Large Accounting Firm
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Accounting scandals - Accounting scandals, or corporate accounting scandals are political and business scandals which arise with the disclosure of misdeeds by trusted executives of large public corporations. Such misdeeds typically involve complex methods for misusing or misdirecting funds, overstating the value of corporate assets or underreporting the existence of liabilities, sometimes with the cooperation of officials in other corporations— (Morgan Stanley), or affiliates.
Hollywood accounting - In accountancy, Hollywood accounting is the practice of distributing the profit earned by a large project to corporate entities which, though distinct from the one responsible for the project itself, are typically owned by the same people. This has the net result of reducing the project's profit by a substantial margin, sometimes even eliminating it altogether.
Balance (accounting) - ... of money owned, (or due), that remains in a deposit account (or a loan account) at a given date, after all past remittances, payments and withdrawal have been accounted for. It can be positive (then, in the balance sheet of a firm, it is an asset) or negative (a liability).
Arthur Andersen - Arthur Andersen LLP, based in Chicago, Illinois, was the fifth largest of the Big Five accounting firms and performed auditing, tax services, and consulting. In 2002 the firm voluntarily surrendered its Certified Public Accounting firm licenses in the U.
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