Effects of the Enron Scandal (Kassie) The Enron scandal had a great effect on the United States‚ with an impact on individuals from the consumer level to those running the company as well as the stock market and investors. Throughout the scandal‚ 4‚500 employees lost their jobs and investors lost approximately $60 billion dollars within a few days. The loss of such a large sum of money meant the loss of old-age and retirement security for many of the investors who put their money and faith in the
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Week 2 Homework 4-8 |Under SEC rules‚ your close family members include your spouse (or equivalent) and dependents and your parents‚ nondependent | |children‚ and siblings. If you are a covered person‚ your independence is affected if your close family member has an accounting | |role or financial reporting oversight role with the SEC Audit Client (for example‚ the family member is a treasurer‚ CFO‚ | |accounting supervisor‚ or controller) or owns more than 5 percent of a client’s
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Figuring “fixed costs‚ variable costs‚ and” (Oppapers.com‚ 2012) BEP Week 4 Tina Whittington HSM/260 May 11‚ 2014 Laura Huffaker Figuring fixed costs‚ variable costs‚ and BEP Week 4 10.1 The highest number of meals served was 4‚900 in December‚ with the lowest of meals being 3‚500 in July making a difference of 1‚400 of meals served‚ between the two months. The cost per meal variable is 1400÷$5500.00 for a total of $3.93 (WHDM’s) fixed cost is computed as follows $20‚500.00-(3‚500*$3.93)
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Sandra Wilson Week 2 Discussion 1 Dreams Do Come True Imagine that you have decided you need a new car‚ but not any car will do; you have decided to purchase the car of your dreams. Conduct some research as to the cost of this car. You have determined in this imagined scenario that you could afford to make a 10% down payment. You can borrow the balance either from your local bank using a four-year loan or from the dealership’s finance company. If you purchase from your dealership’s finance
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E9-1 The following expenditures relating to plant assets were made by Spaulding Company during the first 2 months of 2011. 1. Paid $5‚000 of accrued taxes at time plant site was acquired. 2. Paid $200 insurance to cover possible accident loss on new factory machinery while the machinery was in transit. 3. Paid $850 sales taxes on new delivery truck. 4. Paid $17‚500 for parking lots and driveways on new plant site. 5. Paid $250 to have company name and advertising slogan painted on new
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the period in which the sale was made. There are three essential accounting features to the allowance method: 1. Uncollected debt for accounts receivable are matched against revenues within the same accounting period in which they are recorded. 2. Estimated uncollected debt are debited to bad debts expense and credited to Allowance for Doubtful Accounts via an adjusting entry at the end of each period. 3. Allowance for Doubtful Accounts are actually debited and credited to accounts receivable
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Consider all of the presentations from the employees’ perspective as a whole‚ as so forth. Rank as high‚ medium‚ or low. Importance: An overall ranking of the importance of taking into consideration the stakeholders’ concerns. 1 equals high importance; 2 equals medium importance; 3 equals low importance. |Stakeholder |Interest in the Issue |Influence |Urgency |Persuasiveness |Importance |
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Worldcom appeared to be a great success story. However‚ the success began to unravel with the accumulation of debt and expenses‚ the fall of the stock market‚ and long distance rates and revenue. It would take 2 years for the extent of these problems to become public‚ and accounting scandals like that of Worldcom would make history in the finance and telecommunication areas. While the intent is to make money to benefit a person or a group of people through illegal acts while disguising their illegal
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Enron was once one of the world’s leading electricity‚ natural gas‚ pulp‚ paper and communications companies. However‚ in December 2‚ 2001‚ Enron suddenly filed for bankruptcy. During the ten years before Enron¡¦s went bankrupt‚ Enron¡¦s management had started transferring Enron¡¦s funding to personal accounts and made fake balance sheets‚ which provided investors information about how this company goes. (Gibney‚ 2005) These illegal actions‚ performed by certain individuals‚ finally led Enron to
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The Mayor should instead build a new nursing home and then knock down the old one to build the mall and resort in the town The Mayor who may only look at choices as a one-way street should accept the decision of the proposal only because if the community needs the economic boost it should be looked upon as a positive upbringing rather than a negative effect on the town. The Mayor faces a hard decision because he does not want to leave anyone behind. Even though the mall may be nice‚ both sides
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