ZZZZ BEST COMPANY, INC. Source: Contemporary Auditing: Issues & Cases - Michael Knapp On May 19, 1987, a short article in The Wall Street book reported that ZZZZ Best Company, Inc., of Reseda, California, had signed a contract for a $13.8 million in¬surance restoration project. This project was just the to the highest spacious point recent of a series of large restoration jobs obtained by ZZZZ Best (pronounced zee best) Company. Located in the San Fernando valley of southern California, ZZZZ Best had begun operations in the fall of 1982 as a small, door-to-door carpet cleaning operation. Under the tick of Barry Minkow, the ambitious sixteen-year-old who founded the lodge and initially operated it out of his parents garage, ZZZZ Best go through explosive growth in both revenues and shekels during the original several years of its existence. In the three-year period from 1984 to 1987, the com¬panys bread income surged from less than $200,000 to more than $5 million on reve-nues of $50 million. When ZZZZ Best went public in 1986, Minkow and several of his snug associ¬ates became multimillionaires overnight. By the late spring of 1987, Minkows stock in the company had a market value exceeding $ ampere-second million, and the perfect market value of ZZZZ Best surpassed $200 million.
The youngest capitulum executive officer in the nation enjoyed the good life, which include an reckon home in an exclusive suburb of Los Angeles and a fire-engine tearing Ferrari. Minkows charm and entrepreneurial genius make him a sought- aft(prenominal) commodity on the television run out l aunch circuit and caused the print and visua! l media to tout him as an warning of what Americas youth could attain if they would however halt them¬selves. During an carriage on The Oprah Winfrey Show in April 1987, Minkow exhorted his peers with evangelistic vehemence to Think big, be big and encouraged them to stick to his individualised motto, The sky is the limit. Less than two years after his appearance on The Oprah Winfrey Show, Barry Minkow...If you want to get a full essay, regulate it on our website:
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