Arthur Andersen was in charge for the accounting records of several companies including Enron‚ WorldCom‚ and Waste Management. By early 2002‚ they had been charged of falsely auditing books for all three companies. The business revenue from these clients was more important than the ethical decision‚ so they managed to provide misleading information for several years. Waste Management‚ Enron and WorldCom all wanted to show higher profits to meet Wall Street expectations and therefore overstated cash
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Summary The founder of IKEA is Ingvar Kampard in Sweden since 1943. IKEA originally is selling fish‚ Christmas magazines‚ matches and seeds. Acronym for IKEA stands for I and K is founder’s initial name‚ E is Elmtaryd‚ his family farm name‚ A is Agunnaryd‚ a name from a village in Sweden where the farm located. In 1948‚ IKEA starts adding furniture in product line. IKEA goals are to provide stylish‚ functional design and cost efficiency which most of the people can afford it. Hereby‚ he starts to
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Table of Contents Executive Summary 3 Introduction……………………………………………………………………………………………4 Agency Theory and Relevant Hypotheses 5 ABC Learning Centres Limited - Australia 7 Olympus Corporation - Japan ……………………………………………………………………..10 WorldCom Incorporated - United States of America…………………………………………… 13 Conclusion 16 Reference List…………………………………………………………………………………….…17 Executive Summary “An analysis of corporate collapses” is a report that discusses the concept of Agency Theory
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Enron Questionable Transactions Question 1 The question which segment of its operations got Enron into difficulties is simple to answer‚ everything. Almost every all segments of their operation were improper. First of all‚ they practice unethical and dishonest practices which victimized workers‚ consumers‚ taxpayers and stockholders. Enron created partnerships within their own organization which led to them creating new financial instruments‚ called SPE’s (special purpose entities) which was
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Anderson’s audit partners. However unlikely‚ Arthur Anderson managed to push company boundaries and imploy tactics of a blind eye and a deaf ear within companies such as Enron‚ WorldCom‚ etc. With that being said‚ one should not fall under the impression that AA acted alone or solely arranged for these occurrences i.e. Enron and WorldCom bankruptcies to take place; clients were also at fault! According to Barbara Ley Toffler‚ “When Berardino (AA’s CEO) would get up at a partners meeting‚ all that was ever
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Literature Review: Literature portrays logistics and MIS practices from a variety of different perspectives with a common goal of ultimately improving performance and competitiveness. 1. Analysis of financial and MIS excellence of BRAC Bank Joydeep Sinha Roy‚ BRAC university 2. Course teacher instructions and lectures over the semesters. 3. Course book entitled Management Information Systems ( Managing the digital firm) written by Laudon and Laudon. While there is plenty of published
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(1993). Creative Financial Accounting. Prentice Hall International (UK) Limited. News‚ B. (2002). BBC News Business. Retrieved 2013‚ from news.bbc.co.uk: http://news.bbc.co.uk/2/hi/business/2080180.stm Robert Kaplan‚ H. B. (2005). Accounting Fraud at Worldcom. 3-9.
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CAPSIM MANAG EMENT SIMULATIO NS‚ INC. STRATEGIES FOR ETHICAL REASONING Release Date: March‚ 2012 Capsim Ethics Plug-in: Identifying the Options In hindsight‚ it is always easier to see how we might have done things differently. How can ethical reasoning help us identify what our options might be before we act and evaluate which of those options might be the most appropriate course of action? Like most academic disciplines‚ the study of ethics is charged with energetic debate. The ethical
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Inside the WorldCom Scam Title: Pointing the Finger Question: The corporate scandal involving WorldCom regrettably illustrates improper cost transfers designed to achieve higher profit levels. WorldCom did not transfer the cost from leases from the balance sheet to the income statement as quickly as they should have. This had the effect of overstating assets on the balance sheet and net income on the income statement. Please watch this section of American Greed: Inside the WorldCom Scam: http://www
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Which segment of its operations got Enron into difficulties? The fall of Eron has understandably generated significant interest in the professional literature as well as in the popular press. The activities and events underlying Enron’s collapse are manifold‚ but several stand out as particularly noteworthy. 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
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