Case Study Enron Scandal - 5642 Words

CASE 3 Enron: Questionable Accounting Leads to Collapse Once upon a time, there was a gleaming headquarters office tower in Houston, with a giant Tilted ―Eâ€â€" in front, slowly revolving in the Texas sun. Enron‘s suggested to Chinese feng shui practitioner Meihwa Lin a model of instability, which was perhaps an omen of things to come. The Enron Corporation, which once ranked among the top Fortune 500 companies, collapsed in 2001 under a mountain of debt that had been concealed through a complex scheme of offbalance –sheet partnership. Forced to declare bankruptcy, the energy firm laid off four thousand employees; thousand more lost their retirement saving, which had been invested in Enron stock. The company‘s shareholders lost tens of†¦show more content†¦Delivering bad news could result in the ―deathâ€â€" of the messenger, so problems in the trading operation, for ~ample, were covered up rather than being communicated to management. Enron Chair Ken Lay once said that he felt that one of th e great successes at Enron was e creation of a corporate culture in which people could reach their full potential. He said at he wanted it to be a highly moral and ethical culture and that he tried to ensure that people did in fact honor the values of respect, integrity, and excellence. On his desk was an Enron paperweight with the slogan ―Vision and Values.â€â€" Despite these intentions, however, ethical behavior was not put into practice. Instead, integrity was pushed the side at Enron, Particularly by top managers. Some employees at the company believed that nearly anything could be turned into a financial product and, with the aid of complex statistical modeling, :traded for profit. Short on assets and heavily reliant on intellectual capital, Enron‘s corporate culture rewarded innovation and punished employees deemed weak. ENRON’S ACCOUNTING PROBLEMS Enron‘s bankruptcy in 2001 was the largest in U.S. corporate history at the time. The bankruptcy filing came after a series of revelations that the giant energy trader had been using partnerships, called special-purpose entities (SPEs), to concealShow MoreRelatedEnron Essay1433 Words   |  6 Pagesthe Causes and Effects of the Enron Accounting Scandals Name: Do Minh Tam Class: MEP 100 Lecture: Karen Bird Date: December 24, 2010 Introduction Background From the 1980s until now, there have been a lot of accounting scandals which were widely announced on by media. The result of this situation is many companies were bankruptcy protection requests, and closing. One of the most widely reported emulation of accounting scandals is Enron Company. Enron Corporation is one of the largestRead MoreCorporate Fraud Has Taken The World By Storm For Over The Past Decade1479 Words   |  6 PagesThe biggest fraud cases to ever occur happened in 2001 and 2002 and since then fraud seems to be more and more common around the world. According to Forbes.com (n.d) the biggest fraud cases to ever occur was Enron, Bernard Madoff, Lehman Brothers, and Cendant, with Enron being the largest accounting scandal to ever take place. Prior to Enron’s fraud scandal coming to light in 2001, they were the seventh largest company in the United States by revenue, this was the same year Enron filed bankruptcyRead MoreEnron Scandal1477 Words   |  6 Pagesï » ¿Current issue: Scandals in auditing Enron Scandal 1. Introduction Accounting scandals are political or business scandals which arise with the disclosure of financial misdeeds by trusted executives of corporations or governments. These days, not too often, these scandals are splashed as headlines across media. Why? Because there are complex groups of stakeholders who might be seriously affected by the scandals. Enron scam was the most remarkable scandal in 20 centuries by their institutionalizedRead MoreFailure Of Responsible Management : Enron Corporation1645 Words   |  7 Pagesmanagement. The Enron Corporation is an example, because Enron event is the typical case for organization failure of responsible management In the end of 2001, Enron scandal has been disclosure, Enron stock prices slumped, and its financial tricks was exposed. The Securities and Exchange Commission (SEC) began survey of company s records. Enron’s auditor ‘Arthur Andersen ‘destroys relevant documents. 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However Enron was found to record assets and profits at inflated, fraudulent and non-existent amounts. Debts and losses were found to be excluded from financial statements along with other m ajor transactions between Enron and other companiesRead MoreEnron Case Study Summary976 Words   |  4 PagesEnron Case Study The case of Enron is a fascinating one. United States is a country where auditing and accounting principles are so strong. How can something take place on such high level in the United States? The Enron case demonstrates the need to reform the accounting and corporate governance practices in the United States. Moreover, the Enron case made government officials to pay close attention to deregulated energy market. Some of the aspects that struck me are discussed below. One of theRead MoreEnron and Parmalat973 Words   |  4 Pages Managua, Nicaragua Sept 28th, 2013 ENRON Background In 1985 Kenneth Lay merged his company, Houston Natural Gas, with Nebraska’s InterNorth to create the Enron; a company to be the biggest natural gass corporation to exist in the U.S. During the 1980’s, under the presidency of Ronald Raegan, there was a considerable lack of regulations regarding the energy markets, thus allowing the company to buy and sell contracts for a delivery at some time in the future. By 1990 Jeffery Skilling joinedRead MoreCorporate Culture Of Enron And Bankruptcy1327 Words   |  6 PagesIntroduction The case study is about Enron and about their biggest failure that lead the company towards bankruptcy. Enron got bankrupt to the extent that was no point of returning back and reversing its wrong doings. The only thing that the company had to think about was how to return the losses of its creditors. Enron Corp. was left with $12 billion in assets which was to be distributed among more than 20,000 creditors. Around 80% of creditors of Enron backed the long-awaited reorganization planRead MoreEnron Case Study Analysis1699 Words   |  7 PagesBusiness Strategy Enron Case Study 09/08/12 Enron Case Study: From Company to Conspiracy 1. What is the History of Enron, and what current situation does it find itself in? Enron was created by a combination of companies. These companies were Houston Natural Gas and InterNorth. These companies were merged together in July 1985. CEO of Houston Natural Gas, Kenneth Lay became chairman and CEO of the combined company. This happened in February 1986. The company changed its name to Enron on April 10th

Emily Dickinson As A Poet Of The Dark And Depressive Nature

Most think of Emily Dickinson as a poet of the dark and depressive nature. She has a reputation of being an introverted, isolated writer who wrote mainly about death and the horrible aspects of life. While this is true, her isolation and depressive nature is what makes her poems as brilliant and cherished as they are. Although her poetry touches on troubling subjects of mental pain, suffering, and despair, there is also a sense of hope, peace, and a yearning for God in her works. As some would say, â€Å"You can’t have the good without the bad†, and Emily Dickinson is a perfect representation of that. Emily Dickinson’s life was that of obscurity and simplicity. She spent little time outside of the family home and died at the premature age of fifty-five. Having had no known romantic relationships or children, she spent her life considerably alone. Aside from her family and the years she was in school, she was never around people who she could become close to or fo rm relationships with. This would have greatly affected her writing style, subjects, and mindset when it came to writing. There is little evidence as to why Dickinson was so introverted and reclusive. Many have wondered what led her to the solitary life she led, but it is stated simply in her biography, â€Å"Speculation abounds, certainty eludes; nothing is simple and direct about her behavior.† (Brand). She also wouldn’t have been writing for fame, money, or prestige since she never cared much about gaining the favor ofShow MoreRelatedAnalysis Of Edgar Allan Poe And Emily Dickinson1203 Words   |  5 PagesEdgar Allan Poe and Emily Dickinson were phenomenal Early American poets whose poems were in some ways similar in subject matter. However, they were a world apart in writing styles, and they both shared a common thread known today as Bipolar Disorder or Manic Depression. According to the description on MedicineNet.com Bipolar disorder is â€Å"Alternating moods of abnormal highs (mania) and lows because of the swings between these opposing poles in mood and a type of depressive disease. Sometimes the

All-4-One free essay sample

The interracial group All-4-Ones self-titled debut album was released at a time when even some of the most enthusiastic R listeners could not tell the difference between many groups. Jodeci, for example, has recently come out with a new album, entitled, Diary of a Mad Band. But All-4-One stands out above all the rest, combining R and soul to create a new look and sound for the music industry. All-4-Ones first song released, So Much in Love, is a new rendition of a song that was created decades ago. How is it different? All-4-One sings it a cappella, combining perfect harmony and melody with a great song to bring it to number one in no time. All-4-Ones second song, recently released I Swear, is also making it big, nearing the number one slot after being on the charts for only a couple of weeks. We will write a custom essay sample on All-4-One or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The rest of the album is much of the same; downright great music. But not all All-4-Ones songs are as slow as the first two. The group livens the tempo a little more in the song, Skillz. So, whether you like slow wedding songs or dance music, All-4-One is a great CD to buy, and I can promise you wont be disappointed. .

Knowledge vs. Experience Essay Example

Knowledge vs. Experience Essay The celebrated Indian philosopher J. Krishnamurti one time said. There is no terminal to instruction. It is non that you read a book. base on balls an scrutiny. and finish with instruction. The whole of life. from the minute you are born to the minute you die. is a procedure of larning. ( whale. to/a/krishnamurti ) Krishnamurti is turn toing larning as a procedure in which an person attempts to derive certain cognition for foreordained intents. He clearly believes that rote memorisation is inferior to larning from experiences. Academic cognition through text editions can learn persons theories about life. Life. nevertheless. perverts from theory often. The lone manner persons are traveling to cognize about these divergences is when they experience the battles and fruits of life on their ain. [ Similarly. in this compelling novel by Herman Hesse. Siddhartha learns that enlightenment can non be reached through his 7 instructors because it can non be instilled in an individual’s head -enlightenment comes from the inner ego and through the experiences in which 1 must obtain wisdom from. ] he said it can be a small better In the gap of the novel. Siddhartha is influenced by outside instructions in his hunt for enlightment. His male parent and his associated community ideally want him to go a successful Brahmin. alternatively of fall ining the Samanas. Everyone else around him still has non reached enlightenment. and Siddhartha feels that shacking with them will increase his wonder sing his presence in life. ( Siddhartha to himself ) [ He had begun to surmise that his worthy male parent and his other instructors. the wise Brahmins. had already passed on to him the majority of their wisdom†¦ his psyche was non at peace. ( 3 ) ] Siddhartha craves to better admit the innermost kernel of ego and its connexion to the universe in a society. The cognition passed on to him nevertheless does non explicate this. which is why Siddhartha speculates the beginnings of the universe and his topographic point in it. When Siddhartha departs on his journey to accomplish enlightenment. he joins the Samanas and accustoms rapidly to their lifestyle because of the endurance and subject he learned in the Brahmin rites. H e learns how to liberate himself from the mercenary universe he was populating in. losing his desire for ownership and dress. However Siddhartha is still unsated. We will write a custom essay sample on Knowledge vs. Experience specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Knowledge vs. Experience specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Knowledge vs. Experience specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The way of self-denial does non supply an constituted solution for Siddhartha. He comes to the realisation which is this: the Samanas have been merely every bit unsuccessful as the old counsel he has encountered. Siddhartha’s thirst for cognition has merely increased. as he tells his good friend. I suffer thirst. Govinda. and on this long Samana way my thirst has non grown less†¦I have ever thirsted for cognition. ( 15 ) Buddha is still funny. therefore Govinda convinces him that they both should go forth the Samanas and seek out the Buddha. During Siddhartha’s quest for enlightment. he and Govinda are looking for Gotama’s whereabouts. As they are taken in. Siddhartha is informed about a instruction called the Eightfold Path and the four chief points in order to accomplish the lasting solution of abstaining from the pleasances of the universe. However. while Govinda is wholly influenced by these instructions. Siddhartha is still non satisfied. ( Gotama to S iddhartha ) [ The learning which you have heard†¦is non to explicate the universe to those who are thirsty for knowledge†¦its end is redemption from the agony. ( 27 ) ] Siddhartha is still unsated. and desires to grok the significance of life’s intent in the universe in an complete manner. Like the Samanas. Buddha’s followings escape from world without linking to it. Most significantly. Siddhartha feels that he can non accomplish enlightment from an external beginning such as a instructor. He grounds that in order to make enlightenment. one must larn merely through experience and instructions by other wise mans. Wisdom is gained through experience. while cognition is taught. This is the ground he can non accept Buddha’s instructions. At this point of the novel. Siddhartha knows he will hold to go his good friend behind to get down a hunt for the significance of life which will be based on experience. instead than spiritual instructions. Siddhartha determines to put out on a life abstaining from speculation and to alternatively come in the stuff universe to research the physical pleasances of his organic structure. In this new universe of his. Siddhartha encounters a friendly ferryman. populating his free life to its fullest. After traversing the ferrymanà ¢â‚¬â„¢s river. he arrives to a metropolis where a beautiful kept woman named Kamala mesmerizes him. He believes she would be the most worthy one to learn him about the physical facets of love. but Kamala will merely teach him until he proves he can suit into the mercenary universe. With her counsel. Siddhartha takes up the way of the merchandiser and engages in concern with a adult male named Kamaswami who taught him how to merchandise. While Siddhartha achieves the wisdom of the concern universe and experiences how to make concern in the material universe. Kamala becomes his lover and teaches him about every physical facet of love. [ She taught him that lovers should non divide from each other after doing love†¦so that no feeling of devastation arise nor the horrid feeling of misusing ( 54 ) ] Siddhartha renounces the religious way and exchanges the hunt for Atman to see physical pleasances. However. Siddhartha and Kamala are both incapable to give and have existent love at this phase in the novel. Siddhartha has eliminated himself from the universe wholly and is non influenced by what the universe has to offer him. Since both these external ushers are unable to learn him wisdom. he knows he must now accomplish wisdom on his ain. This consciousness itself comes from his inner ego. Siddhartha starts his way to seek enlightenment go forthing the Brahmins. the Samanas. Gotama. and the stuff universe because he fe els unhappy with himself. As Siddhartha leaves the corrupted stuff universe. he approaches a river and considers what way his life has taken him. Ironically. the same ferryman whom he met old ages before introduces himself with the individuality as Vasudeva. Siddhartha senses interior peace and wisdom within this adult male. and motivates him to obtain it every bit good. Finally Siddhartha resides and works with Vasudeva until he comes to cognize his boy was born. With his boy. Siddhartha eventually experiences love. but since love is a connexion to the universe. it threatens to deflect Siddhartha from his hunt for enlightenment. It’s non until now when Siddhartha has gained wisdom on his ain without any mercenary influences. therefore the love he expresses for his boy becomes a trial of this wisdom. ( Siddhartha to himself ) [ It is a good thing to see everything oneself†¦as a kid I learned that pleasances of the universe and wealths were non good†¦ but I have merely merely experienced it now†¦ ( 80 ) ] Siddhartha implies that the Buddha’s instructions or any beginning of external counsel do non d o one enlightened ; they merely transfer cognition to the society around them. Siddhartha is cognizant enlightenment can merely be reached if he will be able to accept love. and every bit hard as it might be. to even accomplish Nirvana. Successfully. Kamala and his boy influenced him to a great extent and because of them. Siddhartha learned and experienced how to love the universe and accept it as a whole. Siddhartha encounters many instructors of wisdom during his journey. but each fails to take him to his end: to seek enlightenment. The ferryman nevertheless. is successful and shows Siddhartha how to happen enlightenment within him by barricading out all exterior counsel. [ Vasudeva will non merely state Siddhartha what he should cognize like the others. but a usher who will take him where he wishes to go. ] After go forthing the material universe. Siddhartha seeks for cognition from the river he crossed and Vasudeva ushers Siddhartha to listen to it for a better apprehension of what the river communicates. Vasudeva does non state Siddhartha what the river will state. but when Siddhartha discloses what the river has expressed to him. Vasudeva clearly admits that he excessively has received the same wisdom on his a in. Now. Siddhartha realizes that he himself becomes the ferryman after making enlightenment. ( Siddhartha talking to himself ) [ The river is everyplace at the same time†¦ Siddhartha the male child. Siddhartha the mature adult male. and Siddhartha the old adult male [ are ] merely separated by shadows. non through world. ( 87 ) ] The river is compared to Siddhartha as it is considered uninterrupted but yet ever changing within. deeper below the organic structure of H2O. Siddhartha now belongs to everything environing him alternatively of being classified to a peculiar group. At the terminal of the novel. Govinda returns to the river. still seeking enlightenment. and asks Siddhartha to learn him what he has learned. Siddhartha explains that neither he nor any other single can learn the wisdom to Govinda. because spoken accounts are definite and can neer pass on enlightenment as a whole. ( Siddhartha to Govinda ) [ When person is seeking †¦he is unable to happen anything†¦because he is obsessed with his end. ( 113 ) ] Govinda is confused merely like he was when they met near the river after Siddhartha had considered suicide. This means he still does non understand the significance of life because he hasn’t experienced the universe. staying a follower to Buddha. Therefore. Siddhartha’s ultimate attainment of Nirvana does non come from external counsel pass oning the wisdom to him. but alternatively by sing an internal connexion with the river. which encompasses the whole existence.