Temuujin Enkhbold Enron Fraud Once the seventh largest company in America‚ Enron was formed in 1985 when InterNorth acquired Houston Natural Gas. The company branched into many non-energy-related fields over the next several years‚ including such areas as Internet bandwidth‚ risk management‚ and weather derivatives (a type of weather insurance for seasonal businesses). The Enron fraud case is extremely complex. Some say Enron’s demise is rooted in the fact that in 1992‚ Jeff Skilling‚ then president
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2002). The Scandal WorldCom scandal was one of the biggest accounting scandals of American corporate history. WorldCom was a U.S based telecommunication company. The WorldCom accounting scandal was disclosed in 2002. The Company had resorted to fraudulent accounting practices for five quarters (four quarters of 2001 and the first quarter of 2002) (The WorldCom Accounting Scandal‚ 2002). The well-known telecommunication company WorldCom and the accounting‚ auditing and consultancy enterprise were
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............................................................. 3 Understatement of Expenses and Liabilities ........................................................................... 3 Reasons of Preparing Fraudulent Financial Statements ..................... 6 Concluding Remarks ........................................................................................ 8 References ..............................................
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Introduction In 1952‚ John Rigas founded Adelphia Communications Corporation with a $300 license‚ took the company public in 1986‚ and built it up by acquiring other systems in the 1990s. In March 2002 Founder‚ chairman‚ and CEO of Adelphia Communications Corporation 78 year old John Rigas‚ his two sons‚ and other Adelphia executives were arrested and charged with looting the nation’s sixth largest cable company on a massive scale. Adelphia Communication Corporation whose revenue exceeded $2.9 billion
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Introduction To AuditING and Window Dressing INDEX Sr.no | Topic | 1. | Introduction | 2. | Origin ‚ Definition | 3. | Objectives | 4. | Principles | 5. | Errors and Frauds | 6. | Window Dressing | 7. | Case Study | 8. | Conclusion | OBJECTIVES OF AUDITING The main object of the audit is to find out whether the accounts of a particular concern show a true and fair view of the earnings and financial state of affairs.This is possible
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2010 Business Law Revision Booklet The Business Law final exam is 3 hours with 10 minutes of reading time. HOW TO ANSWER CASE STUDY QUESTIONS When answering this question student’s need to follow the format of: i) state the issue ii) state the law-this includes relevant legislation and cases iii) apply the law to the facts iv) state the conclusion Key words used in questions: Explain – students need to provide
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CONTRACT LAW- EXAM NOTES What is a contract? An oral or written agreement between two or more parties which is enforceable by law. This agreement ‘will be legally binding if certain criteria are met – briefly‚ they require that there be an agreement (comprising an offer and acceptance)‚ consideration‚ intention to create legal relations‚ compliance with any formalities required by law and that the parties have the legal capacity to contract’1 What is the purpose of contract law
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designed to restore and maintain investor confidence in capital markets by providing structure and government oversight. Securities laws and regulations were established to deter fraud and misrepresentation in connection with the offer and sale of securities. This program is directed at detecting and sanctioning fraudulent activity in the securities markets‚ including fraud by brokers‚ dealers‚ investment advisers and investment companies‚ financial fraud by issuers of securities‚ fraud in securities offerings
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Freedom of Speech vs. Censorship Adopted in 1791‚ the First Amendment‚ states “Congress shall make no law abridging the freedom of speech‚ or of the press or the right of the people peaceably to assemble‚ and to petition the Government for a redress of grievances.” (Pilon) The freedom of speech documented in the First Amendment is not only a constitutional protection but also an inevitable part of democratic government and independence‚ which are essential values in society. “Censorship‚” according
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Psychology 2AP3: Abnormal Psychology - Major Disorders Course Outline‚ Jan. - April 2013 Time: Tues.‚ Thurs.‚ Fri.‚ 2:30 - 3:20 pm Classroom: MDCL-1305 Instructor: Dick Day Office: Psych Bldg Room 404 Phone: 525-9140 ext. 23006 Email:dayrich@mcmaster.ca Web site: http://intropsych.mcmaster.ca/psych2ap3 and on Avenue to Learn Course Objectives This course discusses the issues and controversies surrounding the meaning and categorization of psychological abnormality. We will also describe
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