There are two overarching goals to this case study. First, the authors want to introduce students as early as possible in their study of business to the perils of deliberate misstatements of income in financial statement and the significant consequences that await those who do. Given the recent business scandals involving mortgage-backed…

Fiscal responsibility matters at institutions of higher learning, especially when they are public and supported by taxpayers, but colleges are not businesses. The consequences of fiscal irresponsibility profoundly affect students, faculty, and staff, as well as teaching, research, and service activities. This essay gives a brief history of the…

Problems in the administration of student aid programs are documented in this semiannual report by the Department of Educations's Office of Inspector General (OIG). Chapter 1 describes abuses of the Department of Education's student financial assistance (SFA) programs, improper screening of participating schools, illegal access by ineligible…

The major legal issues surrounding trustee financial exigency decisions, the fiduciary duties of trustees to preserve net institutional assets, and potential trustee liability for a decision to close an institution prior to bankruptcy are examined. (Author/MSE)