'Recent Accounting Scandals '

'Financial inform Ethics\n\nAdelphia\n1. joke Rigas, oppositewise Rigas family members, Michael Mulcahey\n2. Adelphia okay glum-the-book loans for the Rigas family totaling 3.1 billion dollars. The party also misinform earnings and purchased luxury items for the Rigas family.\n3. Companies are conjectural to serve the transmitholders interests and non the founders interests. The Rigas family viciously utilise the money and the resources of the union for their knowledge gain.\n4. funds was stolen from the trade and the take damage unload and was taken off the charts.\n5. The Rigas family precious to r knocked disclose(p)ine the comp whatever resources for their own gain and were helped by people in the company.\n6. Shareholders had money stolen from them and helpless money when the business price fell.\n\nArthur Anderson\n1. David B. Duncan\n2. sign-language(a) off on Enrons untimely rule of accounting and consequently shredded tie in documents after the irregular launched an investigation into Enrons accounting.\n3. An auditor moldiness await at a companies fiscal statements objectively. It is also illegal to destroy development that is part of an investigation.\n4. Arthur Anderson and Enron went out of business.\n5. Anderson knew if they confronted Enron about their imperfect accounting they would fall back their account.\n6. Arthur Anderson went out of business and their employees had to find jobs elsewhere. Owners of germinate in Enron and Arthur Anderson deep in thought(p) money.\n\nEnron\n1. chief executive officer Kenneth Lay, chief financial officer Andrew Fastow\n2. Inflated boodle with off-the-books partnerships. Illegally manipulated the cogency merchandises in Texas and California.\n3. Enron fraudulently made it pop out that they were making more(prenominal)(prenominal) money than they genuinely were. They also pressure energy prices up using ambiguous and in near cases illegal methods.\n4. Enron filed the largest unsuccessful person in score and took their auditor, Arthur Anderson down with them. Their soften brought the stock market down and brought the accounting practices of many other companies under scrutiny.\n5. forethought wanted to increase profits and Enrons stock price using any and every method available.\n6. Employees broken their assure savings in 401k plans. All stockholders lost money.\n\n\n world(prenominal) crossing\n1. Ex-CEO Robert Annunziata\n2. Inflated taxation by swapping communicate capacity with other providers. Provided excess pay to management.\n3. Swapping chooses made it look like spheric Crossing was doing more business than they truly were. Their CEO contract was also criticized by many for large too much(prenominal) compensation to the CEO, this whitethorn have been a result of a lack of becoming corporate governance.\n4. Global Crossing went out of business.\n5. Management wanted the company to look more pleasing to investors.\n 6. Stockholders and employees.\n\nHealthSouth\n1. Chairman and CEO Richard Scrushy, CFO William T. Owens\n2. overstated earnings by 1.4 billion dollars.\n3. non adhering to GAAP, fraud.\n4. Company stock price...If you want to occur a generous essay, order it on our website:

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