of Enron were the large number of highly complex accounting entries. For example energy traders were required to book all the projected profits from a supply contract in the quarter in which the deal is made. Such accounting procedures are inherently risky as they make assumptions about price forecasts which can drastically affect earnings. Another inherent risk factor is the frequency of related party transactions. The special purpose entities Enron was trading with were created by Enron and
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“Mistakes make you realize what you had‚ what you lost and what you’ve taken for granted. They make you realize that sometimes there are no next times no timeouts and no second chances… but life is a work in progress as long as we live‚ we have every chance to correct.” If you make a mistake it shows you what you what you’ve taken as granted and maybe there will be no second chances but as you live you can correct the mistakes. Giving someone a second chance you teach them something that would benefit
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leaseback in 2009…………………………. 150‚000.00 Less: Accumulated amortization of deferred gain on sale-and-leaseback (2009-2011).. (90‚000.00) Stockholders’ Equity according to IFRS $8‚720‚000.00 Explanation of adjustments made to income and stockholder’s equity 1). Inventory: - Under U.S. GAAP‚ Bessrawl Corporation is allowed to report inventory on its balance sheet at lower of cost or market. Market in this case is defined as replacement cost ($180‚000) with net
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Enron “The Smartest Guys in the Room” The Enron: The smartest guys in the room it’s a documentary film based in an important and huge company that was involved in a huge scandal in the American history. The Enron Corporation when they first start was a successful company. In its beginning‚ Enron was a small company from Texas‚ after years Enron became in the seven largest business in the U.S. with a smarts an experts employees working for Enron. The founder was Ken Lay a smart executive. The company
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Below are some of the most common English mistakes made by ESL students‚ in speech and in writing. Wrong | I have visited Niagara Falls last weekend. | Right | I visited Niagara Falls last weekend. | 1. Wrong | The woman which works here is from Japan. | Right | The woman who works here is from Japan. | 2. Wrong | She’s married with a dentist. | Right | She’s married to a dentist. | 3. Wrong | She was boring in the class. | Right | She was bored in the class
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Case summary – Enron Corporation’s Weather Derivatives Steve Haik‚ Dan Sleker and Bas van Bellegem – March 2003 Background In October Mary Watts‚ CFO of Pacific Northwest Electric (PNW) reviewed the forward plan for PNW’s 200-2001 season. PNW’s has been experiencing nearly no EPS growth since 1995 due to deregulation and warmer-than-average winter climate. The stock price had suffered accordingly‚ but there maybe a way to hedge the weather risk via a new “weather derivative” being proposed by
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The collapse of Enron case study Q1. The key stakeholders involved in‚ or affected by the collapse of Enron are: employees and retirees‚ thousands of them lost their jobs and the investment; the executives: Kenneth Lay‚ Jeffrey Skilling and Andrew Fastow they sold significant blocs of company stock‚ have conflicts of interests; government figures‚ Lay had close personal tie with the Bush family‚ Enron’s efforts influence policy making; regulatory authorities: Commodities Futures Trading Commission
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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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HCa919/2010 IN THE HIGH COURT OF THE HONG KONG SPECIAL ADMINISTRATIVE REGION COURT OF FIRST INSTANCE ACTION NO 919 OF 2010 ------------------------- BETWEEN FINE MASTER LIMITED Plaintiff (萬廣有限公司) and NIPPON CIRCUITS LIMITED Defendant (東陽電路板有限公司) ------------------------- Before : Deputy High Court Judge Woo in Court Dates of Hearing : 5‚ 6 and 7 March 2013 Date of Handing Down of Judgment: 12 March 2013 ----------------------- J U D G M
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Republic of India Sandra Cox Sociology 300 Dr. Anjel Stough - Hunter May 30‚ 2013 Republic of India This paper is about the third world country of the Republic of India I will cover 8 major points in this paper as follows. * Geography and History - describe the geographic location of the country and history * Rural/Urban * Economic development * Social * Political – describe the current type of government * Religion * Status of women * Current development
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