Enron and How it Affected the Accounting Industry Enron once was one the United States largest energy company and was ranked Fortune’s seventh richest corporation in the United States. When Enron had a filed for Chapter 11 bankruptcy in 2001 it unraveled to be one the biggest accounting scandals in United States history. There are many factors that contributed to Enron’s demise but their aggressive and unethical accounting practices were the key component. As a result‚ the accounting industry
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UTILITARIANISM AND DEONTOLOGY Action we take must have consequences whether good or bad. Utilitarianism is a theory that focuses on consequences that will bring about the best possible outcome of any situation‚ in terms of individuality or people‚ this means some sort of pleasure and happiness must be the result. On the other hand‚ deontology focus on the doing the right thing‚ were your intentions will be understood based on the right thing where everyone in your position would do the same‚ more
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Deontology focuses on the rightness or wrongness of actions themselves whereas utilitarian focuses on rightness or wrongness of the consequences of those actions. Utilitarianism is the idea that the action’s moral value is based on its degree of maximizing pleasure and happiness as a consequence of the action. Hence‚ greater happiness the more beneficial or morally right it is based on this theory. It is a form of consequentialism compared to deontology which only takes into account of the moral
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UVA-F-1299 Rev. Feb. 8‚ 2011 This document is authorized for use only by Mattia Tenaglia at Tecnologico de Monterrey. Please do not copy or redistribute. Contact permissions@dardenbusinesspublishing.com for questions or additional permissions. ENRON CORPORATION’S WEATHER DERIVATIVES (A) Everybody talks about the weather‚ but nobody does anything about it.1 In October 2000‚ Mary Watts‚ the chief financial officer of Pacific Northwest Electric (PNW)‚ a utility servicing the Pacific Northwest
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to lie is self-defeating and goes straight away from the categorical imperative. The categorical imperative is a moral law that all should follow without exception. This lead into the key idea of deontology‚ which is that human beings are the control source of moral value. The value theory of deontology is people because
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Enron: The Smartest Guys in the Room Importance of Accounting Accounting is important because it manages the checkbooks of company which are important to analyses and determine the success of the business by looking through the different account statements and translating the company documents. An accountant or accounting firm starts and maintains auditing of a company. Accounting is also important because it offers a great assistance in planning the future investments as well as being able
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Ethics are a complicated subject. Everyone has their own way of thinking of ethics. People are ethical in similar and different ways. Some people may think the same way on subjects‚ like for example that it is ethically wrong to test on animals‚ while others may disagree‚ even on the same topic. There is no clear‚ black and white‚ right or wrong way to look at ethics. One may think people have varying degrees of ethics‚ which is true‚ but not one person really is more ethical than another given the
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Deontology and the Categorical Imperative Applied to the Adelphia Communications Scandal In July of 2002‚ five officials of the Adelphia cable-television company were arrested on the charge of gross corporate fraud conducted by members of the Rigas family. The events which transpired during the Adelphia scandal were some of the most egregious to date with an estimated "$100 million‚ hiding more than $2 billion in debt the family incured‚ and lying to the public about Adelphia ’s operations and
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centuries. While both sides have their merits‚ I strongly believe the philosophy of Kant carries more weight in determining the morality of action. However‚ like any philosophical theory‚ deontology becomes flawed when pushed to extreme scenarios. In this essay I will argue for general affirmation of deontology‚ understanding that there are cases in which the logic becomes flawed. Furthermore‚ this essay will be from the perspective of a state actor rather than an individual‚ which is a very important
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Case 1.4 AMRE‚ Inc. 1. Generally‚ ethics refer to moral principles and values. Random House Webster’s College Dictionary notes that ethics are “the rules of conduct recognized in respect to a particular class of human actions or governing a particular group‚ culture‚ etc.” An individual ’s ethics generally define what that individual believes to be right and wrong. Professional ethics are typically expressed by a code of conduct adopted by an organization that represents a profession. Professions
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