Accounting scandals

The business scandal that occurred at Fannie Mae Chocolate Industry was when they manipulated accounting to collect millions of dollars in underserved bonuses and deceive investors. They were fined for 400 million dollars. Fannie Mae struggled to emerge from an $11 billion accounting scandal.The penalty that was given for them was the largest penalty ever in a accounting fraud case.The company also agreed to limit the growth of its multibillion-dollar mortgage holdings. Fannie Mae never admitted…

Introduction - 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…

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…

in the US, Enron had reported sales reached $101 billion in 2000, and also in year 2012, the share price of Enron climbed 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…

In elementary school, I struggled with the comprehension of the material in my classes. Although, this was a simpler time period in my school career I never excelled in any specific subject until middle school. I have always suffered through Writing and English courses, but began to transcend in math at age eleven. It was at this age where I began to rationally think about my career options in this field. At the time, and even today still, I was intrigued by fashion. Anything from the runways to…

HP splitting itself into two firms is a result of bad acquisitions over the years that ultimately led them into further debt and free fall stock prices. The acquisition of Compaq cost the company 25$ billion along with Autonomy for another 11$ billion. Prices paid were costly and ultimately that led to a share drop of fifty percent. While major competitors continue to exponentially grow such as Dell, IBM, Apple, and Cray all HP can fonder is the major debt pile built. The only resolve to…

concealment is used for identity and white collar crimes are used to mask the crime. As Andrew Fastow CFO was the highest ranking Enron executive who was found guilty of lying about the books. He was investigated in the Houston Energy corporation scandal. What was found out later when he went to court was he admitted to working with coconspirators to cook Enron’s books, and later found out he was keeping around 43 million for himself. Though as we know Andrew Fastow knew a lot about what Enron…

According to Accountingdegree.org, the Waste Management Inc. Scandal was included in “The Top 10 Worst Corporate Accounting Scandals of All Time.” Waste Management formed in 1894 by Larry Beck and it has grown tremendously over the years. What began as an idea, sparked from one person hauling garbage in a wagon, soon turned into a successful production that currently provides service to over 20 million customers. The industry states it “Partners with it’s customers and communities to manage…

Prize and the Booty - Case Study On the 25 February, 1603 Jacob van Heemskerck and his crew attacked the Santa Catarina, a merchant ship from Portugal which carried a very highly priced cargo of trade goods. The total price was more than three million guilders. This created discussion about the legitimacy of the attack on the Portuguese merchant ship. In order to justify Jacob van Heemskercks actions, Grotius’ literary works have to be taken into consideration as he addressed different laws…

Pablo Escobar was the quintessential druglord. It is estimated that at the height of his career - if you can call it that - Escobar brought in $420 million a week through drug trafficking and other illegal and morally questionable activities. Escobar achieved such great wealth through his dealings that it is said he lost $2.1 billion (you read that right) every year and didn’t even feel it. The Search Bloc finally captured and killed Escobar on December 2nd, 1993, well over 20 years ago.…