Gillette will deal with the lawsuit in an appropriate way. Waverly doesn’t have to worry about this. American International Group Case Key agents: American International Group‚ a multinational insurance corporation. PNC‚ which wants to use AGI’S SPE service. Ernst&Young‚ PNC’s audit firm. Michael Joseph‚ a partner of Ernst&Young Overview: AIG started a new
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My Joys and Pains in my SPES Summer job 2012 School year ends‚ different plans comes our way. Vacation here‚ gimmicks there‚ or even party everywhere. These are few of the things which drive the satisfaction of students when school is over. But practical students have better idea of spending their vacation wisely and this is to apply for a summer job. Special Program for the Employment of Students or better known as the “SPES Summer job Program” is a program spearheaded by our ever-dynamic Governor
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Abstract Zimbardo’s Stanford Prison Experiment (SPE)‚ investigating the effects of roles in a simulated prison environment‚ significantly impacted the psychological understanding of role conformity. However‚ recent evidence suggests results from this seminal experiment are less reflecting of role conformity‚ with findings alternatively attributed to demand characteristics. This critique is constructed as further examination of SPE revealed participants were able to predetermine the experimental hypothesis
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Wikipedia and “In the Beginning” in SPE: Wikipedia states‚ “The term ‘affirmative action’ was first used in the United States in Executive Order 10925 and was signed by President John F. Kennedy on 6 March 1961‚” while SPE negatively mentions‚ “In 1972‚ affirmative action became an inflammatory public issue.” Similar remarks continue throughout the encyclopedias. However‚ Wikipedia’s coverage of this topic is more restricted. In terms of inclusiveness and granularity‚ SPE contains more examination‚ details
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MEMORANDUM TO: Senior‚ Publicly Traded Company FROM: Team B (Staff I) DATE: February 4‚ 2013 SUBJECT: Audit of Share-Based Payment and Special Purpose Entities (SPE) Reporting This executive memo is a summary and analysis of our audit findings for the client‚ a publicly traded company‚ and its financial practices. Please review this correspondence in accordance with your request. We look forward to meeting in person for further discussion and to make an informed recommendation
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Enron History Special Purpose Entities (SPEs) were used and often abused by most large corporations in the late 1990’s. Enron was likely the corporation that abused the accounting treatment the most‚ but certainly not the only one. The Enron SPEs were not hidden from the auditors or the investing public‚ but were so extensive‚ invasive‚ and complex that no one‚ including primary architect‚ Andrew Fastow‚ was able to understand the total implications. The 2000 financial statements for Enron included
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Questionable Transactions 1. The special purpose entities (SPEs) got Enron into trouble. 2. It is debatable whether Enron’s directors knew how profits were being made through the SPEs. Speculation is that they did have knowledge‚ but did not question the questionable procedures. Evidence that indicates the directors knew how profits were being made includes the following: • Andrew Fastow’s role in establishing the SPEs and falsely creating 3% independent investors in each.
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One is the use of special purpose entities (SPEs). Although SPEs often serve legitimate economic purposes and are still in use today‚ Enron used several of them to hide debt and to overstate equity and earnings. Accounting standards required that third parties own at least 3 percent of the assets in SPEs. This rule was violated. Enron also represented that the SPEs helped it to hedge downside risk. This turned out not to be the case‚ because the SPEs used Enron’s stock and financial guarantees to
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Understanding Gas-Condensate Reservoirs How does a company optimize development of a gas-condensate field‚ when depletion leaves valuable condensate fluids in a reservoir and condensate blockage can cause a loss of well productivity? Gas-condensate fields present this puzzle. The first step must be to understand the fluids and how they flow in the reservoir. Li Fan College Station‚ Texas‚ USA Billy W. Harris Wagner & Brown‚ Ltd. Midland‚ Texas A. (Jamal) Jamaluddin Rosharon‚ Texas Jairam
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commitment with Barclay Bank because outside investors were not found. Because of this‚ they restated activities of JEDI and Chewco SPEs so they could be retroactively consolidated into Enron’s accounts. The SPEs helped to hide the inaccurate accounting records. Enron’s legal department wrote contracts that helped provide a cover for misuse of funds regarding the SPEs. Future revenue was reported as current revenue. Stocks were paid with promissory notes instead of cash. They also engaged in off-the-books
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