Friday, January 24, 2020
Social class divisions have always played a prominent role in America. These class distinctions inflict unfair on all Americans. The idea of social class has been a central concept in determining the opportunities a person is capable of having. People from different socioeconomic backgrounds live different lifestyles as well as have different opportunities available to them. Because of this idea, people with a higher social class ranking have an advantage over those in lower class rankings. Class distinctions have inflicted limitations and less of an opportunity for been factors are a barrier and prevention for lower class Americans to have an equal opportunity. The sociological tone limitations that. Young people must be convinced of the value of a good education. Despite lofty goals such as instilling self-confidence and acquiring knowledge, a High School diploma increases future income. A non-high school graduate's average earnings in 1996 was $14, 013. A high school graduate earned 21,431 on average. Going to a college or trade school makes one's economic outlook even brighter with Bachelor holder earning 36,980 on average (Statistical Abstract of the United States). Thousands of inner city youth, smothered by the poverty and hopelessness that abounds in inner-city communities, lose their lives. In addition to physical moralities, many suffer an emotional death that ends in a loss of hope and continues the cycle of poverty and hopelessness. Economic disadvantage limits the number of resources available to youth. With over 49.8% of youth aged 12-24 living below
Thursday, January 16, 2020
TodayÃ¢â¬â¢s media plays a massive role in the establishment of a fantasy marriage that was first embodied in the classic tale of Cinderella. Many people are persuaded into believing that these finely crafted stories occur everyday and are very much achievable. Catherine Orenstein illustrates this in her essay Ã¢â¬Å"Fairy Tales and a Dose of RealityÃ¢â¬ . Orenstein relates the connection of many peopleÃ¢â¬â¢s fantasies and ambitions of perfect marriages and relationships with the success of HollywoodÃ¢â¬â¢s own interpretations of Prince Charmings and Cinderellas. However, the interpretations were not based off of pure fiction. She points out the popular T.V. series Ã¢â¬Å"The BacheloretteÃ¢â¬ is a satire of the entire Cinderella Story and draws many peopleÃ¢â¬â¢s attention because this is what so many of them crave. Many people however do not realize that the actual fairy tales themselves from the late 17th centuries are not at all about cliche happy endings and romance . These tales incorporate harsh truths that exist in human nature such as jealousy, greed, lying and cheating. Orenstein uses these examples to awaken people about how much are expectations and desires of romance and marriage have been manipulated and twisted over the past three hundred years into something almost unimaginable and far from reality. She puts to rest one of the most common fairy tales Cinderella by explaining how one of the original authors, Perrault, based his story off of typical aristocratic marriages in the 17th century and not from some make-believe fantasy that he wanted to entice his readers with. Orenstein closes the essay by bringing in the true history of the wedding. Weddings werenÃ¢â¬â¢t evoked by undying lust and erotic love for a partner, but rather they were established by the parents of the two families often times to settle disagreements or to spread the wealth by joining themselves together.
Wednesday, January 8, 2020
The historical fiction novel, The Adventures of Huckleberry Finn, by Mark Twain, is one of the most remarkable written pieces of literature in the United States due to its outstanding use of dialect. Twain was born and raised in Florida, Missouri- an extremely racist state-where the manner of how people speak impacts society, so he decides to write a novel, which he hopes will represent the different terminologies and their importance. Growing up, TwainÃ¢â¬â¢s father owned a slave and had an uncle who owned many so he was often found playing in slave head quarters and became inspired to create the well-known character Jim. This novel was written in the year 1885, which at that time, segregation and discrimination towards African AmericansÃ¢â¬ ¦show more contentÃ¢â¬ ¦HuckÃ¢â¬â¢s dad, Pap, dies as well so Huck no longer needs to worry about running away and constantly hiding from him. HuckÃ¢â¬â¢s definition of being civilized is going to church, having good manners, wearing clean clothes, and following societyÃ¢â¬â¢s rules. Huck, a carefree individual, lives a life of being an uncivilized outcast. He does not want to succumb to being civilized like the Widow Douglas and Miss Watson, and rejects dressing properly or attending school. He prefers to be unsupervised and live his life outside of the social norm. Huck makes his own judgments and decisions that are not influenced by society. Throughout the novel Huck struggles with two voices going through his mind. One voice is the voice of society, which suggests that he should turn Jim in to the authorities as a run away slave. The second voice is his own and he sees Jim as an equal individual and clearly can tell that turning him in would be wrong because he deserves freedom along with every other slave. As the novel continues, HuckÃ¢â¬â¢s judgment changes slowly into a person who sees everyone as equal and is not affected by society. When Huck talks about helping Jim escape to freedom, he feels guilty so he begins to write a letter to Miss Watson informing her that Jim ran away. Huck comes to the conclusion that he will end up feeling even guiltier if he turns in Jim, who has become a close friend of his. He decides to rip up the letter and says, Ã¢â¬Å"Alright, then, IÃ¢â¬â¢ll go to hellÃ¢â¬ (Twain
Tuesday, December 31, 2019
Ã¢â¬Å"Real integrity is doing the right thing, knowing that nobody s going to know whether you did it or not.Ã¢â¬ Ã¢â¬â Oprah Winfrey. Being born into an abusive family to a teen mother may hold some people from becoming successful, but not Oprah Winfrey. Winfrey uses her rocky past to motivate her to help others, and provide victims of sexual abuse with a safe haven. Winfrey has made an impact on America. The former pageant queen and talk show host helped establish the National Sex Offender Registry which made an impact on law enforcement and schools across the country. Winfrey also changed the face of talk shows by giving back to the community and focusing on bigger problems, not just celebrities and gossip. To better understand how Oprah Winfrey is heroic one must explore her past, her accomplishments, and how her kind heart has helped raise money for many charities. Oprah WinfreyÃ¢â¬â¢s past helped shape her into the influential person she is presently. According to achievement.org, the official website of a museum of living history in Washington D.C., Winfrey was born on January 29, 1954 in Kosciusko, Mississippi to mother, Vernita Lee and father Vernon Winfrey. Vernita was just a teenager when Oprah Winfrey was born. Winfrey was sexually abused by several of her motherÃ¢â¬â¢s friends and relatives while her mother was away working. The abuse lasted from ages nine to thirteen. When Winfrey tried to run away, she was sent to a juvenile detention home, but was denied admittance because allShow MoreRelatedOprah Winfrey s Ideas, Services, And Products1785 Words Ã |Ã 8 PagesOprah WinfreyÃ¢â¬â¢s Ideas, Services, and Products Oprah Winfrey is best known as an American television host, an actress, a philanthropist, a television producer, and an entrepreneur. She is well known for her highly acclaimed daytime talk show, The Oprah Winfrey Show, which ran successfully from 1986 to 2011. Her financial success from her talk show allowed Oprah to establish her own production company, Harpo Productions, in 1986 so that she can pursue her desire for acting and her love for greatly-madeRead MoreMergers and Acquisitions in Ghana20927 Words Ã |Ã 84 PagesOF CAPE COAST THE IMPACT OF MERGERS AND ACQUISITIONS ON THE CORPORATE FINANCIAL PERFORMANCE OF GUINNESS GHANA BREWERIES LIMITED BY STEPHEN SANYE BATOGBEE SEIDU A DISSERTATION SUBMITTED TO THE DEPARTMENT OF ACCOUNTING AND FINANCE OF THE SCHOOL OF BUSINESS OF THE UNIVERSITY OF CAPE COAST IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF MASTER OF BUSINESS ADMINISTRATION AUGUST 2008 Ã UNIVERSITY OF CAPE COAST THE IMPACT OF MERGERS AND ACQUISITIONS ON THE CORPORATERead MoreFundamentals of Hrm263904 Words Ã |Ã 1056 Pagesmoney From multiple study paths, to self-assessment, to a wealth of interactive visual and audio resources, WileyPLUS gives you everything you need to personalize the teaching and learning experience. Ã » F i n d o u t h ow t o M A K E I T YO U R S Ã » www.wileyplus.com ALL THE HELP, RESOURCES, AND PERSONAL SUPPORT YOU AND YOUR STUDENTS NEED! 2-Minute Tutorials and all of the resources you your students need to get started www.wileyplus.com/firstday Student support from an experienced
Sunday, December 22, 2019
Personality Theories Psych 504 November 3 2012 Dr. Claire Clifford Personality Theories A personÃ¢â¬â¢s personality says much about who he or she is. People define personality in different ways. Researcher after researcher has tried to come up with the best definition for what personality truly means. Case studies, correlational studies, and experimental designs are some of the most commonly used methods of research. These methods help better define personality. The advantages and disadvantages of each method differ and can be helpful or hurtful to the research of an individualÃ¢â¬â¢s personality. Defining Personality PersonalityÃ¢â¬ ¦show more contentÃ¢â¬ ¦Psychologists would use correlations to study personality by observing several people to see what affects their personalities. For example, most millionaires are not happy; therefore money does not make an individual happy. Thus, happiness does not make people millionaires. Some advantages to using a correlational study would be that individuals are easy to obtain to conduct the research needed. Another advantage would be that the subjects would be of a wide variety, which would add more to the results of the study (Martyn, 2008). However with advantages come disadvantages. For example, with correlational studies there is no background information obtained. Therefore, the reliability of the correlational studies is questioned. Experimental Designs (Advantage and Disadvantages) Experimental design research tends to use math and statistics to try to prove or disprove a hypothesis. Within an experimental design most of the research is controlled and leaves little room for error. One advantage of experimental design is that it is hard to disprove the results. However, a disadvantage is that because the conditions are controlled that makes the results too perfect. If the same experiment was conducted in an uncontrolled setting, such as the real world, the re sults would vary. Experimental designs make it easy for otherShow MoreRelatedPersonalities Theories Paper785 Words Ã |Ã 4 PagesRUNNING HEAD: PERSONALITIES THEORIES PAPER Personality Theories Paper Izine Harris University of Phoenix Kurtis Armstrong October 14, 2012 Personality Theories Paper Personality is derived from of many different theories and genres. Personality typically can be reference to as many diverse arrays of thoughts, feelings and behaviors that sets each individual apart in a unique way. Theorist has concluded that an individual external influence can inspire how certain traits are articulatedRead More645 Personality Theory Paper1050 Words Ã |Ã 5 PagesÃ¯ » ¿ Personality Theory Paper The Pursuit of Happyness PSYCH/645 Personality Theories Donna Belvin March 1, 2015 Instructor: Juliet Fenyk Introduction In the biographical film The Pursuit of Happyness, the central character Chris Gardner is a self- employed salesman with a girlfriend and five year old son, who has spent his life savings on medical machines. The sale of the medical machines is not producing consistent income and the lifestyle of his family suffers leading to hisRead MoreHumanistic and Existential Personality Theories Paper1238 Words Ã |Ã 5 PagesHumanistic and Existential Personality Theories Matrix Humanistic and Existential Personality Theories Matrix Theorists have invested years of research into learning the dynamics of oneÃ¢â¬â¢s personality. Humanistic and Existential Personality Theories offered perspectives that have proved to be valuable to those researching and exploring how oneÃ¢â¬â¢s personality develops and expands throughout life. From MaslowÃ¢â¬â¢s hierarchy of needs to Carl RogersÃ¢â¬â¢s developmentRead MorePersonality Is Developed From Genes ( Nature ) Or Influenced By Environment ( Nurture ) Essay1436 Words Ã |Ã 6 PagesThis paper explores the notion on whether a personÃ¢â¬â¢s personality is developed from genes (nature) or influenced by environment (nurture). Personality is something every human has and is an essential element in their social world. This research is important to know if, how, and why personalities change. Different scholarly-based material was used to support either stance on the issue. The articles and research helped to decipher the roles of parents, genes, biology, the envi ronment, experiences, andRead MoreConstructivism And The Theory Of Constructivism Essay2230 Words Ã |Ã 9 PagesConstructivism will be defined and its main premises will be explained. Following this, a communicative episode will be presented, along with an analysis of how this theory can be applied to this situation. Finally, the application of constructivism in different contexts will be discussed, as well the strengths and weaknesses of the theory. II. Explanation of Constructivism Constructivism, first theorized by Jesse Delia, seeks to explain the way individuals adapt their messages in order to successfullyRead MoreCareer Counseling Plan For Katie Golanski825 Words Ã |Ã 4 Pages This paper is a career counseling plan for Katie Golanski and examines her current skills, potential and as well as future goals. Several assessments will be examined and applied to this plan, such as the Kuder scale, and Meyers Brigg. Specific career counseling theories will also be applied to the output. Finally, recommendations for Katie will be made to best utilize her assets. Katie is a twenty-three year single Caucasian female with a bachelorÃ¢â¬â¢s degree in PsychologyRead MoreAn Investigation To See If There Is A D Essay1490 Words Ã |Ã 6 PagesÃ¯ » ¿An Investigation To See If There Is A Difference between Type A and personalities (as classified by Friedman and RosemanÃ¢â¬â¢s 1974 Questionnaire And Their Physiological Response To A Mildly Stressful Activity CONTENTS Introduction Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦ page 1 Aim Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦.page 1 Hypotheses Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦page 1 Method Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦page 1 Participants Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦page 2 Materials Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦Ã¢â¬ ¦........pageRead MoreHarvey Macht s The Television Show Suits, Portrayed By Actor Gabriel Macht1742 Words Ã |Ã 7 Pagesworked his way up from the mailroom to become an attorney and eventually a name partner of the firm. In the following paper I will explain Harvey SpectreÃ¢â¬â¢s personality, showing that he is extremely Type A. I will begin by exploring the origins of Type A personality, followed by the general characteristics and behavior patterns attributed to it, and contrast that with Type B personality at the other end of the spectrum. I will briefly discuss the link between Type A, more specifically hostility, andRead MorePsy 250 Complete Course (Psychology of Personality) - a+ Work1520 Words Ã |Ã 7 Pages(Psychology of Personality) - A+ Work IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://hwnerd.com/PSY-250-Psychology-of-Personality-Complete-Course-1138.htm?categoryId=-1 If You Face Any Problem E- Mail Us At Contact.Hwnerd@Gmail.Com Week 1 Individual Assignment Personality Reflection Write a 700- to 1,050-word reflective paper that addresses the following questions: o How would you define personality? o What are some key personality features thatRead MoreEssay about Jennys Personality; Interpretation of Forrest Gump1419 Words Ã |Ã 6 PagesGump: JennyÃ¢â¬â¢s Personality Monday, August 22, 2011 PSY202 Ã¢â¬â Principles of Psychology In this character analysis paper the character of Jenny Curran from the award winning movie Forrest Gump will be the subject of discussion. This paper will present an analysis of the JennyÃ¢â¬â¢s personality as it is applicable to Psychodynamic theory. The paper will present my rationale for the choice to use the Psychodynamic theory to describe Jenny CurranÃ¢â¬â¢s personality. In addition, this paper will present a
Saturday, December 14, 2019
The city of lights was all about fun and the nightlife during the 19th century. Fortunately enough, Jules Cheerer and Henry De Toulouse-Ululate were able to perfectly capture the essence of ParishÃ¢â¬â¢s blooming nightlife through their posters. Generally speaking, both posters are the same style, however, each artist was able to create different visual effects and atmospheric perspective using their own aesthetic sense. We will write a custom essay sample on Comparative Essay between La Goulue Les Girard or any similar topic only for you Order Now In this situation, both posters are advertising to the viewer the exhilarating nightlife n Parisian cabarets back in the 19th century. Yet, LatterÃ¢â¬â¢s poster managed to capture a distinctive and sensual atmosphere compared to CheererÃ¢â¬â¢s joyful atmosphere. Louise Weber, the female dancer In LatterÃ¢â¬â¢s poster, can be seen performing the provocative cancan dance, which exposes her undergarments as she kicks her legs. The audience in the background looks as if they are interacting with the dancer even if they are Just watching her. Meanwhile, the dancers in CheererÃ¢â¬â¢s poster are cheerfully dancing with their hands in the air with no audience around. Even though the figures depicted in both posters are 2-dimensional, LatterÃ¢â¬â¢s poster has more depth because of the way he places his figures through out different layers. The male dancer and the unusual yellow shape on the left dominate the foreground. The main focus of this image is the female figure placed in the center and between the foreground and background. The contrasting silhouettes behind her further highlight the focus on her. The figure in the middle of CheererÃ¢â¬â¢s poster is wearing a vibrant red dress, which easily catches the viewerÃ¢â¬â¢s eye even though two lively nagging men overlap her. The two male figures are framing the woman in the middle with their legs. The soft, textured, and plain background contrast with the red and black of the flat figures and brings them out. There Is minimal use of shading, but instead, crisp black lines outline the figures, giving the illustration a flat look. Nothing seems to have a definite structure since there is no sense of strong, angular and straight lines but instead, the lines look more organic as seen with the text and figures. This poster might look a bit symmetrical but the artist drew both men who re facing each other with slight differences to add more to the unstructured and organic feel of the Image. One of the main features of Less Gerard is how the text and illustrations can be seen interacting with one another. One figure looks like as if he is standing on the letter G while the other figure has his legs passing through the letter o. The small 3rd figure relationship can be seen between the text and illustrations in the way they were rendered. The have a long pointed form. For example, the tip Ã¢â¬Å"AÃ¢â¬ in Ã¢â¬Å"Less Gerard mimics the manÃ¢â¬â¢s foot. The text was customized by the artist hence the similarities between the illustrations and the text. Ululate uses several different fonts in his poster. In this case, LatterÃ¢â¬â¢s font does not interact with the figures in the poster and does not look like it was drawn by hand but instead is placed on top of the figures with low opacity. The other text that is dominating the top part of the poster has more bold colors and is outlined in black, which balances out the heavy image filled bottom part of the poster. Since Ululate was influenced by Cheerer, the similarities in their work. Ululate also chose to work using the same medium, lithography, which is why their work has strong bold colors. There is no doubt that both artists were influenced by the Japanese style, as it is evident in most of their work. The flat planes of color, 2-dimensional figures, and crisp black contour lines are elements from the Kikuyu-e woodblock print style. LatterÃ¢â¬â¢s composition of figures overlapping each other is also derived from the Japanese art style. On the other hand, the composition in CheererÃ¢â¬â¢s poster is almost symmetrical. This shows us that even though Ululate was influenced by Cheerer, Ululate had a better understanding of Japanese art and was able to fuse that with his own work in order to produce his own style. In conclusion, the posters may seem to be very similar in style; nevertheless, slight differences between those posters do exist and those differences showcase each artistÃ¢â¬â¢s unique touch. This demonstrates the endless cycle of an artist influencing another artist who in turn modifies and develops what he learned in order to develop his own style and that may even result in a whole new art movement. How to cite Comparative Essay between La Goulue Les Girard, Essays
Friday, December 6, 2019
The Events Leading To The Collapse Of Enron Accounting Essay Enron is an American Energy Company based in Downtown Houston, Texas which began in 1985 and prospered fast claiming grosss of about $ 101 billion in 2000, to electricity-generating workss and H2O companies, Enron added many concerns outside of the energy field, such as newspaper, broadband overseas telegram, and fiber optics. Its prestigiousness and stock monetary value soared. But by early 2001 Enron, though valued at $ 60 billion, began a prostration into bankruptcy. Its extension into unprofitable concerns and accounting patterns that disguised the true fiscal place of the company were among the grounds. It was revealed that it s reported fiscal status was sustained well by institutionalized, systematic, and creatively plannedA accounting fraud, known as the Enron dirt . The dirt besides affected the wider concern universe by doing the disintegration of theA Arthur AndersenA accounting house. The consequence is a immense corporate, fiscal, accounting, federal regulative and political dirt every bit good as a catastrophe for 1000s of Enron employees and investors. At least 10 Congressional commissions are now look intoing Enron and its accounting house, Arthur Andersen. While Enron may hold engaged in illegal concern activities for illustration, both Enron and Arthur Andersen have shredded many concern records. Reappraisal of Literature: Evidence of a thorough reappraisal of relevant literature ( a lower limit of 8 articles ) Question 1: I. Conduct your ain research on the events taking to the prostration of Enron and name the series of questionable concern trades by Enron, in peculiar, between Enron and Raptor, and between Enron and Condor. How those trades were accounted for in the fiscal statements? ( 12 Markss ) ( Around 750 words ) Organization is charged with the duty to map in an ethical manner. In the early 2000 s the largest or most good known concern failure occurred. Enron was exposed for their immoral patterns and non merely was the organisation held responsible, but the persons involved were besides. Once the 7th largest company in America, Enron was formed in 1985 when Inter North acquired Houston Natural Gas.Enron was an energy company that grew to be the jobber for energy companies that allowed them to interchange energy contracts. Their growing was really impressive and the concern expanded into other aspects including Internet services. Enron had created over 3000 particular purpose entities in between 1993 to 2001. Particular Purpose Entities ( SPEs ) are defined as entities formed for some specific intent or activity. The primary intent of making an SPE is to take assets and liabilities from the balance sheet of the patron thereby unnaturally bettering purchase, return on plus and return on equity ratios. These SPEs were besides established to maintain Enron s recognition evaluation high, which was really of import in their Fieldss of concern. Because the executives believed Enron s long-run stock values would stay high, they looked for ways to utilize the company s stock to fudge its investings in these other entities. As Enron grew, they needed to borrow more and more money. To maintain the debt off of Enron s books, they began to make spin out organisations that were used to conceal over $ 600 million in losingss that were genuinely created by Enron. By concealing their debt, Enron looked like a really successful company. Until October 22nd, 2001 when the Securities and Exchange Commission ( SEC ) announced they Enron was under probe. The first ground for the prostration of the company was that the company was leveraged through debt. The second was the autumn of the stock monetary value. This caused issues with their debts and resulted in recognition downgrades. The 3rd phase was the increased cost of borrowing due to the recognition down classs that caused liquidness issues for Enron. Throughout 2001, there were several cases that would hold drawn ruddy flags to the approaching death. Fortune Magazine ran several articles that questioned the company s debt procedure and methods of bring forthing income. In August 2001, Jeff Skilling placed his surrender from CEO. Then, in October 2001, Enron came out with losingss over $ 600 million. Ironically, that is the same sum that was being sheltered under Chewco Investments. After registering for chapter 11 bankruptcies in December 2001, the U.S. Justice section began a condemnable probe. The originative accounting patterns provided by Arthur Anderson ( AA ) can besides be included in the autumn of Enron. As their hearer, AA was an extension of the Enron organisation. In October 2001, AA destroyed about all of Enron s books. Arthur Anderson had helped Enron to organize the spin out organisations and conceal their losingss. All of these behaviours between Enron and Arthur Anderson were grounds for the autumn of Enron. Enron was exposed for their immoral patterns and non merely was the organisation held responsible, but the persons involved were excessively. There are specific organisational behaviour theories that could hold predicted Enron s failure such as the debt that was hidden under other concerns or the alterations in upper direction with no clear ground being provided. In add-on to the organisational behaviour the leading, direction, and organisational constructions contributed to the public failure of one of the largest companies in the universe. Their accounting house, Arthur Anderson, was non guiltless in the dirt whatsoever. In the terminal, leaders and directors from both organisations paid the monetary value for the muss that they had created. Not merely were the organisations held responsible, but several persons reaped the reverberations as good. This state of affairs shows the huge impact that leaders and directors have on an organisation. They can command whether an organisation acts ethically or if the organisation becomes avaricious and does whatever necessary to be profitable and viewed positively in the public oculus. Enron involved in partnership concern trade with its assorted SPEs. The trades with CALPERS, ZEDI, RAPTER, CONDERS were those trades and the accounting intervention of those minutess, were responsible for inevitable death of the Enron Company. Outline1 Deals with Bird of preies2 Deals with Condor3 Accounting intervention of the Enron s trades with Raptor and Condor4 A5 A6 Mark-to-market accounting scheme:7 Capital stock dealing8 Gross acknowledgment9 Acknowledging additions in the value of Enron s common stocks10 Accounting revelation11 A12 ( 200 words ) Deals with Bird of preies Enron had created a partnership taking to purchase and sell stocks of other companies. Enron lent the partnership $ 500 million in Enron stock to run Raptor and besides guaranteed the burden by assuring to give more stock if Raptor was unable to refund the loan. Raptor issued a note to Enron that Enron considered assets. Raptor so bought stock in companies like Avici, a shaper of high-velocity net-working equipment, and the New Power Company. Enron treated the loan to Raptor as an assets and claimed net income on the lifting value of Raptor s retentions. The dealing worked until the stocks of the companies owned by Raptors fall down. Bird of preies could non pay the loan. Enron was obliged to cover the Raptor s loan as it guaranteed for that, it had to publish more and more portions although its ain stocks were worsening. Deals with Condor Condor is another SPEs. The executives of Enron created another partnership called condor to sale and purchase the assets in the best possible monetary value. Condor was established to purchase assets from Enron. Enron had lent the partnership portions to Condor of Enron s stock. Accounting intervention of the Enron s trades with Raptor and Condor Bird of preies were non controlled by an independent party which possessed the significant hazards and wagess of ownership, so these entities were portion of Enron and should hold consolidated into Enron s ain fiscal statement. But Enron recorded all the addition or losingss including all the hedge minutess of its SPEs entities and did non consolidate it into its fiscal statements. Enron executives structured the trades so that losingss would non demo up as net incomes, but alternatively as decreases of stockholder equity that had no consequence on the income and net incomes statements. Enron recognised $ 800 million in hard currency flow from condor. In fact Enron should alternatively hold been accounted for as an issue of stock, But Enron counted it as hard currency flow. Although some inside informations are still cloudy, one thing is clear: Arthur Andersen, Enron s outside comptroller, is in large problem, and it ( or its insurance companies ) will hold to fork over large vaulting horses. Andersen s large job stems from a company called JEDI as in Star Wars that Enron now says should hold been on its books since 1997. Andersen allowed JEDI to stay off the books for old ages. The other trade, affecting a company called Raptor, caused the net-worth disappearing that set Enron on the route to destroy. JEDI stands for Joint Energy Development Investments. It was a partnership between Enron and the California state-employees pension fund, known as Calpers. The Force was with Enron, which invested the money $ 250 million each from itself and Calpers in power workss, energy stocks and such, doing more than 20 per centum a twelvemonth. Pretty neat. In late 1997, Calpers was willing to put $ 500 million in a new partnership, JEDI 2. But it wanted to first hard currency in its JEDI 1 french friess, deserving $ 383 million. Alternatively of merely neutralizing JEDI, Enron got cunning. ( I m non certain why. Enron declined to notice. ) It went looking for an foreigner to fork over $ 383 million and take Calpers s topographic point. Enter something called Chewco Investments as in Chewbacca of Star Wars celebrity. Chewco was a partnership of Enron employees and some unrevealed foreigners. ( Who they are and how much they made is a enigma, because Chewco is a private entity. ) Chewco s investors did nt hold a trim $ 383 million. So Enron Lent Chewco $ 132 million and guaranteed a $ 240 million loan that Chewco took out elsewhere. Enron was therefore at hazard for its ain JEDI interest and basically all of Chewco s. That being the instance, it s a enigma why Andersen allow Enron maintain JEDI off its books. Accounting experts who have looked at this dealing, which Enron disclosed last month, merely agitate their caputs. Andersen has refused to notice, stating it s excessively early to make decisions. Enron has restated its net incomes dating back to 1997 because it says JEDI should hold been on its books since so. Think what? The restated net incomes are far lower than the original 1s. Now, to the trades that sank Enron. As in JEDI, Enron wo nt notice. These minutess involve four companies called Raptor. It looks like the Raptors were set up to allow Enron utilize fiscal gymnastic exercises to acquire additions from stocks it owned without really selling them. The major retentions were Rhythms Net Connections, a now belly-up start-up telecom company, and NewPower Holdings, which competes with established power companies for clients. At their tallness, Enron s interest in these companies totaled approximately $ 2 billion. Friday s value: about $ 40 million. Enron wo nt state why it did nt merely sell the stock and take its net incomes. The most logical account is revenue enhancement turning away. Now, the key to Enron s undoing. The company committed to set $ 1.2 billion of Enron stock into the Raptors to do them more responsible. It did nt assure a fixed figure of portions it promised $ 1.2 billion worth, irrespective of the portion monetary value. A earnestly dense move for a company that talks about fudging hazards. In return for that committedness, the Bird of preies gave Enron $ 1.2 billion of promissory notes. Enron put them on its balance sheet as an plus. When a company adds to its assets and nil else changes, its net worth rises. Hence, Enron marked up its cyberspace worth by $ 1.2 billion. But as the stock monetary values of Rhythms, NewPower and Enron all sank, Enron faced holding to fork over a catastrophic figure of new portions. So Enron paid $ 35 million to the Raptors outside investors yet another cryptic partnership and liquidated the Raptors. That eliminated the notes, which eliminated the aforesaid $ 1.2 billion from Enron s net worth. That set off the now celebrated October tally on Enron s recognition, which finally led to bankruptcy. Now, far excessively late, Enron says it should nt hold counted the notes as assets. Animal Cruelty leads to Human EssayConsequence of this fraud Effect ( reply for this is there portion value dropA from $ 90 to merely for 10cents and they got bank crupt ) andmany more consequence s Sherron S. Watkins was frailty president of Enron. It was her responsibility to look rapter and condor SPEs ( really partnerships ) work. happening frauds in these 2 dealingsA and no opportunity of flight, she worte letters to Ley but she was threanted to disregard and leters were kept hidden.A A A company may enter additions and losingss on minutess with the SPE ; nevertheless the assets and liabilities of the SPE are non included in the company s balance sheet. Enron executives structured the trades so that losingss would non demo up as earning s losingss, but alternatively as decreases of stockholder equity that had no consequence on the income and net incomes statements. There are several constructions used by Enron for its accounting patterns. One of them was to utilize SPEs to sell A?financial assetsA? ( a debt or equity owned by Enron ) at the terminal of a fiscal accounting period in order to better their fiscal ratios and standing. The secret contracts between Enron and the SPEs gave Enron the right to purchase portions of the SPEs. This ensured Enron control of the SPEs. Mark-to-market accounting scheme: Enron had implemented the Mark-to-market accounting scheme. It is the accounting scheme that, the monetary value or value of a security is recorded on a day-to-day footing to cipher net incomes and losingss. Enron counted the projected net incomes from long-run energy contracts as current income, but it non did non reflect the true economic value. All the income was estimated as the present value of net hereafter hard currency flows. Mark to market scheme counted the future income as current income that increased the fiscal net incomes nevertheless in future old ages ; the net incomes could non be included. To maintain the concern growing and the investor s Trust over the concern, company should include extra income from its new undertaking at any manner. So Enron did it through its SPEs. Capital stock dealing The dealing of issue of portion by company should non normally be recorded an increased to stock holders equity until hard currency payment for the portion is received. Enron issued portion to its SPEs in exchange for notes receivable. That accounting intervention merely overstated the notes receivable and portion holder s equity. Enron used its ain common stock to capitalize SPEs. Gross acknowledgment Enron recognised largely from long term contracts where the value of the contract was determined based on subjective grade to market ( MTM ) scheme. It did non calculate the just value of a fiscal instrument when there was no active market for it. Furthermore Enron recognised gross originating from an addition in the value of its ain portion utilizing the equity method of accounting. Acknowledging additions in the value of Enron s common stocks Enron had had partnership with its SPEs. Enron had given partnership portions to those SPEs. One of them ZEDI held 12 million portion of Enron stock, which was carried at just market value. Increased in the menu value of those portion monetary values, Enron recorded it as income utilizing equity method. But Enron did non recorded losingss while ZEDI portions declined. That means Enron was recognizing the increasing value of its ain portions as gross but losingss were non. Accounting revelation The accounting and the fiscal revelation that Enron had made was non equal. Particularly contracts that made with its SPEs, there was no systematic Procedure that could specify about dealing made with related parties. Enron entered into a series of affecting a 3rd party LJM in June 1999, but the e consequence of the dealing was non clearly disclosed to its investors, employees and other stakeholders. Question 3: three. The overruling basic rule of accounting is that if you explain the accounting intervention to a adult male in the street, would you act upon his puting determinations? Would he sell or purchase the stock based on a thorough apprehension of the facts? If so, you best present it right and/or alter the accounting. My concern is that the footers do nt adequately explicate the minutess What is the context of this remark by Watkins? Why footers do non adequately explicate minutess? ( 6 Markss ) ( Around 350 words ) Watking who is my hero once more points out one more thing FOOT NOTES really its non easy to understand all the dealing in the accounting for all the comptrollers as good so we ever use footers to explicate how the above dealing was carried out .. but ENRON footers did non explicate anything adequatley .. which is picked by Watkins and the chief ground pes notes was non explain right . beacuse of the sham . creative activity of all the dealing which did non had any value this is what we need to explicate while replying this inquiry . 3. On the electronic mail of Watkins to Lay, she commented that the footer made on the dealing was non equal and did non give proper information to its related parties. Particularly the dealing made with SPEs ( Raptor, ZEDI ) , it was non appropriate and transparent. The footers did non explicate decently about what dealing made with those SPEs, what the consequence behind the minutess and so many other accounting and funding footings. If those footings are decently explained so, investors would cognize that the entities that Enron keeping are thinly capitalised. Furthermore they would cognize all the value in the SPEs come from the underlying value of the derived functions and Enron stock. But the footers revelations of above minutess at amalgamate statements were obscure and hard to understand. The Enron fiscal statement revelation did non state everything about the dealing that was made with its SPEs. The substance of the minutess that Enron entered into was hard to separate from the footers to the fiscal statements, and since merely the signifier of the minutess was reflected on the face of the fiscal statements, it was hard for investors and creditors to obtain a clear position of the fiscal place and consequences of operations of Enron. Question 4: Watkin s memo refers to Arthur Anderson A ; Co ( AA ) at several topographic points. How was their function as hearers of the company? Critically explain. 5 Marks ( Around 300 words ) ( Arthur Anderson A ; his company was really the hearer of the ENRON .. and he used to acquire $ 50million in a twelvemonth .. to do all the fraud studies in right order .. What Arthur Anderson did that he sacked some of his good hearers purposly .. and so these hearers were hired by ENRON .. all harmonizing to Plan so outside media does non cognize anything .. all the hearers which were now in ENRON worked harmonizing to instructions of Arthur Anderson .. and that was it . ENRON neer had a job in fiscal statements as they all were in the same boat .. this is wat we need to explicate inthis inquiry ) A Arthur Anderson A ; Co ( AA ) was non merely the hearer of Enron ; it provided confer withing services every bit good. Arthur Anderson A ; Co was paid $ 52m including A ; 27m for confer withing and remainder for scrutinizing in 2000 by Enron. Arthur Andersen became so reliant on the combined service grosss of these clients that they discredited the cardinal rules of the accounting/auditing profession. The relationship between Enron and Andersen developed so much that Enron were able to exaggerate gross by close to $ 600 million over a figure of old ages, before its prostration in December 2001. Andersen did non carry through its professional duties in connexion with its audits of Enron s fiscal statements, or its duty to convey to the attending of Enron s Board ( or the Audit and Compliance Committee ) concerns about Enron s internal contracts over the related-party minutess . On June 15, 2002, Andersen was convicted ofA obstructor of justiceA for tear uping paperss related to its audit ofA Enron, ensuing in theA Enron scandal.A Nancy TempleA ( Andersen Legal Dept. ) andA David DuncanA ( Lead Partner for the Enron history ) were cited as the responsible directors in this dirt as they had given the order to tear up relevant paperss. Critics suggest that Enron s prostration was backed up because hearer Arthur Andersen was gaining every bit much from confer withing as from scrutinizing. They believe this factor created an inducement non to dispute the energy company s fiscal statements ( Drinkard, 2002 ) . Barefoot ( 2002 ) besides agrees that the hearer s independency was compromised. However, Barefoot ( 2002 ) besides argues that the Board of Directors set aside the company s ain moralss policy in order to allow the questionable fiscal minutess. She states that legal and conformity jobs about neer originate unless senior executives have tolerated, and even created a clime in which disobedience can happen. While critics believed that a struggle of involvement was a major lending factor to the catastrophe, . So while the populace are indicating the finger of incrimination at Arthur Andersen, the experts are connoting that Enron s senior executives should hold been pointed as harshly. Decision: ( 200 words ) There are rather a figure of lessons that can be learned from Enron to forestall these dirts from go oning. First, ethical civilizations must be well-fortified so that among employees, clients, providers and investors will hold higher grades of satisfaction and trueness. Ethical motives must be looked from both moral-rights and justness positions. In organisations, this construct that includes the right of employees to reject unethical actions must be practiced. This is to guarantee that employees are ever protected in rights of privateness, picks, wellness and safety. Besides that, we must handle people impartially and reasonably, harmonizing to legal regulations and criterions. Procedural justness must besides be applied so that policies and regulations of the organisation are reasonably administered. Next, the 2nd lesson learned from Enron s failure is rigorous regulations must be enforced and imposed on companies so everything can remain in order. Certain techniques to make so include making comprehensive policies around corporate administration, inventing systems to portion informations across conformity paperss to avoid duplicate of work, such as finance sheets, set uping clear lines of duty so that both employers and employees know what is their country of duties, and doing those procedures portion of a company s civilization. These wide guidelines can assist guarantee that dirts such as Enron s would non go on once more. Besides that, lessons that can be learned form Enron s failure is to be careful on doing the right or incorrect pick, as there is ever a first knowing trip. This first trip frequently involves a little evildoing, but none are more of import ; because this little via media or minimum evildoing will about ever lead to worse behavior. Once you step over the line, it is hard to travel back to the right class. In Enron, because a director made a bad determination, so he tries to cover it up. In fact, he should seek to work out that job critically, whether it is revenue enhancement frauds or corporate discourtesies, otherwise, after the first trip, it ever gets easier and easier to go on these misconduct. Finally, the lessons that can be learned form Enron s failure is learn to be satisfied with what you have lawfully earned, as greed is a barbarous frailty that can destruct you. If you judge success in life by what you can roll up, you will neer be to the full content, as person will ever hold more, your kids or others will ever desire more from you, and hence, you will neer hold plenty. It is in the human nature to be avaricious, but non until you have to take illegal actions to gain it. See this illustration, directors in Enron such as Jeffrey Skilling wanted to do more money and at the terminal, they received their penalties. Skilling was sentenced to 24 old ages in prison in October 23, 2006. In decision, we must make everything in all cost to forestall from these things to go on once more, so that there will be no unethical direction to be practiced once more.