Settled a shareholder class-action suit for $457 million. SEC fined ArthurAndersen $7 million. Fun fact: After the scandal‚ new CEO A. Maurice Meyers set up an anonymous company hotline where employees could report dishonest or improper behavior. Enron Scandal (2001) Company: Houston-based commodities‚ energy and service corporation What happened: Shareholders lost $74 billion‚ thousands of employees and investors lost their retirement accounts‚ and many employees lost their jobs. Main players: CEO
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DE VERA‚ K. RIGOR‚ J. & TAYAG‚ J. Brand is a name‚ sign‚ symbol‚ or design‚ or combination of these that identifies the maker or seller of a product or service . Although certain brands offers various product line and brand extensions‚ it does not mean that a brand is strong already. Note that years of existence do not also define a strong brand‚ rather to consider a brand a strong one the brand should have high brand equity; a clear brand positioning; and it must be competitive
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if statement is true or false (1pt ea) Total points (3pts) 6. (Blank) at the top levels of an organization report feeling the most pressured to compromise their ethics. Ans: Mangers Response: See page 4. 7. The interest in (blank) ethics is just a fad that has only recently been created by popular scandals (i.e. Enron‚ WorldCom‚ etc.) reported in the news. Ans: business Response: See page 7. 8. According to the authors‚ most people are guided by a strict internal (blank) compass
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Ethics MGT/498 September 26‚ 2013 Ethics In business there will always be the line to act with integrity or to lie‚ cheat‚ and steal. Famous author Douglas Adams once said‚ “To give real service you must add something which cannot be bought or measured with money‚ and that is sincerity and integrity” (Heathfield‚ n.d). The priority of any business is to serve the needs and wants of the customer and more important his or her stakeholders. Any business decision made in major corporations must
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ACCG 399 Reflection Learning Log Lecture 1 Financial Accounting is highlighted in the lecture. There are two key points of financial accounting. Firstly‚ financial accounting is a process involving the collection and processing of financial information to meet the decision-making needs of parties external to an orgnisation. The other one is related to laws and accounting standards‚ external reporting‚ financial statements‚ values and material‚ independent audit opinion‚ overview general purpose
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VISHALA Downfall – KADAVATIMA‚ VINASHAYA Financial frauds 1. ENRON were able to misrepresent their respective earnings reports and stock activity in a fraudulent manner 2. ENRON executives took advantage of investors; both current investors‚ as well as potential investors. 3. Enron’s downfall is basically the accumulated effect of its unethical practices in financing and reporting ENRON What is ENRON? ENRON was a multinational energy corporation that was founded in Omaha‚ Nebraska
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by the fiction world. Now‚ they are flirtatious‚ pulchritudinous maniacs that seduce teenage girls and exhilarate them in a voluptuous manner. I don’t know what you understand about Twilight - the film – but here’s what I got out of the film. The guy goes‚ ‘Hey‚ I’m a blood thirsty vampire who can suck the life out of people…oh… and I might kill you if we start dating’. Then she goes‚ ‘OK’. If someone says that to me‚ I would sprint a mile… even though he can run about a 1000 times faster than me
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Learning Objectives After studying this module you should be able to: Understand the importance of ethics Know the history of ethics in accounting Incorporate ethics into your decision process Know ethical standards for accounting professionals Understand ethical implications of the U.S. transition to IFRS Appreciate lessons learned from recent business scandals SECTION 1 — THE IMPORTANCE OF ETHICS Ethics is an important part of your accounting education and it will play an increasingly important
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2/6/14 Fiction Paper Jewelry at a Cost The short story “The Jewelry” by Guy de Maupassant displays a theme of irony throughout the story through an objective narrator. The story begins by leading the readers to think that the relationship between M. Lantin and his wife is stable and pleasantly upright. Irony strikes after the sudden death of Lantin’s wife. The irony emphasizes hints that are given earlier in the story through symbolism of material and non-materialistic things. Irony is a clear
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Individual Reflection Paper: Worst Team in History: Enron Sasha R. Chin Proofer Denise Greene Professor Haga February 24th‚ 2011 Introduction Teams are used to serve a variety of functions for organizations. According to Levi (2007)‚ teams are comprised of people working together on a common project for which they all are accountable. They are usually part of a larger organization and the members of the team have specific knowledge‚ skills‚ and abilities about the task at hand
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