dimanche 11 janvier 2015
Top 10 Accounting Scandals of All Time
Posted on 19:08 by nice news
Some of the greatest accounting scandals of all time have rocked the financial and even political worlds with their repercussions, and have been felt from Wall Street to India. The majority of these scandals are perpetrated on the investors of the companies in question, who were falsely led to believe that the company’s financial situation was better than it actually was.
Such misdeeds generally involve complex accounting methods that skillfully hide the real situation from prying eyes. In other cases there’s no skill or subtlety at all, and the books are flat-out falsified to tell the story the fictional author wants told, which is usually that the company is doing great, and it’s stock price (and the wealth of its owners) should increase. This can be accomplished in a number of ways, including overstating the value of corporate assets, understating the existence of liabilities, showcasing an over-exposure of revenues and/or under-exposure of expenses, etc. There many tricks of the trade for unscrupulous accountants.
Such misdeeds generally involve complex accounting methods that skillfully hide the real situation from prying eyes. In other cases there’s no skill or subtlety at all, and the books are flat-out falsified to tell the story the fictional author wants told, which is usually that the company is doing great, and it’s stock price (and the wealth of its owners) should increase. This can be accomplished in a number of ways, including overstating the value of corporate assets, understating the existence of liabilities, showcasing an over-exposure of revenues and/or under-exposure of expenses, etc. There many tricks of the trade for unscrupulous accountants.
Top 10 Accounting Scandals of All Time
Categories: Top 10 Accounting Scandals of All Time
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