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Essay / Research Paper Abstract
14 pages. The current complexity and confusion surrounding accounting rules and regulations is finally getting detailed attention, thanks to the Enron bankruptcy. Although these problems are being addressed too late for the hapless Enron investors, perhaps such a travesty can be avoided by making some of the vague accounting regulations more detailed and explicit.
This interesting paper delves into revenue manipulation and gives some examples of how it can happen and what steps might be taken to avoid it. The corporate world of today is seeing more internal control and audits taking place, and this is only going to get more involved after what happened with Enron. Bibliography lists 10 sources.
Page Count:
14 pages (~225 words per page)
File: D0_JGArevnu.rtf
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Unformatted sample text from the term paper:
investors, perhaps such a travesty can be avoided by making some of the vague accounting regulations more detailed and explicit. This interesting paper delves into revenue manipulation and gives some
examples of how it can happen and what steps might be taken to avoid it. The corporate world of today is seeing more internal control and audits taking place,
and this is only going to get more involved after what happened with Enron. WHAT IS REVENUE MANIPULATION? Annual losses due to check fraud continue to climb as many
criminals find new ways to earn a living by defrauding others. It is estimated that this year eighty five billion checks will be processed and seven hundred thirty one
million will bounce. Annually more than five hundred million checks are forged and this means that an average of over one million four hundred thousand checks that are fraudulent
are written daily for an amount of over twenty seven million dollars. A report issued by the American Banker indicates that losses from check fraud will grow annually by
twenty five percent (Foster, 1999). By keeping a healthy and informed look at the true income level of any given corporation, it is evident that much fraud can be discovered
before it is too late. While this was not true in the case of Enron, the evidence has shown that not only must accountants be trained in this endeavor,
they must know what to look for. What may appear to be steadily rising income can instead be the forecasting of disaster. For a rising income with dropping
cash flow can often only mean disaster is just around the corner. As technology grows at a rapid pace, the ability to defraud grows just as rapidly. With
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