Case 18 : crazy eddie, inc 1 there are several red flags that posed a higher than normal audit risk for crazy eddies financial statements after computing a number of different ratios, i learned that crazy eddie truly was crazy to think that his financial statements disclosures would go unnoticed i mean to have a drastic increase in inventory from 23,343 to 109,072 for the years 1984 to. Crazy eddie limped along for another year before being liquidated to pay creditors eddie antar, the ceo of crazy eddie, was charged with securities fraud and other crimes, but fled before his trial. Crazy eddie case essays1 compute key ratios for period 1984-1987 inventory turnover 458 39 325 25 the inventory turnover rate steadily declines from 1984-87, which could indicate, lost sales misstatements of inventory or cost of goods sold could be possible it also indicates employee strik.
In the crazy eddie’s case, sam e antar, the cfo (and eddie’s nephew), regularly stashed unpaid bills in his desk the liabilities would be either entered after the yearend or held for long periods without being recorded. A+ grade solutions acct 622 crazy eddie case 18 liberty university 1compute key ratios and other financial measures for crazy eddie during the period 1984-1987. When the music stops: crazy eddie’s background in the 1980s, crazy eddie was a fast-growing electronics retailer business specializing in stereos, televisions, vcrs, and computer gaming systems.
Open document below is an essay on crazy eddie from anti essays, your source for research papers, essays, and term paper examples. Auditing case 2: crazy eddie, inc 1 an analysis of key ratios during the period of 1984-1987 would have resulted in red flags that indicated that crazy eddie had a higher than normal level of audit risk. Eddie antar served seven years in prison, paid $75 million in penalties and later tried unsuccessfully to reopen the crazy eddie chain he tried to make a movie about his life starring danny. 1 compute key ratios and other financial measures for crazy eddie during the period 1984-1987 identify and briefly explain the red flags in crazy eddieâ€™s financial statements that suggested the firm posed a higher-than-normal level of audit risk2. Assume that you were a member of the crazy eddie audit team in i 986you were assigned to test the client's year-end inventory cutoff proceduresyou selected 30 invoices entered in the accounting records near year-end: is in the few days prior to the client's fiscal year-end and is in the first few days of the new year.
Acct 622 crazy eddie case 18 liberty university compute key ratios and other financial measures for crazy eddie during the period 1984-1987 identify and briefly explain the red flags in crazy eddies financial statements that suggested the firm posed a higher-than-normal level of audit risk. Afterwards, eddie antar changed the name of the business to crazy eddie around 1972, manufacturers were no longer able to require retailers to sell merchandise at the same price, and fair trade was outlawed. Crazy eddie financial fraud this is an old article -- from 2000 -- but the sidebar (at the end) describing how the electronics store crazy eddie committed massive financial fraud is fascinating there are numerous ways to classify financial statement frauds.
The alien itself, nicknamed a motie since it originated in the mote in god's eye, is a highly developed tool-maker part 1, the crazy eddie probe: chapter 8, the alien analysis a major theme of the book continues to evolve in this chapter. The mote in god's eye - part 4, crazy eddie answers: chapter 55, renner's hole card summary & analysis larry niven this study guide consists of approximately 53 pages of chapter summaries, quotes, character analysis, themes, and more - everything you need to sharpen your knowledge of the mote in god's eye. Search results for 'crazy eddie case questions 1 compute key ratios a' crazy eddie auditing case 1 analyzing key ratios during the period 1984-1987 points out several red flags that an auditor should have noticed.
Case 18 crazy eddie, inc case summary: at age of 16, in 1978, eddie antar opened crazy eddie inc in new york city this was an electronics store where leadership positions were assumed by family and relatives. Compute key ratios and other financial measures for crazy eddie during the period 1984–1987 identify and briefly explain the red flags in crazy eddie’s financial statements that suggested the firm posed a higher-than-normal level of audit risk.
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