Expertly Crafted Essay On Any Accounting Manipulation Ends In Dire Consequences And Affects The Credibility Of The Person To A Great Extent.

The article I referred to is http://www.wsj.com/articles/sen-bob-corker-failed-to-properly-disclose-millions-of-dollars-in-income-1450051046.
Sen Bob Corker has failed to disclose a large amount of income from various sources which fall in real estate, investments and hedge funds. It comes to knowledge that Mr. Corker had failed to disclose about $2 million in investments income. This shows an ethical accounting failure because the information was intentionally hidden.
The decision to not show the information was Mr. Corkers. Because the information was not disclosed for many years at a stretch. He then disclosed the information once he was caught. Tough the office of Mr. Corkers mentioned that they were only using a different method of reporting hence this situation came up.
The possible course of action here is to punish Mr.Corker for manipulation of accounts and not providing genuine and correct information. In addition, Mr.Corker should be asked to rectify the financial statements and pay the taxes he is liable to pay after the statements have been changed.
The positive consequences are that the liability of tax will be low and the investments will remain a personal benefit to Mr. Croker. Whereas the negative benefits are the since the accounting manipulation has been discovered, he will have to disclose the information and pay taxes for the same. As well as he will lose credibility and reputation in the investment market. This will negatively affect his future and his business as well. The investors will lose faith in him and will ask for their money which they would want to secure.