Madoff Too Good To Be True Summary

In addition to The Economic Entity Assumption was a principle that continued to be violated throughout Madoffs operations. Transactions have to be recorded correctly while booking, including keeping certain transactions separated if its not related to the business. You should never mix your personal transaction with your business transactions. However, Madoff was no stranger to breaking this accounting principle. He over the years he made several transactions that would be considered unethical, because funds for business was used for personal use. accounting rule. In the article "Too Good to Be True" "Madoff began regularly wiring money to the London office to pay for personal luxuries. He purchased the $7 million Leopard Yacht in the