What are the various types of current liabilities? What makes a liability current? Why is it important to distinguish between current and long-term liabilities?

Find an article about a recent accounting scandal (within the last few years). Describe the ethical situation involved and the stakeholders that were impacted by the scandal. Discuss the implications of the fraud that was perpetrated. Explain the sanctions that were levied against the accountant(s) and management (if applicable). In your opinion, do you feel the sanctions were appropriate? How could this situation have been prevented?