Wendi Kraus AC 503 Professor John Kuhn Unit #1 Case Study 1. The Enron debacle created what one public official reported was a “crisis of confidence” on the part of the public in the accounting profession. List the parties who you believe are most responsible for that crisis. There are many responsible for the crisis at Enron. The two main are the top executives at Enron and the auditors at Arthur Andersen. The auditors at Arthur Andersen clearly had a conflict of interest. Andersen
Words: 1701 - Pages: 7
THE ENRON CASE EXECUTIVE SUMMARY This study is about the fraudulence that happened in Enron, the conspiracy and other charges, the scandal that brought down the former US energy giant in 2001. The study is going to answer the question : "Is the Enron experience an illustration of the market system working or failing?” on the basis of a normative economy inquiry.` NORMATIVE ECONOMY Normative economics is that branch of economic inquiry that deals with value judgments—with what prices, production
Words: 892 - Pages: 4
Worldcom’s Organizational Culture Worldcom’s Organizational Culture One of the primary purposes a leader has in an organization is to maintain the characteristics that make up the organization. One of the main characteristics that make up an organization is the culture in which the organization operates and the code of ethics (Robbins & Coulter, 2012, p. 165) by which the organization expects its employees to follow. But, what does organizational culture really
Words: 1292 - Pages: 6
Watergate Student’s Name Professor Course Institution Date The Watergate Scandal was considered one of the most of disturbing political scandals in the history of America. This Scandal brought down a President and his administration, also made the American public distrust the government which still goes on today. In 1972 there were two break-ins at the headquarters of the Democratic National Committee, located in the Watergate office and apartment complex located in Washington
Words: 632 - Pages: 3
A college student decides she wants to become an accountant. General accounting and bookkeeping classes can be taken in high school. In college, the student needs to decide on a more specific field of accounting. An accountant has many choices as to what particular field of accounting to specialize in depending on the financial information she wants to analyze and how it is done. Financial accountants, tax accountants and internal auditors are all accountants in general, but require different training
Words: 749 - Pages: 3
In this case study, the causes of that the Andersen’s auditing of companies accused of accounting improprieties, it’s has a main factor. Because Athur Andersen do not think about the company who is to cooperate whit it is like Athur Andersen to make deceptive accounting. These four real cases to show us how they operate the deceptive accounting. First point, “Sunbeam.” 1997 sunlight company (SUNBEAM) is referred to the forge sales volume, the profit and the expenditure. Under its partner discrete
Words: 438 - Pages: 2
Enron Sharon R. Duncombe Professor Jamila Harris Business Law I – LEG 100 May 2, 2010 1) Describe how Enron could have been structured differently to avoid such activities. One of the reasons why the corporate governance system failed at Enron was because of the lack of good communication between the Board of Directors (BOD) and Top Management in Enron’s affairs. Various committees of the BOD were not doing your job, by not overseeing effectively the action’s of the company. “A good
Words: 2827 - Pages: 12
Enron Corporation’s rise involved detrimental decisions that originated from the very beginning of the company and every step there on. These crippling actions hindered the life of this enormous company: • Improper utilization of cash and lack of clarity about the company’s identity which led to the funding of failed ventures • Large payout bonuses, luxuries, management loans • Lack of harmony between management across different divisions and employees • Minimum seasoned professionals with
Words: 478 - Pages: 2
Table of Contents 1.0 Executive Summary 2 2.0 Statement of the Problem 5 3.0 Causes of the Problem 7 4.0 Decision Criteria and Alternative Solutions 10 5.0 Recommended Solution, Implementation and Justification 11 6.0 External Sources 14 1.0 Executive Summary WorldCom’s origin can be traced to the 1983 breakup of AT&T. Small, regional companies could now gain acces to AT&T’s long distance handphone lines at deeply discounted rates. The companies turn to Bernard J (Bernei) Ebbers
Words: 2938 - Pages: 12
Transcript of Copy of EFFECTIVENESS OF RETENTION POLICY AMONG ACCOUNTANCY STUDENTS 1. There are no common problems among accountancy students on why they fail their accounting subjects. 2. Retention policy of an accountancy student is very important in order for them to become a Certified Public Accountant. HYPOTHESES INTRODUCTION 1. What are the common problems why accountancy students fail to pass their accounting subjects? 2. What are the advantages and disadvantages of having a retention
Words: 1441 - Pages: 6
