Glencoe Accounting

Chapter 9: Financial Statements for a Sole Proprietorship

Extend: Matter of Ethics

Financial Report or Repair?

  • Using the CNN Web site or the Web site of one of the publications below, locate news stories about a company that changed its financial statements to create the appearance of a more favorable financial condition. Try using search terms like "financial fraud" and "corporate fraud."
  • Select one article and write a summary of the case. Include details of how the financial records were altered, how the act impacted the company and investors, and how the case was handled.
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