The Enron Kaiwing Ho Ethics‚ Governance & Accountability BU.135.301.U2.FA12 Professor Crain November 21‚ 2012 Enron Since Enron Corporation has been bankrupt there were 20‚000 employees lost their jobs‚ medical insurance and average severance pay was only $4500. However‚ the top executives were paid bonuses totaling $55 million. In 2001‚ employees lost $1.2 billion in retirement funds and retirees lost $2 billion in pension funds. Yet‚ Enron’s top executives cashed in $116 million
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Enron and How it Affected the Accounting Industry Enron once was one the United States largest energy company and was ranked Fortune’s seventh richest corporation in the United States. When Enron had a filed for Chapter 11 bankruptcy in 2001 it unraveled to be one the biggest accounting scandals in United States history. There are many factors that contributed to Enron’s demise but their aggressive and unethical accounting practices were the key component. As a result‚ the accounting industry
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pill leads not only to more regular menstrual cycles but also decreased blood loss. The pill has become the most significant hardware component of contraception and recent estimates from the World Health Organization state that somewhere between 50 and 80 million women currently use the oral contraception. The pill like any other drug does have some cautionary side effects. Some minor effects include weight gain‚ nausea‚ libido changes‚ breast tenderness and headaches. More serious effects include
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Whistle blowing is informing on illegal and unethical practices in the workplace. It is becoming increasingly common as employees speak out about their ethical concerns at work. It can have disastrous consequences for the individual‚ as well as threatening the survival of the organization that is being complained about. In this issue‚ philosopher Sissela Bok asserts that although blowing the whistle is often justified‚ it does involve dissent‚ accusations‚ and a breach of loyalty to the employer
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Snow blowers have changed very little over the last fifty years. Perhaps the most notable innovation is the creation of electric models. These plug-in snow blowers are easier to use and smaller than conventional gas blowers‚ but aren’t right for everyone. Electric snow blowers run entirely on electricity from a power outlet. People like them because you don’t have to worry about running out of gas and there is no oil to change. They start with a push of a button- no need to yank a starter cord!
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Is Whistle-blowing Good for an Organization or Not? This paper will explore whistle-blowing by giving a definition‚ a brief history of a couple of famous whistle-blowers‚ and how whistle-blowers have a positive effect in today’s business. Origins of the Whistle-blower: “The term whistleblower derives from the practice of English Bobbies (police officers) who would blow their whistle when they noticed the commission of a crime. The blowing of the whistle would alert both law enforcement
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June 2008 Whistle-blowing in the workplace: Do we stand by and allow business corruption as usual or prepare to take a fall for something? It sometimes requires uncommon courage‚ as whistle-blowing in the workplace is not so easy to do. What motivates you? Is it revenge‚ ethics or a combination? To take a closer look‚ let’s consider what is whistle blowing and explore a few conditions used to justify whistle-blowing‚ and concluded with how companies can benefit from a whistle-blowing policy
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The Enron scandal A brief on Enron’s history Enron was formed in 1985 by Kenneth Lay after merging Houston Natural Gas and InterNorth. In the early 1990s‚ he helped to initiate the selling of electricity at market prices‚ The resulting markets made it possible for traders such as Enron to sell energy at higher prices‚ thereby significantly increasing its revenue. As Enron became the largest seller of natural gas in North America by 1992‚ Enron pursued a diversification strategy
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The Enron Scandal One of the most popular business bankruptcies and collapses known to date is that of the Enron Corporation. Enron‚ once known as "America ’s Most Innovative Company" by Fortune Magazine six straight years from 1996 to 2001. Enron seemed to be doing very well until the summer of 2001 generating a lot of cash and new businesses‚ but in October of 2001 Enron was forced to disclose that their accounting practices had been very creative‚ and failed to follow generally accepted accounting
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Enron: The Smartest Guys in the Room Importance of Accounting Accounting is important because it manages the checkbooks of company which are important to analyses and determine the success of the business by looking through the different account statements and translating the company documents. An accountant or accounting firm starts and maintains auditing of a company. Accounting is also important because it offers a great assistance in planning the future investments as well as being able
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