1.0 SUMMARY OF FACTS OF THE CASE STUDY After understanding the overall of case study‚ Arthur Andersen: Questionable Accounting Practice‚ we have identified a few facts. The following subsection will present the facts. 1.1 ARTHUR ANDERSEN Arthur Andersen LLP was founded in Chicago in 1913 by Arthur Andersen and partner Clerence DeLeny. Over a span or nearly 90 years‚ the Chicago accounting would became known as one of the “Big Five” largest accounting firms in the United States together
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Determinants and consequences of early marriage in Java‚ Indonesia. Savitridina R. Abstract PIP: This study analyzes the determinants and patterns of early marriage and explores its consequences on marital dissolution‚ work status and occupation‚ migration‚ and contraceptive use in Java‚ Indonesia. Data from the 1991 Demographic and Health Survey are obtained on 5816 ever married women‚ 15-49 years old‚ living on Java. Early marriage occurs among women before age 20. Subjects are grouped as
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Duck theorised that the amount of reasons why relationships break down are infinite‚ but that there are three categories these reasons can be put into: -Pre-existing doom‚ failure of the relationship‚ for instance incompatibility are pre-destined -Mechanical failure‚ the most common cause‚ two people who suit each other and have good intentions and good natures find they can’t live together -Sudden death‚ for example discovery of cheating can immediately end the relationship Duck identified
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saturation state of aragonite or calcite is greater than 1‚ the formation of shells and or skeletons is favored whereas for values less than 1.0‚ the seawater is corrosive to CaCO3 (John M. Pandolfi). This corrosive condition results in dissolution. Dissolution of the carbonate minerals calcite‚ aragonite‚ and high-Mg calcite is one of the driving forces for absorption of CO2 into the ocean. Because saturations states of the carbonate system depend immensely on pH‚ minute changes in the ocean pH
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as accounting irregularities and fraud. More seriously‚ it developed a number of lawsuits from1997 to 2005‚ which impelled the SEC to keep a close watch on‚ from its client such as Baptist Foundation of Arizona‚ Sunbeam‚ Waste Management‚ Enron‚ WorldCom‚ Global Crossing‚ and Qwest Communications. Especially Enron’s bankruptcy was a deadly strike of Andersen. Andersen’s collapses made an effect on the regulation on accounting ethics‚ for instance‚ the Sarbanes-Oxley Act passed by the congress in
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observe. But‚ when things go wrong‚ they can become the center of attention. Certainly this was true of the Enron‚ Worldcom‚ and Parmalat scandals. The directors of Enron and Worldcom‚ in particular‚ were held liable for the fraud that occurred: Enron directors had to pay $168 million to investor plaintiffs‚ of which $13 million was out of pocket (not covered by insurance); and Worldcom directors had to pay $36 million‚ of which $18 million was out of pocket. As a consequence of these scandals and
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1. Arredondo‚ Inc. has current assets of $2‚170‚ net fixed assets of $9300‚ current liabilities of $1350‚ and long-term debt of $3980. Building a balance sheet for this company‚ address the following questions: a. What is the value of the shareholders’ equity account for this firm? b. How much is net working capital? Arredondo‚IncBalance Sheet | Assets Liabilities and Owener`s EquityCurrent assets $2‚170 Current
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Partnership Partnership is a long-term commitment to operate in business together. The people who own a partnership are called partners. They maintain one set of accounting records and share the profits and losses. Nature of Partnership 1. It is formed to make profits 2. It must obey the law as given in the Partnership Act 1890. If there is a limited partner‚ it must also comply with the Limited Partnership Act of 1907. 3. Normally there can be a minimum of two partners and a maximum of
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executives expect to get away with it. They also fit the financial-corporate culture described above. And earnings manipulation is part of (and usually central to) most of the scandals. Some of them used brazen and unsophisticated approaches (such as WorldCom)‚ while others used new‚ sophisticated devices to defraud (like Enron). Determining the existence of criminal acts takes years. Two industries were particularly prominent in the scandals: the energy companies and telecommunications. Deregulation
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many factors that inspire organizations to assure and push ethical policies. In the last seven years‚ the world has witnessed stunning financial collapse in many companies that were ranked among the most admired in America. Companies like Enron and WorldCom‚ left an impact the way ethics is valued and viewed among companies. What went wrong? The question that arises is what form of ethics or education training did the involved auditors‚ accountants and managers receive? Ethics training and study
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