Accounting Firm Case Studies Samples For Students

1) The word "corrupt" refers to a person’s act(s) of being dishonest and engaging in practices such as lack of integrity, crookedness, and bribery ("Definition of CORRUPT", 2016). It also refers to the destruction of integrity thus causing an individual to be dishonest and disloyal. In the case of Arthur Anderson, the prosecution noted that the accounting firm dishonestly encouraged Enron employees to exercise routine destruction of documents knowing that the government’s investigations into the acts of the accounting firm were imminent. The deliberate intention of the destruction and hence wrongdoing of Anderson was meant to ...

After working for a big Accounting firm for six years, Amanda Smith decided to start her own accounting and tax returns firm. Initially she had one employee but the departure of a major competitor signaled an increase in clients and compelled Amanda to employ three more accountants. However, after a few months, complaints on tax returns started troubling Amanda and her company is on the brink of collapse. This paper seeks to make recommendations to Amanda on the five facets of management that she ought to polish up to ensure an upturn in fortunes for Smith’s Accounting and tax Returns. The ...

Enron Corporation, a company founded in 1985 and grew rapidly, gained wide media coverage as it hit a share price of $US90.75 in 2000. The company spread its business to various sectors over its short course of growth. The growth was attributed to its former CEOs Kenneth Lay and Jaffrey Skilling. However, the real picture was different, for Skilling and his team through their unethical accounting practices had been cheating Enron’s investors. They kept the firm’s huge debt hidden with intent to maintain the reputation of the company. Skilling and his colleagues verbally attacked the industry analysts ...

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Introduction

In 2000, the Chief Executive Officer (CEO) of Qwest, Joseph Nacchio, was charged civil and criminal liabilities after it has been found that he violated the provisions of GAAP against fraud and insider trading. He was sentenced to six years in prison in 2007 and was slapped with a $19 Million fine and a forfeiture order for proven illegal stock sales transactions worth $52 Million. In this memo, the author discusses the different aspects of Qwest’s case, emphasizing the role of GAAP and the PCAOB.

The Generally Accepted Accounting Principles (GAAP) refers to a standard framework of ...

Powers Report: The Enron scandal

The Enron scandal that occurred in 2001 has been cited as the biggest audit failure. The scandal would later lead to the bankruptcy and collapse of Enron Corporation. Enron was an American energy company that was based in Houston. It was the largest energy company in the United States. The scandal also led to the dissolution of Arthur Andersen, an accounting firm that was one among the largest five accounting firms in the world. The investigation began when the share price of the company declined sharply from $ 90.75 in the mid of 2000 to less than $1 in 2001 ( ...

Question 1:

As a successful accounting firm, Katz, Sapper & Miller understands basic accounting concepts, such as the concepts of expenditure on marketing, productivity and management. Good accounting skills will careful scheduling as well as effective communication and will allow Katz, Sapper & Miller to reach attain its full potential (Knapp, 2011). Appreciating various ways of how to ensure that the firm remains productive enables the firm to attain the most of its money. Accounting values give Katz, Sapper & Miller an identity as well as create healthy work environment. In addition, according to accounting building information makes its clear and concise accounting values gives ...