EDNA Vlog

Quality and ethics are the hallmark characteristics of the accounting profession. Recently enacted and proposed updates to the …

#moneylaundering #dirtymoney #wallstreetmojo #taxhavens #financialcrime In this video, we will cover Money Laundering: Examples and Prevention. We have covered the introduction and stages of money laundering in our previous video. Chapters: 00:00 – Introduction 00:22 – Some examples of money laundering 02:07 – How to prevent money laundering? 02:29 – No. 1 – Making it a crime in the first place 02:49 – No. 2 – Build sound legal frameworks 03:21 – No. 3 – Integrating different governmental departments 03:49 – No. 4 – Countries cooperating 04:20 – Conclusion (Explained in detail in the video) Some examples of money laundering Pablo Escobar used to earn tons of money through his drug cartel in Mexico. He laundered his money by starting a taxi company on paper and making his drug money seem like it was coming from the taxi business. (Explained in detail in the video) There have been various reports of drug and arms dealers opening businesses or shell companies in tax haven countries like the Cayman Islands to launder their money. The criminals then set up fast food chains and all sorts of companies that have high cash flow. (Explained in detail in the video) They would then send all this money back to the bank accounts set up in the tax haven countries in the name of the shell companies. How to prevent money laundering? Making it a crime in the first place Countries, where money laundering isn’t yet a crime should first pass laws to declare it as a crime. (Explained in detail in the video) Build sound legal frameworks One can do this by strengthening the existing legal system by bringing stricter rules and policies that people and companies must follow. Integrating different governmental departments The friction and non-cooperation between several governmental departments sometimes make it difficult to crack down on money laundering. (Explained in detail in the video) What the governments should do here is to increase the cooperation between such departments and make them work in tandem. Countries cooperating The criminals have now become smart. They don’t launder their money in a single country now. (Explained in detail in the video) They make sure to have multiple countries involved and benefit from the lack of smooth communication among countries. That’s why all countries have to come together and form a network where they can share information and help prevent money laundering from happening and causing damage. (Explained in detail in the video) So, In this video we covered Money Laundering: Examples and Prevention. We have covered introduction and stages of money laundering in our previous video. So do check that video if you have not yet. We hope you have learned much from this video. If you think you did, show it to us by liking the video, commenting, and sharing it with others. We post videos on such topics regularly, so if you don’t want to miss out, subscribe to the channel. ========================================================================== Subscribe to Our Channel – Youtube ► https://www.youtube.com/channel/UChlNXSK2tC9SJ2Fhhb2kOUw?sub_confirmation=1 LinkedIn ► https://www.linkedin.com/company/wallstreetmojo/ Facebook ► https://www.facebook.com/wallstreetmojo Instagram ► https://www.instagram.com/wallstreetmojoofficial/ Twitter ► https://twitter.com/wallstreetmojo

Days sales in inventory (DSI) is the number of days it takes a company to sell its inventory. Days sales in inventory is also called days to sell inventory, inventory days, days sales of inventory, and inventory days. Days sales in inventory is calculated by dividing 365 by the company’s inventory turnover: Days sales in inventory = 365 / inventory turnover Inventory turnover = cost of goods sold / average inventory Days sales in inventory (DSI) is inversely related to inventory turnover. A low DSI means high inventory turnover (good for the company). A high DSI means low inventory turnover (bad for the company). To sign up for the email list, click here: http://eepurl.com/dIaa5z To support me on Patreon, click here: https://www.patreon.com/prof_mclaughlin 0:00 Introduction 0:06 How to calculate DSI 0:26 Don't use ending inventory 0:45 Example of DSI calculation 1:38 Inverse relation of DSI to turnover 1:52 Benefits of low DSI 2:11 Disadvantages of high DSI 2:28 Free PDF guide and Excel file — Edspira is the creation of Michael McLaughlin, an award-winning professor who went from teenage homelessness to a PhD. Edspira’s mission is to make a high-quality business education freely available to the world. — SUBSCRIBE FOR A FREE 53-PAGE GUIDE TO THE FINANCIAL STATEMENTS, PLUS: • A 23-PAGE GUIDE TO MANAGERIAL ACCOUNTING • A 44-PAGE GUIDE TO U.S. TAXATION • A 75-PAGE GUIDE TO FINANCIAL STATEMENT ANALYSIS • MANY MORE FREE PDF GUIDES AND SPREADSHEETS * http://eepurl.com/dIaa5z — SUPPORT EDSPIRA ON PATREON *https://www.patreon.com/prof_mclaughlin — GET CERTIFIED IN FINANCIAL STATEMENT ANALYSIS, IFRS 16, AND ASSET-LIABILITY MANAGEMENT * https://edspira.thinkific.com — LISTEN TO THE SCHEME PODCAST * Apple Podcasts: https://podcasts.apple.com/us/podcast/scheme/id1522352725 * Spotify: https://open.spotify.com/show/4WaNTqVFxISHlgcSWNT1kc * Website: https://www.edspira.com/podcast-2/ — GET TAX TIPS ON TIKTOK * https://www.tiktok.com/@prof_mclaughlin — ACCESS INDEX OF VIDEOS * https://www.edspira.com/index — CONNECT WITH EDSPIRA * Facebook: https://www.facebook.com/Edspira * Instagram: https://www.instagram.com/edspiradotcom * LinkedIn: https://www.linkedin.com/company/edspira — CONNECT WITH MICHAEL * Twitter: https://www.twitter.com/Prof_McLaughlin * LinkedIn: https://www.linkedin.com/in/prof-michael-mclaughlin — ABOUT EDSPIRA AND ITS CREATOR * https://www.edspira.com/about/ * https://michaelmclaughlin.com

What is an entry-level accounting job that I recommend if you don't have A bachelor's degree in accounting? #shorts Enroll in the Controller Academy 🚀 https://thefincontroller.com/p/controller-academy —————————— My other best selling courses: 🔥Take 30% off when you enroll in my online course “Night Before the Accounting Interview Guide” including All Levels Q&A🔥: https://thefincontroller.com/p/the-night-before-your-accounting-interview-course-for-all-levels?coupon_code=30OFFCOURSE 📈Get My “Controller KPI Dashboard” (Excel + Course) with the most important P&L and Balance Sheet KPIs: ​https://thefincontroller.com/p/controller-kpi-dashboard-one-kpi-dashboard-to-run-a-business​ ——————————————————————— Hang Out with me on social media: 📸 https://www.instagram.com/the_financial_controller/ 📱https://www.tiktok.com/@thefinancialcontroller 🙋🏼‍♂️https://www.facebook.com/groups/780732429036886/?source_id=101273467885666 DISCLAIMER: Links included in this description might be affiliate links. If you happen to purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting my channel so I can continue to provide you with free content each week! All views expressed on my channel are mine alone. Not intended as financial or professional advice

In this video, you will learn about money laundering, the Introduction to money laundering and the Stages of it. #moneylaundering #dirtymoney #wallstreetmojo #taxhavens #financialcrime Chapters: 00:00 – Introduction 00:31 – What is money laundering? 00:46 – Dirty money 01:27 – Cleaning of dirty money 01:27 – What is Clean money 01:59 – Why is money laundering is bad? 02:06 – No. 1 – Encourages criminals to keep going 02:32 – No. 2 – Harms the society 02:56 – No. 3 – Harms the Economy 03:33 – Stages of money laundering 03:50 – No. 1 – Placement 04:24 – No. 2 – Layering 05:06 – No. 3 – Integration 05:46 – Conclusion What is money laundering? Criminals like Pablo Escobar and ElChapo earn their money through crimes and get their money put into the system through money laundering. So, money laundering is getting dirty money cleaned and put into the system, making it seem like clean money. Dirty money Dirty money is something acquired through illegal means. People who get dirty money cannot show it to the authorities, or they will catch them. Cleaning of dirty money To get dirty money in the bank accounts, they must make it seem clean or legally acquired. Hence, the dirty money gets cleaned. Clean money There are many ways through which one can clean such dirty money. Once cleaned, the money is clean and can be put back into the system without tracing its origins. (Explained in detail in the video) Why is money laundering is bad? Encourages criminals to keep going Once criminals know that their dirty money can be cleaned and put back into the system as clean money, they realize there are no consequences to what they do. Hence, they continue their crimes. Harms the society These criminal activities are only harming society and putting loads of money into the pockets of the criminals. Harms the economy Any harm to society will directly harm the economy. Money laundering covers tax frauds, embezzlements, theft, and other illegal economic activities. (Explained in detail in the video) Stages of money laundering Placement The dirty money is first transferred into a bank account, mostly abroad, in those banks with very strict privacy policies. Layering The money is then divided into chunks and sent into accounts in various countries to make it hard to track by authorities. Integration The money must be brought back into the system and shown as legal. This is done by setting up a business with high cash flow on paper, and the money can be made legal through such tactics. (Explained in detail in the video) So, in this video we covered introduction and stages of money laundering. We hope you have learned much from this video. If you think you did, show it to us by liking the video, commenting, and sharing it with others. We are having another video on Money Laundering: Examples and Prevention . So do subscribe to our channel if you have not yet! We post videos on such topics regularly, so if you don’t want to miss out, subscribe to the channel. ========================================================================== Subscribe to Our Channel – Youtube ► https://www.youtube.com/channel/UChlNXSK2tC9SJ2Fhhb2kOUw?sub_confirmation=1 LinkedIn ► https://www.linkedin.com/company/wallstreetmojo/ Facebook ► https://www.facebook.com/wallstreetmojo Instagram ► https://www.instagram.com/wallstreetmojoofficial/ Twitter ► https://twitter.com/wallstreetmojo Hashtags: #moneylaundering #taxevasion #taxhavens #taxfrauds #financialcrime #druglords #dirtymoney #drugmoney #illegalmoney #shellcompanies

Join us on Nov 14 – Nov 16, 2022 for the AICPA & CIMA Expert Witness Skills Workshop and learn how to combine confidence, credibility, and authority with a command of the courtroom. Register before August 30 & save $100! #aicpa #cima #expertwitnessskillsworkshop #aicpaconferences

Join us on Nov 14 – Nov 16, 2022 for the AICPA & CIMA Expert Witness Skills Workshop and learn how to combine confidence, credibility, and authority with a command of the courtroom. Register before August 30 & save $100! #aicpa #cima #expertwitnessskillsworkshop #aicpaconferences

In this video, you will learn what a golden handshake is and some pros and cons of it. #goldenhandshake #employeebenefit #wallstreetmojo #compensation #severancepackage Chapters: 00:00 – Introduction 00:49 – What is a golden handshake? 01:25 – Why do companies have the golden handshake? 01:40 – To convince people to take the risky senior roles 02:05 – To compete with other companies in terms of compensation offered 02:33 – To provide financial stability to employees during unemployment 03:06 – Downsides to the golden handshake 03:14 – Not based on performance 03:46 – Conflict of interest 04:11 – Golden shove 04:44 – Golden handshake vs Golden handcuffs 05:22 – Conclusion (Explained in detail in the video) What is a golden handshake? Companies enter a clause in their employees' employment contracts that the company shall pay the employee a certain amount when they leave the company and are employed no longer by the company. The employee can leave for any reason, and the compensation can be in any form. (Explained in detail in the video) Why do companies have the golden handshake? To convince people to take the risky senior roles. Senior roles in companies come with many responsibilities and require a certain level of risk-taking. (Explained in detail in the video) Many people may not be up for it. That’s why companies provide additional compensation for such roles. (Explained in detail in the video) To compete with other companies in terms of compensation offered. Employees can always get better offers from other companies, and there is always the risk of them joining rival companies. Hence, companies can have a golden handshake with their employees to convince them to stay. (Explained in detail in the video) To provide financial stability to employees during unemployment. Employees who leave the company will not have a salary to live on. The compensation received from the golden handshake can pay the bills while they can look for another job. (Explained in detail in the video) Downsides to the golden handshake Not based on performance The golden handshake does not consider performance. Therefore, even if employees perform badly, they can still walk away with the golden handshake compensation. (Explained in detail in the video) Conflict of interest The golden handshake clause in the employment contract may not encourage employees to perform better, leading to conflict of interest. (Explained in detail in the video) Golden shove Companies may use the golden handshake to make employees leave the company. (Explained in detail in the video) Golden handshake vs. golden handcuffs In a golden handshake, compensation is given to the employee when they leave the company. In golden handcuffs, compensation is given to the employee to remain in the company and not leave. (Explained in detail in the video) So, this was all about the golden handshake, and we hope you liked the video. So, show it to us by liking the video, commenting, and sharing it. Don’t forget to subscribe to the channel so that you don’t miss out on such videos we post regularly. ========================================================================== Subscribe to Our Channel – Youtube ► https://www.youtube.com/channel/UChlNXSK2tC9SJ2Fhhb2kOUw?sub_confirmation=1 LinkedIn ► https://www.linkedin.com/company/wallstreetmojo/ Facebook ► https://www.facebook.com/wallstreetmojo Instagram ► https://www.instagram.com/wallstreetmojoofficial/ Twitter ► https://twitter.com/wallstreetmojo

Discover How to Make Money Online Fast and Easy. Go to https://www.bizmove.com to get a free business plan template, plus dozens of tools for managing and starting a business, featuring dozens of templates, books, worksheets, tools, software, checklists, videos, manuals, and spreadsheets. All completely free, no strings attached. Also see here how I managed to save hundreds on car insurance (my dirty little trick): https://www.bizmove.com/auto-car-insurance.