Double-Dealing

In: Business and Management

Submitted By thestugot
Words 1751
Pages 8
| Double-dealing | A review of fraudsters and the impact | | Nick Andreolas | 11/30/2015 |
ACCT604
Ruizhen Hardin

This paper summarizes accounting fraud in the United States. I explain why each aspect of communication skills and report writing is vital to an accountant’s professional career. |

Table of Contents
I. Executive Summary 1
II. Introduction 1
III. Review of Literature 1
IV. Analysis 1
V. Recommendations 1
VI. Summary and Conclusions 1
VII. Appendix x 1
VIII. References 1

I. Executive Summary

Accounting fraud is the deliberate manipulation of accounting records in order to make an organization's financial performance or condition seem better than it actually is.
There are many examples of accounting fraud. * Merging short and long term debt into one amount for improving the perceived liquidity of the organization or a company. * Failing to disclose the risky investments or creative accounting practices. * Over-recording the sales revenue. * Under-recording expenses i.e. depreciation of expenses.
From Enron, WorldCom and HealthSouth, it appears that accounting fraud is a major problem that is increasing in frequency and severity. research evidence has shown that a growing number of frauds have undermined the integrity of financial reports, contributed to substantial economic loses, and destroyed investors' confidence regarding the reliability of financial statements. The increasing rate of white-collar crimes demands stiff penalties and strong punishments. II. Introduction
New laws and guidelines have helped reduce, but not eliminate fraud. Enron, WorldCom and HealthSouth scandals were detrimental to the public. Millions of dollars in investments the public made into those companies have been lost. The SEC (Securities and Exchange Commission) has taken a strong stance on fraud committed by…...

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