Last Updated 06 Jul 2020

Discussion

Category Accounting,  Papers,  Problem 
Essay type Discussion
Words 295 (1 pages)
Views 147

Please use as a basis for your discussion the following question: Do you think the events of this chapter (Chapter 2) are isolated instances of business malfeasance, or are they systemic throughout the business world? I don't think events in Chapter 2 are isolated instances of business malfeasance. From the cases of Enron, Arthur Andersen and World, it's easy to find some similarities.

All of them focused on short-term revenue and ignored the long-term development and companies' integrity and reputation; all of them couldn't successfully solve the interest conflict between "people on the top" and current and respective shareholders.

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. A stably raising stock price satisfies the board of directors as well as attracts investors to make investment.

To achieve this goal, there are two ways to go: one is following all the audit and accounting ethics when directing the company, which may be slow but stable and beneficial in long term; another one Is cheating and walking on the borderline of ethics, which can make a lot revenue In short term but prohibits the company's healthy development in the future. Obviously, companies In those cases In Chapter 2 chose the second way. However, I can hardly say that they are symmetric problem In the business world.

Although there are some bad apples In the tree, there are more companies which aim to long-term healthy development and obey rules and regulations. I agree with Currant's opinion that there Is a give and take relationship on both sides of companies and investors

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