employees that it wouldn’t be a big deal if they cheated their way to the top. They didn’t care if the employees cut corners to finish a goal or made a risky decision. All they cared about was the money. The executives used an accounting device Repo 105 to get $50 billion dollars in undesirable assests off their balance sheets.
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Name: Date: Exp 1: Observations of Chemical Changes Lab Section: Data Tables: Part 1: Chemicals Well No. Observations of the Reaction A. NaHCO3 + HCl A1 clear‚ bubbles B. HCl + BTB B1 yellow‚ clear C. NH3 + BTB C1 clear blue D. HCl + blue dye D1 green E. Blue dye + NaOCl E1 clear blue with the 1 drop of HCl green/blue F. NaOCl + KI A2 rusty-yellow with 1 drop of starch black G. KI + Pb(NO3)2 B2 yellow‚ not clear H. NaOH + phenolphthalein A3 purple‚ violet I. HCl + phenolphthalein
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: Today former Lehman CEO Richard Fuld testified before the U.S. House Financial Services Committee continuing to insist he had no recollection whatsoever of hearing anything about Repo 105 transactions while at Lehman. Fuld testified Bankruptcy Court Examiner Anton Valukas distorted relevant facts about Repo 105‚ and that he signed off on SEC filings because his chief legal officer and others raised no issues. Rep. Jackie Speier (D- CA) disagreed with Fuld that the Examiner’s report vindicated
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in turn Lehman’s top management set a tone for the overall operation‚ and created a culture of corruption. The culture at Lehman Brothers was to take risks at all costs. This led to shady deals which ultimately lead to the company’s downfall. Repo 105 is a good example of how Lehman misused this device to get $50 billion of undesirable assets off its balance sheet at the end of the first and second quarter of 2008‚ rather than counting and selling those assets at a loss. They continued to take lots
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liability and asset from companies balance sheet. Other examples of off balance sheet financing are selling receivable‚ joint ventures‚ special purpose vehicles‚ convertible debt‚ sales and repurchase agreement‚ which used by Lehman Brothers as REPO 105. Causes Of Lehman Brother Failure: Lehman Brother collapse is one of the biggest financial crises in US history. But there is no single reason behind the collapse of Lehman Brothers. There are misuse of accounting tools and standards‚ unethical management
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Preparing Isopentyl Acetate by the Fischer Esterification Preparing Isopentyl Acetate by the Fischer Esterification Leah Monroe May 8‚ 2003 Organic Chemistry Lab II Experiment performed on April 29 and May 1‚ 2003 Abstract: The purpose of this experiment was to synthesize isopentyl acetate via an esterification reaction between acetic acid and isopentyl alcohol‚ using concentrated sulfuric acid as a catalyst. The product was washed with sodium hydrogen carbonate‚ as well as with water
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Equilibrium In your text (Chang‚ 6th Ed) : Ch. 15 Chemical Equilibrium‚ esp. Section 15.3 Purpose: The Law of Mass Action will be examined via a series of samples using the same reaction‚ but different stating concentrations. The equilibrium constant‚ K‚ for each reaction will be calculated‚ demonstrating that K for a given reaction at a fixed temperature is a constant‚ independent of starting concentrations. Background: For a general reaction aA + bB ↔ cC + dD‚ the Law of Mass Action
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Table of Content: 1. Company Introduction……………………………………………………..…………………………………….3 2. Collapse……………………………………………………………………………………..…………………………..3 3. The Report of Anton R. Valukas…………………………………………..……….…………………………3 4. The accounting fraud (Repo 105)…………………………………………………...……………………….3 5. The Auditor……………………………………………………………………………………………..……………..4 6. Ernst and Young role in Lehman Brothers´ case……………………………………………………….4 7. The “Netting Grid”……………………………………………………………………………….………………….5 8. Materiality
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expert Anton R. Salukis‚ Lehman Brothers excessively used accounting manipulations. The negligence or the willful blindness of Lehman’s CEO‚ Richard Fuld‚ promoted the practice of filing misleading financial reports by abusing an accounting device‚ Repo 105. Through this accounting manipulation‚ they could remove fifty billion of unwanted assets off the balance sheets on 2008 (Robbins‚ 2012‚ p. 147). With the information gathered‚ Team B determined that not was Lehmans Brothers unethical in its organizational
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dusjankdcfdguhnsj The Sculpture garden also has the Buddha‚ which is of religious significance. This reminds us of Buddha’s teachings like enabling us to experience lasting happiness and conveys the message of truth‚ peace‚ humanity and equality. Buddhism is as a very pragmatic religion. There is no theology‚ no worship of deity. It takes a straightforward look at our human condition‚ nothing based on wishful thinking‚ at all. Everything that Buddha taught was based on his own observations
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