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  • Sunbeam Presentation Final

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    Jesin Estiana
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    This document summarizes the history of Sunbeam Corporation from 1897 to 1997 including key events like changes in ownership and an audit scandal in the 1990s. It discusses violations of accounting principles like revenue recognition and full disclosure as well as auditing principles around documentation, independence, and internal controls. The recommendation is that Sunbeam should have pursued steady growth instead of aggressive expansion, avoided accounting malpractices, and implemented stronger checks and balances of authority.

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    Sunbeam Presentation Final (1)

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    This document summarizes the history of Sunbeam Corporation from 1897 to 1997 including key events like changes in ownership and an audit scandal in the 1990s. It discusses violations of accounting principles like revenue recognition and full disclosure as well as auditing principles around documentation, independence, and internal controls. The recommendation is that Sunbeam should have pursued steady growth instead of aggressive expansion, avoided accounting malpractices, and implemented stronger checks and balances of authority.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    14 views7 pages

    Sunbeam Presentation Final

    Uploaded by

    Jesin Estiana
    This document summarizes the history of Sunbeam Corporation from 1897 to 1997 including key events like changes in ownership and an audit scandal in the 1990s. It discusses violations of accounting principles like revenue recognition and full disclosure as well as auditing principles around documentation, independence, and internal controls. The recommendation is that Sunbeam should have pursued steady growth instead of aggressive expansion, avoided accounting malpractices, and implemented stronger checks and balances of authority.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    of 7

    SUNBEAM

    SUNBEAM

    ACT
    ACT 380.1
    380.1
    Muin Uddin Ahmed
    Muin Uddin Ahmed
    Dept.
    Dept. of Accounting and
    of Accounting and Finance
    Finance
    Introduction
    A FLEXIBLE SHAFT FIRST PRODUCTS
    1897 1910
    COMPANY

    JOHN OSTER OFFICIAL NAME


    1960 1946
    MANUFACTURING CHANGE
    HOW IT ALL
    STARTED
    1990-1997 THE INVESTORS AND
    ALLEGHENY 1981 DUNLAP
    INTERNATIONAL
    Audit Scandal

    • Bills and holds


    • Questioning sunbeams
    integrity
    • Improper restructuring costs
    • Excessive litigation reserves
    ACCOUNTING PRINCIPLE VIOLATION

    • Accrual principle
    • Matching principle
    • Revenue Recognition principle
    • Full disclosure principle
    • Objectivity Principle.
    AUDITING PRINCIPLE VIOLATION

    • Documentation
    • Professional Care
    • Integrity, Independence
    • Internal Controls
    • Audit Conclusions and Reporting
    Recommendation
    • Should have gone for steady growth
    instead of aggressive growth.
    • Authority level should be bias free.
    • Should have avoided accounting
    malpractices.
    • Check and balances of power in
    authority level should have been
    much more strong.
    Thank You

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