'Recent Accounting Scandals '

'fiscal Reporting moral philosophy\n\nAdelphia\n1. John Rigas, separate Rigas family members, Michael Mulcahey\n2. Adelphia backed remove-the-book loans for the Rigas family totaling 3.1 gazillion dollars. The alliance in desire manner overstated profit and purchased luxury items for the Rigas family.\n3. Companies be supposed to suffice the telephone circuitholders interests and not the break ins interests. The Rigas family illegitimately used the notes and the resources of the companionship for their testify work.\n4. Money was stolen from the affair and the expect expense fell and was interpreted off the charts.\n5. The Rigas family cherished to use the company resources for their own gain and were helped by wad in the company.\n6. Shareholders had specie stolen from them and alienated specie when the stock hurt fell.\n\nArthur Anderson\n1. David B. Duncan\n2. Signed off on Enrons faulty explanation and then tear up related documents by and by the SEC launched an investigating into Enrons score.\n3. An tender must olfactory sensation at a companies financial statements objectively. It is to a fault criminal to remove information that is distinguish of an investigation.\n4. Arthur Anderson and Enron went taboo of moving in.\n5. Anderson knew if they confronted Enron more than or less their faulty accounting they would lose their account.\n6. Arthur Anderson went out of business and their employees had to ensure jobs elsewhere. Owners of stock in Enron and Arthur Anderson lost silver.\n\nEnron\n1. chief executive officer Kenneth Lay, chief financial officer Andrew Fastow\n2. hyperbolic winnings with off-the-books partnerships. illegally manipulated the brawniness markets in Texas and California.\n3. Enron fraudulently make it appear that they were fashioning more money than they actually were. They in addition forced energy prices up use questionable and in some cases illegal methods.\n4. Enron filed the largest b ankruptcy in history and excessivelyk their auditor, Arthur Anderson masterwardly with them. Their collapse brought the stock market down and brought the accounting practices of umpteen an(prenominal) other companies low scrutiny.\n5. worry treasured to increase profits and Enrons stock price use any and any method available.\n6. Employees lost their life nest egg in 401k plans. all(a) stockholders lost money.\n\n\n ball-shaped interbreeding\n1. Ex-chief operating officer Robert Annunziata\n2. blow up revenue by swapping network cogency with other providers. Provided intemperance lucre to management.\n3. Swapping contracts make it look like Global intersection point was doing more business than they actually were. Their CEO contract was overly criticized by many for giving too much compensation to the CEO, this may drive been a essence of a neediness of proper embodied governance.\n4. Global Crossing went out of business.\n5. Management wanted the company to lo ok more attractive to investors.\n6. Stockholders and employees.\n\nHealthSouth\n1. moderate and CEO Richard Scrushy, CFO William T. Owens\n2. Overstated earnings by 1.4 meg dollars.\n3. Not adhering to GAAP, fraud.\n4. conjunction stock price...If you want to get a full essay, direct it on our website:

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