Accounting scams
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The document discusses several accounting scams that have occurred in India, focusing on the large Satyam scam. It provides details on the Satyam scam, including how the founder inflated profits and assets by over $1 billion USD through fake accounts. This scam had major impacts, damaging India's IT sector reputation, shaking investor confidence, and showing the need for stronger financial regulations and controls. Other past accounting scams in India are also briefly mentioned.
Accounting scams
- 1. ACCOUNTING SCAMS IN INDIA
- 3. Introduction Types of Accounting Scams Satyam Scam Other Scams Impact Controlling Authorities Conclusion
- 6. SATYAM SCAM About Satyam Milestone Scandal Confessions Consequences
- 7. ABOUT SATYAM The Company Position The Satyam Scam Balance Sheet
- 8. Balance Sheet Of Satyam Computer Ltd as on 30TH September, 2008 8794.98 1217.8 1230.00
- 9. Balance Sheet Of Satyam Computer Ltd as on 30TH September, 2008 APPLICATION OF ADJUSTMENTS FUNDS 1. Fixed assets 1381.10 1381.10 1381.10 2. Investments 618.64 618.64 618.64 3. Tax 118.75 118.75 118.75 4. Current assets a. sundry debtors 2651.36 490.00 2161.36 b. cash 5312.62 272.62 5040 c. accrued interest 376.34 - 376.34 d. Loans 502.22 502.22 - LIABITIES 2166.05 2166.05 - Net current assets 6676.49 901.21 (5775.21) TOTAL APPLICATION OF 8794.98 1217.28 7577.7 FUNDS
- 10. CONFESSIONS
- 11. CONSEQUENCES Impact on Indian IT Sector. Indias step to save Satyam. Satyam is seeking bank loans to cover expenses. Acquisition of the Company. Indian Stock Market Slipped-Shook Confidence of the investors. Financial terrorist
- 12. OTHER SCAMS
- 13. IMPACT OF SCAMS
- 15. CONCLUSION Business Ethics of Finance Social Responsibility
- 16. THANK YOU