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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compare contrasting ethical principles and theories and the legal issues surrounding this topic. The ethical principles outlined will be; autonomy‚ non-maleficence‚ benevolence and utility. Furthermore the ethical theories supporting these principles that will also be outlined are; utilitarianism‚ deontology (both Ross and Kant’s version)‚ Rawls’s theory of justice‚ natural law ethics‚ virtue ethics and care ethics (Schwartz‚ Preece and Hendry‚ 2002). Utilitarianism An ethical theory which falls into
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The exemplar that shall be discussed and analysed would be the empowerment exemplar. In order to analyse the ethical decisions made‚ it is important to assess the patient holistically. It is important to assess the impact that the symptoms may have on the patient’s quality of life. For instance‚ would amputating her leg immobilise her? Physically‚ if the patient is to remain not amputated would that increase the risk of infection or would the ulcers worsen? The risk factors should also be assessed
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Ethical Theory Summary This is an outline and summary of three of the most prominent ethical theories in the history of philosophy. (Note that all three of these represent different ethical absolutist/universalist theories. A view known as ethical relativism follows these.) Please take this as a sketch that invites you to investigate these ethical theories further. After each brief sketch‚ I will provide some web links that will be helpful to read. Virtue Ethics (especially Aristotle)
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Ayusarita Satriani 311368 – IUP BUSINESS UGM Financial Management ENRON Resources: http://en.wikipedia.org/wiki/Enron_scandal ; http://news.bbc.co.uk/2/hi/business/1780075.stm; http://finance.laws.com/enron-scandal-summary Enron is an energy company that successfully grew from nowhere to be America’s seventh largest company‚ which has 21‚000 staff in more than 40 countries in 15 years. It was one of the world’s leading electricity‚ natural gas‚ communications‚ and pulp and paper companies
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Applying an Ethical Theory PHI 208 Jon Stern July 24‚ 2014 Deontology is defined as “the focus on the duties and obligations one has in carrying out actions rather than on the consequences of those actions.” (Mosser‚ 2013). It may actually be harder than it seems to carry out this theory depending on the situation. One situation in particular is euthanasia or assisting someone who chooses to end their life. In this paper‚ I will apply the deontological theory to the issue of euthanasia and discuss
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present some clear ethical issues. First‚ looking at Aristotle’s principle of “virtue ethics‚” it must be determined whether the actions made by J.C. Penny are just‚ or fair‚ to their customers. Clearly‚ it is unfair for a company to deceive their customers into believing they received better deals then they actually did‚ and based on that analysis‚ Aristotle would have most definitely concluded the behavior of J.C. Penny to be unethical. Further‚ considering Immanuel Kant’s theory of the “categorical
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Comparing Ethical Theories Joseph Spor ETH/316 May 28‚ 2012 Ralph Hutton Comparing Ethical Theories The philosophy of ethics has been studied and debated for many centuries. While there are varying definitions of ethics‚ many who study the topic would agree that ethics can be described two ways. First‚ ethics can be considered to be the standards of right and wrong that outline what a human being ought to and ought not to do. In other words‚ they are the standards that tell us to be honest and
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After hearing bits and pieces about the “Enron scandal” over the years‚ it was interesting to learn about what specifically happened to the global giant company and how it reached its demise in the early 2000s. It seems as though Enron’s downfall had largely to do with the corporate culture instilled within the company from its inception in 1984. The idea of “get big fast” encouraged employees to do whatever they deemed necessary to drive earnings‚ even if it meant leaving ethics at the door. The
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Modern Ethical Theories Psychological Egoism vs. Ethical Egoism When we discuss modern ethics there are two theories that emerge above all others and although both are supported they are often controversial in nature. Ethical Egoism states that we should put ourselves and our interests before those of others leading to the conclusion that if we do things that are only in our own self interest then we have achieved morality. Psychological Egoism presumes that we always put ourselves and our interests
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