Accounting scandals

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  • Toshiba Accounting Scandal Essay

    MGMT 512 – Exam I Naci Yüksel - 0037094 Page 1 of 2 Toshiba’s Accounting Scandal Toshiba is a leading Japanese multinational conglomerate which provides diversified products and services such as electronics, home appliances, information & communications systems, medical equipment and power systems. The company was founded in 1875 to pioneer in high technology not only in Japan but also anywhere in the world (“About Toshiba”). Unfortunately, an independent investigation had revealed one of Japan’s biggest accounting scandals in 2015 just after the 2011 Olympus scandal – another major technology company concealed $1.7 billion losses starting from the early 1990s. It was also a surprising news in the face of Japanese Prime…

    Words: 940 - Pages: 4
  • Enron Accounting Scandal

    When discussing two of the world’s major accounting scandals, it’s important to first define what a “scandal” is. The most applicable definition is as follows: “an action or event regarded as morally or legally wrong and causing general public outrage.” Enron and WorldCom have certainly caused public outrage through their illegal, immoral, and unethical actions. While each scandal is in itself an expansive episode, they each have similarities and have both impacted the industry in ways that were…

    Words: 1425 - Pages: 6
  • A Summary Of Accounting Fraud

    organization have practised illicit practices and illegal acts such as intentional deception (showing skewed results), misrepresentation of accounting information which is directed to result in profit to an individual and group of people. We can say that any illegal activities done by an individual or a group with the intention of making more money for organization when caught by the authorities or by any other means comes under Accounting Scandal. There are several accounting practice, which…

    Words: 703 - Pages: 3
  • Sherron Wilkinson Enron Fraud Case

    Sherron Watkins, former vice president of Enron Corporation, plays a pronounced part in the history of whistleblowers who blew the whistle on corporate companies. Sherron Watkins blew the whistle on Enron in 2001 by sending a memo to Kenneth Lay, the founder of Enron, giving caution she knew the company was at a great risk of finding themselves in a dilemma. The dilemma would be the product of many financial accounting scandals. Enron is a company that buys and sales energy from different…

    Words: 1017 - Pages: 5
  • Business Ethics: Tyco Scandal

    The purpose of this report is to explore three major corporate scandals with regard to their irresponsible ethical behaviour and the lessons that can be learned from each. The three companies examined in this report include Tyco International Ltd, HealthSouth Corporation and Nimble Pty Ltd. Results of this report show that corporate scandals occur periodically and can have an effect on other companies with the first scandal occurring in 2002 by Tyco and then followed by HealthSouth in 2003 and…

    Words: 938 - Pages: 4
  • Satam Scam Case Study

    SATYAM SCANDAL- INDIA’S OWN ENRON The Satyam Computer Services Limited company’s wrongdoing is a corporate scam that occurred in India in 2009 where the chairman, Mr. Ramalinga Raju revealed that the company’s accounts had been falsified. Background In 1987, Ramalinga Raju established Satyam, with his brother and brother in law, for providing software development and consultancy services to large firms. The company became public in 1991 and was listed on the Bombay Stock Exchange (Balachandran…

    Words: 861 - Pages: 4
  • Enron Financial Scandal Summary

    - Historic Enron Financial Scandal The merger between Houston Natural Gas and InterNorth produced Enron in 1985 which started off slowly specializing in the natural gas and then grew to start increasing its product range. Kenneth Lay founded Enron and became Enron’s Chairman and CEO. However, Enron management aggressively decided the need to grow faster, increase investor’s confidence, attract more investments and increase their credit rating. In order to achieve their vision, the company…

    Words: 1534 - Pages: 7
  • Phar Mor Fraud Case Study

    in reality the company was losing money. Between shortages and overbilling of inventory, moving company funds for personal uses, and the embezzlement of funds from Phar-Mor into WBL, Monus was finally in the spotlight and being investigate. In 1992, Phar-Mor went bankrupt after being accused of embezzlement. Due to this investigation, it also came to light that Phar-Mor’s independent audit company, Coopers & Lybrand LLP, was also involved with the fraudulent activities; charges were also…

    Words: 1109 - Pages: 5
  • Toshiba Accounting Scandal Case Study

    Issues In Corporate Governess Various issues keep on popping in various corporate from time to time but i have chosen one of the most famous case of its time. Toshiba Accounting Scandal Toshiba Corporation is a Japanese multinational conglomerate corporation having its headquartered in Tokyo, Japan. In 2010, Toshiba was the world's fifth-largest personal computer producer. It has vast variety of products including information technology and communications equipment and systems, electronic…

    Words: 1353 - Pages: 6
  • Enron: The Best Way To Rob A Bank

    the peak to $90 dollars. Nevertheless, in such short time with some simple tips and complex tips, Enron plunged into a major scandal in the history, and very quickly, in December 11-2001, Enron 's stock price dropped to $1, a day before bankruptcy in February 12-2001. Enron filed for bankruptcy protection. With assets of $63.4 billion, this is the biggest bankruptcy in U.S history. Many of Enron executives were convicted and sent to jail. Among them, two top leaders Jeffrey Skilling and Kenneth…

    Words: 776 - Pages: 4
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