Top Accounting Scandals In this article, we will talk about top 10 accounting scandals of all time. If you’re curious about the history of each, read them all in one go. Let’s get started. 1 # Scandal of Arthur Anderson Company: It happened in the year 1998. Arthur Anderson, a waste management company reported around $1.7 billion in fake earnings.
Can you imagine a world without technology? What if things such as cell phones, cars, medicine, and the internet never existed? Chances are that you cannot. In fact, technology has become so ingrained in modern society that it is nearly impossible to imagine a world without it. This is because many great benefits have come from developing and using technology over the course of human history.
Raju,on January 7, 2009 disclosed in a letter to Satyam Computers Limited Board of Directors that he had been manipulating the company’s accounting numbers for years. He claimed that he overstated assets on Satyam’s balance sheet by $1.47 billion. Nearly $1.04 billion in bank loans and cash that the company claimed to own was non-existent. Satyam also underreported liabilities on its balance sheet and overstated income nearly every quarter over the course of several years in order to meet analyst expectations. Mr. Raju and the company’s global head of internal audit used a number of different techniques to perpetrate the fraud.
Electronic communication is one of the most popular forms of communication in the modern day. The cell phones led to a complete transformation of how communication is carried out in the society. Text messages are the most common form of communication in the society. In the USA alone, billions of text messages are used for communication every year (Thorson & Moore, 2013). This has impacted negatively on the face to face communication.
The internet has been around since the 1970s but it wasn’t until the 1990s that it became popular. The internet became a way for people to communicate instantly over great distances. People could also search for information using the internet. The creation of email, social media, and search engines changed the way people all around the world operate. People can now learn, online, anything that they want instead of having to rely on teachers.
In short, technology can be classified into three types which are Internet, Facilities and Human Development. According to Milner and Burrows (1996), Internet is the massive computer system in the world which it is an immense network that reach the globe with continuously spread out worldwide until now and allows many millions of users to share and exchange information. Thus, the internet has introduced telecommunication which refers to the communication over long distances to the world. For example, it ease humans to interact, communicate and sharing information through web with people around the world with the help of social medias such as Facebook, Instagram, Skype, Twitter and Wechat etc. and search engines such as Google and Yahoo that assist people to publicize information as well.
Some forms of media involve communicating on a one–to-one basis, like talking to someone on the telephone, or reading a book, or chatting with your friend on the internet. II. However, other media like newspapers and television reach millions of people at the same time. Such means of communication are called mass media. In other words, media that reach a large section of people, or the masses, anywhere in the globe in a short time is called mass media.
People receive information in multiple ways each and every day. People have gained information and spread news has been changed over time. A medium is defined as “the means of communication, radio and television, newspapers, magazines, and the Internet, that reach or influence people widely.” Using this definition we can see that throughout history society has communicated in different ways as early as history has been recorded. As people we become more technologically advanced we look for new ways to communicate with each other in faster ways. Ways people use a medium or multiple forms of media has changed since the recording of history.
Impact and Growth of QR code in Today’s Era: QR codes are quickly arriving at high degrees of acceptance. More and more people adopt and use this technology every day. One of the reasons behind the rapid growth of the QR code is that it gains momentum as smartphone users grow across the world and marketers use QR codes to reach mobile consumers. A recent study of QR code shows that Americans were the most likely to have used the technology. According to the study of 2,000 Americans and 1,000 Europeans undertaken by Pitney Bowes, US consumers frequently scan QR codes across every medium by which the codes were delivered.
ITTL Modern technology has been helpful to us since the invention of ENIAC by Alan Turing back in 1947. Ever since then modern technology have been upgrade year by year. People somehow managed to find new things to create using the modern technology. This modern technology also have helped to make the task in our daily lives easier. For example, the invention of telephone by Alexander Graham Bell in 1876 has now become the most essential technology that everyone carry with everywhere they go which is cell phone.