17 Jan Cary and Elle Bronson had been married for 15 years when trouble arose in their marriage. Carys long hours of working had taken a toll on it; he was rarely around even for family functions. T
Term 4 Unit 2 Discussions
Unit 2 Discussion Board (ACC325 Forensic Accounting)
Cary and Elle Bronson had been married for 15 years when trouble arose in their marriage. Cary’s long hours of working had taken a toll on it; he was rarely around even for family functions. The last straw came when Elle found lipstick on the collar of Cary’s shirt and the unmistakable scent of a very expensive woman’s perfume; this wasn’t the first time she had noticed the telltale signs of what appeared to be a clandestine affair. The next day, Elle visited an attorney to begin divorce proceedings. After some small talk, the attorney, Mark Smithson, asked Elle about the major assets accumulated during the marriage.
“Oh, there are the cars—a Jeep Cherokee, a Chevy Suburban, and a Bentley,” she answered.
“A Bentley?” he queried, somewhat surprised.
“Yes,” said Elle. “Our restaurant, The Roasted Duck, has done very well over the years.
We began the business with almost nothing and both worked there until Karen, our second child, was born. At that point, I became a stay-at-home mom and left every¬thing to Cary.”
“I’ve eaten at The Roasted Duck—the food is excellent,” Mark said.
“Thank you,” replied Elle.
“Is this the only source of income for you and your husband, Mrs. Bronson?” he asked.
“Yes, other than some interest and dividends,” she answered.
She and the lawyer discussed other matters pertaining to the divorce. He told Elle that he would obtain information from Cary’s attorney so that an equitable division of assets could occur and the issue of the custody of their children would be settled.
Two weeks later, Elle received a call from Mark. Through the discovery process, Cary’s attorney had submitted a valuation of the restaurant that seemed unusually low and had not listed any other assets that could account for the house and vehicles that the Bron¬sons had acquired and the private education that they had provided for their children.
“That can’t be right!” Elle exclaimed.
“Well, it certainly doesn’t look right,” Mark said, “I’ll look into this some more and let you know what I find.”
After he hung up the phone, Mark called Cary’s attorney. “This value placed on the restaurant doesn’t make any sense. What’s your take on this?”
After a short pause, the attorney replied, “Cary told me that the restaurant business is not doing well and, thus, the value has declined.”
After Mark hung up the phone, he pondered the situation: There must be an answer to this mystery. One thing’s for sure; if Cary isn’t telling the truth, he might as well change the name of his restaurant to The Cooked Goose.
What evidence (i.e., physical, documentary, and observational) could be collected to determine whether the valuation is correct? How could you go about collecting this evidence?
Assume for a moment that the valuation is correct. What other sources of money could Cary have to maintain his family’s lifestyle? How would you test your theories?
Unit 2 DB: Personal Fraud (ACC430 Accounting Information Systems)
For the discussion board 2, discuss a personal fraud that you are familiar with. Establish a thread for the fraud brought up and then discuss it. Let's get three or four personal frauds established and then we can discuss them. This is the only discussion board in this course where you do not need to create your own initial thread in order to view other threads in the discussion board.
Term 4 Unit 2 Discussions
Unit 2 Discussion Board (ACC325 Forensic Accounting)
Cary and Elle Bronson had been married for 15 years when trouble arose in their marriage. Cary’s long hours of working had taken a toll on it; he was rarely around even for family functions. The last straw came when Elle found lipstick on the collar of Cary’s shirt and the unmistakable scent of a very expensive woman’s perfume; this wasn’t the first time she had noticed the telltale signs of what appeared to be a clandestine affair. The next day, Elle visited an attorney to begin divorce proceedings. After some small talk, the attorney, Mark Smithson, asked Elle about the major assets accumulated during the marriage. “Oh, there are the cars—a Jeep Cherokee, a Chevy Suburban, and a Bentley,” she answered. “A Bentley?” he queried, somewhat surprised. “Yes,” said Elle. “Our restaurant, The Roasted Duck, has done very well over the years. We began the business with almost nothing and both worked there until Karen, our second child, was born. At that point, I became a stay-at-home mom and left every¬thing to Cary.” “I’ve eaten at The Roasted Duck—the food is excellent,” Mark said. “Thank you,” replied Elle. “Is this the only source of income for you and your husband, Mrs. Bronson?” he asked. “Yes, other than some interest and dividends,” she answered. She and the lawyer discussed other matters pertaining to the divorce. He told Elle that he would obtain information from Cary’s attorney so that an equitable division of assets could occur and the issue of the custody of their children would be settled. Two weeks later, Elle received a call from Mark. Through the discovery process, Cary’s attorney had submitted a valuation of the restaurant that seemed unusually low and had not listed any other assets that could account for the house and vehicles that the Bron¬sons had acquired and the private education that they had provided for their children. “That can’t be right!” Elle exclaimed. “Well, it certainly doesn’t look right,” Mark said, “I’ll look into this some more and let you know what I find.” After he hung up the phone, Mark called Cary’s attorney. “This value placed on the restaurant doesn’t make any sense. What’s your take on this?” After a short pause, the attorney replied, “Cary told me that the restaurant business is not doing well and, thus, the value has declined.” After Mark hung up the phone, he pondered the situation: There must be an answer to this mystery. One thing’s for sure; if Cary isn’t telling the truth, he might as well change the name of his restaurant to The Cooked Goose. What evidence (i.e., physical, documentary, and observational) could be collected to determine whether the valuation is correct? How could you go about collecting this evidence? Assume for a moment that the valuation is correct. What other sources of money could Cary have to maintain his family’s lifestyle? How would you test your theories?
Unit 2 DB: Personal Fraud (ACC430 Accounting Information Systems)
For the discussion board 2, discuss a personal fraud that you are familiar with. Establish a thread for the fraud brought up and then discuss it. Let's get three or four personal frauds established and then we can discuss them. This is the only discussion board in this course where you do not need to create your own initial thread in order to view other threads in the discussion board.
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Wridemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.