Download Creative Accounting, Fraud and International Accounting by Michael J. Jones PDF

By Michael J. Jones

Company scandals are continually with us from the South Sea Bubble to Enron and Parmalat.  As accounting types a crucial component of any enterprise luck or failure, the function of accounting is important in figuring out enterprise scandals. This booklet goals to discover the position of accounting, fairly artistic accounting and fraud, in enterprise scandals. The ebook is split into 3 elements. partly A the historical past and context of artistic accounting and fraud is explored. half  B looks at a chain of overseas accounting scandals and Part  C draws a few issues and implications from the rustic reports

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Extra info for Creative Accounting, Fraud and International Accounting Scandals

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They looked at many instances of creative accounting, especially those detected by the Financial Reporting and Review Panel, which ‘policed’ UK financial reporting (McBarnet and Whelan, 1999). Meanwhile, in the USA, a very influential book by Charles Mulford and Eugene Comiskey, entitled The Financial Numbers Game, investigated the pre-Enron financial reporting in the USA and documented numerous examples of both creative accounting and fraud. Enron is shown to be only one high-profile example of frequently occurring financial manipulations in the USA (Mulford and Comiskey, 2002).

Finally, photographs may be used to present an overall image of the company. For example, many of the high-profile oil companies use nature photographs to try to present a green image. A fuller discussion of the impression management literature is provided in Chapter 6. 4 Profit Smoothing The stock market generally rewards companies that produce steady profits, but penalises those with erratic profits. Companies therefore will prefer to report steady year-on-year growth rather than confront the market with volatile profits.

Mulford, C. and Comiskey, E. (2002), The Financial Numbers Game. , New York. Pijper, T. (1993), Creative Accounting. The Effectiveness of Financial Reporting in the UK, Macmillan, London. Smith, T. (1991), Accounting for Growth. Stripping the Camouflage from Company Accounts, Century Books, London. UBS Phillips & Drew (1991), Accounting for Growth, UBS Phillips & Drew, London. White, B. (2006), ‘Government scores its biggest victory’, Financial Times, p. 26. 1 INTRODUCTION Creative accounting and fraud do not occur in a vacuum.

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