practices came about because one corporation‚ Enron‚ took risks their company could not withstand without taking some rather extreme measures in its accounting to hide the risk. Tyco International went down a different path in that the CEO used corporate accounts as his personal bank account. He placed certain business associates on the Board of Directors to ensure his behavior would not be found out nor questioned. As corporate ethics goes‚ Enron and Tyco International are prime examples of bad
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Part 3 The bankruptcy of Enron not only significantly impact the employment and pension of workers‚ but also the relevant major financial institutions‚ including investment Banks‚ commercial Banks‚ pension funds and mutual funds. On Feb. 14th‚ 2002‚ the international accounting standards foundation chairman and former Federal Reserve chairman Paul pointed out that the obvious problems in accounting and auditing profession has formed a kind of crisis after a long-term period of existence. A typical
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1. Define the problem(s) Enron failed to record some of its transactions. Arthur Andersen did not allow the LJM financial statement to stay unconsolidated. 2. Analyze the situation - again‚ take a "lessons learned" approach. You might use the following questions as guides: A. What important internal controls were ignored when LJM1 was created? LJM1 ignored some of Enron’s entries in the books that were missing. Outsiders owned less than 3% of the Special Purpose Entities equities. There was
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Nutrition Basics Why Food Matters Copyright © 2006 Learning Seed Suite 301‚ 641 W. Lake St Chicago‚ IL 60661 800.634.4941 info@learningseed.com www.learningseed.com Nutrition Basics Why Food Matters Legal Niceties The Video Copyright © 2006 Learning Seed. This video program is protected under U.S. copyright law. No part of this video may be reproduced or transmitted by any means‚ electronic or mechanical‚ without the written permission of the Publisher‚ except where permitted by law. This
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it took Enron 16 years to go from about $10 billion of assets to $65 billion of assets‚ and 24 days to go bankruptcy. Enron is also one of the most celebrated business ethics cases in the century. There are so many things that went wrong within the organization‚ from all personal (prescriptive and psychological approaches)‚ managerial (group norms‚ reward system‚ etc.)‚ and organizational (world-class culture) perspectives. This paper will focus on the business ethics issues at Enron that were
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of ethical issues raised in the movie “Enron-the Smartest Guys in the Room” but the four I am going to focus on are listed below. Art Anderson‚ Ken Lay and all of the other executives did a number of unethical things which ultimately brought down Enron and affected thousands of employees and their futures. The bottom line was that each and every one of them acted out of greed for the almighty dollar. 1- Encouraging employees to invest and buy stock in Enron when they knew the truth about the lack
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Chapter 2 Basics of Vibration Dynamics Vibrations are mechanical oscillations about an equilibrium position. There are cases when vibrations are desirable‚ such as in certain types of machine tools or production lines. Most of the time‚ however‚ the vibration of mechanical systems is undesirable as it wastes energy‚ reduces efficiency and may be harmful or even dangerous. For example‚ passenger ride comfort in aircraft or automobiles is greatly affected by the vibrations caused by outside
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Enron‚ a Houston-based commodities‚ energy and service corporation‚ was named “America’s Most Innovative Company” for six consecutive years by Fortune Magazine. Ironically‚ its shares price had peaked at $90.75 in August 2000 and dropped massively to $0.67 in January‚ resulting in shareholders losing approximately $11 billion. In the November of 2011‚ it was revealed that Enron’s earnings had been overstated by several hundred billion dollars because enormous debts had been kept off from the balance
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a device‚ a material or a combination of materials used to fill or seal a pipe penetration so that the fire integrity of the rated barrier (wall or floor) is maintained whenever it is penetrated by the plastic pipe. Q. How are plastic pipe firestops tested to verify their performance? A. This is done by building a section of wall‚ floor‚ or floor/ceiling assembly with the plastic pipe and firestop in place. The complete unit is subjected to a fire test that meets the requirements of ASTM E 814
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Date: June 14‚ 2012 To: Miguel and Linda From: Title: Implementing a Web-Based Performance Appraisal System Miguel and Linda‚ as previously spoken you will be giving the vice president of marketing and his upper management team‚ an informational presentation about the Web-Based Performance Appraisal System. It is very important that this presentation be extremely successful and approved. So be ready to do a good job persuading‚ capturing their attention and interest. Primary and Secondary
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