1. What did Arthur Andersen contribute to the Enron disaster? Arthur Andersen (AA) contributed to the Enron disaster when AA consulting became its own separate entity‚ named Accenture. Revenues from consulting services surpassed revenue from auditing services. A natural competitiveness grew between the two rivals and this is where the problems began to start. Management held maximinizing revenues as their primary focus of success and promotions/bonuses were based on this factor. The CEO of AA‚ Joe
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1.What are the main reasons that Enron collapsed? I think the reasons for the collapse are three fold. Firstly Enron’s accounting practices(mark to market accounting- companies estimate how much revenue a deal is going to bring in and state that number in their earnings the moment the contract is signed) Its managements goal was to maintain the appearance of value by always having rising stock prices rather than focus on creating real value for the company. Secondly its reliance on Special
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Current issue: Scandals in auditing Enron Scandal 1. Introduction Accounting scandals are political or business scandals which arise with the disclosure of financial misdeeds by trusted executives of corporations or governments. These days‚ not too often‚ these scandals are splashed as headlines across media. Why? Because there are complex groups of stakeholders who might be seriously affected by the scandals. Enron scam was the most remarkable scandal in 20 centuries by their institutionalized
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Franc Cedrick Madriaga Reaction Paper #10 TZ 11:00 A.M. Euthanasia refers to the practice of intentionally ending a life in order to relieve pain and suffering. It is a deliberate act intended to cause the death of a patient‚ at that patient’s request‚ for what he or she sees as being in his or her best interest. Because a request for euthanasia is necessarily at the request of a patient‚ a request for euthanasia is a right that all individuals should enjoy. In Australia‚ as in many other parts
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Enron: The Smartest Guys in the Room A white-collar crime by definition is a crime that is committed by individuals of higher status. It is not necessarily a violent crime‚ but could be depending on the situation. An individual who works in a professional environment‚ such as the government or corporation tend to take advantage of employees and manipulate them into thinking their practices are legitimate. Some examples‚ of white-collar crimes include fraud‚ embezzlement‚ insider trading‚ and other
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REACTION PAPER (Always- Sunset in Third District) It all started with a quite bit of confusion. I thought the film was about the history of Japan or whatever but then as we arrived in the cinema and start watching the movie I got curious why it was like a comedy and a little bit drama kind of movie. The movie was set back on 1958 at the time of the construction of the Tokyo Tower so the screen’s color was brownish (Classic) and the actors and actresses’ dress were classic too. There are two
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The ultimate demise of Levi Jeans Company came long before the announcement was made on the closing of eleven of its US factories‚ ending the jobs of over 6‚000 employees--many of which had been long term. Although many manufacturing type businesses are notorious for their "slave labor wages" and less than reputable working conditions‚ Levi ’s Strauss broke the mold by maintaining its character of always treating its workforce fair and employees as valued. The company was ranked in many polls and
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Though the Athenian’s ambition to give the power of government back to the people was a noble endeavor‚ flaws in their system allowed for larger cracks to which sowed the seeds of its later undoing. The Democracy of Athens partly existed based on the toil and sweat of slaves allowing for their owners to have the time to participate in government (Brand‚ n.d‚ p.29). Furthermore‚ Athens empire building via the Delian League provided for whole populations paying into the Athenian system‚ providing wealth
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1) Li Shimin and the succeeding rulers of the Tang Empire avoided over centralization by allowing the local nobles‚ gentry‚ officials‚ and religious establishments to practice significant power even after retaining many Sui governing practices. 2) The bled of Turkic and traditional Chinese culture that existed under the Tang were scriptures used in the Silk Road‚ weapons such as the crossbow and armored infantrymen which were used in warfare‚ and the skill in horsemanship as well as the use of iron
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Enron was a company in the energy industry founded in 1985 by Kenneth Lay. Enron was based in Huston‚ Texas and employed approximately 20‚000 people. In 2001‚ Enron filed for bankruptcy after many years of lying‚ fraud‚ and dishonesty with their financial books. Enron was pretending to be a huge‚ successful company when in reality‚ it was in a financial hole so deep there was no way of getting out. Discuss and analyze the culture at Enron. In what way was it effective? In what ways was it the catalyst
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