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- Title
ACCOUNTING FRAUD Learning from the Wrongs.
- Authors
Sweeney, Paul
- Abstract
The article focuses on business scandals and accounting fraud in the United States. Under the management of its chief executive officer Albert Dunlap, Sunbeam Corp. used questionable accounting methods to enhance earnings and stock prices. Dunlap was oustered by Sunbeam's board of directors in June 1998. The accounting firm Arthur Andersen & Co. was investigated for mismanagement and shareholders filed lawsuits. Other companies where senior managers used accounting tricks to create imaginary sales or revenues include Rite Aid Corp., CUC International Inc., Livent Inc., Oxford Health Plans Inc., Phar-Mor Inc., Miniscribe Corp. and MicroStrategies. INSET: Tips for Avoiding Fraud.
- Subjects
UNITED States; ACCOUNTING fraud; SUNBEAM Corp.; DUNLAP, Albert J., 1937-2019; MISMANAGEMENT; BUSINESSMEN'S conduct of life; CORRUPT practices of executives; EMPLOYEES
- Publication
Financial Executive, 2000, Vol 16, Issue 5, p18
- ISSN
0895-4186
- Publication type
Article