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EXXON MOBIL (XOM)Individual AssignmentACTG 5200S – FINANCIAL DECISIONS FOR MANAGERSSubmitted By: Chaitanya JoshiStudent Number: 219918572
1Section AAcademic integrity is fundamental to learning and scholarship at the Schulich School ofBusiness Participating honestly, respectfully, responsibly, and fairly in this academiccommunity ensures that the Schulich degree that you earn will be valued as a trueindication of your individual academic achievement and will continue to receive therespect and recognition it deserves.While I don’t expect to encounter instances of cheating in this class, you should beaware that I take academic integrity very seriously, and that there are significantconsequences if you are caught cheating or engaging in academic misconduct.Examples of misconduct on tests and exams:Misrepresenting your identitySubmitting an altered test for re-gradingSubmitting work done as group or collaborating on an exam that must be doneindividuallyPlease sign the box below acknowledging the academic integrity statement abovePrint name:Chaitanya Joshi© Supinder S. Babra
2Section BQuestion 1.A) Ans:To attract and retain investors: Companies do financial fraud mainly to raise fundswhich eventually helps them to expand their operations nationally and globally.Inflating company’s profit, overstating revenue, false representation of assets orliabilities and deliberately not recording expenses are some of the accounting fraudscompanies do on financial statements to attract investors and raise company’smarket share.[CITATION htt \l 4105 ]Higher remuneration by committing financial fraud: Senior executives of manyorganizations earn quick and multifold returns if they are involved into corporatefrauds like, for e.g., Insider Trading. Committing such crimes are easy and difficult toprove.Lack of Globalized policy to encounter financial fraud: Every country has theirown laws which are designed to cater their needs and issues which makescountering financial frauds difficult in today’s globalized world. If the fraud iscommitted in a country where the fraud is not punishable, or the punishment is notthat serious it becomes difficult to make it punishable in other. For e.g., If the Insidertrading is done by some top-level executive and he moves to a country where thefraud is not serious or less punishable, it becomes very difficult for other countrywhere the company is registered to get him punished or deported to their country ifthey do not have extradition treaty.Lack of serious punishment:Since financial frauds are difficult to trace and catch,chances of person getting convicted for the fraud is very minimal. Even duringinquest, it becomes very difficult to prove if there is any financial fraud committed.

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Term
Summer
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Tags
Balance Sheet, Financial Ratio, Exxon Mobil

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