UNIVERSITI MALAYSIA PERLIS SCHOOL OF BUSINESS INNOVATION & TECHNOPRENEURSHIP BFT 503 businesss ethics & csr NAME : NUR AINUL MARDHIAH BINTI MD. ZULKIPLI MATRIC NO : 1333430136 Dr. Abdullah bin osman Enron : Questionable Accounting Leads To Collapse History ENRON CORPORATION. Enron‚ a corporation headquartered in Houston‚ operated one of the largest natural gas transmission networks in North America‚ totaling over 36‚000 miles‚ in addition to being the largest
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Marchelle Smith SPE-350 Special Education Litigation and Law September 23‚ 2013 Angel Barkel Least Restrictive Environment Interview Lynne Smoak is the coordinator for our district in the special education department. She has been with our district for over 25 years in special education. She became the coordinator in 1994 and she feels that all our students should feel that they are important and that their education is important. Lynn graduated from Salisbury University with a Masters in
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George Zimbardo—psychologist and professor at Stanford University conducted prison experiment to test the effect of situations. In contrast with prediction as lengthy and boring‚ the experiment’s result shocked the world. The Stanford Prison Experiment (SPE) has indicated the significant power of roles‚ or situations‚ on human behaviors; thus‚ brings about many influences on society. According to Zimbardo in “ Obedience to Authority‚” he asked the students during the spring term to reverse role and
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Content 1. Introduction page 3 2. Assumption page 3 3. Estimation page 3 4. Accounting data Number of planes page 4 Ticket revenue page 4 Operating Cost page 5 Deprecation page 5 Operating cash flows page 5 NPV
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GAAP / IFRS Fiat Group’s first-time adoption of IFRS Differences Between Key Accounting Methods Under Italian GAAP And IFRS What characterizes the differences between the two sets of methods? - Substance over form Example: Recognition of revenue - Less flexibility Example: Recognition of R&D cost - More transparent Main factors that affect management’s reporting incentives and strategy in fiscal year 2005 - Research & Development: Because Fiat main operations are based on the manufacturing
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How did the corporate culture of Enron contribute to its Bankruptcy? Once a sound company listed in fortune 500‚ Enron‚ lead to downfall because of deceptive accounting system incorporated within the organization. Enron’s dubicious finance finally collapsed in Dec 2‚ 2001 as it filed Bankruptcy in New York Bankruptcy court. The corporate culture of Enron focused on financial performance neglecting the stakeholder’s value .The relentless emphasis on the importance of the shareholder’s value created
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ABONG Rose AKENJI 13200149 Question 1 Is the Enterprise a VIE as defined in the Codification Master Glossary? If so‚ what criteria cause it to be deemed a VIE? Assume that (1) the Enterprise does not qualify for any scope exceptions and (2) the equity investment by the Nominee Shareholders in the Enterprise represents equity investment at risk. The enterprise is a VIE as defined in the codification of the master glossary. From the narrative‚ nominee equity holders do not absorb the losses of the
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It was the biggest bankruptcy in US history and cost 4‚000 employees their jobs. 1.1 The Reasons for Scandal Top Level Management & Board of Directors – Enron Bent the Accounting rules to satisfy their own desires to earn short term profit SPE Laws Accounting Laws The Immoral and unethical actions taken to achieve personal profits Violated Top Level Management & Board of Directors –
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exercise prudent judgment‚ failed to challenge management when necessary‚ and‚ as a result‚ failed to adequately protect the interests of the shareholders. 9. Identify the conflict of interest in: SPE activities‚ Arthur Andersen’s activities‚ and Executive activities. The conflict with the SPE was that Enron was keeping their losses off of the end of year reports to offset other dealings that were not profitable. If true numbers had been reported losses would have been seen and not covered
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Fair value in financial reporting: problems and pitfalls in practice – a case study analysis of the use of fair valuation at Enron David Gwilliam∗ and Richard H G Jackson School of Business and Economics‚ University of Exeter‚ Streatham Court‚ Rennes Drive‚ Exeter EX4 4PU‚ UK This paper has been accepted for publication in Accounting Forum ____________________________________________________________ ____________ Abstract This paper contributes to the debate on the use of mark to market
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