Sean Russi The Case of Phar-Mor Inc ACCT-525 October 31‚ 2012 Case Summary The case of Phar-Mor Inc was one of the biggest pre-Enron frauds that have been uncovered. Phar-Mor Inc established in 1982 Phar-Mor was a small little known discount drugstore. Phar-Mor became well known for offering medications at a 25-40% discount rate compared to your normal pharmacy store prices. Phar-Mor’s first six years of existence seemingly were
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Andersen and the WorldCom scandal. Both of these companies were involved in unethical accounting practices. While Enron was accused of a vast number of shady dealings that included concealing debts in order keep them from being reflected on the company’s accounts‚ WorldCom’s accounting practices were so fraudulent that the company was led into the largest bankruptcy in history. Unethical accounting practices and scandals of the caliber of the Enron / Andersen and the WorldCom scandals is what led the U
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Performance Investment Product Corporation (PIPC) In 2007 there was a scandal involving a foreign exchange firm Performance Investment Product Corporation wherein the owner of the company‚ Michael H.K. Liew a Singaporean National fled the country taking with him fund’s of the investors amounting to US$140 million to US$250 million. (James‚ PIPC investors lose money as Michael Liew disappears‚ 2007) The firm was established in the Philippine as an online Forex trading service in 1998. (James‚ Updates
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J.J. and Warfield‚ T.D.‚ (2006). Intermediate Financial Accounting (12th ed.). New York: Wiley Raver‚ E.‚ (2006). The Enron Scandal: the Crime‚ Scandal‚ Tragedy‚ and Controversy of the Century. Retrieved January 9‚ 2010 from http://www.associatedcontent.com/article/100479/the_enron_scandal_the_crime_scandal--pg2.html?cat=3 Patsuris‚ P.‚ (2002)‚ The Corporate Scandal Sheet. Forbes. Retrieved January 9‚ 2010 from http://www.forbes.com/2002/07/25/accountingtracker.html
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Kels 9th Grade Honors English 11/21/13 Richard Nixon Resignation Speech Richard Nixon was the 37th president of the United States of America. On July 17‚ 1972‚ five men on the Committee to Reelect the President (CREEP) broke into the Democratic National Committee offices of the Watergate Hotel. These men were James W. Mcord‚ Bernard L. Barker‚ Virgilio R. Gonzalez; Frank A. Sturgis‚ Eugenio R. Martinez‚ and Alfred C. Baldwin. They were caught stealing important documents. These men also attempted
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relating to the Enron scandal. Although Arthur Andersen still technically exists as a company‚ and despite the verdict in relation to the criminal charges being overturned by the US Supreme Court‚ Arthur Andersen has arguably suffered too great a level of damage to its reputation to immediately return to its former position. Most analysts now speak of a ’Big 4 ’ following the troubles that hit Arthur Andersen. Arthur Andersen was essentially brought down by the Enron scandal‚ which erupted in 2001
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success. Journalism can even be crucial and create a turning point in history. We can refer to the 1972 scandal in watergate‚ when Nixon was the President of the United States. The Watergate scandal started being just a crime done by some burglars‚ but a couple of journalists from The Washington Post started investigating about the case and finally discovered that actually the Watergate scandal was a conspiracy against the democrats. These two Journalists brought the truth to the surface‚ and finally
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06.07 Disillusionment: Assignment Question: Explain how events such as the Vietnam War and Watergate affected the American public’s opinion of the U.S government. Part I: Read the question above and write down what you think the question is asking in your own words. I think that this question is asking for the American public perception of the US government and their elected officials during both of these events. Both the Vietnam War and Watergate events had big impacts on American society
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•Should Nixon have been impeached? The Watergate scandal was the first of its kind in United Stated history. The scandal created an uproar in the country between the people and most of all the government and the powers that be. President Nixon along with high ranking members of his staff at the time were have said to be involved in the stealing of equipment and cash and planting evidence on June of 1972. During this time some of Nixon’s high ranking staff were charged with being involved with
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Ethical Observations Sean Kearns ACC291 May 27‚ 2012 Unethical accounting behavior and the resulting practices of it within businesses today is a very hot topic since the Enron accounting scandal of 2001. One might ask how does a scandal of this proportion come to be and can it happen again? What situations could lead to unethical behaviors and practices in accounting today that might cause history to repeat itself? The author intends to answer these questions and shed light on some insight
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