Homework Chapter 10 1. Which of the following statements is CORRECT? a. The internal rate of return method (IRR) is generally regarded by academics as being the best single method for evaluating capital budgeting projects. b. The payback method is generally regarded by academics as being the best single method for evaluating capital budgeting projects. c. The discounted payback method is generally regarded by academics as being the best single method for evaluating capital budgeting projects
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Enron Corporation: THE RISE AND FALL; ACCOUNTING SCANDAL Submitted To: Professor Bill Bristol Submitted By: Kenneth Rhodes‚ Jr. Metropolitan College of New York (MCNY) TABLE OF CONTENTS I. ABSTRACT...............................................................................................................................2 II. purpose and service....................................................................................................3 III. HistorY.............
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Running head: THE IMPORTANCE OF FULL DISCLOSURE 1 The Importance of Full Disclosure and Financial Reporting for Informed Financial Decision Making The Importance of Full Disclosure and Financial Reporting for Informed Financial Decision Making Financial reporting and full disclosure are vital elements for investors and other interested parties who would like detailed information about a particular firm. This information gives a vivid
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separately. Such synergies may result from the firms’ combined ability to exploit economies of scale‚ eliminate duplicated functions‚ share managerial expertise‚ and raise larger amounts of capital. These distinguishing features had made Nicholas Anaptyxi‚CEO of Paragon to battle it out with his colleagues to acquire MonitoRobotics.The case study portrays Nicholas as a visionary and a hard-driving builder who belonged to the same thought of train as his father. They both believed that to get better they
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Controlling 6 References 8 1. Planning In the case that we are studying‚ Don Anglos and Pinnacle have to make the decision whether Pinnacle Machine Tool Co. should acquire Hoilman Inc. or not. Don Anglos‚ the CEO of Pinnacle Co‚ Jennifer Banks‚ services division head and Sam Lodge‚ CFO‚ are taking the steps to make the most appropriate decision. According to many economists (Anderson et al.‚ 2008)‚ the steps in the decision making process are the following: 1. Identify and define the problem
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Case 1.1 - Enron Corporation ------------------------------------------------- Discussion 1 The parties we believe to be most at fault for the crisis in this case are a) the Audit Firm engaged in the Enron audit (Arthur Andersen); b) Enron Management (Kenneth Lay‚ Jeffrey Skilling‚ Andrew Fastow; and c) the SEC. The Public Accounting Firm: Arthur Andersen The auditor has the responsibility to evaluate the risk of material fraud‚ including: * Incentives and motives for fraud : Enron was a fast
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Information Officer (CIO) * Other IS Managers * IS Professionals * Business Managers * End Users Typical IS Organization Chart Assig#1: Identify the roles of * CEO‚ CIO‚ CISO‚ COO‚ CFO‚ CKO‚ VP * chief executive officer (CEO) * Chief Information Officer (CIO) * Chief Financial Officer (CFO) * Chief Information Security Officer(CISO) * Chief operating officer (COO) * Chief Knowledge Officer (CKO) * Vice-President (VP) Review Questions 1. Define what is encompassed
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masterminded by a few individuals‚ primarily Garth Drabinsky and Myron Gottlieb. However‚ numerous individuals were eventually drawn into Livent’s fraudulent schemes by its principal architects‚ including Maria Messina‚ the company’s chief financial officer (CFO). Messina‚ a former partner with Deloitte & Touche’s Canadian affiliate‚ had previously served as Livent’s audit engagement partner. The fraud unraveled following Livent’s takeover by an investment group led by Hollywood mogul Michael Ovitz. The
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In the case of Deloitte & Touche there error was telling Molex‚ Inc that thy would only be able to complete its review of the first quarter results in connection with the company’s 10-Q filing when representations were received from the new CFO and a new CEO and if both King and Bullock were removed as executive officers having no influence over financial reporting or internal controls. 2. Describe what you think the auditors should have done differently and explain why. Deloitte & Touche
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In the aftermath of the Enron fiasco‚ the Securities Exchange Commission (SEC) in the United States introduced a mandatory requirement for its registrants (except for those that qualify as foreign private issuers) to have quarterly reviews of interim F/S by their independent public accountants. A decade later‚ the Auditing and Assurance Standards Board (AASB) in Canada is considering whether interim F/S should be subject to mandatory reviews. The advantages and pitfalls associated with such a change
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