ENRON: A FINANCIAL REPORTING FAILURE? Anthony H. Catanach Jr.1 Associate Professor 610-519-4825 anthony.catanach@villanova.edu and Shelley Rhoades-Catanach Associate Professor Both at Villanova University College of Commerce and Finance Department of Accountancy INTRODUCTION The dramatic collapse of Enron Corporation‚ following a series of disclosures of accounting improprieties‚ has led many to question the soundness of current accounting and financial reporting standards. Within Enron’s reported
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Theoretical Approach Pecking Order theory The pecking order theory is a financial management theory that was developed by Donaldson in 1961‚ and was modified by Stewart and Nicolas Majuluf in 1984 (M.Z Frank and V.K Goyal‚ 2003). I chose this theory because it is one of the most important theories in financial management‚ it applicable in my study because it shows how important financial management skills and decisions are in ensuring sustainability and profitability of a business. A business
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But stress is not the only factor. there are more factors that can drop student’s performance. Those factors will be presented below. 1. Health Health is one important factor to be considered. No doubt that student’s health should be kept well in order to maintain performance. Breakfast is important and should not be skipped. It acts as student’s main energy to keep him/her well until lunch. Besides breakfast‚ sports and nutrition must be well-balanced. 2. Stress As told from above‚ stress can
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For this essay I have chosen to analyze a popular and time tested television show‚ Law and Order. I chose Law and Order for several reasons‚ the most obvious of which was that assumedly it would be a breeding ground for soft toned racial discrepancies. Also‚ I saw a show revolving around conflict a more entertaining choice for analysis‚ as it would provide for a hopeful plethora of material to critique. In theory I hoped Law and Order would be a suitable source for an argument that television and
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law. What followed this act was a series of almost disaster’s effects. Prohibition was a major failure in the U.S. It was made to ensure temperance and decrease alcohol abuse. When in reality it exacerbated the problem. After Prohibition more people abused alcohol as illegal than when it was legal. It was also the cause of a major crime increase in the states. Intern‚ Prohibition was not only a failure‚ but a possible cause of America’s demise. Luckily‚ it was repealed. Economically‚ America started
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Galbreath Writing 12-18-11 Interpretive essays Order vs. Chaos The hallways during a switching period in our school are crazy! Teachers try to put order in the hallways and try to keep them safe‚ while students are wild and create chaos in the hallways. The hallways in my school are chaotic but have order. Likewise‚ Gotham city also has order and chaos. In Gotham city‚ the Joker creates chaos‚ while batman tries to put order in Gotham City. The camera
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been done‚ and repairs had to be made. This repairing process was dubbed “Reconstruction‚” and it managed to last for 12 years along with having attained a diverse amount of political opinions regarding the concept. Overall‚ Reconstruction was a failure because of the South’s lack of obedience towards the North’s plan and the North giving up on the process too soon‚ when the correct time to stop would be years after the South was feeling they were being accepted back in the Union. One of the main
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September 26‚ 2013 Exploratory Essay Human trafficking and mail order brides are big phenomenons in the world that people don’t really think about. People suffer from abuse‚ physically and mentally‚ being forced to do service that they do not want to do and by being oblivious to the people that they will encounter. Human trafficking is a form of slavery‚ known as “modern day slavery.” Trafficking consists of labor‚ domestic‚ and sexual work. There are approximately 2.4 million victims of human
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is to portray and evaluate the main management failures that led to the collapse of ABC Learning Centres Ltd (ABC) under the management of Eddy Groves. Therefore it is to be looked at the following areas: internal and external environment‚ managerial ethics and corporate social responsibility. Further more it will be shown some examples of managers who had been successful by avoiding the mistakes Eddy Groves made and at some similar management failures within other companies. Eddy Groves founded
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WEEK 3 Discussion Question 1: Just Following Orders? Do you believe the sentence she received is just? Wasn’t she simply following orders? Why did Ms. Vinson make the ethical decisions that she made? In my opinion‚ from the two articles read I do not believe that the sentence of 5 months in prison that Ms Vinson received coincided with her level of involvement. Ms Vinson was the Senior of Corporate Reporting Department; for two years she chooses to continue to misrepresent and inflate
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