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Clikeman, Paul M., 1960-
Called to account : fourteen financial frauds that shaped the American accounting profession / Paul M. Clikeman
Alternate Title Fourteen financial frauds that shaped the American accounting profession
New York : Routledge, c2009
book jacket
Location Call Number Status
 3rd Floor  HF5616.U5 C575 2009    AVAILABLE
Subject(s) Accounting fraud -- United States
Accounting -- Corrupt practices -- United States
Corporations -- Corrupt practices -- United States -- Accounting
Accounting -- Standards -- United States
Physical Description ix, 345 p. : ill. ; 23 cm
Note Includes bibliographical references (p. [303]-338) and index
Review "Accounting fraud and how it has affected business practices both in the United States and internationally has never been of greater importance than it is now. Called to Account describes fourteen financial frauds that influenced the American public accounting profession and directly led to the development of accounting standards and legislation as practiced in the United States today. This entertaining and educational look at these historic frauds helps enliven and increase understanding of auditing and forensic accounting for students." "Chapters describe the tricks fraudsters such as "Crazy Eddie" Antar and "Chainsaw Al" Dunlap used to fool their auditors. Readers will learn how MiniScribe employees disguised packages of bricks as inventory, how Equity Funding personnel programmed the company's computer to generate 64,000 phony life insurance policies, and how Enron inflated its profits by selling and then repurchasing money-losing assets." "Complementing these chapters on high-profile crimes and criminals are chapters that trace the development of the public accounting profession and explain how each scandal shaped current accounting practices. Designed to complement dry, uninvolving auditing and advanced accounting texts with an engaging narrative, Called to Account also includes discussion questions and a useful chart which shows instructors and students how each chapter illustrates topics in leading accounting and auditing textbooks."--Jacket
Contents 1. Scandal and reform -- pt. I. Birth of a profession -- 2. Out of darkness -- 3. Ivar Kreuger -- 4. McKesson & Robbins -- 5. Into the spotlight -- pt. II. The profession's principle problem -- 6. Generally accepted accounting principles -- 7. National student marketing -- 8. Equity Funding -- 9. Déjà vu -- pt. III. The savings and loan crisis -- 10. It's a wonderful life? -- 11. ESM Government Securities -- 12. Lincoln Savings & Loan -- 13. Bank robbers -- pt. IV. The expectation gap -- 14. Auditors and fraud -- 15. ZZZZ Best -- 16. Crazy Eddie -- 17. Closing the gap -- pt. V. The litigation crisis -- 18. Auditors' legal liability -- 19. Funds of funds -- 20. MiniScribe -- 21. Litigation reform -- pt. VI. Beginning of the end -- 22. Auditor independence -- 23. Waste Management -- 24. Sunbeam -- 25. End of the millennium -- pt. VII. From profession to regulated industry -- 26. Professionalism -- 27. Enron -- 28. WorldCom -- 29. The perfect storm -- 30. Conclusion

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