Reference no: EM132943535

Take some time to research an example of accounting fraud or scandal. It should not be hard to find an example. Think about what happened and why. Think about the implications and impact of this example, then post a response answering the questions below.

Discussion topic:

Search the internet for an example of an enterprise that went wrong (or was accused of going wrong) in their accounting. You might find it useful to include search terms like "accounting," "scandal," "misreporting," "fraud," "restatement," and "AAER," which stands for Accounting and Auditing Enforcement Release, a report from the Securities and Exchange Committee (SEC).
Your post should answer the following questions:

Question 1: How exactly did the accounting go wrong (or was accused of going wrong)? What accounts, if any, were overstated or understated?

Question 2: What was the company trying to achieve or misstate? What drove their behavior?

Question 3: How long were they able to keep their incorrect data from becoming public?

Question 4: Who was harmed, if anyone? You are encouraged to comment on two other students' posts, offering alternative answers to one or more of the questions above.