Financial Scandals Term Paper by Top Papers

Financial Scandals
A discussion of the creative accounting practices employed in financial scandals.
# 141555 | 750 words | 3 sources | MLA | 2008 | US
Published on Dec 01, 2008 in Business (Accounting) , Accounting (Fraud)


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Description:

The paper discusses how there are some similarities between the financial scandals involving companies such as Enron and WorldCom that are representative of the dot.com market crash and the current market failures. The paper reveals that although Enron and WorldCom's failures related to criminal activity and overt market manipulation and the present market issues such as those affecting Lehman Brothers and AIG relate to liquidity issues due to inadequate risk mitigation strategies, creative accounting practices were employed in both instances.

From the Paper:

"There are some similarities between the financial scandals involving companies such as Enron and WorldCom that are representative of the dot.com market crash and the current market failures. Although Enron and WorldCom's failures related to criminal activity and overt market manipulation and the present market issues such as those affecting Lehman Brothers and AIG relate to liquidity issues due to inadequate risk mitigation strategies, creative accounting practices were employed in both instances. It is clear that one universally accepted characteristic of creative..."

Cite this Term Paper:

APA Format

Financial Scandals (2008, December 01) Retrieved May 23, 2022, from https://www.academon.com/term-paper/financial-scandals-141555/

MLA Format

"Financial Scandals" 01 December 2008. Web. 23 May. 2022. <https://www.academon.com/term-paper/financial-scandals-141555/>

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