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Using the Internet, or other resources prepare an article analysis in which you identify situations that might lead to unethical practices and behavior in accounting. Then, examine the impact of the Sarbanes-Oxley Act on financial statements.

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Using the Internet, or other resources prepare a 350-700-word article analysis in which you identify situations that might lead to unethical practices and behavior in accounting. Then, examine the impact of the Sarbanes-Oxley Act on financial statements.

Situations where you can identify a situation that may lead to unethical practices and behavior in accounting:

? Creative accounting, earnings management, misleading financial analysis. Such misdeeds typically involve complex methods for misusing or misdirecting funds, overstating revenues, understating expenses, overstating the value of corporate assets or underreporting the existence of liabilities, sometimes with the cooperation of officials in other corporations or affiliates.
? Insider trading, securities fraud, bucket shop, forex scams: concerns (criminal) manipulation of the financial markets.
? Executive compensation: concerns excessive payments made to corporate CEO's.
? Bribery, kickbacks, and facilitation payments: while these may be in the (short-term) interests of the company and its shareholders, these practices may be anti-competitive or offend against the values of society.

An example you can learn from: ENRON
Enron Corporation was an American energy company based in Houston, Texas. Before its bankruptcy in late 2001, Enron employed around 21,000 people and was one of the world's leading electricity, natural gas, pulp and paper, and communications companies, with claimed revenues of $111 billion in 2000. Fortune named Enron "America's Most Innovative Company" for six consecutive years. It achieved infamy at the end of 2001, when it was revealed that its reported financial condition was sustained mostly by institutionalized, systematic, and creatively planned ...

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