Curbing Corporate Scandals for Global Business Success

This research looked at accounting standard and how it helped to address ethical issues within four selected Companies: WorldCom, Adelphia, Enron, and Tyco. Accounting Standard are rules and regulations that were set by accounting bodies to regulate financial transaction and accounting statement wit...

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Bibliographic Details
Published inJournal of finance, accounting, and management Vol. 10; no. 1; pp. 1 - 8
Main Authors Ndekugri, Alhassan, Twum-Danso, Evans
Format Journal Article
LanguageEnglish
Published Beverly Hills Global Strategic Management Inc 01.01.2019
Subjects
Accountants
Accounting policies
Accounting procedures
Decision making
Disclosure
Ethics
Financial reporting
Financial statements
Fraud
Hypotheses
International accounting standards
International finance
International organizations
Net income
Objectivity
Professional ethics
Professionals
Regulation of financial institutions
Reputations
Scandals
United States > US
Europe
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Summary:This research looked at accounting standard and how it helped to address ethical issues within four selected Companies: WorldCom, Adelphia, Enron, and Tyco. Accounting Standard are rules and regulations that were set by accounting bodies to regulate financial transaction and accounting statement within an organizations. These standards helps the organization to operate with integrity, honesty, fairness, concise and ethically. Our findings showed that Enron, Tyco, Adelphia and WorldCom were caught going contrary to these accounting rules with understatement of company's expenses that leads to overstatement of company's net income to look good for investors and misappropriation of company's funds by CEO's and CFO's.
ISSN:2153-2818
2153-2826