ENRON Principles of Accounting Enron Key Players KENNETH LAY Former Enron chairman JEFFREY SKILLING Former Enron CEO DAVID DUNCAN Former Andersen partner NANCY TEMPLE Andersen lawyer THOMAS WHITE Secretary of the Army SHERRON WATKINS Enron vice president Enron started about 29 years ago in July 1985 in Houston‚ Texas.. A energy economist named Kenneth Lay became the CEO of Enron. Mr. Lay was a very optimistic
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Kantian Ethics It is clear from the case study that Alistair knows the contract is unorthodox. The problem he faces is whether he should overlook the bribe or report it to the board. The board of directors expects Alistair to tell the truth and report the bribe because of: his position as Chief Legal Officer‚ the board has a very strong ethics policy and they are wary of unethical activities. Immanual Kant theorised that moral rules are based on reason‚ in other words the ability to think and form
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Enron Case Study XXXXX XXXXXXXXX State College Enron Case Study Enron was a corporation founded in 1985‚ when a merger combined Houston Natural Gas and InterNorth (Thomas‚ 2002). Throughout the first five years of Enron’s existence‚ they had many struggles. According to Salter (2005)‚ the first years had many “near death” experiences. Eventually Enron was able to prevail over their many “near death” experiences. In 1989‚ “Enron locked in its first fixed price contract to supply natural
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Rosalind Hursthouse viewpoints on virtue-based ethics express how virtue ethics can provide guidance on a particular action‚ deal with moral problems or conflicts‚ and influence a range of emotions and emotional reactions (Timmons‚ 2012‚ p. 243). Hursthouse from a virtue ethics perspective‚ states that people act in accordance with duty and considers the question which character traits are virtues and explores how answers to this question can be supported by an appeal to the fact of a person’s natural
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Under the common law‚ accountants may be found liable to the clients who hire them under several legal theories‚ including breach of contract‚ fraud‚ and negligence. Accountants owe a duty to use reasonable care‚ knowledge‚ skill‚ and judgment when providing auditing and other accounting services to a client. In other words‚ an accountant’s actions are measured against those of a “reasonable accountant” in similar circumstances. The development of GAAPs‚ GAASs‚ and other uniform accounting standards
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The Enron Controversy: Techno-Economic Analysis and Policy Implications Girish Sant and Shantanu Dixit PRAYAS Subodh Wagle CEEP‚ University of Delaware‚ USA The Enron Controversy‚ Prayas‚ Sept. 1995 4 Ÿ The Enron Controversy Contents Summary 1. Power Purchase Agreement (PPA) Between Dabhol Power Company and Maharashtra State Electricity Board: Structure and Implications 2. The Enron Deal: Why the First Stage Should Be Cancelled 3. The Enron Controversy: Alternative Options For
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features of Virtue Ethics Virtue ethics is a custom which goes back to Plato and Aristotle; it is also known as aretaic ethics‚ from the Greek word arête meaning excellence or virtue. There are a number of key features to virtue ethics‚ one of the most significant being that it is an agent-centered theory rather than act-centered theory. Therefore it asks the questions ‘What sort of person ought I to be?’ rather than ‘How ought I to act’. The concept does not focus on actions being right or wrong‚
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Essay #1 Edmund Pellegrino states‚ in the Virtuous Physician and the Ethics of Medicine “that in most professional ethical codes‚ virtue and duty-based ethics are intermingled.” He is explaining how in both codes the medical professional is looking to the best interest of others‚ virtuously the patient. Virtue-based ethics is considered doing what is right not just because you are told to but because it is right. Duty-based ethics is the obligation and laws a person is expected to abide by with others
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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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Developed by Aristotle‚ virtue ethics presents an agent-centered moral theory based on virtues and what it entails for an individual to act virtuously. Since its development‚ virtue ethics has been criticized due to its agent-centeredness and the possible lack of guidance it provides on how the agent ought to act. Robert Louden argued that virtue ethics as a moral theory should be overlooked as it is unable to fully tell individuals how they should act. The aim of this essay will be to show that
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