The Small Business

Paper Summary:

With the recent emergence of unethical accounting and falsification of financial reports, big corporations have come under great scrutiny. This paper discusses the impact these unfortunate events on the owners of small businesses and whether it is as important for these organizations to be as diligent in accurate financial accounting as large corporations are, especially when those financial records affect far fewer entities and individuals.

Outline
Abstract
Small Business Accounting
Importance of Ethics in Accounting Practices
Tools for Small Businesses
Discussion

From the Paper:

"Financial accounting methods have come under fire recently, following the scandals involving large companies like Enron and MCI Worldcom. Although the problem may seem to encompass large corporate America only, many small businesses are falling into this dangerous trap, as well. Wright states that the problem of "creative accounting" carries far greater consequences for small businesses than owners may foresee (2004, 2)."

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