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
Premium Audit Auditing Accountant
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……..
Premium Generally Accepted Accounting Principles Depreciation Balance sheet
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
Premium Business Audit Enron
Essay on the Planners:- The Planners‚ a poem written by Boey Kim Cheng in Singapore.Boey Kim Cheng demonstrates this heartless modernization in his poem by using a constant perfect strait almost unnatural description of everything. The soullessness of Singapore is also portrayed in this poem by its perpetual effort to neglect and erase the past or any history of it‚ creating a facade of culture. This city is so soulless and synthetic that it’s not even considered part of nature. Boey Kim Cheng starts
Premium Poetry Soul Mathematics
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
Premium Contract Derivative Insurance
An Eastern Europe Epidemic: Human Trafficking and its Victims With a market economy that is more open than ever before‚ both legitimate and illegitimate businesses across Europe are benefitting (Philips). Though the drug trade is often thought of as being the most prolific illegal trade‚ according to security experts‚ human trafficking has recently surpassed the drug trade as the largest illegal business in the world (BBC News). Thanks to economic recession‚ Eastern Europe is considered to
Premium Human trafficking Slavery Human
Pratt Truss Bridge The purpose of this experiment is to study several bridges and build a bridge similar to the one that gave the students the uppermost muse. The students had to research facts about Truss Bridges‚ including its beginnings during the late 1700’s. Early Truss Bridge builders were first to spread its name throughout the United States‚ but the name of Truss Bridges soon cultivated across the world. There were numerous reasons as to why the design of Truss Bridges grew so broad. Firstly
Premium United States Economics Marketing
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
Premium Enron Board of directors Corporation
…5 Causes of failure……………………………………………….………6 Replacement bridge…………………………………….........……….10 Conclusions…………………………………………………………...10 References...........................................................................................11 Abstract (143 words) The Tacoma Narrows bridge was a one of a kind bridge at its time. Starting from its size and ending with the structure of the bridge‚ It was considered to be an outstanding bridge at that time. It looked perfect and flawless as it started
Premium Suspension bridge Fluid dynamics Aerodynamics
Yasir Euceda English 111 December 4‚ 2012 Evaluative Film Essay Draft ’Training Day’ is a crime drama film directed by Antoine Fuqua. The film takes place in California in the streets and gang neighborhoods of South and East Los Angeles. The story of the film follows the life of a rookie LAPD officer‚ Jake Hoyt played‚ by Ethan Hawke and a veteran narcotics officer‚ Alonzo Harris played by Danzel Washington. The main characters of the film are officer Jake Hoyt and detective Alonso Harris. Both
Premium Gang Los Angeles Illegal drug trade