| A.
R. Kakhsaz Company
an accountancy corporation
Member
American Institute of
Certified Public Accountants
International associates:
Tavana & Co.
Chartered Accountants
Toronto, Canada
Tel.416-229-2221
|
Fraud is prevalent: Occupational fraud in the
U.S. has become the crime of the 21st century. Six percent of
business revenues are lost each year due to occupational fraud and
abuse. That's an estimated $700 billion per year, or approximately
$5,200 per employee per year. One half of the frauds cause losses of
at least $100,000 and nearly one in six cause losses in excess of $1
million. The average fraud scheme lasts 18 months before it's
detected. The most common fraud is a tip from an employee, customer,
vendor, or anonymous source. The second most common way is by pure
accident. The typical perpetrator is a first time offender.
Only 7% of the perpetrators have a prior fraud related conviction.
Small businesses are the most vulnerable. The average small business
fraud scheme causes $127,000 in losses while the average scheme in large
companies causes $97,000 in losses! Why? Because of the
tighter internal accounting controls in the larger organizations.
You
are from California if
(Part 3 of
7)
Gas costs $1 per gallon more
than
anywhere else in the
U.S.,
The guy at Starbucks' wearing a
baseball
cap and sunglasses at
8:30 a.m. who looks
like George Clooney
actually is George
Clooney, and
You can't
remember ....... Is pot legal?
The federal
income-tax law is made up of 1.5 million words.
Costly medical bills
are the cause of half of all personal bankruptcies.
That's despite the fact that most of such bankrupt people do have health
insurance.
Out of options:
U.S. businesses are required to treat stock options as an expense.
The sobering new rules will take effect in June.
International trade with
Iran in 2003:
| EU |
$22.7 Billions |
| Japan |
9.2 |
| China |
6.4 |
| Korea |
4.2 |
| U A E |
3.2 |
For more of the Generalist, please visit our website
at ARKCPACOM.
|
theGeneralist, a one-page monthly
publication of the accounting firm of A. R. Kakhsaz Company,
is in its 11th year of providing information, presented fairly and
accurately, from sources we can depend upon and trust.
Home-price
appreciation skyrocketed at the end of
2004. 62 out of 129 metropolitan areas across the U.S. saw
home prices rise 10% or more. That's a record. Here's
the percentage increase in home prices at the end of 2004 over that
of the previous year:
| Las Vegas, NV |
47% |
| Riverside/San Bernardino, CA |
35 |
| West Palm Beach, FL |
34 |
| Sacramento, CA |
32 |
| Washington, DC |
27 |
| Fort Lauderdale, FL |
26 |
| Miami, FL |
26 |
| Reno, NV |
26 |
| San Diego, CA |
25 |
| Los Angeles, CA |
24 |
| Orlando, FL |
22 |
| Orange County, CA |
19 |
| Tucson, AZ |
19 |
Republican
governors of California and New York are pressuring the U.S.
Congress to protect the provisions of the Clean Air Act from
President Bush's trying to change them.
56% of NFL players
are considered obese. But the league argues that the surplus
poundage is muscle not fat.
There's a 36%
chance of a decline in home-prices within
the next two years in Los Angeles, Long Beach and Santa Anna areas
and a 32% chance for Riverside, San Bernardino and Ontario areas of
California.
The IRS's annual
"Dirty Dozen" list of
"notorious tax scams," published recently, includes
"abuse of charitable organizations and deductions."
Greenspan told Bush
advisors that a complete shift away from
the income tax system should not be tried.
We see more in numbers
than just numbers...
Ali R. Kakhsaz, CPA, MAcc
www.arkpca.com
|
