ENRON: A FINANCIAL REPORTING FAILURE? Anthony H. Catanach Jr.1 Associate Professor 610-519-4825 anthony.catanach@villanova.edu and Shelley Rhoades-Catanach Associate Professor Both at Villanova University College of Commerce and Finance Department of Accountancy INTRODUCTION The dramatic collapse of Enron Corporation‚ following a series of disclosures of accounting improprieties‚ has led many to question the soundness of current accounting and financial reporting standards. Within Enron’s reported
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Web 2.0 and public relations “The greatest craving of humans is to express and to be understood” Humans love and desire connection with others. The boom of internet age is the proof of this desire. Internet survived the dot com bubble and the world saw the rising of giants like Google and Yahoo who thrive on information sharing and “connecting” people through chat rooms and social networking. The desire to express finds its manifestation through newer channels like blogs and social networks which
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Are People the "Puppets of Society"? Student Notes 2 ARE PEOPLE THE "PUPPETS OF SOCIETY"? What makes people behave in the ways they do? Are their actions determined by forces beyond their immediate control or are they able to choose and select their behaviour with an element of free choice? This is one of the oldest problems philosophers and social scientists have grappled with and it still emerges in many debates today as the example below illustrates. The problem has led to a long
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Case 1.4 AMRE‚ Inc. 1. Generally‚ ethics refer to moral principles and values. Random House Webster’s College Dictionary notes that ethics are “the rules of conduct recognized in respect to a particular class of human actions or governing a particular group‚ culture‚ etc.” An individual ’s ethics generally define what that individual believes to be right and wrong. Professional ethics are typically expressed by a code of conduct adopted by an organization that represents a profession. Professions
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seemed eliminate confidence by the business world about the practice of good corporate governance in the United States. Enron was a company that was ranked as seventh out of the five hundred leading companies in the United States and is the largest U.S. energy company that went bankrupt leaving debts amounting to nearly U.S. $ 31.2 billion. In instance with the case of Enron known occurrence of moral threat behavior such as manipulation of financial statements with a record 600 million dollar profit
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Journal of Finance and Accountancy Arthur Anderson Auditors and Enron: What happened to their Texas CPA licenses? Daniel Edelman Texas A&M University-Commerce Ashley Nicholson Texas A&M University-Commerce ABSTRACT This article examines Arthur Andersen‚ its role with Enron‚ and what happened to some of its key players. The demise of Arthur Andersen and Enron was significant. Thousands of people lost their jobs and investments. As a result‚ new laws for publicly traded companies and auditing firms
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The Enron Accounting Scandal Presented By: Jennifer Buondonno Nirmala David Robert Pufky Matt Rollings ENRON Page 1 of 27 Table of Contents Executive Summary……………………………………………………………..3 (I) Introduction to the Enron case and the organizations involved……. 5 Background information & industry…………………………………………….. 5 Organizations and officers involved……………………………………………..6 Accounting firm and partners involved………………………………………….8 Enron’s industry………………………………………………………………….. 9 Enron’s injured parties……………………………………………………………
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As a nursing student‚ I learned to shave patients in preparation for surgery; as a public health nurse‚ I taught mothers to clean their infants’ umbilical cords with alcohol and showed patients newly diagnosed with diabetes how to wipe the skin with alcohol before injecting insulin. Since then‚ high-quality research has shown that pre-operative shaving increases rather than decreases post-operative infections (Kjonniksen et al. 2002)‚ that cleaning umbilical cords with sterile water shortens the
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Equilibrium is the state in which the competing influences of a system are balanced. In this experiment‚ four activities were conducted to study equilibrium namely Equilibrant Force‚ First Condition for Equilibrium‚ Locating the Center of Gravity and Second Condition of Equilibrium. The % Error obtained for the following activities were 14.13% and 2.35% for Activity 1‚ 4.90% for Activity 2 and 7.52% for Activity 4. Friction is the resistance to motion of one object moving relative to another
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Litwiller‚ B.‚ & Brausch‚ A. (2013). Cyber Bullying and Physical Bullying in Adolescent Suicide: The Role of Violent Behavior and Substance Use. Journal Of Youth & Adolescence‚ 42(5)‚ 675-684. INTRODUCTION Studies have shown that the impact of bullying in all forms on the mental health and safety of adolescents is of particular interest‚ especially with new methods of bullying due to such high usage use of new and modern technology. The purpose of this research was to examine “the relationship
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