Enron and WorldCom FIN/486 December 22‚ 2014 Enron and WorldCom In 1998‚ Waste Management executives acknowledged earnings misstatements of approximately $1.7 billion. With the help of the Arthur Anderson accounting firm‚ Waste Management shareholders lost more than $6 billion dollars (CNN‚ 2001). The Waste Management corruption ushered in a series of corporate scandals into the new millennium. Enron and WorldCom were only two of many ethical and accounting violations that prompted new legislation
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A CRITICAL STUDY OF VIRTUE ETHICS IN ARISTOTLE AND KANT Aristotle was the first western thinker to divide philosophy into branches which are still recognizable today: logic‚ metaphysics‚ and natural philosophy‚ philosophy of mind‚ ethics and politics‚ rhetoric; he made major contributions in all these fields. He was born in Stagira‚ a city of northern Greece in 384 BC. His father Nicomachus was a doctor at the court of Amyntas of Macedon‚ who preceded Philip‚ the conqueror of much of Greece. Aristotle
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The abortion and the utilitarian view Abortion is a sensitive topic that requires a considerable amount of understanding when addressing the ethics behind it. Abortion is defined as the termination of pregnancy thus ending the life of the embryo/fetus prematurely (Matthews MP‚ Dutt T‚ 1998). My ethical justification for abortion stems from a utilitarianism standpoint. When using the utilitarian consequential principle of ethics‚ we establish a set of general morals and rules in which we can apply
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Kantian and Utilitarian Theories Kantian and Utilitarian Theories Applying philosophical concepts to social issues can test the relevance of philosophy in contemporary society. Such application may also help to resolve present-day social issues‚ as philosophy can draw light on moral concerns. In this paper‚ the Kantian and Utilitarian moral theories are applied to the Nestle advertising controversy which began in 1970‚ and which lingers
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detail generally accepted accounting principles and ethical standards involved in health care finance. In addition‚ the significance of ethical standards of conduct and financial reporting practices will be outlined. Generally Accepted Accounting Principles Generally accepted accounting principles (GAAP) are the regularly followed accounting guidelines and standards for financial reporting. “GAAP specifications include definitions of concepts and principles‚ as well as industry-specific rules
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Ethics Comparison Anthony Phillips University of Phoenix Ethics 316 Aaron Rawls 10/13/2014 Ethics Comparison This paper will compare the similarities and differences between virtue theory‚ utilitarianism‚ and deontological ethics. This comparison will provide a description of the differences in how each theory addresses ethics and morality‚ and a personal experience to explain the relationship between virtue‚ values‚ and moral concepts as they relate to one of the three theories. Virtue theory states
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In book one of Nicomachean Ethics‚ Aristotle establishes his belief that in order for humans beings to achieve true happiness‚ they should try to find balance in certain aspects of their life called virtues. To define true happiness‚ Aristotle formulates that whatever happiness is‚ it must be the highest good (49). In other words‚ Aristotle is indicating that whatever we do in life‚ we do for the sake of happiness. Furthermore‚ true happiness is the apogee of our intentions. Once we achieve true
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215 Spring 2007 Enron Stakeholder Assignment Enron was a dream come true for a lot of people‚ but it was also a nightmare waiting to happen for many more. I am going to examine the collapse of Enron from the management perspective. The three examples of Enron behaving badly that I am going to study are the incidents in Valhalla‚ the electricity trading in California and the conflict of interest between Andy Fastow and his special purpose entities (SPE). These are just a few cases that led to the
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Enron: Leadership without Ethics and Practical Execution Enron‚ once one of the largest energy public companies globally‚ achieved a $65 billion asset volume but only took 24 days to go bankrupt. Initially‚ its main service is extracting natural gas and manufacturing energy-using products‚ but the excessively aggressive and benefit-oriented type of operation makes the company create lots of so-called "innovative" investment department and financial products. All these activities played as the
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Examine how utilitarian arguments might be applied to one issue of your choice? ACT UTILITARIANISM Act Utilitarian theories start with specific cases from which general principles can be deduced. Bentham’s Hedonic Calculus weighs up the following measures of the consequential pleasure/pain: CertaintyDurationExtentIntensityRemotenessRichnessPurity Situation 1 – Abortion would be morally right if the mother’s life is in danger. The period of the pain of the loss of the mother will be ongoing‚ the
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