Tools Used for Examining Frauds Term Paper Example | Topics and Well Written Essays - 2000 words

Tools Used for Examining Frauds - Term Paper Example They grab the attention of the clients by promising them quick money (Coderre, 2009). Detection of financial frauds required experienced forensic accountants. They are basically accountants, auditors, and investigators of financial and legal documents who are hired by the company to look into possible financial frauds taking place. There are different varieties of financial frauds. The range can spread from a simple theft to more complicated frauds and identity thefts. Some of the common types of financial frauds are; check fraud, banking/identity fraud directs theft, invoices and payments fraud. Four basic frauds that occur in a business are; Embezzlement, internal theft, payoffs and kickbacks and skimming (Imoniana, Antunes & Formigoni, 2013). Embezzlement which is also known as larceny occurs when the personnel who are appointed to control the funds, use them illegally for their personal gain (Petrucelli, 2013). Internal theft takes place when company assets such as company products or supplies are stolen by the employees. This causes inventories to shrink down. Pay-offs and kickbacks are kinds of bribery which are often reported by the companies. These occur when employees take money from the receipt and that transaction is not recorded. Other important frauds are Money laundering, Mortgage fraud, Racketeering/ RICO, Securities fraud, payroll-fraud, manipulation of sales figures, tax evasion, use of fictitious invoicing, stealing money from company accounts, duplicate billing, accounts receivable fraud, financial statement fraud, etc. Money Laundering is the process of movement of illicit money and other profits through legitimate channels with the purpose of disguising the illegal source of the money to prevent from tax officials (Wells, 2010).  

Key Factors That Stimulate Economic Growth Economics Essay

Key Factors That Stimulate Economic Growth Economics Essay Firstly, one of the main determinants is capital. As a result, an increase in capital through investment will increase output. Investment will only raise output depending on the productivity of this new capital which is called marginal efficiency of capital. Physical capital is essential as workers are more productive and they are able to work more quickly and accurately by having the right tools. Furthermore, the quality of labour (education) determines human capital. Investing in education is similar to investing in physical capital. Consequently, investing in secondary schooling is considered one of the most effective ways that developing countries can increase their growth. Also, this is also showed in the UK budget 2010 where they are giving 20,000 additional places at undergraduates as it is seen as vital to the economic recovery (telegraph, 2010). Figure 1 shows the student test scores versus GDP per capita. The correlation between GDP and test scores, although not perfect, is strong (economic growth, pg.179). Countries that devote a large share of GDP to schooling, such as UK and Singapore, tend to have high growth rates. Countries that devote a small share of GDP, such as Mozambique and Nigeria, tend to have low growth rates. Figure 1: Student Test Scores vs GDP per Capita In addition, human Capital includes the size of the labour force. If there is an increase in the working population then there will be an increase in potential output. Population growth has a positive impact on GDP as more people bring stimulus to demand, investment and income. Since 1945, labour input has risen mainly because more women have joined the labour force (Begg, pg. 517) Both physical and human capital directly impact on the productive capacity of an economy, as there are more resources available. They are complements of each other as one cannot work with a tool if one does not have sufficient education and skills. For example, after the 2nd World War in Germany, physical capital (land, infrastructure) was destroyed, but the skills of the labour force allowed Germany to be one of the countries that recovered most rapidly after 1945 (Begg). Moreover, growth per capita was very small in the past but after the 1750 industrialisation the capital and knowledge that was gained by one generation was accumulated by the next and this resulted in a much increased GDP (Economist). This shows that both types of capital are essential for economic growth. Moreover, natural resources also contribute to economic growth but there is a limit as to how much can be exploited. For instance, oil is a non-renewable resource and when it is depleted, we will not be able to create more. Also, the land that a specific country owns will always stay the same, unless it is conquered by another country. Therefore, natural resources contribute to the economic growth but they are not necessary for an economy to be highly productive. For instance, Japan is one of the richest countries but does not have many natural resources (Mankiw and Taylor, pg. 508). Furthermore, technology is another key determinant of economic growth. The new growth theories examine factors that à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€¦Ã¢â‚¬Å"determine why technology, research, innovation and the like are undertaken and how they interactà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ã‚  (LeRoy). Technological improvements (such as computers) increase the marginal efficiency of capital (which is the additional output resulting from the use of an additional unit of capital) and new machines give a higher rate of return as technology can replace workers. Innovation also allows us to transform objects into forms that provide greater growth. The New Growth Theory also implies that we continue to increase living standards by steadily improving our knowledge of how to produce more and better goods and services with ever smaller amounts of physical resources (Grossman and Helpman, 1994). Knowledge and education are equally important. Romer (1968) argues that production and manufacturing knowledge is just as important as other determinants. He believes that knowledge is itself a factor of production and economies should invest in it, just as they invest in capital and machines. This is why knowledge and education will affect economies in a long term as more people will be able to contribute ideas, invent new products and build on ideas of others for the economy to move forward. Figure 2 shows the productivity (GDP per worker) levels in 1993. For decades, UK has invested a smaller proportion than other countries. Few of the causes of this poor performance comparing with other countries are that: UK had been slow to exploit the commercial potential of new technologies, the workforce had not had the skills necessary to adapt to changing economic conditions and to innovate and the amount of investment has been poor comparing with international standards (Treasury). Since then, UK has increased investment in human capital, technology and innovation. This resulted in Figure 3, where the reduction in the UKà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s output per worker gap with France, Germany and the US from 1995 to 2005 (after 10 years) is showed. The treasury reported that UK in 2006 was now experiencing its longest period of combined productivity and employment growth since the 1950s. Figure 2: Productivity (GDP per worker) levels in 1993 Figure 3: International comparisons of output per worker (treasure, pg.3) It is also reasonable to expect that, if other things equal, a greater commitment to innovation and research and development will accelerate technical progress and hence productivity growth (Economic Growth in Modern Britain, pg. 45). This is due to increasing use of technology that enables introduction of new and superior products and processes. This role has been emphasised by various growth models and many studies (Fagerberg, 1987; Lichtenberg, 1992; Ulku, 2004 (working paper)). However, RD is quite risky because the economy does not know how much to invest in it and if they will actually find something new. This is why an economy needs to have a skilled and educated labour force in order to succeed in RD. In the pre-budget of 2009, UK has more than doubled public investment and encouraged private sector investment through the RD tax credit. The Government has announced that it will introduce a Patent Box to strengthen the incentives to invest in innovative industries and ensure the UK remains an attractive location for innovation. (innovation pg. 66) Another major contributor to economic growth is investment and savings. Solowà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s Growth Model emphasises the importance of investment in an economy (Working paper). Most determinants of economic growth depend on investment like: capital, education and technology. In order for capital goods to be accumulated to produce greater quantities of consumer goods in the future, consumer goods have to be given up in the present. For growth to occur the level of investment has to be greater than the amount of depreciation. The higher the level of investment above depreciation, the greater the potential output of the economy in the future. Unfortunately, the resources to enable investment have to come from somewhere and this is achieved by an increase in savings by households. Higher saving rates contribute to higher investment and hence increase capital accumulation and economic growth. The analysis above gives the traditional Production Possibility Frontier(PPF) model of economic growth. In the figure below, a country starting with high levels of current consumption will have few resources available for investment. Its PPF will increase only slowly, if at all. A country succeeding in restricting consumption today will have an expanded PPF in the future, and can move to a point of higher consumption and higher economic growth (factors determining economic growth). Figure 4: Production Possibility Frontier Free trade also supports economic growth as it encourages a more rapid spread of technology and industrial ideas. Open markets affect economic growth through several channels such as exploitation of comparative advantage, technology transfer and diffusion of knowledge, increasing scale economies and exposure to competition (working paper). Poor countries that are open grow faster on average than rich countries because openness leads to economic convergence and the speedup of growth (graph pg. 326 table 11.1). In figure 5, we can examine the economic opening of Japan in 1858. It shows the price of two goods, tea and sugar, which before the opening were equally valuable. However, as soon as Japan began to trade, the price of tea rose and of sugar fell. Japan could now export tea at a higher price and import sugar without processing it domestically. It had a comparative advantage in the production of tea and within two decades was exporting 24 million pounds of it annually. By increasing competition between countries, efficiency improves and it increases the incentives for technological innovation. Trade encourages economies to discover ways to specialise so that they can become more productive and earn higher incomes. However, not all economies can benefit from free trade because they do not all have the means to technological progress or enough knowledge. In conclusion, economic growth is an important topic because it has such a significant impact on the welfare of many people. It is a field of active research, in which ideas are constantly being processed; new models are built, debated and tested. One can see that all determinants are interlinked and contribute to a long-term economic growth.

The Importance of Ghosts In Emily Brontes Wuthering Heights Essay

The Importance of Ghosts In Emily Bronte's ‘Wuthering Heights’ ‘My fingers closed on the fingers of a little, ice-cold hand! The intense horror of nightmare came over me: I tried to draw back my arm, but the hand clung to it’ (Page 20) In this extract Lockwood thought he had a dream, he remembers that he ‘turned and dozed’ and dreamt again, but the above extract shows that this was different from any other dream, it is much more realistic and increasingly frightening. This leads the reader to believe that this really is not a dream and that a supernatural being is causing this entire disturbance. The importance that this has to the novel is that it adds an element of excitement and mystery, rather than Lockwood just having a dream about a ghost by the end of the extract, they believe that there really was one there. What makes this part of the novel all the more stirring is the fact that there is evidence that this really was a ghost at Lockwood’s window. For instance Lockwood says that that name of the ghost was ‘Catherine Linton’: ‘(Why did I think of Linton? I had read Earnshaw twenty times for Linton)’ (Page20) This is to say that in any dream one would not expect to dream about someone they had never met before, and they would expect for their dreams to be a collaged combination of all the things that had happened to them. In this particular extract Lockwood is saying that he had read the name Earnshaw, all he saw ‘was nothing but a name repeated in all kinds of characters, large and small-Catherine Earnshaw,’ Lockwood is saying that if this really was a dream then why did it say Linton? The theme of the afterlife is repeated all throughout the novel, and is especially reiterated by the fact that Heathc... ... ‘There’s Heathcliff and a woman, yonder, under t’ nab,’ he blubbered, ‘un’ I dare not pass ‘em.’ (Page 288) The primary importance of this sighting of the ghost is that it could actually be real. The evidence for this was that the moors were very much a favourite place for Heathcliff and Catherine to go walking. This is important because it shows that their love for each other has lasted until after their death. The most important piece of evidence for these ghosts being real is that ‘neither the sheep would go on’ with the boy. As human kind we always say that animals do have a sixth sense and that they can detect the ghosts and other spirits which new cannot. Brontà « has used ideas like the sheep so that the reader can gain a real perspective of what was on the moors, and of course how strong the relationship between Catherine and Heathcliff really was.

Corrections Accreditation and Privatization Essay

Accreditation means to meet requirements. Corrections are a system of agencies likes jails and prisons. So corrections accreditation is just that. Correction systems need to meet requirements all the time to maintain accreditation to hold a higher standard. Corrections accreditation has a positive effect on the professional develop of corrections officers. Because the standards for accreditation change every year, this means that the officers have to go through more things to become credible. By learning new things they set higher standards. Accreditation improves the management of the facility, raises accountability and credibility for the staff and administration, and makes for a safer environment for everyone. To plan for better correctional officer professionalization and accreditation the industry leaders can make it harder to get that position. They can make the training harder and make them go through new training or refresher courses every so often. Most times these officers let things slide they should not, which leads to lower credibility for the institute if they are caught because such things need to be reported. A correctional officer job is not one to take lightly because they are not glorified babysitters. They need the extra training and they should have to meet certain physical criteria so if in a position they need to get out of they have the smarts and ability to do so. Privatization is basically the private operations of prisons and jails. This affects state and federal because privatized systems do not have to follow the same guidelines as the others. The privatized systems can also go for profit, non-profit or charitable organizations whereas state and federal prisons depend on tax money to operate. Privatized prisons are held accountable and this is measured and monitored just as in state and federal prisons. They do not cut corners so in many ways they are more secure and safe compared to state and federal prisons. The privatized prisons offer effective inmate programs just as do the state and federal prisons. They also hold to the safety standards that state and federal prisons do.

A Mystery of Heroism by Stephen Crane

Stephen Crane’s story entitled â€Å"A Mystery of Heroism† can be said as a great story in terms of using signs, symbols, language use, power, and character emotion.Crane used different expressive words to show the readers the situation of the soldiers while waiting for a big battle. They were not good-looking because of the dust and dirt that went through their bodies and uniforms. The readers would truly understand the life and situation of the field where group of soldiers were looking forward to death as they march their bodies into the forest without any assurance of being alive.Personally, I can say that Crane made a good attack of simple yet significant kind of heroism in his story. He showed that heroism is not always about dying for your country or people; it can also be shown as you face the risk of death for your own sake and for your company soldiers. It illustrates simplicity when it comes to the main conflict of the story – thirstiness.The soldiers are all thirsty but they refrain from going to the well for it will be the entry point to hell but Collins faced his fear of death and went to the well. For him, going to the well and get some drink would give him strength rather than ignoring his thirst and went to the battle and die.As first, his comrades influenced him to get some drink but as soon as he gets there, his dignity raised him to conquer his fear from all the manifestation of death that may surround him.As what the narrator described Collins, he was just a simple man with imperfection and uncertainties in life. He depicts Collins as â€Å"irritable, childish, and diabolical,† (Crane, 494).It means that though he was dignified as a man that led him to become a hero; he is an imperfect person with circumstances and irrational beliefs during his teenage years and can be the same while he was in the battle.However, Crane wanted to show that heroism is not about being perfect to face your lifetime. He wanted to shar e his thought that despite of all the flaws that a person has, he would still be proclaim as a hero once he makes a difference for the goodness of many.He used the setting soldier’s battle in the forest for it was always the situation where young men became heroes of the contemporary world. However, the irony within here is that heroism does not went through the battle itself fighting enemies to win the pride of the nation but doing a simple task to make all the comrades live by giving them liquid to refresh their empty and knuckled bodies.As I read the story, I felt sorrow and pain towards the soldiers. They need to be tough outside of their being even if they were weak within their souls.Through this, it can be seen that even they do not have the courage to do much things for their comrades and nation; they were already heroes of the country for they show the world that they could face the reality of death even if they do not deserve to die. It shows that they were all hero es from the day they went to the battle until they breathe their last.As a conclusion to this, Crane depicts the story of human heroism. It is a simple representation of true brotherhood and toughness. All soldiers deserve a great award for all their sacrifices and strength. Though it was a fictional story, the readers can feel the truthfulness of reality in the society. It showed that being a soldier is not just a simple job but a passionate responsibility to whole nation and they need to survive to be the armor of salvation.Work CitedCrane, Stephen. â€Å"A Mystery of Heroism†   p.490-496, 1895