ENRON The Enron scandal was a financial scandal that was revealed in late 2001. After a series of discoveries involving irregular accounting procedures which could be turned in as fraud‚ went on throughout the 1990s‚ involving Enron and its accounting firm Arthur Andersen. Enron stood at the verge of falling into the largest bankruptcy in history by mid-November 2001. An attempt by a smaller energy company‚ Dynegy‚ was not feasible. Enron filed for bankruptcy on December 2‚ 2001. As the scandal
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Angelica Winton Business 100 02/17/13 Enron: One of the Largest Scandals of the Twentieth Century Would you defraud millions of people and steal billions of dollars from them? The very idea likely makes your skin crawl. And yet‚ that is exactly what Enron‚ a massive power company did for many years. We shall see how their insatiable greed and lust for power was the cause of their downfall and ultimate ruin. Enron prided themselves on being ’’the smartest guys in the room.’’ The company
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The Enron Case Questions: 1. Do you believe that there has been a significant shift or evolution over the past several decades in the concept of “professionalism” as it related to the public accounting profession? If so‚ explain how you believe that the concept has changed or evolved over that time frame and identify the key factors responsible for any apparent changes. a. Do you believe that there has been a significant shift or evaluation over the past several decades in the concept
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Case Study: Enron Corporation Accounting Scandal 1. What is Enron Scandal? Formed in 1985 from a merger of Houston Natural Gas and Internorth‚ Enron Corp. was the first nationwide natural gas pipeline network. Over time‚ the firm’s business focus shifted from the regulated transportation of natural gas to unregulated energy trading markets. The guiding principle seems to have been that there was more money to be made in buying and selling financial contracts linked to the value of energy
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Kohlberg’s Moral Stages Theory An indepth explaination Josh Gallo March 24‚ 2015 Crim. 101-f Dr. Kenneth Minton How exactly do children develop morality? This question has fascinated parents‚ educators‚ religious leaders‚ and philosophers alike for decades. Does society and our surroundings dictate our moral development or do parental influences assume the majority role in which the way we develop our morality? Psychologist Lawrence Kohlberg is looked at as one of the staple theorists who developed
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have many theories on education. One of those theorists is Lawrence Kohlberg and his theory on moral development. Lawrence Kohlberg was a very well known developmental psychologist. He modified and expanded on the moral development theory of Jean Piaget. His theory was one of the most well known theories in moral development and education. Moral development is one topic that is a major interest in both education and psychology. Lawrence Kohlberg was a theorist that is known for his theory‚ its relevance
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Through extensive studies on moral development Lawrence Kohlberg was able to identified and define three different levels of moral development. Within these three levels he then also subdivides them into two different subcategories. (DeGeorge‚ 22) Level one is the Preconventional level which is broken down into two stages obedience and punishment and the second stage is individualism. Level two is the Conventional level. In this level the stages are interpersonal relationships and maintaining social
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Lawrence Kohlberg Lawrence Kohlberg was born in New York on October 25‚ 1927. Kohlberg went to the prestigious Phillips Academy in Massachusetts before enlisting in the Merchant Marines during World War II. When he left the military‚ Kohlberg enrolled in the University of Chicago and a few years later‚ he received his Ph.D. in psychology. He spent several years at Yale as a teacher before returning to the University of Chicago to accept a position on staff. In 1967‚ Kohlberg left Chicago to go to
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How could the ENRON scandal been avoided? The Enron scandal could have been avoided had they had an organizational culture of honesty‚ integrity and ethics 1. There should have been stronger management and better ethical oversight. Even employees should have had a sense of the expected ethical values and try to maintain a strong sense of organizational culture. 2. There should have been measures in place to oversee the activities of accounting firms (Arthur Andersen)‚ as they acted as both Enron’s
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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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