Business Ethics Enron Case 1. Using the options market more for gambling purposes to cover loss rather than insurance. The culture was if one of their employees was making a lot of money they didn’t ask questions they didn’t look too deep into where the money was going they eventually gave these people more money to spend and use‚ what they realized later on was that that employee wasn’t very good. They were just lucky one time. They made some losses and had to get that loss back so they put
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The Fall of the Western Roman Empire The Roman Empire was known as one of the greatest empires in history. As Rome grew‚ they started to fall apart and eventually would fall completely. Rome’s political‚ economical‚ disease‚ and foreign invader problems took great parts in the fall of the Western Roman Empire. These four issues were best known to cause Rome’s demise. There were many reasons for the Roman Empire fall. Political problems were one of the reasons. Some of the political problems were
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The Spanish conquistadors had fierce battle tactics‚ but what about the Incas? Large numbers‚ battle tactics‚ and a strong empire were all characteristic to this civilization. How is it possible for the Incan empire to fall? The Incan Empire was torn apart by the Spanish‚ due to the geographic luck of the Spanish which resulted in being the first to acquire guns‚ germs and steel. The invisible weapon the Incas faced was diseases. A Spanish ship had a slave onboard who suffered from smallpox‚ who
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wife and children‚ was a company created in 1998 by Enron ’s CFO‚ Andrew Fastow‚ to buy Enron ’s poorly performing stocks and stakes and bolster Enron ’s financial statements. Fastow proposed in October 1999 to Enron ’s finance Board the creation of LJM2 Co-Investment L.P. Fastow would act as general director of a much larger private equity fund that would be funded with $200 million of institutional funds. The question of Fastow’s dual role as Enron ’s CFO and LJM2 ’s general director was not viewed
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motorcycle club defined what it means to be in a biker gang. The massive growth of the Angels led them towards great popularity. Even though there is good that can come from this radical groups‚ the bad actions set a standard for them and could lead them to fall. The Angels came from a good purpose. Initially began in Fontana‚ California‚ Otto Friedli was having disputes with an old gang‚ Pissed Off Bastards‚ that led to the huge growth of the Hells Angels Motorcycle Club. World War II came to an end three
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fourth of October in 1957‚ at approximately 2:29 pm‚ the Soviet Union did something unheard of. They launched the first artificial Earth satellite into a low-Earth orbit. This satellite was Sputnik‚ the Russian word for traveler. Although the Soviet Union launched this satellite‚ its impact on the United States was tremendous. For instance‚ the launch of the Russian Satellite‚ Sputnik‚ lead to the creation of NASA. Contributing factors like the U.S.’s continuous strive to come out on top‚ and their desire
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The scientific revolution of the Renaissance had its start with Copernican heliocentrism and its culmination‚ a century later‚ with Newtonian mechanics. His most eminent representative‚ however‚ was the Italian scientist Galileo Galilei. In the field of physics‚ Galileo made the first laws of motion; in the astronomy department‚ he confirmed the Copernican theory with his telescopic observations. But none of these valuable contributions have had such significant consequences as the introduction of
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Under the common law‚ accountants may be found liable to the clients who hire them under several legal theories‚ including breach of contract‚ fraud‚ and negligence. Accountants owe a duty to use reasonable care‚ knowledge‚ skill‚ and judgment when providing auditing and other accounting services to a client. In other words‚ an accountant’s actions are measured against those of a “reasonable accountant” in similar circumstances. The development of GAAPs‚ GAASs‚ and other uniform accounting standards
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The term “all great things must come to an end” is commonly associated with the decline of empires‚ dynasties‚ and rulers. As mighty as they may have been‚ the Roman Republic was no exception to this concept. Beginning around 133 BCE the Roman Empire began experiencing a drastic decline internally. A series of servile wars plagued the empire roughly between 140 BCE and 70 BCE‚ which caused massive internal turmoil the empire had never experienced before. Three wars were fought in a seventy year
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ENRON Principles of Accounting Enron Key Players KENNETH LAY Former Enron chairman JEFFREY SKILLING Former Enron CEO DAVID DUNCAN Former Andersen partner NANCY TEMPLE Andersen lawyer THOMAS WHITE Secretary of the Army SHERRON WATKINS Enron vice president Enron started about 29 years ago in July 1985 in Houston‚ Texas.. A energy economist named Kenneth Lay became the CEO of Enron. Mr. Lay was a very optimistic
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