Case Study 9 Kim Chau California Southern University MKT 86519 Dec 19‚ 2014 N. Papazian Accounting for Enron Introduction In the case of Accounting for Enron‚ the case concerned one of the largest corporate bankruptcies in the US history at the turn of the 21st century. It was Enron Corporation‚ a one time seventh largest most successful US company‚ sixth largest energy company in the world‚ valued at over $70 Billion; they filed for chapter 11 on December 2‚ 2001. Just the year before‚ Enron
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Abstract It is well known that accounting a social science is evolving with the development of society and its progress and advancement‚ and as the community reacts to events and changes in various spheres of economic‚ political‚ environmental‚ re ligious‚ and with the global economic crisis‚ which still affect most sectors of the economy‚ all of these reasons with other of reasons‚ imposed on this social science that is evolving in terms of quality‚ style and methods applied in order
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Introduction‚ Review of Accounting Process and Financial Statements Abstract This paper explains different types of accounting phrases and how they directly affect the accounting field. Phrases which are included and defined in the paper are Generally Accepted Accounting Principles‚ Contra-Asset Accounts‚ Historical Cost‚ Accrual Basis vs. Cash Basis Accounting‚ and Accounting Standards Codification. Definitions and examples of these terms are included as well as explanations of how they are
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the most significant type of claim held by a company. Accounts receivable and notes receivable resulting from sales are also known as trade receivables. Accounts receivable resulting from sales are referred to as trade receivables in Alcatel’s financial statements. B. How do accounts receivable differ from notes receivable? Notes receivable represent claims for which formal instruments of credit are issued as evidence of debt. A credit instrument normally requires a debtor to pay interest
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MCQs in lecture from ch 2 1. Accounting theories should be A. Inductive B. Deductive C. Descriptive D. None of the given options is correct 2. Which of the following statements is true about accounting measurements such as profits and assets? A. They are subject to professional judgment B. They would not vary if prepared by different accountants‚ providing they were based on the same set of accounting standards C. They are based on hard‚ objective‚ evidence
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UNIVERSITY OF THE EAST College of Business Administration-Manila UESONs’ PRE-MIDTERM EXAM -FUNDAMENTALS OF ACCOUNTING 1&2- NAME: ___________________________ SECTION: ___________ CELL LEADER: ______________________ WS: ___ CG: ___ SS: ___ DIRECTION: Write your FINAL ANSWERS on the ANSWER SHEET provided. USE CAPITAL LETTERS. NO ERASURES! NO CHEATING! 1. | 26. | 51. | 76. | 2. | 27. | 52. | 77. | 3. | 28. | 53. | 78. | 4. | 29. | 54. | 79. | 5. | 30. | 55. |
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Accounting can be perfectly explained as a precision tool or language to provide appropriate information with regards to financial position of an organization‚ corporate or business. With this kind of data or information‚ it is always critical for investors as it provides them with relevant and thorough information that could turn out to be the deciding factor on whether to invest or not to invest in a particular business‚ corporate or organization. Therefore‚ nowadays it is very common to find
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2-40 Strategic positioning The emphasis in the case info on the product quality and craftsmanship‚ is the best described as differentiation on the quality of the product. In contrast‚ the company is more likely to succeed if it can continue to appeal to those customers looking for up-scale‚ higher quality table lamps and lighting fixtures. When using differentiation as the Company’s strategy‚ it becomes clear that maintaining the Classic line is critical to the company’s success. Thus‚ elimination
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IEB matric accounting project 1 ‚ internal control of a bakery Cassandra Porritt Grade 12G Accounting :Internal control report 1. There was always a camera survalence system as a control measure but Spar took this internal control and made it more effective by employing hearing impaired people rather than people with normal hearing abilities to monitor the tape for any
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My 7th grade at CMS was full of concepts learned‚ memorable experiences‚ and personal growth. When I evaluate my school year i think about friends. I think about the highs and lows. I also think about how i have grown. One of the concepts I learned this year was variables in Mrs. Pilato’s class. It was difficult at first but then i started to get the hang of it. Variables are numbers that represent a letter‚ used in math like a puzzle to be figured out. Another concept I learned this year was the
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