Cases Of Successful And Failure Corporation

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Cases of Successful and Failure Corporation Cases of Successful Apple is one of the successful companies that work with electronics. It was established in 1976 with its price share around $10. Apple generated about 300 millions when it went to public. The first development of Apple when it created Apple I. Now, Apple is considered one the electronic leading companies in the world, it sells different types of electronic devices and the major one is iPhone mobile. Apple’s market capitalization increased to $153 billion in 2010. Cases of Failure ZZZZ Best is one of the successful companies that work with cleaning the carpets. It is collapsed by accounting fraud in 1987. Barry Minkow is the founder of the company who established it. The accounting fraud started when ZZZZ Best had shortages in its cash flow because the company it was paying the investors for the restoration projects which are not existed. Earlier, the company fell because of the credit card fraud. Minkow did not pay to woman, so she told the people who was defrauded by Minkow which charged him $72,000 of credit cards fraud. Its stock price fall and Ernst & Whinney found that Minkow is writing checks for nonexistent contracts. After denying Minkow from this case Ernst & Whinney resigned from auditing ZZZZ Best. Later, ZZZZ Best was under investigating and LA Police Department found the evidence of money laundering. Xerox is another scandal case. In 2002 the SEC lodged a complaint against Xerox saying that the company played with the records of the revenues during signing the contracts. It recorded the revenue not for entire the contract. Xerox did not deny about that case and paid $10 million penalty, and it extracting again the financial results. Some of Xerox senior executives were accused of securities

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