) those who inhabit structural locations of privilege. Taking the case of Patricia Hill Collins’ black feminism, a rather nuanced understanding of such characters is developed to better know their place. However, the accounts of this sort of simplistic anti-domination critique ultimately replicates, in its theorizing, the assimilationist incompleteness of the modes of tho ught it initially rejects. For people to be ‘structurally positioned’ in ‘relatively privileged ways’ means that they routinely receive benefits and escape discomforts as compared to trends in other people. Usually these trends about what is ‘routine’ and how ‘other people’ live rely on some creation of a category of â€Å"normal† from which others are understood as departures. A first issue is to determine what a benefit or discomfort would be. By discomfort, of course, I mean to sarcastically understate the range from daily and ‘accidental’ inconveniences to very intentional brutality that makes up a common experience of grinding oppression that structurally condemns folks as individuals and groups. Similarly, benefits span a sizeable range in their particularity, but compose an overarching preponderance of niceties. However, who gets to decide what is oppressive or beneficent might be the effected person, someone higher up, or impe rsonal criteria, but this is a question for ethics one is tempted to bracket. Some groups, it then seems, are in better places, but who are â€Å"they†? If black women can be defined as a group by first noticing the trends that particular people encounter, such as often being suspected of shoplifting, and then correlating these patterns with their constructed identity (the combination of categories â€Å"black† and â€Å"woman†) (Collins 25-26), then perhaps groups with structural privilege can be understood similarly. The categories of, say, â€Å"man† and â€Å"white† do seem to line up with systematic privileges. In Patricia Hill Collins’ black feminism, both the criticisms and alternative methodologies offer some insights into the nature of a position of privilege and what it means to inhabit it.

Progressivism DBQ

I was surprised to learn about your passion to do good for other would be honored to fulfill your wish of Glenn away one million dollars. Through our discussions, you have made me realize there Is another America that people do not II eke to talk about. We talked about the meat packing plant, child labor, and women's right s. After much thought, I have decided to give $600,000 to the meat packing plant, $300,000 to child labor, and $100,000 to women's rights.I have decided to give $600,000 to the meat packing plant. According to Document D, there was â€Å"meat that had tumbled out on the floor, in the dirt and said just, where the workers had tramped and spit† (Doc D). It also states that â€Å"thousands of RA TTS would race about† on the pile of dirty meat, and there would be â€Å"handfuls of the dried d dung of rats† (Doc D). This kind of disgusting work ethic had many people sick and dying.To get rid of the rats, the packers would put â€Å"poisoned bread o ut for them†, an d hen after they would die, the dead rats, the poisoned bread, and the meat would all be pushed into the hoppers together (Doc D). It is disheartening that the workers of this industry did not care about this dirty contamination. These are Just some of the areas ones that I have made my decision to give the most amount of money to this Industry In hopes that they will make It Into a respectable operation. With this money, they wool be able to rebuild a new company making it more reliable and cleaner for the people.

Business Analysis Sundaram Finance Limited Essay - 611 Words

CHAPTER 1 INTRODUCTION 1.1 OBJECTIVE OF THE PROJECT The project was done in Sundaram Finance Limited. It is a Non Banking Financial Company which accepts deposits from customers, and gives out loans, and also performs leasing and hire purchasing functions. Vehicle financing takes up a huge chunk of the company’s operations. Among the three types of vehicle financing (Hypothecation, leasing, and hire purchasing), leasing is done majorly to huge and well performing corporate. So the need for credit appraisal is rendered moot in that case. While in the case of hypothecation and hire purchasing, the customers range from individuals with sporadic income streams to companies. Therefore, in order to safeguard the profitability of the company,†¦show more content†¦For people belonging to the salaried class, pay slips and Form 16 are studied; for businesses, the Profit and Loss statements, Income and Expenditure statements, Balance Sheets are studied. 1.3 IMPORTANCE OF CREDIT APPRAISAL As mentioned earlier, credit appraisal forms the backbone of the hire purchasing department without which the company would be at a loss for choosing customers. Credit appraisal ensures that the company is choosing the right customers without adding to its Non Performing Assets and compromising its profitability. It is extremely important that a company should mitigate its credit risk. Credit risk is the risk associated with non repayment of loans. This can be done by using credit appraisal 1.4 Scope of the project The scope of the project is confined to the analysis of three years of data of customer companies for the credit appraisal process, a sample of 175 contracts to study the recovery pattern, and five years of data to analyse the profitability of Sundaram Finance Limited. The study was conducted only for cars and commercial vehicles customers and not other types of financing like tire and fleet card. 1.5 Limitations of the project The following are the limitations of the project The credit appraisal procedure varies from one NBFC to another. Therefore it cannot be used to generalize or to study about the industry. 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