Conclusion in order to successfully cope with the

This preview shows 25 out of 31 pages.

action is vital.
Image of page 25

Subscribe to view the full document.

CONCLUSION In order to successfully cope with the issue of fraud and theoretically deter in its early stages we put together a take action plan. This plan is comprised of three stages including prior to hiring employees, during the hiring process, and post hiring. The before hiring stage involves thoroughly checking the background of potential hires for any suspicions or inaccuracies. For the employees hired, we then set the standard which makes up stage two. Put in place a detailed code of ethics and fraud policy for every to not only know but live by. Also, by modeling the “Tone at the top” business concept. The final stage of this framework is to assume a fraud is already in place and to then take action of deterring it before it is too late and loss is above mitigation. An organization is to hire CFEs or external auditors to deter the issue of fraud in its early stages. Fraud is a top issue in the accounting industry and for companies as a whole, billions and billions of dollars are compromised annually due to fraud.
Image of page 26
The Airline Industry Top Five Companies within the Airline Industry (by revenue) United Airlines (37.15B) Delta Airlines (36.67B) American Airlines (24.86B) U.S. Airways (17.09B) Southwest (13.83B)
Image of page 27

Subscribe to view the full document.

Overview of Airline Industry The airline industry is the business of transporting paying passengers and freight by air along regularly scheduled routes, typically by airplanes but also by helicopter. The industry can be split into four quadrants including international, national, regional, and cargo. The leading companies in this sector of business include United Airlines, Delta Airlines, American Airlines, U.S Airways, and Southwest. Financials Company Revenue Return on Equity Return on Investment Earnings Per Share Market Capitalization Stock Price United Airlines 37.15B -39.8 N/A -2.18 8.06B 24.26 Delta 36.67B N/A N/A 1.19 11.78B 13.93 American Airlines 24.86B N/A N/A -5.60 419.09M 1.25 Southwest 17.09B 6.08% 2.75% 0.56 8.28B 11.27 U.S. Airways 13.83B 135.53% 6.27% 3.28 2.29B 14.09
Image of page 28
Top Three Issues Facing Industry Issues Solutions Lack of quality customer service Airlines should limit the amount of Controversy over the adoption of IFRS standards The adoption of the IRFS standards is definite therefore accounting firms should prepare for the change by issuing training sessions to successfully adapt Employee complaints due to extremely long hours, no work/life balance Better benefits, care packages, and incentives to compensate for long work hours Delta Airlines Issues & Solutions Issues Solutions High fines due to regulation fines Better supervision of personnel Increasing prices of oil Weigh the financial cost to fuel aircraft to manage larger aircrafts more efficiently
Image of page 29

Subscribe to view the full document.

Rising customer complaints Focus on customer service through quality surveys, increasing employee morale, and customer first attitude United Airlines Issues & Solutions Issues Solutions Rising Fuel Cost Utilize new revolutionary fuel supplement being developed in Canada Computer system difficulties Fine tune programming, database, and communication links
Image of page 30
Image of page 31
You've reached the end of this preview.
  • Spring '13
  • Ashley
  • Accounting Industry

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern