Final Paper Matthew Duncan ACC205: Principles of Accounting 1 LaKeitha Givens June 13‚ 2011 Final Paper What makes a large organization like Wal-Mart financially successful? One could say it is the result of outstanding personnel or perhaps a strong determination to succeed. These factors certainly contribute. However the key to financial success in organizations lies in good accounting. Since early civilization began‚ accounting has been an important part of our financial
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accounting principles were not being followed and hid the fact that Enron’s policies and internal controls were not good enough to protect its shareholders. 3. The prime motivation behind the decisions of Arthur Andersen’s audit partners on the Enron‚ WorldCom‚ Waste Management‚ and Sunbeam audits was not public interest‚ as it should have been‚ but how much of a profit could be made. Examples that reveal this motivation include the fact that the CEO only ever reported profit as a measure of success
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November 19‚ 2010 Members: AC 516 8:30-10:30 Alfie Mae Mañaul Sir Sevilla John Vershir Lumacang Agapito Yang The Rise and Fall of Enron As one of the world’s leading electricity‚ natural gas‚ communications and pulp and paper companies with claimed revenues of nearly $101 billion in the year 2000‚ Enron should have not ignored the importance of transparency which gives assurance. Transparency is defined as the quality or state of being understood and candid. Every
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" Sociology 25. Harvard University. 20 Feb. 2008. Chandra‚ Gyan. "The Enron Implosion and Its Lessons." Journal of Management Research 3 (2003): 106-110. Hamilton‚ Stewart. The Enron Collapse. International Institute for Management Development. Lausanne: IMD‚ 2003. Pettigrew‚ Andrew M. "On Studying Organizational Cultures." Administrative Science Quarterly 24 (1979): 570-581. Sims‚ Ronald R.‚ and Johannes Brinkmann. "Enron Ethics (or: Culture Matters More Than Codes)." Journal of Business Ethics
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Congress Received through the CRS Web The Enron Collapse: An Overview of Financial Issues Mark Jickling‚ Coordinator Specialist in Public Finance Government and Finance Division Summary Only months before Enron Corp.’s bankruptcy filing in December 2001‚ the firm was widely regarded as one of the most innovative‚ fastest growing‚ and best managed businesses in the United States. With the swift collapse‚ shareholders‚ including thousands of Enron workers who held company stock in their 401(k)
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Evidence based management uses best scientific evidence available to help in decision making (Thomas & Pring 2004). Air Canada adopted this management approach and employed the use of emotional intelligence‚ EI‚ during their selection process to identify pilots with high EI. An intensive research in social science reveals EI as a key determinant of success in individuals and the organisations they serve (Diana Durek & Shawna Sheldon 2009). Accordingly‚ Air Canada has relied on this valuable piece
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University of Sunderland BA (Honours) Accounting and Financial Management APC311 International Financial Reporting Version 1.0 International Financial Reporting Published by The University of Sunderland The publisher endeavours to ensure that all its materials are free from bias or discrimination on grounds of religious or political belief‚ gender‚ race or physical ability. These course materials are produced from paper derived from sustainable forests where the replacement rate exceeds consumption
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The particular causes of Enron ’s failure are complex. There are lots of issues that have to do with the Enron collapse. Enron is a company that was called as Houston Natural Gas and then Enteron. It becomes politically connected player in the new deregulated market of energy. At one time Enron appears to have been a successful and innovative enterprise‚ principally engaged in trading and dealing in energy-related contracts. At some point it expanded by making substantial investments in a variety
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1.1 Aspects of Andersen’s culture that would be signals of a dysfunctional culture. Inability to question superior’s practices and incapability to suggest new ways of doing things in all areas of the firm. Andersen’s organization‚ culture and practices were derived from the old structure‚ which were still seen as the best practices even if outdated. At the organization‚ new trends of the market and new competitors were not going to change any of the company. "Don’t question it. That’s the
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that was being used by Enron for off-balance sheet financing that misleading the public that Enron is doing well. These fraud generated by creating false profits‚ hide losses‚ keep financing off Enron’s consolidated financial statements. Instead of giving a proper advise and addressed these issuers to Enron‚ Arthur Anderson allowed Enron to continue to manipulate their numbers and mislead the stakeholders. As an advisor‚ Arthur Andersen doesn’t have the desire to confront Enron board in order not to
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