www.ccsenet.org/ijbm International Journal of Business and Management Vol. 5‚ No. 10; October 2010 The Case Analysis of the Scandal of Enron Yuhao Li Huntsman School of Business‚ Utah State University‚ Logan city‚ U.S.A E-mail: wyl_2001_ren@126.com‚ carolee1989@gmail.com Abstract The Enron scandal‚ revealed in October 2001‚ eventually led to the bankruptcy of the Enron Corporation‚ an American energy company based in Houston‚ Texas‚ and the dissolution of Arthur Andersen‚ which was one of the
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Enron and How it Affected the Accounting Industry Enron once was one the United States largest energy company and was ranked Fortune’s seventh richest corporation in the United States. When Enron had a filed for Chapter 11 bankruptcy in 2001 it unraveled to be one the biggest accounting scandals in United States history. There are many factors that contributed to Enron’s demise but their aggressive and unethical accounting practices were the key component. As a result‚ the accounting industry
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Professional Standards November 28‚ 2012 Meta tags are used in many ways to promote accessibility and search engine optimization. They are usually placed between the <head> and </head> tags. With these tags is where you place the description of your website. It can also be used to place the name of the author of the site. When you go onto a search engine to search for something the search engine looks for these tags to bring up the search results. Let’s say you are doing a
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January 2‚ 2015 Auditing Theory Mr. Red Feliciano Enron Corporation’s Case Analysis Reference: Auditing and Assurance Principles by Jose Ireneo‚ Shirley Ireneo and George James 1. A. Fastow is one of the most responsible because being the Chief Financial Officer or CFO of the Enron corporation‚ he had a major influence. He was guilty of fraud‚
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Audit case You are the engagement partner in a firm of chartered accountant and are reviewing the audit fire of a client ABC ltd. the audit manager has recommended that the audit option is qualified because he is in dispute with the directors of ABC ltd. The audit manager wishes the directors to create a large doubtful debts provision against a major debtor that is over six months old. The directors do not witch to alarm the public about the current liquidity problems of their major costumer because
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Professional Standards Web standards promote higher accessibility and usability; it suggests a set of rules in which every developer can follow and understand (Boudreau‚ 2002). Standards set by W3C‚ World Wide Web Consortium‚ will ensure that most browsers used will present the website as it was intended to be‚ without time consuming rewrites of code for specific browsers (W3schools‚ 2013). Accessibility is very important as it allows the web to be used by individuals with disabilities but
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Arthur Andersen’s Troubles 1. Arthur Anderson (AA) should have been able to help prevent to some extent the Enron disaster‚ however‚ they either missed or ignored Enron’s manipulations allowing the fraud to continue as long as it did. AA contributed to the disaster by approving the structure of many Special Purpose Entities (SPE)‚ which Enron used for off-balance sheet financing. The SPEs did not meet the requirements of an independent company and should have been consolidated with Enron’s
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Jennifer Ford PTLLS Chapter 1 Professional Standards for Teaching There are six domains that make up the professional standard for teaching in the lifelong learning sector: • • • • • • Domain A: Values and Practice Domain B: Learning and Teaching Domain C: Specialist Learning and Teaching Domain D: Planning for Learning Domain E: Assessment for Learning Domain F: Access and Progress Each are divided into three sections: • • • Scope Knowledge and Understanding Practice Scope outlines
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Enron and WorldCom Case Study This report is based on the demise of Enron Corporation and WorldCom. Both the firms are demised due to the ethical lapses. These ethical lapses come into existence when managements of the firm‚ uses unethical practices to accomplish the goals of the firm. Maintaining financial and accounting standards in the business practices are necessary. The profession of accounting has become a mockery due to the accounting scandals that took place all over the world in the
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Enron a Case Study Enron‚ once known as the worldwide leader in energy trading‚ began as a natural gas pipeline company. “At its peak‚ Enron brokered up to 20 percent of America’s energy transactions. These included basic contracts to deliver natural gas from wells to pipelines for distribution to homes‚ contracts for the purchase of electrical power facility out port‚ and more complex financial contracts‚ which allowed power companies to manage price and market risk” (Ackman)
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