'Recent Accounting Scandals '

'Financial reportage Ethics\n\nAdelphia\n1. bath Rigas, an some other(prenominal) Rigas family members, Michael Mulcahey\n2. Adelphia back reach-the-book loans for the Rigas family totaling 3.1 billion dollars. The companion also exaggerate earnings and purchased prodigality items for the Rigas family.\n3. Companies are supposed(a) to serve the ripholders interests and non the founders interests. The Rigas family iniquitously employ the money and the resources of the high society for their have got gain.\n4. rightty was stolen from the lineage and the railway line toll brutal and was taken off the charts.\n5. The Rigas family cherished to put on the comp either resources for their own gain and were helped by people in the company.\n6. Shareholders had money stolen from them and woolly-headed money when the subscriber line price fell.\n\nArthur Anderson\n1. David B. Duncan\n2. sign(a) off on Enrons ill-timed system of accounting and then(prenominal) shredde d related documents after the arcsecond launched an investigation into Enrons accounting.\n3. An auditor moldiness olfactory sensation at a companies financial statements objectively. It is also illegal to destroy development that is part of an investigation.\n4. Arthur Anderson and Enron went show up of business.\n5. Anderson knew if they confronted Enron ab show up their unseasonable accounting they would draw back their account.\n6. Arthur Anderson went out of business and their employees had to find jobs elsewhere. Owners of ancestry in Enron and Arthur Anderson incapacitated money.\n\nEnron\n1. chief executive officer Kenneth Lay, chief financial officer Andrew Fastow\n2. Inflated profit with off-the-books partnerships. Illegally manipulated the postcode trades in Texas and California.\n3. Enron fraudulently made it issue that they were making to a greater extent money than they genuinely were. They also agonistic energy prices up using obscure and in round ca ses illegal methods.\n4. Enron filed the largest unsuccessful person in recital and took their auditor, Arthur Anderson down with them. Their die brought the stock market down and brought the accounting practices of many other companies under scrutiny.\n5. perplexity wanted to augment profits and Enrons stock price using any and every method available.\n6. Employees garbled their support savings in 401k plans. All stockholders lost money.\n\n\n spherical point of intersection\n1. Ex-CEO Robert Annunziata\n2. Inflated taxation by swapping earnings capacity with other providers. Provided excess fee to management.\n3. Swapping cartels made it project like planetary Crossing was doing more business than they in reality were. Their CEO contract was also criticized by many for grownup too some(prenominal) compensation to the CEO, this whitethorn have been a result of a lack of proper corporate governance.\n4. Global Crossing went out of business.\n5. Management wanted th e company to look more winning to investors.\n6. Stockholders and employees.\n\nHealthSouth\n1. Chairman and CEO Richard Scrushy, CFO William T. Owens\n2. magnify earnings by 1.4 billion dollars.\n3. non adhering to GAAP, fraud.\n4. Company stock price...If you want to incur a plentiful essay, order it on our website:

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