Enron Accounting Scandal

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ENRON ACCOUNTING SCANDAL The Scandal In the history of accounting, "Enron scandal" means more than just a legend of accounting managements. It exceeds every other accountings deceit, because the need to secrete its real economic situation was not just a matter of hiding failures borne out of unsuccessful business protrusions. In our summary of the ten major accounting scandals that altered the business world, Enron led the set of white collar crimes committed out of pure gluttony (McLean & Peter, 2003). A lot of people blamed America's deregulated trading system as the major contributing aspect that permitted Enron's malfeasance to happen. However, an assessment of early years of deregulation was established that free enterprise was not as bad as its disbelievers had anticipated (McLean & Peter, 2003). Enron in fact takes advantage of America's free enterprise where industries are anticipated to aggravate into earning proceeds by giving clients the most excellent services or merchandise they need. Underneath unobstructed trade situation, industry players are projected to create their own business and financial tactics in a manner that will draw clients to support their goods and services (Dharan & William 2004). However, Enron executives become gluttonous in America's deregulated economy where business entities were manage to pay for tax cutbacks. Said cutbacks were proposed as incentives for businesses to give the maximum quality in their merchandise at viable costs.
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