not see it”. 2. Regulatory Agencies‚ SEC and FASB Enron was able to hide their losses behind their SPEs or Special Purpose Entities by omitting an SPE’s assets and liabilities from its consolidated financial statements and both SEC and FASB failed to provide formal guidelines for companies to follow in SPEs accounting and reporting. As a result of the minimal legal and accounting guidelines for SPEs‚ Enron along with other companies was able to divert huge amounts of their liabilities and losses to
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just within secular society‚ but also within the Christian faiths. Pope John XXIII sought out to mend these conflicts both in Christianity and in society. Thus‚ he convoked a new council that he would later name‚ the Second Vatican Council. Gaudium et spes was issued at the closing of the council and addressed the problems currently dividing society; it stressed a need for a family structure with a primary concern for service‚ both within Christianity and among the entire human race. In 1945‚ after
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www.ccsenet.org/ijbm International Journal of Business and Management Vol. 5‚ No. 10; October 2010 The Case Analysis of the Scandal of Enron Yuhao Li Huntsman School of Business‚ Utah State University‚ Logan city‚ U.S.A E-mail: wyl_2001_ren@126.com‚ carolee1989@gmail.com Abstract The Enron scandal‚ revealed in October 2001‚ eventually led to the bankruptcy of the Enron Corporation‚ an American energy company based in Houston‚ Texas‚ and the dissolution of Arthur Andersen‚ which was one of the
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FIND A CAREER IN PETROPHYSICS | GREENPEACE’S AYLIFFE VS. FTI’S BLACKMON | GUIDE TO ABU DHABI The Magazine by and for Young Professionals in Oil and Gas VOL. 9 // ISSUE 2 // 2013 PUBLIC PERCEPTION OUR INDUSTRY An Official Publication of The Society of Petroleum Engineers • www.spe.org Contents 2 3 4 8 Americas Office Office hours: 0730–1700 CST (GMT–5) Monday–Friday 222 Palisades Creek Dr.‚ Richardson‚ TX 75080-2040 USA Tel: +1.972.952.9393 Fax: +1.972.952.9435 Email: spedal@spe
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Impact of Shared-Based Payments and Special Purpose Entities on Financial Statements and Audits Economies of scales have created consolidation of ventures between companies. As a result of mergers‚ shared-based payments and special purpose entities (SPEs) have become prevalent in business. In addition to strengthening competition of the combined companies‚ several goals are met such as tax reductions‚ growth and diversification‚ a larger financial base‚ and increase profits. Generally Accepted Accounting
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SPE 37131 A Review of Horizontal Drilling and Completion Techniques for Recovery of Coalbed Methane Samuel O. Osisanya‚ The University of Oklahoma‚ SPE and Robert F. Schaffitzel‚ Texaco Exploration and Production Inc.‚ SPE XW1- *- c#Polrdwm EngkOm‚lnc. Thb ~ua pmpuulfwpmnntdim atlhclSSS SPElnWmdlmul onbmnwM C HwizoIIW WtilTuhndogy holdInCalguy‚CMSOQ 1S-20NOWMOW 1SSS. CUmdm08 fdlowlng lhb~umuhcbdfwpm un tdion by MSPE~ mvicWOfinlOrnum onwntaln.dinanabdmct 8ubl?M0d bym0wm01@)
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| TUGAS MATA KULIAH: ANALISA LAPORAN KEUANGAN | Amazing Deals Auto Mart:Financial Reporting and Analysisof Receivables and Securitization | | Oleh: Tamlikho Wahyu Sudaryanto Abraham Indra Firman Putra MAGISTER AKUNTANSI UNIVERSITAS TRISAKTI 2011 ISSUES IN ACCOUNTING EDUCATION Vol. 24‚ No. 1 February 2009 pp. 77-91 Amazing Deals Auto Mart: Financial Reporting and Analysis of Receivables and Securitization Mahendra R. Gujarathi and Ralph J. McQuade ABSTRACT:
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allowing the fraud to continue as long as it did. AA contributed to the disaster by approving the structure of many Special Purpose Entities (SPE)‚ which Enron used for off-balance sheet financing. The SPEs did not meet the requirements of an independent company and should have been consolidated with Enron’s financial statements. Shares transferred to SPEs were not valued on the financial statements in compliance with GAAP‚ and side deals between Enron and banks were not brought to the attention
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AA’s approval of Special Purpose Entities (SPE) that was used to generate false profits‚ hide losses and keep any undesirable information off Enron’s financial statements. 2. Which Arthur Andersen decisions were faulty? AA made many decisions in regards to the Enron audit which led to their ultimate downfall. Briefly discussed below are some decisions made by AA that failed to adhere to GAAP. AA approved the structure of many Special Purpose Entities (SPE) that were used to generate false profits
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DEBIT CREDIT AND ENRON Accounting has become very essential part of any business in today’s world. It helps the business keep running and makes sure that things are going towards in right direction. It controls expenses‚ improves plans‚ accountability and reporting under given regulatory framework. Accounting plays vital role in profitability of any concern. Profit is the life blood of any business‚ so how profit is reported on books is always key concern. Over a period of years there has been
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