What is claimed is: A method of presenting a reason for the rejection of a credit application from an applicant comprising:
Synopsis Born in war-torn China inHenry Yuen, known then as Che-Chuen, was forced to flee that country with his family. Nearly five decades later, Henry Yuen found himself listed in the Forbes with an estimated net worth exceeding one billion dollars. After immigrating to the United States, the low-key and studious Yuen earned a doctorate in mathematics as well as a law degree.
At the age of forty, Yuen and a close friend teamed together to develop a simplified method for programming VCRs. That simple technology would eventually result in U. Yuen and many other industry insiders expected that interactive TV would be the wave of the future in the television industry.
Since electronic programming technology would be indispensable to creating interactive TV services, many securities analysts believed that GTGI would rack up huge profits as those services proliferated. Unfortunately for Yuen, to date interactive TV has been a bust.
InHenry Yuen and a close friend developed VCR Plus, a new technology for programming VCRs; this technology would become the flagship product of Gemstar Development Corporation, a company that the two friends created. During the late s, Gemstar acquired nearly patents; these patents allowed the company to exercise effective control over programming and search technologies that are vital to most companies in the electronic communications and broadcasting industries.
Shortly after the merger that created GTGI, Yuen and several of his subordinates began using a variety of accounting gimmicks to enhance the operating results of the IP Sector, including diverting revenues to that sector from the Media and Services Sector.
To examine the principal concepts and guidelines that should be followed in making revenue recognition decisions. To identify fraudulent methods commonly used to overstate revenues. To demonstrate the importance of considering qualitative and quantitative factors in making materiality decisions.
To identify quality control mechanisms for independent audits.
To illustrate the limitations of client representations as audit evidence. Suggestions for Use This is a case that revolves around a small sliver of everyday life in American culture, namely, the ubiquitous television scroll that many of us check numerous times per day to find a flick, sporting event, or random television program to while away a few mindless minutes.
The major technical topic in this case is revenue recognition. The variety of abusive recognition revenue gimmicks used by GTGI provides you an opportunity to comprehensively discuss that topic and examine audit evidence issues relevant to revenue.
Some students will argue that anytime that an inappropriate audit opinion is issued, an audit failure has occurred. Other students typically define an audit failure as the lack of compliance with GAAS. Suggested Solutions to Case Questions 1.The issuing bank was known as NextBank and was fully owned by NextCard, regardbouddhiste.comrd, Inc.
was started during the Internet boom of the late s. Jeremy and Molly Lent, a married couple, founded the company in as Internet Access Financial Corporation, later changing the name to NextCard in Apr 28, · Free Essays on Coach Inc Case.
Search. abc inc. Everrett Jacks Case Study Analysis COM/ University of Phoenix Nichole Harris Case Study Analysis ABC, Inc., like most companies hire new trainees to better the company. As a part of the hiring process a campus recruiter is the one person whom has the hands on process of hiring new.
NextCard a credit card issuer to exploit growing e-commerce market in the USA. It was founded in , saw a successful initial public offering in , and became a subsidiary of regardbouddhiste.com, the largest online store.
was a year of growth for NextCard, with the number of accounts more than three times, nearly three-quarters of a million.
NEXTCARD, INC Nextcard, Inc. Case Study Nextcard, Inc. Case Study Question 1 The AICPA has a long history of advocacy on behalf of the public interest, including investors and the markets.
Our advocacy regarding the regulation of the auditors of broker-dealers is a good case in point.
Background Nextcard, Inc was a model for successful people who were looking to the internet in the ’s as an enterprise. Nextcard was founded in in California as the first credit card company to issue cards online. Case NextCard Inc. Bryan Seabrook Saint Leo University Advanced Auditing ACCCL02 Angela Sneed 28 March Case NextCard Inc.
When consumers and companies decide to invest in a company they are putting all of our trust in the companies that they are buying the stock from and the audit firms that audit those companies.