The University of Chicago Booth School of Business Executive MBA Program Financial Accounting Chicago 12 Team Members 1. George Fischer 2. Gang Huang 3. Joshua Rademacher 4. Robert Gallo 5. Stanley Tara 6. Santosh Shankergowda I pledge my honor that I have not violated the Booth Honor Code during this assignment.
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Management Scandal BUS 320 Finance 1/8/16 Waste Management Waste Management Incorporated is considered the nation's largest waste collector (Feder). Waste Management is a well known brand and dominates regions of the United States and Canada where they provide services. Anyone who sees their trucks tends to think, "Garbage". During the early 1990's, instead of just picking up the garbage, Waste Management provided garbage to their investors in the form of an accounting scandal. This scandal would
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businesses all across the world, and many companies have been going a number of years covering up the real financial value of their company. Forensic accountants are becoming much needed as accounting frauds, financial scams, and various economic scandals are beginning to increase globally. This type of accountant does more than the typical accountant of a business or corporation, because their objective is to investigate fraudulent activities being used in the accounting departments of these companies
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In, 1985 two gas pipeline decided to merge to form The Enron Corporation. Enron was once the seventh largest publicly-held corporation in the nation. The purpose of this case study is to first research how the corporate leaders at Enron, who are so smart, managed to display such poor judgment. Secondly, answer the question: What do you see as the contributing factors to the demise of corporate giants like Enron, World Com, TYCO, Arthur Andersen, and others? This case study will identify at least
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Using points from the discussion at the end of the Week 2 lecture, prepare your answers to the following. What were the individual factors that contributed to the failure of Enron? Briefly explain two key factors. The greed has resulted in the failure of Enron. As shown in the film, most of the the executive, managers and staff are arrogant intolerant and greedy, blind by money, they are looking for personal gain which means focus on individual rather than collective.
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Background of the Case In 1930, Enron began as Northern Natural Gas Company; founded by the North American Light & Power Company (35%), United Light & Railways Company (35%) and the Lone Star Gas Corporation (30%). After a decade, the company was able to double its system capacity and expand its business through acquisitions. In 1985, a merger acquisition with Houston Natural Gas (HNG) took place. The following year, the company’s name was changed to Enron Corporation. Shuffling the management
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Watergate Scandal through watching this film. Nevertheless, the Investigative journalism/writing shown in the film did not fail to give such a strong knowledge about the various illegal government and criminal activities and idea about how one works in this industry. The Washing Post reporters Bob Woodward and Carl Berstein illuminated the “behind the scenes” of what really happened during the Watergate break in that eventually lead to the major scandal in the 1970s, the Watergate scandal. It includes
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1. Enron, an international energy company, faced a lot of business risks because of the industry they were in. Enron’s business model, an intermediary between buyers and sellers of energy and profiting off the price differences, was risky in itself because it exposed Enron to energy prices risks as well a fluctuating foreign currency. While continuing to expand their business, Enron began offering a variety of financial hedges and contracts to their customers. This new venture uncovered interest
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of Rs 5 crore on Ramalinga Raju, the Satyam Computer Services Ltd's founder and former chairman, and his brother B Rama Raju and Rs 20-25 lakh each on the remaining accused. HT presents a lowdown of the country's biggest-ever corporate accounting scandal . What is the Satyam scam about? It is about corporate governance and fraudulent auditing practices allegedly in connivance with auditors and chartered accountants. The company misrepresented its accounts both to its board, stock exchanges, regulators
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Nixon tried to do whatever it took to make the outcome justify all of the wrong that he did. Nixon tried anything that he thought might work, so that he could have a second term as the president. Nixon paid the plumbers not to talk about all of the illegal things that they were told to do and Nixon paid the plumbers with the campaign donations. The plumbers lied under oath which is illegal. Nixon paid the plumbers to lie because if they had told the truth, Nixon would not have been elected for
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