This thesis discusses accounting fraud in the workplace today, using the recent Wirecard scandal as a jumping off point. The thesis goes into the common causes of accounting fraud (organized by the three components of the fraud triangle), effective methods for countering fraud, and lessons that can be learned from the 2020 Wirecard scandal
The questionnaire was then used in conjunction with two interviews of small business owners. The interviews covered both the overall financial status of their business and their business’ pre-existing accounting system. The feedback received during these interviews was subsequently used to provide the business owners with eleven recommendations ranging from the implementation of new policies to verification of existing internal controls.
Finally, I summarize my findings, both academic and real-world, conveying that many small business owners do not implement formal internal control systems. I also discuss why the business owners, in this specific circumstance, did not yet implement the aforementioned eleven suggestions.
As the #VanLife craze continues to grow, new businesses are finding ways to meet the demand in the market. For #Vanlifers who own and operate their own camper vans, specialized companies like GoWesty, Vanagain, and Boxeer offer a full range of parts, upgrades, and custom mechanical and systems conversion kits to keep these vans on the road as OE manufacturers discontinue production on these parts. For those who have an itch to try out the #VanLife for a shorter period and without the financial commitment, companies like Roamerica, TontoTrails, and adventureRIGS offer nightly and weekly rental opportunities on fully-outfitted campervans ready to hit the road.
For my Honors Project I wrote a complete analysis on the history, development, and modernization of the #VanLife movement. With plans to take to the road for an extended period of time after graduation, I also developed a complete financial plan for a one-year #VanLife experience. The financial plan includes a comprehensive set of budgets that scrutinize the start-up an operational costs of the #VanLife and associated travel.
Through findings from interviews, a survey, and personally learning automation software we think automation will continue to grow in the accounting industry in the coming years. Accountants see software as something that makes them more efficient and firms are doing a good job training their employees on how to use these new software tools. Our interviewed accountants say that automation saves them time that can be used to work on other things. By learning Alteryx, an automation tool, we saw these time savings firsthand.
As the 2010’s came to a close, the world was thrust into a new era of panic, flexibility, and hyper growth as a result of COVID-19 (COVID). In an effort to combat this black swan event employers implemented mandatory work from home initiatives to stop the spread of COVID. Simultaneously, the Federal Reserve enacted a quantitative easing strategy in the form of low-interest rates accompanied by exhaustive government stimulus in an effort to stabilize the economy from its COVID induced panic. As a result of these factors, the U.S. has observed unique growth trends in population and home prices. This study aims to answer if low-income tax states experienced a larger population growth rate than moderate to high-income tax states from 2020 – 2022 and if low-income tax states experienced a larger increase in single-family home appreciation than moderate to high-income tax states from 2020 – 2022. To answer these questions, the study implemented the strategy of testing historical home pricing data provided by Zillow Research and population data provided by the U.S. Census Bureau through a correlation matrix to measure if there was a correlation and if the correlation P-values were significant. The same data was tested a second time through an index strategy which further confirmed the findings of the correlation matrix. The study found that there was a correlation between the income tax rate and home value appreciation and population growth from 2020 – 2022. As a result, the study concludes that there is enough evidence to infer that tax rates may influence home price appreciation and population growth. However, income tax rates are not solely responsible for the increases in home prices and population, but instead are one of many factors that influence these groups.
Through findings from interviews, a survey, and personally learning automation software we think automation will continue to grow in the accounting industry in the coming years. Accountants see software as something that makes them more efficient and firms are doing a good job training their employees on how to use these new software tools. Our interviewed accountants say that automation saves them time that can be used to work on other things. By learning Alteryx, an automation tool, we saw these time savings firsthand.