Accounting Ethics

1315 WordsApr 5, 20146 Pages
Accounting Ethics 2 1. Given the corporate ethical breaches in recent times, assess whether or not you believe that the current business and regulatory environment is more conducive to ethical behavior. The ethical breaches in recent times, Weygandt, Kimel, Kieso( 2012) researched that “financial press open full articles and documents facts about financial scandals at Enron, WorldCom, HealthSouth, AIG, Adelphia Communication and Cable and more. As the scandal came to light people did not play the stock market if they believe that the stock prices were rigged.” Weygandt, Kimel, Kieso (2012) researched that; “the United States…show more content…
In one case listed in the complaint, in August of 2000, Timothy Rigas and his friends used an Adelphia jet to fly to Africa for a safari. Timothy Rigas prevented Adelphia employees from keeping records of family's air travel and the company's board never approved family used of the planes, the complaint said. The company also paid for two apartments in Manhattan -- one used rent-free by John's daughter and son-in-law, according to the complaint.” Accounting Ethics 5 4. Analyze the accounts impacted and/or accounting guidelines violated and the resulting impact to business operation. Leonard, Harrington & Burke researched that “the Rigases didn't have any sources of income outside Adelphia. They never sold their stock, and it didn't pay a dividend. Cohen was pretty sure

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