of Enron were the large number of highly complex accounting entries. For example energy traders were required to book all the projected profits from a supply contract in the quarter in which the deal is made. Such accounting procedures are inherently risky as they make assumptions about price forecasts which can drastically affect earnings. Another inherent risk factor is the frequency of related party transactions. The special purpose entities Enron was trading with were created by Enron and
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Effects of the Enron Scandal (Kassie) The Enron scandal had a great effect on the United States‚ with an impact on individuals from the consumer level to those running the company as well as the stock market and investors. Throughout the scandal‚ 4‚500 employees lost their jobs and investors lost approximately $60 billion dollars within a few days. The loss of such a large sum of money meant the loss of old-age and retirement security for many of the investors who put their money and faith in the
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Case Study: Slavery in the Chocolate Industry This case is about the slavery of young men in the Chocolate industry. Chocolate is made from the highly prized top quality cocoa beans that are grown on farms in West Africa‚ especially the Ivory Coast and Ghana‚ which make up close to half of the world’s chocolate. Slavery in the chocolate industry raises many issues including systematic‚ corporate and individual ethical issue. Here I’m going to discuss the issue I observed in this case
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Arthur Anderson & Co. was also to blame as they were the accountants for Enron. They were the ones with the expertise who should have known better and looked to fully explain and disclose what they knew. Anderson’s commitment is to the shareholders‚ not to their client and they needed to act in a way and present the statements fairly so that a user could make an informed decision and that the statements presented fairly. Enron is also to blame. They were focused on profits – which is not necessarily
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| |BSBMKG301A |Research the market | |BSBMKG302A |Identify marketing opportunities | OHT 1.2 DEFINITIONS |Selling |If your company creates a product or service‚ and then tries to persuade customers to buy it‚ that | |
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Enron The affect of the unethical behavior of the profitability of Enron was that the third party “outside” independent auditors was not able to backup and have accounting financial statements‚ some of those auditors and financial institutions may have been misled by the corporation’s net income. If I was an accountant for this company I would have followed regulated federal security laws‚ and if failed to provide prove of documents or financial statements‚ I would admit to my mistakes but also
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CASE 4-1: Bessrawl Corporation Reconciliation of net income from U.S. GAAP to IFRS 2011 Net Income according to U.S. GAAP attributable to equity holders of Bessrawl Corporation ………… $1‚000‚000.00 IFRS adjustments: Add: Reversal of inventory cost written down to replacement cost….. 10‚000.00 Less: Additional depreciation of building after 2011 revaluation……..
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(32156) Sonal Bhat (32157) Bhavika Mehta (32227) Esheet Modi (32228) Mahim Mongia (32229) Jyoti Saxena (32241) Contents 1. Executive Summary 2. Analysis Approach 3. Competency Model for Tourism Agents 4. Field Research: Onsite Mystery Shopping 5. Problems: People and Processes 6. Solutions and Evaluation of Alternatives 7. Recommendations 8. Conclusion Executive Summary Customized Tours form an important part of the services offered by leading travel companies. Though the level of expertise in the
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Multi-agency Working The aim of the essay is to show an understanding of the value of effective multi-agency working in supporting children and families. It is mentioned in the department of education (2012) that multi – agency working is a way of bringing together practioners from different professions to give additional support to children and family who need it. Because children and their family needs can be very different it is ensured that right professionals are involved in the service provided
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in the moment previous. However‚ the definition is clearly inadequate due to the fundamental flaws of determinism and its failure to account for deliberation or personal choice. A superior alternative is offered by what Taylor calls the theory of agency‚ but is more commonly known as libertarianism. In discussing a theory one must start with some data in order to prove the validity of the theory‚ and in discussing determinism this is no different. Two suitable criteria dealing with the decision
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