Hi

please help me with the 3 questions for my discussion but not from courcehero source because my professor find out last time and she said it should be my thoughts so please use your thoughts when answering not course hero source I appreciate and also I put reference for you to use in here :

The Role of Creative Accounting In a parody of the Nobel Prize awards, the organization Improbable Research presented the 2002 IgNobel Prize in Economics to the CEOs, corporate directors, and auditors of a number of rms that were involved in corporate accounting scandals. The managers and auditors of such rms as Adelphia Communications, Arthur Andersen, Enron, Global Crossing, Rite-Aid, Sunbeam, Tyco, and WorldCom won the award for their development of the mathematical concept of \"imaginary numbers\" used in the business world. Although the award was supposed to be a humorous way to address accounting fraud, the actual consequences of this unethical behavior are much more real. A common phrase related to misrepresented nancial statements is \"cooking the books.\" Although the exact origin of the term is still debated, a common citation used is from the 1806 book Adventures of Peregrine Pickle. Plays and Poems by Tobias Smollett. In the book, Smollett refers to inaccurate nancial information as \"some falsied printed accounts, artfully cooked up, on purpose to mislead and deceive.\"9 These imaginary numbers were the driving focus behind the concept of creative accounting. Creative accounting can be dened as the deviation from the traditional methods used to interpret an accounting rule or standard. Critic David Ehrenstein claims that the term creative accounting came from the Mel Brooks lm The Producers, which eventually became a Broadway musical.Z In T he Producers, the director and the producer of the play sold \"shares\" of ownership to multiple partners. They sold more than 100% of the rights of the show, with the assumption that they would never have to pay out the prots to the investors. The director and the producer purposely produced the \"worst\" show on Broadway so it would be closed after one performance, and therefore, they would no longer have a nancial obligation to any of these \"little old lady\" owners. With songs such as \"Springtime for Hitler,\" they thought for sure the play was going to be a op. Much to their surprise, the show was a hit, and the nancial troubles started. Although the original film was released in 1968, the story line appears eerily familiar to a number of the accounting scandals that were taking place 30 years later. Firms such as WorldCom and Enron articially propped up their nancial statements to convince their stockholders that they still had viable companies, which actually fell like houses of cards. Creative accounting quite often walks the fine line between legal and illegal activities. Within the standards set by professional accounting organizations such as the Accounting Standards Board in the United Kingdom and the Financial Accounting Standards Board in the United States, there is always some room for interpretation of the accounting standards. However, sometimes it is hard to see where \"aggressive\" accounting stops and \"fraudulent\" accounting starts. The rationality and objectivity of accounting is based on the level of rationality and objectivity of the people who interpret the rules.E Ethics and Financial Reporting Accounting is a critical tool used by managers in the decision making process. The nancial statements of a rm show how well the organization has performed in the past and help indicate what course of action the company can take in the future. Of course, the value of the rm's nancial statements is only as good as the numbers presented in the statements. If the numbers are false or erroneous, whether intentionally or not, the value of the nancial HSBC: Products for Tax Evasion and Money Laundering, but No Free Toaster In 200?, Herv Falciani stole a large number of data les from his employer, HSBC. Headquartered in Geneva, Switzerland, HSBC was well known to accommodate the needs of nontraditional clients. A former computer security specialist, Falciani acquired les that listed more than 100,000 names of people who had accounts at HSBC who used the accounts to evade taxes, to launder money, and to commit other illegal activities.l The clients on the list included rms that were linked with selling arms to child soldiers in Africa, Third World dictators, and blood diamond traffickers.g Under the umbrella of secrecy, HSBC had protected these transactions from scrutiny from various governments. HSBC would offer their clients products such as the creation of shell corporations, trusts, and other methods to shield the money. It was estimated that more than 4,000 of the clients had a connection to the United States, with more than $13 billion in HSBC accounts. The files showed one New Jersey client insisted that she got assurances from the HSBC that the IRS would not have access to her account. It is a felony in the United States for any bank, regardless of location, to assist a United States citizen in evading United States federal taxes. After he stole the les, he ed to France and turned over eight DVDs of encrypted data to French authorities. It took approximately one year to decipher the files, and the French government was able to reclaim between $250 and $300 million from penalties related to tax evasion. In 2012, HSBC had to pay a $1.9 billion settlement in the United States for their involvement in laundering money for a drug cartel. The man at the center of the scandal, Herve Falciani, is still on the run from Swiss authorizes. The Swiss government considers him a thief, yet he believes he is a whistleblower. His err-girlfriend stated that the real motive of F alciani was to sell the les and make millions of dollars. She claimed he attempted to sell the les in Lebanon before he gave them to the French authorities. HSBC's response was \"[We] have undergone a radical transformation . . . [and] . . . We have taken significant steps over the past several years to implement reforms and exit clients who did not meet strict new HSBC standards, including those where we had concerns in relation to tax \" compliance. Read the case \"HSBC: Products for Tax Evasion and Money Laundering, but No Free Toaster\" on p. 69 of your textbook. Posting #1: Answer the following questions for your first posting. Use Your Last Name HSBC's Ethical Problems for your subject heading. 1. What do you think is the underlying reason why HSBC started having ethical problems? 2. How does shipping equipment manipulate HSBC'snancial statement? You will need to think outside the box to provide your response. 3. What is unethical about the CEO receiving perks from HSBC