commitment with Barclay Bank because outside investors were not found. Because of this‚ they restated activities of JEDI and Chewco SPEs so they could be retroactively consolidated into Enron’s accounts. The SPEs helped to hide the inaccurate accounting records. Enron’s legal department wrote contracts that helped provide a cover for misuse of funds regarding the SPEs. Future revenue was reported as current revenue. Stocks were paid with promissory notes instead of cash. They also engaged in off-the-books
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unregulated. As Enron’s business model became more complex‚ it began to push the limits of accounting. The two main financial reporting issues that Enron faced consisted of mark-to-market accounting‚ and financial reporting for special-purpose entities (SPEs) that Enron used to implement its light asset strategy and to hedge investment gains. By 2000‚ Enron has hundreds of these
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monitor the auditor’s independence and effectiveness. True and fair view With regard to issues arising from SPE‚ Raptors were not hedges in the economic sense of transferring risk to a third party‚ but rather a means of absorbing losses with a reserve of Enron shares contributed by the hedging entity. However‚ Anderson approved Enron not to consolidate Raptor because Raptor is defined as SPE that means Andersen had seriously breached the true and fair criterion. Enron avoid to put pressures on balance
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SPE 167543 Wellbore Stability Management In Depleted And Low Pressure Reservoirs Fekete Paul O.‚ Dosunmu Adewale‚ Anthony Kuerunwa‚ Ekeinde Evelyn B.‚ Anyanwu Chimaroke‚ and Odagme Baridor S.‚ Dept. of Petroleum and Gas Engineering‚ University of Port Harcourt‚ Nigeria Copyright 2013‚ Society of Petroleum Engineers This paper was prepared for presentation at the Nigeria Annual International Conference and Exhibition held in Lagos‚ Nigeria‚ 30 July–1 August 2013. This paper was selected for presentation
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is credible sources are believable sources written by a trustworthy author that can be supported by evidence. Non credible sources are opinionated sources whereas the author may not be reliable and the information may be outdated. Credible Source: GCU Library Non-Credible Source: Facebook or Blogs 2. Where does the thesis statement belong within an essay? A thesis statement usually appears near the end of the introductory paragraph of a essay or research paper. 3. What is a thesis statement
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Service Activity Write-Up 1. The program specific learning opportunity that I attended was the CONHCP Health Care Professional Panel. Although it was advertised that athletic trainers‚ health care administration professionals‚ and nursing professionals would speak at the event‚ only nursing experts were present. If there were more healthcare professionals available‚ information relating to the medical field would be more variated. Regardless of the limited number of experts‚ the nursing experts strived
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Enron Corporation began as a small natural gas distributor and‚ over the course of 15 years‚ grew to become the seventh largest company in the United States. Soon after the federal deregulation of natural gas pipelines in 1985‚ Enron was born by the merging of Houston Natural Gas and InterNorth‚ a Nebraska pipeline company. Initially‚ Enron was merely involved in the distribution of gas‚ but it later became a market maker in facilitating the buying and selling of futures of natural gas‚ electricity
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SPE-226 Educating the Exceptional Learner August 30‚ 2014 Perceptions and attitudes towards students with disabilities have changed tremendously in recent years. Organizations and laws have also made education and everyday living a more positive experience for students with disabilities and their families. This paper will discuss this further as well as the challenges faced by educators‚ as well as my own predictions that students with disabilities will be faced with in their future. Personal
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use the motivation to get my dream job in order to empower myself to complete my tasks. Quite often this motivation is the way that I can overcome the struggles in life since I am reminded of the results that will come the day that I graduate from GCU such as higher wages and being closer to fulfilling my
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obscure its true financial position? This paper attempts to answer these questions by examining the two financial reporting issues that contributed to Enron’s most significant accounting restatements: the consolidation of special purpose entities (SPEs) and the issuance of stock for notes receivable. 1 The authors gratefully acknowledge the financial support and resources provided by Villanova University’s College of Commerce and Finance. The authors also thank Noah Barsky for comments and
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