1. With such a difficult decision‚ the anonymous caller could either report the fraudulent financial statements or go along with top management and risk being caught or being blamed for the misstatements. It is possible that the caller would face legal trouble at some point in the future if she decided to sign off on the statements. If the bank were to discover the overstated financials‚ the extended credit would be immediately revoked. It is necessary for the caller to evaluate all of the
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Unit 9 Final Project: Integrity in Accounting “In 2001 and 2002 corporate giants like Enron‚ Global Crossing‚ and WorldCom were forced to declare bankruptcy‚ and massive accounting and other irregularities were revealed… In response to the public outcry that ensued‚ the [Sarbanes-Oxley] Act was enacted” (Lander‚ 2004‚ p. 1). Officials feared that because of these scandals in the financial reporting industry that investor confidence would be lost‚ which would cause the economy to deteriorate.
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1. What did Arthur Andersen contribute to the Enron disaster? Arthur Andersen (AA) contributed to the Enron disaster when AA consulting became its own separate entity‚ named Accenture. Revenues from consulting services surpassed revenue from auditing services. A natural competitiveness grew between the two rivals and this is where the problems began to start. Management held maximinizing revenues as their primary focus of success and promotions/bonuses were based on this factor. The CEO of AA‚ Joe
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Bibliography: Internet * PANCHOO‚ O.‚ 2008 * MARTIN‚ P.‚ 2005. Ebbers found guilty in WorldCom fraud: a case study of US Corporate Criminality [online]. Available from: http://www.wsws.org/articles/2005/mar2005/ebb-m18.shtml [Accessed 2 November 2010]. * MILLER‚ M.‚ 2008. Business Ethics (Importance of Business Ethics) [online]. USA. Available
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The overarching argument that Gabriel Paquette makes is that the dissolution of the Spanish empire was caused primarily by: proto-nationalism‚ Spanish misrule‚ and the Napoleonic occupation of Spain. Paquette breaks down his thesis by first providing background information and then introduces two competing historical perspectives. The first perspective relies on more immediate causes of the dissolution such as Bourbon reforms‚ new demographic pressures‚ and Enlightenment ideals that inspired revolution
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particularly suitable approaching to zero-order (constant) release over 8 h time periods. © 2006 Elsevier B.V. All rights reserved. Keywords: Biphasic release; Multiple unit dosage form; Compaction of mini-tablets; Tablet characteristics; Tablet dissolution 1. Introduction Oral controlled release drug delivery systems can be classified in two broad groups: single unit dosage forms (SUDFs)‚ such as tablets or capsules‚ and multiple unit dosage forms (MUDFs)‚ such as granules‚ pellets or mini-tablets
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that they can compare whether product of the company fit the requirement of consumer also whether the product is good for their health. 2. Using an example‚ explain what is meant by business ethics. Answer: A corporation in America‚ known as WorldCom was revealed a $3.8 billion accounting fraud. The company manipulated the financial statements by counting $3.8 billion as capital expenses which was actually spent on their everyday expenses which are treated differently in accounting literature
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WORKSHEET FOR PURE AND MIX SUBSTANCES Which of the following methods can be used to separate salt from a mixture of salt and water? A. | | Filtration | B. | | Decantation | C. | | Evaporation | D. | | Sedimentation | Use the following information to answer the next question. The soil present in the backyard of Catherine’s house is very rocky and contains a lot of small rocks. Catherine wants to use this soil to pot some plants. However‚ she first wants to separate the rocky parts
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A. Summary In 1913‚ Arthur Andersen LLP was found in Chicago‚ developed to become one of the “big five” largest accounting firm in the US. In 2003‚ after 90 years of business‚ the Chicago-based accounting firm was forced to close its doors because of accounting scandal I. The advent of consulting In the 1950s‚ Andersen began providing consulting services and over the next 30 years‚ Andersen’s consulting business became more profitable. With quick development of consulting sector‚ in
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gain an unfair advantage against other companies. However instead of creating long term benefits‚ these actions most likely will end up causing problems such as legal complications and general mistrust. The recent scandals of Enron‚ Tyco‚ and WorldCom are examples of only few of the many companies that have permanently damaged their operations due to their inability to conduct proper business. Vittal’s (2005) in his article has said that: The issue of ethical practices and clean governance
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