What are some accounting issues that have occurred in the past?
Old 03-23-2009, 07:16 PM   #1 (permalink)
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Default What are some accounting issues that have occurred in the past?

I have an accounting project in my first year accounting course at Schulich.
I need some ideas for this case project that we have to present.

I need to choose a company, and write a case based upon at least THREE key accounting issues that involve the company's financial statements.

We should identify accounting issues that have occurred in the past and what companies took advantage of particular issues in their presentation of financial material.

Anyone have any ideas of good companies for this project?
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Old 03-23-2009, 07:20 PM   #2 (permalink)
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Enron
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Old 03-23-2009, 07:25 PM   #3 (permalink)
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We must also present solutions to the problems. So wouldn't Enron be complicated?
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Old 03-23-2009, 07:29 PM   #4 (permalink)
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Go with the insurance company in the states that gave its executives huge bonuses and layed off something like 300 people and reported losses on the taxes.
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Old 03-23-2009, 07:30 PM   #5 (permalink)
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an example close to home: portus asset management

https://secure.globeadvisor.com/serv...RCOVERPORTUS12
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Old 03-23-2009, 07:36 PM   #6 (permalink)
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There was a massive accounting scam with WorldCom that happened pretty soon after the whole Enron thing. Accountants were told to record operating expenses as investments in order to jack net profit up.

WorldCom accounting scandal | Business | guardian.co.uk
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Old 03-25-2009, 06:01 PM   #7 (permalink)
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livent.

globeandmail.com: Livent founders guilty of fraud
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