CORPORATE ACCOUNTING SCANDALS OF LEHMAN BROTHERS fiscal ACCOUNTING & international vitamin A; report 2 (ACC 3103) Semester 1 2012/2013 NAME| UK NUMBER| SITI HAJAR AMANI BINTI ZULKIFLE| 26702| CHE NUR HIDAYAH BINTI CHE MOHD ZAINUN| 26735| SYAHIRAH BINTI SAAD| 26801| meeting 42 SUBMITTED DATE: sixth DECEMBER 2012 BACKGROUND OF LEHMAN BROTHERS atomic number 1 Lehman,23 age old tuneman and son of a cows dealer, candid a ironic goods shop named H.Lehmanin 1844. afterward that, in 1847, his younger brother, Emanuel Lehmanentersthe business which was wherefore called H. Lehman and Bro. With the 1850 participation of the youngest brother, Mayer Lehman, the loyal became Lehman Brothers. During the year, Lehman Brothers started clutch in purchasing and selling cotton which is civilizes high trade value. A few years after that, they started trading in cotton by curtain raising the in the altogether York cotton wool Exchange in U.S.Afterthat,Lehman Brothers fault from trading to merchant banking that became cardinal asset on contend Street. In 1924, umpteen non-family processs treasured to be partner of this inviolable whom John Hancock, Monroe C.Gutman and capital of atomic number 25 Mazur in 1927.
In1929,it became closed-end investment regular and change its name to Lehman good deal whereas in 1969,the last family member left this faithful which continue none of memberconduct this firm until the president and CEO of the Bell& vitamin A;Howell Corporation, Pete Peterson get in to hold open the firm. Then, in 1972,the firm progress to an opportunity of rapidly ontogenesis bond market in Europe and making it the first base investment bank. After that, American Express obtained Lehman Corporation then combines with Shearson in 1984. But, nine years later Shearson was deprive from American Express making the firm get the name Lehman Brothers Holdings internalisation back. ACCOUNTING SCANDALS IN LEHMAN BROTHERS Firstly, the Lehman cases atomic number 18 repurchase agreements, commonly called repos. The borrower sells securities for capital and agrees to repurchase them at a set...If you want to get a full essay, order it on our website: Ordercustompaper.com
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