I’m working on a accounting report and need an explanation to help me understand better.
You have been hired by Wells Fargo Shareholders to review the recent scandal at Wells Fargo. They have asked that you write a report that assesses the firm and more importantly addresses the issues noted below and to communicate your findings and recommendation in a final report.
All your sources of information must be clearly referenced. The assignments must be based on research, using online and global library resources and demonstrate your understanding of the readings and course concepts.
Your project grade will be divided between 90% for content (critical analysis, quality, and variety of research) and 10% for organization and presentation style. Organization refers to readability, flow, logic, professional organization and writing mechanics of the report. It should be clear, concise, with a logical flow of thoughts and ideas. It is important to use theory and concepts from your readings and class discussions to frame the information you present.
This is a business presentation; be sure to use headings and subheads as outlined. A recommended outline is shown below:
The Report for your Client:
(Approx. 7-10 pages)
A) Assessment of the firm
Conduct an internal assessment of the firm (Use Library resources to get a report about the company)
B) Industry Overview:
You will be examining the industry from every possible perspective. Areas you will consider include: Economic and business environment, political environment, cultural analysis, industry environment, market opportunity
C). Financial Summary – Wells Fargo Performance that might have drove them to set unrealistic goals in order to increase revenues
D) Address the Key issues:
• Would the system have worked better if coupled with additional metrics or controls?
• What systems should have been put in place to identify and escalate potential problems earlier?
• What steps should senior management have taken to better contain the fallout?
• Is an inside or outside CEO successor better positioned to help the bank recover?
E) FInal Recommendation:
What organizational structure and controls would you put in place to avoid possible fraud in the future?
F) Summary of Report
Organization and Mechanics of report:
Report should be well-‐organized, clear, and easy to read, laid out effectively, using headings, sub-‐heads and bullets. Paper should be well coordinated among team members. Points deducted for grammatical and spelling errors.
Additional Resources Bibliography:
Wells Fargo & Company SWOT Analysis:
Wells Fargo Fined $185 Million for Fraudulently Opening Accounts
The Wells Fargo Fake Accounts Scandal Just Got a Lot Worse
How Wells Fargo’s Cutthroat Corporate Culture Allegedly Drove Bankers to Fraud
Former Wells Fargo Employees Describe Toxic Sales Culture, Even At HQ
https://www.npr.org/2016/10/04/496508361/former-wells-fargo-employees-describe-toxicsales-culture-even-at-hq (Links to an external site.)
Wells Fargo Warned Workers Against Sham Accounts, but ‘They Needed a Paycheck’
https://www.nytimes.com/2016/09/17/business/dealbook/wells-fargo-warned-workersagainst-fake-accounts-but-they-needed-a-paycheck.html (Links to an external site.)
Wells Fargo’s pressure-cooker sales culture comes at a cost
http://www.latimes.com/business/la-fi-wells-fargo-… (Links to an external site.)