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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Lead Person Centred Practice 1.1 Explain person centred practice ANSWER;- Person centred practice is providing care and needs which centres on the client. Its a way of caring for person as an individual and putting them and their families at the heart of all decisions. They are recognized as individuals with their own personality‚ likes and dislikes who has individual beliefs and preferences.Person centred practice put value to the independence‚ privacy‚ partnership‚ choice‚ dignity‚ respect
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Question 1 0 out of 1 points If the opening balance of equity is $45‚000‚ the closing balance is $60‚000 and profit is $27‚000‚ calculate the amount of dividends paid which will appear as a financing outflow in the statement of cash flows. Answer Selected Answer: Nil. Correct Answer: $12‚000. Question 2 1 out of 1 points If ’other expenses’ in the profit and loss report is $32‚000 including $8‚000 of depreciation‚ accrued ’other expenses’ at the beginning
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Running head: COMPARING IFRS TO GAAP University of Phoenix ACC/290 Week 5 8/12/2014 Susan KuniyoshiRunning head: COMPARING IFRS TO GAAP IFRS 2-1: In what ways does the format of a statement of financial of position under IFRS often differ from a balance sheet presented under GAAP? IFRS does not mandate a specific order or classification of accounts on the statement of financial position. In most cases‚ companies report assets in reverse order of liquidity. An example of the order of accounts
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ASISTENSI COST ACCOUNTING UNIVERSITAS BAKRIE 1. 18-16 The following data‚ in physical units‚ describe a grinding process for January : WIP‚ beginning 19‚000 Started during current period 150‚000 To account for 169‚000 Spoiled units 12‚000 Good units completed and transferred out 132‚000 WIP‚ending 25‚000 Accounted for 169‚000 Inspection occurs at the 100% completion stage. Normal spoilage is 5 % of the good units passing inspection. 1. Compute the normal
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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 to challenges‚ incentives‚ and rewards (together called stimuli). Four major components of attitude are: (1) Affective: emotions or feelings; (2) Cognitive: belief or opinions held consciously; (3) Conative: inclination for action; and (4) Evaluative: positive
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EXERCISE 2–1 Classifying Manufacturing Costs [LO1] Your Boat‚ Inc.‚ assembles custom sailboats from components supplied by various manufacturers. The company is very small and its assembly shop and retail sales store are housed in a Gig Harbor‚ Washington‚ boathouse. Below are listed some of the costs that are incurred at the company. Required: For each cost‚ indicate whether it would most likely be classified as direct labor‚ direct materials‚ manufacturing overhead‚ selling‚ or an
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1. Cash equivalents are short term investments that are converted into cash. Examples include money market funds‚ U.S. Treasury bills‚ and high-grade commercial paper. These items are combined with cash for the purpose of a balance sheet because cash equivalents are so similar to cash that they are combined. The cash equivalents are very safe‚ have a market value‚ and mature in 90 days of the date of acquisition. If they do not meet these requirements‚ they are to be listed as Marketable Securities
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Enron: Questionable Accounting Leads to Collapse The Enron Corporation was established by integrating two major gas pipelines in 1985. The Company provided products and services related to natural gas‚ electricity‚ and communications and it was one of the world’s leading organizations at these sectors with claimed revenues of nearly $101 billion in 2000. Throughout the 1990s‚ Chair Ken Lay‚ chief executive officer Jeffrey Skilling and chief financial official officer Andrew Fastow transformed
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QUESTION 2: Identify some challenges that diversity at the workplace might bring. ANSWER There are challenges to managing a diverse work population. Managing diversity is more than simply acknowledging differences in people. It involves recognizing the value of differences‚ combating discrimination‚ and promoting inclusiveness. Managers may also be challenged with losses in personnel and work productivity due to prejudice and discrimination and complaints and legal actions against the organization
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