Accounting Fraud: Maneuvering and Manipulation, Past and PresentScandals relating to manipulation and fraud have dominated much of the history of business and the accounting profession in America since the founding. Crooks, corruption, scandals and panics have been regular features of the business landscape ever since, with regulations and the expansion of financial disclosure, auditing, and regulatory agencies following major debacles. The importance of this topic is demonstrated by the major accounting and finance scandals of the 21st century, some of the most destructive in our history, including Enron and the multi-trillion dollar real estate crises. This pair of scandals has an extensive number of companions (if less severe and not as well known). The types of violations, causes, and results are equally valid and continue to be of concern today. This short book reveals the signs that suggest financial corruption in organizations and proposes remedies to contain it and prevent its recurrence. It can be used as a supplementary source in introductory financial accounting courses (elementary and intermediate), accounting- and finance-related MBA courses, and business history; or it can be used as part of forensic accounting and fraud detection for continuing education. In addition, it can be useful for accounting and finance professionals wanting exposure to financial disclosure issues and other accounting risks, along with executives looking to expand their knowledge of accounting fraud and risk areas. |
Contents
Introduction | |
Accounting Scandals a Historical Perspective | |
Business and Scandals before the Securities and Exchange | |
Great Depression and Reforms | |
War and PostWorld War II Business and Corruption | |
Tech Bubble Bust and Bankruptcies | |
Subprime Meltdown and Beyond | |
The Future of Fraud and Scandals | |
Notes | |
Biblography | |
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Accounting Fraud: Maneuvering and Manipulation, Past and Present Gary Giroux No preview available - 2014 |
Common terms and phrases
19th century abuse accounting fraud accounting standards acquisition American Andersen Arthur Andersen assets auditing standards auditors bailout bankruptcy Bear Stearns became billion bribery bubble capital cash collapse Commission Committee companies Congress corporate corruption cost crash created Credit Mobilier debt depression deregulation derivatives disclosure dollars earnings economic enforcement Enron equity Erie executive compensation fair value Federal Reserve financial statements firms Goldman Sachs hedge funds hostile takeovers illicit incentives increased industry innovations insider trading interest investigated investment banks investors issues J.P. Morgan jail junk bonds loans longterm major manipulation massive merger Milken mortgage NYSE Panic Pecora Pecora Commission political Ponzi Ponzi scheme president profits railroads rates reform regulations regulatory restatements Retrieved scandals securities shortterm special purpose entities speculation SPEs stock price stockholders structured finance subprime meltdown substantial Treasury Wall Street WorldCom York