Unethical Practices of Arthur Anderson: Week 2 Checkpoint ACC/260 – Accounting Ethics: Keeping It Clean September 26‚ 2013 Thomas Scholz What did Arthur Andersen contribute to the Enron disaster? Assistance! Arthur Andersen assisted Enron in deceiving stakeholders by revealing ways to generate false profits and hide losses through the development of Special Purpose Entities (SPEs). Enron’s consolidated financial statements did not depict or clearly
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Practice Problems Module 3 Module 3 Practice Problems & Solutions Introduction to Financial Accounting in the 21st Century © Gaber‚ Hayes & Porporato 2011 1 Practice Problems Module 3 PROBLEM 1 – MULTIPLE CHOICE QUESTIONS 1. In recording transactions‚ (a) The word debit means to increase and the word credit means to decrease. (b) Assets‚ expenses‚ and owners’ drawing accounts are debited for
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Coors beer‚ a household name in the beer industry‚ is produced by the Adolph Coors Brewing Company which is based in Golden Colorado. Exactly how big is the Adolph Coors Brewing Company? As of 2001‚ the company ranked number three in beer sales‚ expanded into all 50 states. Currently Coors is the world ’s largest‚ single-site brewery. However‚ behind this imagery is a long history of discrimination‚ anti-labor policies‚ human rights violations and environmental ruin. The company was started by
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that payment. No deductible expenses should be charged on CCC’s book. 3) For Worldwide: ➢ It seems that Worldwide withheld $2500 from Erin’s termination pay (total before tax salary $12000-net paid amount $9500)‚ which might be charged under income tax payable and others deductions per USA tax act. From Worldwide’s perspective‚ the payment is deductible expenses. But in fact‚ since Erin is the employee of CCC‚ the payroll should be paid through CCC instead of Worldwide
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Enron: Questionable Accounting Leads to Collapse In the case of Enron‚ it comes down to pure greed and a lack of accountability. From the top‚ there was illegal activity with Ken Lay‚ Jeffrey Skilling‚ and Andrew Fastow who raided the company as though it was their own personal bank. On top of that‚ the culture of the rest of the company was to make as much money as they could and employees were rewarded by the amount of profit they could make without questioning the ethical means to do so.
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The Role of Leaders in Influencing Unethical Behavior in the Workplace Linda Klebe Treviño Michael E. Brown A fter years of focusing on explaining and predicting positive employee attitudes (e.g.‚ job satisfaction‚ employee commitment) and behaviors (e.g.‚ employee citizenship‚ work performance)‚ organizational behavior researchers have increasingly turned their attention to understanding what drives costly misconduct in organizations (Bennett & Robinson‚ 2000; Giacalone & Greenberg‚ 1997;
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------------------------------------------------- MGT 360 ------------------------------------------------- busINESS ethics AND SOCIal responsibilty UNETHICAL PRACTICES OF TWO COMPANIES OCEANIC BANK PFIZER PHARAMACEUTICAL OCEANIC BANK Oceanic Bank International Plc‚ Nigeria. The present CEO of Oceanic Bank International Plc is John Aboh. Oceanic bank is one of the most leading financial service institutions in
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Practice Ethical Behavior * The Institute of Management Accountants lists the principle of ethical behavior as the "...obligation to the public‚ their profession‚ the organization they serve‚ and themselves‚ to maintain the highest standards of ethical conduct" that include competence‚ confidentiality‚ integrity and objectivity. Don’t Risk Without Significant Return * Risking profits for poorly designed projects violates a basic principle of financial management. The capital market theory
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custom essays Analysis Nike was under international pressure from various communities and non-governmental organizations on the issue of practicing unethical business tactics to enhance profits. For example Nike‚ which outsources most of its manufacturing tasks to other companies‚ had to face stiff public censure for possibly encouraging labor practices that provided very little compensation to the workers. Most of Nike’s shoe and apparel manufacturing units are situated in the Asian region where the
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right and wrong. Usually values would influence the attitudes and behaviors of business person for their decisions making. Values on the part of business are Operating philosophies or principles that guide an organization’s internal conduct as well as its relationship with the external world. Whereas attitudes are predisposition or a tendency to respond positively or negatively towards a certain idea‚ object‚ person‚ or situation. Attitude influences an individual’s choice of action‚ and responses
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