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Essay / Research Paper Abstract
This 6-page paper focuses on ethics and accounting. Discussions include the various roles of organizations such as the SEC and FASB and a general discussion about financial reporting and ethics. Bibliography lists 5 sources.
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6 pages (~225 words per page)
File: D0_MTfireet.rtf
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Unformatted sample text from the term paper:
1800s and early 1900s, the scandals that occurred then would make todays situations seem pretty tame), it wasnt until Global Crossing, then Enron was publicized that the American people realized
the extent and problem of the systems in place to try to promote "ethical" accounting. The truth is, however, that while lack of
ethics in accounting isnt uncommon, neither are the sensationalistic stories that Enron brought out. Most of the accounting profession is under the watchful eye of several organizations (that are "watchdog"
organizations), and breach of ethics isnt necessarily that common in the larger scheme of things. The reason why Enron made such headlines is that its breach was so huge, it
shocked even the profession. The point is, because of the Enrons and the Global Crossings (and the WorldComs) the accounting profession today is
adhering to even more rigid structures, partly through self-policing actions and partly through government actions (such as passage in 2002 of the Sarbanes-Oxley Act). In this paper, well examine some
of the issues that surround accounting, financial reporting and ethics. Alphabet Soup - the "Protection" of Ethics From the governmental end, the three
organizations that oversee accounting and its reporting are the Securities and Exchange Commission (SEC), the Financial Accounting Standards Board (FASB) and the Public Company Accounting Oversight Board (PCAOB). Lets examine
these one by one, and determine how they connect with one another. The SEC was established in 1934, in the wake of the
stock market crash of 1929 and the ensuing Great Depression. Since that time, the SEC has been charged with providing financial accounting and reporting standards for publicly held companies trading
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