The Accounting Scandal Enron Corp. Collapse and WorldCom Accounting Scandal 11/18/2020 The Enron Corp. collapse Formed in 1985 from a merger of Houston Natural Gas and Inter-north‚ Enron Corp. was the first nationwide natural gas pipeline network. Over time‚ the firm’s business focus shifted from the regulated transportation of natural gas to unregulated energy trading markets. The guiding principle seems to have been that there was more money to be made in buying and selling financial
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those that enter the desert‚ never return. In the true account The Devils Highway by Luis Alberto Urrea‚ The Welton 26 faced betrayal‚ hardship‚ and the possibility of death with great courage and peserverance. Many immigrants faced betrayal and were deceived by coyotes who took advantage of them and only cared about their personal profits. This ideology is evidently integrated in several parts of The Devils Highway. "Don Moi could sense their reservations...But he’d
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evident and required. The need for “Business Ethics” has taken on several different disciplines within the marketplace in light of many corporate dealings that have left the public stranded in the wake of crumbled corporations due to unlawful and unethical behaviors. The struggles by corporations come with notion of perform or be classified by the marketplace as a “poor performer”. In reviewing ethical behavior in business is become very clear on how the balance of ethical behavior in business can be very
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ENRON Enron shocked the world from being “America’s most innovative company” to America ’s biggest corporate bankruptcy at its time. At its peak‚ Enron was America ’s seventh largest corporation. Enron gave the illusion that it was a steady company with good revenue but that was not the case‚ a large part of Enron’s profits were made of paper. This was made possible by masterfully designed accounting and morally questionable acts by traders and executives. Deep debt and surfacing information about
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In The Devil’s Highway by Luis Alberto Urrea‚ the idea that the individual is influenced by the goals and the perspectives of achieving a better life. The media along with the people in power manipulate the goals and perspectives of the individual leading to misunderstandings and speedy conclusions. The Devil’s Highway is about 28 immigrants who attempted to cross the border but instead of finding the land of opportunity‚ they came across a deadly desert. Luis Alberto Urrea starts giving more context
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Failure In life‚ the journey is not only a tough one‚ but also constantly ‚meeting crossroad where one has to decide which direction to go. Some choose to go on blindly by taking chances‚ some take calculated risk‚ and some stand lost unable to decide. Everyone desire sucess‚ working round the clock; toil in blood‚ sweat and tears; put one’s shoulder to the wheel; on one’s fear for the whole day; and the expressions can go on and on. The trouble is‚ when one’s journey comes
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The definition of failure is “an act or instance of failing or proving unsuccessful; lack of success”. Failure is something people never intend to do but end up doing because they don’t work hard enough for what they desire. When people fail at something they have two options: quit what they’re doing and give up‚ or work even harder so they can reach success. Everyone in life will fail at some point. People cannot let one failure stop them from reaching their goals. When a person fails they should
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The Devil’s Highway Alberto Urrea is suggesting that neither of the governments are putting enough effort to change border policy‚ American more so than Mexican. Also‚ he is trying to explain how status quo might be viewed as beneficial for both sides to some extend. However‚ by changing the border policy‚ Urrea thinks that it would solve more than just border issues. It would improve economy of both countries‚ American in specific. Alberto Urrea is guiding us trough the tragic story of 26
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1 Auditing issues in Enron case Independent Needed for the Houston office of Andersen‚ an audit partner that understands the role of being a "public watchdog" with "ultimate allegiance to the creditors and shareholders" . Arthur Anderson abandoned its roles as independent auditor by turning a blind eye to improper accounting‚ including the failure to consolidate‚ failure of Enron to make $51million in proposed adjustments in 1997‚ and failure to adequately disclose the nature of transactions with
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Enron: The Smartest Guys in the Room Enron Corporation was an energy‚ commodities‚ and service company out of Houston‚ Texas founded by Kenneth Lay in 1985. Lay built natural gas power energy in East Texas which helped Enron’s stock rise. Louis Borget‚ Andrew Fastow‚ and Jeffery Skilling were the top management executives from 1985 until 2001. Each helped to bring about the demise of the company in multiple ways. One of the first scandals in Enron involved President Louis Borget and two traders
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