This course contains 4 modules dealing with financial frauds which helps us in understanding finance and accounting concepts.
Accounting scandals have always been part of the financial history of the world. All listed (on the stock exchange) companies have to present and report their financials to the investors, lenders, customers etc. Hence, their results should be accurate and fair. Most companies publish their results quarterly and they also publish an annual report yearly.
Frauds and scandals generally occur when there is manipulations of the financial records. Sometimes when strict regulations are not in place and auditors do not comply with the set laws, some people get away by cooking the books. Corrupt officials and auditors take advantage of loopholes and the ones who suffer is the common public at large.
This course is for you, if you are:
- A Graduate/ Post graduate student
- A School Student
- A Professional
- Anyone who is interested to understand scandals in detail
Some of the corporate frauds that we will be discussing are:
- Enron- Financial Concepts of Securitization, MTM etc.
- Harshad Mehta- Ready forward deal (RFD), bank receipts etc.
- Subprime Crisis – Understanding Creative Financing, CDO, housing bubble etc.
- Business Ethics- How Apple and Facebook have not been the most ethical companies?
Module 1- Enron- 2000-2001
Concepts that will be covered in this section: Securitization SPV MTM ans SOX. Deconstructing movies and books such as Enron: the samrtest guys in the room, court room scenes, inside job etc.and Enron
Module 2 - Harshard Mehta Case- 1992
In this section we learn about ready forward deal, bank receipts, stock markets and SEBI. Decontructing movie called Gafla.
Module 3 - The Sub-Prime Crisis- 2007-2008
One of the biggest scandals. Deconstructing The big Short, Inside Job, Confessions of subprime lender by Richard Bitner
Module 4- Business Ethics
Understanding Business Ethics, how companies tweak ethics for increasing bottom line. Real cases from Apple, facebook etc.