CONCLUSION The BRICS Development Bank is expected to start operations in 2016‚ providing a crucial two-year window to state the policies and instruments that would define the scope of its operations. We think the BRICS countries should meet the call to develop an institution that is revolutionary in its vision and the manner in which it functions. The Bank is expected to not only address developmental challenges within the five countries that are leading it‚ but also generate greater resources for
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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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Problem: What can Enron do to salvage the Dabhol project and its ties to India? After nine years of an obvious debacle‚ it seems that Enron and the Indian government have reached a state of impasse‚ where a sustainable long term relationship cannot be achieved. Enron has chosen to terminate the agreement by offering to the Indian Prime Minister Enron’s 65% equity in DPC for US$1.2 billion and offshore debt for US$1.1 billion. o Various political parties have consistently used Enron as an issue to
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In conclusion‚ after conducting the lab‚ the emergent properties of water were tested and proved. These trials and experiments were able to verify the adhesion‚ cohesion‚ polarity‚ temperature stabilization‚ solvency‚ and density changes exhibited by water. During the glass and wax paper lab‚ we observed the adhesive properties of water. When a droplet of water touched the glass‚ it dispersed immediately. The droplet placed on the wax paper remained intact and in droplet form. Also‚ when the
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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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Arthur Anderson & Co. was also to blame as they were the accountants for Enron. They were the ones with the expertise who should have known better and looked to fully explain and disclose what they knew. Anderson’s commitment is to the shareholders‚ not to their client and they needed to act in a way and present the statements fairly so that a user could make an informed decision and that the statements presented fairly. Enron is also to blame. They were focused on profits – which is not necessarily
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CASE 4-1: Bessrawl Corporation Reconciliation of net income from U.S. GAAP to IFRS 2011 Net Income according to U.S. GAAP attributable to equity holders of Bessrawl Corporation ………… $1‚000‚000.00 IFRS adjustments: Add: Reversal of inventory cost written down to replacement cost….. 10‚000.00 Less: Additional depreciation of building after 2011 revaluation……..
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Enron The affect of the unethical behavior of the profitability of Enron was that the third party “outside” independent auditors was not able to backup and have accounting financial statements‚ some of those auditors and financial institutions may have been misled by the corporation’s net income. If I was an accountant for this company I would have followed regulated federal security laws‚ and if failed to provide prove of documents or financial statements‚ I would admit to my mistakes but also
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To sum it all up‚ the Anglo-Saxons a culture best described in their literature as brave‚ loyal‚ generous and friendly were a tribe of warrior-farmers. Who were around from 410AD until 1066. They came from North-Western Europe. They loved fighting and were a very fierce group of people. As a result of that they invaded Britain while the Romans were still in control. But just like other people some Anglo-Saxons came to Britain to fight‚ while others came peacefully‚ to find land to farm. They loved
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“If you believe in something‚ you must be prepared to fight. To argue. To persuade. To introduce legislation again and again and again.” ("Maxine Waters Facts" 2017). I can name so many people who have shown outstanding and ambitious political actions during and after President Kennedy’s birth year. I can name both men and women‚ but nothing is as powerful as an African American woman. But you never would have guessed that one of the strongest women are in St. Louis. Maxine Waters has a status of
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