Illegal Accounting Practices
Not what you're looking for?
Discuss at least eight examples of illegal accounting practices that could result in incarceration? They could be real life instances or just examples.
Purchase this Solution
Solution Summary
This solution assists in discussing illegal accounting practices.
Solution Preview
1) Smoothing Out
1) In February, 2003, the Federal Home Loan Mortgage Corporation, almost universally known as Freddie Mac, came under fire for illegal accounting practices. Specifically, Freddie was accused of using unlawful techniques to "smooth out" volatility in revenues and earnings, with an alleged primary aim of meeting goals that would generate bonuses for top senior management. These practices would also, presumably, encourage increases in the corporation's stock value.
2) The use of off-balance-sheet partnerships and reserves to "manage" reported earnings
3) The re-categorization of investments to enable gains to be booked on the company's income statements
4) The reorganization of business ...
Purchase this Solution
Free BrainMass Quizzes
Lean your Process
This quiz will help you understand the basic concepts of Lean.
Situational Leadership
This quiz will help you better understand Situational Leadership and its theories.
Basics of corporate finance
These questions will test you on your knowledge of finance.
Understanding the Accounting Equation
These 10 questions help a new student of accounting to understand the basic premise of accounting and how it is applied to the business world.
Income Streams
In our ever changing world, developing secondary income streams is becoming more important. This quiz provides a brief overview of income sources.