Financial Accounting Theory and Analysis 10e Chapter 1 - The Development of Accounting Theory What is Theory? Webster defines theory as “Systematically organized knowledge‚ applicable in a relatively wide variety of circumstances; a system of assumptions‚ accepted principles and rules of procedure to analyze‚ predict or otherwise explain the nature of behavior of a specified set of phenomena.” Why is the development of a general theory of accounting important? The development of a general
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with respect to the fiber. LJM2 sold a portion of the fiber to industry participants for $40 million‚ which resulted in Enron recognizing agency fee revenue of $20.3 million. LJM2 sold the remaining dark fiber for $113 million in December 2000 to an SPE that was formed to acquire the fiber. In December 2000‚ LJM2 used a portion of the proceeds to pay in full the note and accrued interest owed to
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Wireline Tractor Techonology Ms. Metsai Chaipornkaew ID 513 10459 21 Abstract The current increasing trend in the oil and gas industry to secure future reserves drives a demand for increasingly complex well design in highly deviated‚ horizontal and even ERD with various downhole hardware. A way of optimizing mechanical inventions is the utilization of establishes downhole wireline technology in order to make it possible to perform reliable‚ economical and flexible interventions. Especially‚ it
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Griffin mentioned in his book‚ “researches at a University of Michigan identified two basic form of leader behavior: job-countered and employee-centered”. (553) Job-countered leader behavior belongs to Andy Grove. Under this behavior leaders “pay close attention to subordinates’ work‚ explain work procedures and interesting in performance” (Griffin‚ 553) Grove were “man of actions” and liked to settle the issues. He was an activist with instantaneous reaction who knew what people around him must do‚ and
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Competitors Financial Analysis Sony’s three large business divisions: Electronics Entertainment Financial services Profitable businesses: Financial Services Music Pictures Devices *All electronics segments are declining (too BAD) Comparison of Sce and SPE => Electronics Segment lost money in four years and had almost no profit in two other years due to
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Professional Development Article: The CPA Journal Enron Ten Years Later: Lessons to Remember Acct 4501W- Auditing Concepts Professor Feller March 11‚ 2013 Summary In the article entitled Enron Ten Years Later: Lessons to Remember‚ the authors Anthony H. Catanach Jr. and J. Edward Ketz discuss the importance of learning from the mistakes made by the senior executives of Enron. The “off-balance sheet” that Andrew Fastow‚ the CFO of Enron‚ created to funnel tens of millions of dollars into
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Enron Case The internal controls that were ignored when LJM1 was created were one‚ LJM’s books were kept separate from Enron’s. LJM1 ignored some of Enron’s entries in the books that were missing. Outsiders owned less than 3% of the Special Purpose Entities equities. There was an error made by Arthur Andersen to let LJM’s financial statement to remain unconsolidated. If the financial statements had been consolidated‚ some of the errors could have been found. They may have even had some time to correct
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Two areas stand out as ones of particular concern. First‚ the rules apparently permitted the widespread use of market-to-market (MTM) accounting in areas for which it was not originally intended. Second‚ the 3 percent rule for outside ownership of SPEs was arguably too low to maintain genuine independence. An underlying issue was that corporate practice (e.g.‚ sophisticated online
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Controller (CTC) and TL1 version of that alarm. If the troubleshooting procedure does not clear the alarm‚ log into the Technical Support Website at http://www.cisco.com/techsupport for more information or call the Cisco Technical Assistance Center (1-800-553-2447). For more information about alarm profiles‚ refer to the “Manage Alarms” chapter in the Cisco ONS 15454 DWDM Procedure Guide. Note Unless otherwise noted‚ ONS 15454 refers to the ANSI and ETSI versions of the platform. 2.1 Alarm Indexes
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TOPIC Risk management with respect to Oil & Gas Industry INTRODUCTION India is the fifth largest consumer of energy in the world‚ and is likely to surpass Japan and Russia to become the world’s third biggest energy consumer by 2030. According to the International Energy Agency (IEA)‚ hydrocarbons satisfy major energy demand in India wherein coal and oil‚ together‚ represent about two-thirds of total energy use. Natural gas accounts for about 7 per cent share. India has about 5.7 billion barrels
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