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    PFG and Wasendorf: Fraud Ethics

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    Reign Evans
    The document discusses three cases: the massive fraud committed by Russell Wasendorf Sr. at PFG Futures, the Parmalat fraud case and its victims, and analyzing financial ratios and cash flows of two companies in the same industry using their recent financial statements.

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    © All Rights Reserved
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    PFG and Wasendorf: Fraud Ethics

    Uploaded by

    Reign Evans
    12 views1 page
    The document discusses three cases: the massive fraud committed by Russell Wasendorf Sr. at PFG Futures, the Parmalat fraud case and its victims, and analyzing financial ratios and cash flows of two companies in the same industry using their recent financial statements.

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    cahsodiasjd

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    The document discusses three cases: the massive fraud committed by Russell Wasendorf Sr. at PFG Futures, the Parmalat fraud case and its victims, and analyzing financial ratios and cash flows of two companies in the same industry using their recent financial statements.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    12 views1 page

    PFG and Wasendorf: Fraud Ethics

    Uploaded by

    Reign Evans
    The document discusses three cases: the massive fraud committed by Russell Wasendorf Sr. at PFG Futures, the Parmalat fraud case and its victims, and analyzing financial ratios and cash flows of two companies in the same industry using their recent financial statements.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    You are on page 1of 1

    1. 10-41.

    FRAUD
    ETHICS
    PFG and Wasendorf LO 3, 8 Read about the massive fraud
    committed by Russell Wasendorf Sr. at PFG that we present in 10-36.
    Use appropriate resources to document the latest developments in the
    case against Wasendorf. Describe developments relating to Wasendorf
    Sr., Wasendorf Jr. and the auditor, Jeannie Veraja-Snelling.
    2. 10-42.
    FRAUD
    ETHICS
    Parmalat LO 8 Refer to the Focus on Fraud feature “The Parmalat
    Fraud and Its Many Victims.” Use appropriate resources to answer the
    following questions.
     Which two audit firms did Parmalat sue after the company’s
    bankruptcy?
     What was the amount that Parmalat sought to recover?
     What was the ultimate resolution of the case?
    3. 10-43.
    LO 5, 8 Access the two most recent financial statements of two
    companies in the same industry. For example, you might look at Yahoo
    and Google or Coca-Cola and PepsiCo. Perform ratio analysis using
    relevant ratios for both companies, and compare the following between
    the two companies:

     Analyze trends in the ending cash balance over time.


     Compute trends in interest returns on investments.
     Analyze cash balances, and changes therein, in relation to new or
    retiring debt obligations.
     Compute the current ratio (current assets/current liabilities).
     Compute the quick ratio (cash + cash equivalents + net
    receivables)/current liabilities.
     Compare cash flow to sales (operating cash flow/sales) and
    profitability (operating cash flow/net income).

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