Abstract Gregg Mulholland’s case, which involved money laundering and the violation of Sections 5(a) and 5(c) of the Securities Act of 1933 has been selected for the present case. The case revolved around a pump and dump scheme through which Mulholland misled investors to buy the shares of thinly capitalized...

The world of accounting has been lauded in some cases and come under fire in others. Specifically, there have been times when the world of accounting has been seen as the gatekeeper for the public, providing individuals with information in a fair and accurate manner so they can make decisions...

Introduction and Purpose StatementThe ever-increasing globalization and integration of international financial markets have given rise to the need for harmonized international accounting standards. The International Accounting Standards Board (IASB) has responded to the need mentioned above by developing the International Financial Reporting Standards (IFRS) and encouraging accounting bodies around the...

Ethics is usually perceived as a set of moral principles and values that guide perception, behavior, and judgment of society members (Armstrong et al., 2003). Accounting profession maintains its own ethical standards and principles, which all members of accounting profession are required to adhere to. Ethics is vital for accounting...

IntroductionThe FASB often issues accounting standard updates (ASU) with an aim of improving best practices in accounting. Among the most recent update that has been released by the FASB, is ASU 2015-11. This update simplifies previously issued guidance through which an entity was required to measure inventory at the market...