Determine the accounting aspects of business
Accounting scandals can have a profound effect on all those connected with business. Enron scandal, for instance, ultimately led to the collapse of the company that, in turn, resulted in lost jobs and large financial losses for lenders, investors and suppliers. Confidence in the world of business can be badly shaken by these events and this can pose problems for society as a whole. Not remarkably, thus, relevant authorities tend to be severe on those who perpetrate such scandals. In US, Bernie Ebbers, former chief executive of WorldCom, received 25 years in prison for his part in the fraud.