Q. 1. What is the difference between an ordinary decision and an ethical one? Q. 2.Why study business ethics? Q. 3. What is the primary objective of U.S. antitrust laws? Q. 4. Why was the Sarbanes -Oxley Act enacted? Q. 5. What is the difference between athical delama and ethical Q. 6. When do you consider insider trading legal? Q1. Ordinary decision does not have ethical decision tied in to it. Which means the ordinary decision does not have much effect as making ethical
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MANY STRANDS: A CASE STUDY; A Video Study Of Enron Offers A Picture of Life Before the Fall By SHAILA K. DEWAN Published: January 31, 2002 Correction Appended SIGN IN TO E-MAIL PRINT SINGLE-PAGE In April 2000, Enron was still flying high, at least publicly. Jeffrey K. Skilling, the president and chief operating officer at the time, faced a video camera and spoke enthusiastically about the corporate culture that would, he insisted, enable Enron to go from the world's largest energy-trading
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Enron Case Part1: Profitability: According to Enron’s 1998~2000 Financial report, Enron was reported increasing revenues and earnings-per-share (Table 1). However, they have been reporting a decrease in gross profit margins and net profit margins (Table 2). Although the revenue was increasing from 1998 to 2000, the cost of doing business in Enron was also increasing over time. For example, in 2000, the company had usual cost increasing in gas, electricity metals and other products
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Deal. What caused the need for the Sarbanes-Oxley Legislation? The Enron scandal was certainly enough to show the American public and its representatives in Congress that new compliance standards for public accounting and auditing had to be put into place. Enron was one of the biggest and, it was thought, one of the most financially sound companies in the U.S. Enron was perhaps the catalyst for the Sarbanes-Oxley legislation. Enron stands for the greatest company scandal in the history of the US economy
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SOX Summary Jason Garrett LAW/421 1/12/2014 Instructor: JANE SCHNEIDER The Securities and Exchange Commission was created to hold companies accountable for reporting their current state of financial information on a statement to give the market and investors a snap shot of the company health. This basic legislation of 1933-1934 Securities Act was very basic when you fast forward six or several decades later since that Act there were legislation drafted twice one in 70’s and in the other in
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1. What were the individual factors that contributed to the failure of Enron? Briefly explain two key factors. Greed was the first individual factor that one can blame for the failure of Enron. As the greed of gain has no time or limit to its capaciousness, the executives did massive fraud and insider trading in order to get more profit because of their egoism, self-interest. As a result, their irresponsible behaviour led the company into bankruptcy with numerous executives charged with criminal
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Extra Credit 2 Jeff Chisholm 1 – Securities Exchange Commission (source: BYP4-5 of Kimmel textbook) What we do Answer the following questions: a. What event spurred the creation of the SEC? Why was the SEC created? The SEC was created due to the stock market crash of 1929 which led to the great depression. The SEC was created to protect investors in security exchanges such as the stock market. It is responsible for oversight of both private investment and corporate investment dealings
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Auditing a Publicly Traded Company Darren Bruneck, Andrew Green, Shalatikka Smith ACC/541 October 20, 2014 Christine Errico MEMORANDUM TO: Christine Errico, Manager FROM: Darren Bruneck, Andrew Green, Shalatikka Smith DATE: October 20, 2014 SUBJECT: Auditing a Publicly Traded Company The goal of any publicly traded company is to make a profit. Many factors come contribute to the equation to achieve this goal. The most important factor is compliance with the Accounting governing
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States passed in 2002. It brought the most important reform in the current public financial reporting of United States. The act was developed to reinstate the confidence of public in the public companies management after the scandals of WorldCom, Enron, and others. Sarbanes-Oxley has influenced the liabilities and responsibilities of Board of Directors, Corporate Executives, Auditors, Audit Committees, and Analysts (Advantages and Disadvantages, 2012). The strength of the act is companies have better
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University of Greenwich ASSIGNMENT SUBMISSION COVER SHEET SUBJECT CODE : ACCO 1095 SUBJECT TITLE : MANAGEMENT ACCOUNTING PROGRAMME : BA H ACCOUNTING AND FINANCE SEGi ID : SCKL-000-38656 UOG ID : 000900130 LECTURER’S NAME : MR. KANTARUBAN LEARNING CENTRE : SEGi COLLEGE KUALA LUMPUR SUBMISSION DATE : 04TH OCT 2015 Introduction The main problem is the "green accounting and green eyeshades Twenty Years Later" (Thornton, 2013). Green accounting is
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