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Enron’s Stakeholder Impact Case Analysis - Term Paper

Enron then began using an accounting scandal known as mark-to-market accounting which allowed Enron to predict potential profits right after contracts were signed.

Corporate Leaders from major companies such as Enron were caught up in scandal’s ranging from fraud, conspiracy, grand larceny to obstruction of justice” (Cross, 2011, p.

The first case study I will be looking at is the Enron accounting scandal.

Enron Stakeholders - Research Paper - Yan

What happened at Enron was due primarily to the ethical climate in business at the time; however, accounting frauds such as Enron are not new.

Skilling, had come up with operations that raised the company’s revenue, and the stakeholders were happy about it. Skilling supported a business strategy that advocated for trading and wholesale management services as opposed to plant production (Forbes, 2002). According to Currall and Epstein (198), they say that trust is earned over time and out of past record. They say that in the case of Enron, “Although Enron was adept at manufacturing trust among the investor community, the dynamic between Enron and Wall Street was complex, because many financial analysts wanted to trust that Enron could deliver superior returns on its stock,” (Currall and Epstein 201). The analysts embraced the fact that Enron was growing, and they ignored other facts out of trust from previous performance. All the stakeholders trusted the executives of the company.

Enron’s management was surrounded by people who were willing to do anything in their power to earn more without a care for the investors and the employees who worked so hard to make the company what it was. Neither were they concerned about the welfare of the investors and shareholders, whose interests and wealth they were supposed protect and realize the best value. Concealing losses, which were huge and yet continued to incur more expenses and pocketed huge remunerations and benefits to themselves was a clear illustration of macho character that they all embraced. They used crude means of achieving more profits for the company irrespective of the harm it caused the people and all the stakeholders.

Business Scandal Enron Essays - Enron Stakeholders My Account

The American people lived through a scandal that rock our nation economic with companies like Enron and WorldCom to include other, as being responsible for their employee disregarding corporate integrity by their CEOs and greeted executive’s decisions....

The Enron Scandal: An Ethical Analysis | The Business …

Jeffrey Skilling developed a staff of executives that, that entertained the use of accounting dodges, special purpose entities (SPE), and poor financial reporting, to enable them to hide billions in debt from failed deals and projects. Chief Financial Officer Andrew Fastow with the other executives not only mislead Enron’s board of directors and audit committee on high-risk accounting practices, but also pressured Andersen, who was the external auditor to overlook the error in the reporting of the financial statements. Through this schemes set by the executives, Enron was in a position to give force information about its profits, it also got in a position to cover up for debts so that they did not show in statements. Later, the as the scandal started to unfold, the creditors and investors withdrew and the company was forced to file for bankruptcy in December 2001.

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Ethical Issues of the Enron Case … | Term Paper

Ethical Issues of the Enron Case … Term Paper

The admission of the biggest corporate scandal in India’s history has drawn swift comparisons with Enron, which quickly went from being one of the United States’ most admired companies to a ward of the bankruptcy court after accounting fraud came to light....

Enron: The Smartest Guys in … | Term Paper

Enron’s huge losses were concealed from stockholders by the executives of the company and the auditing firm, but it unfolded when a proposed merger with Dynegy Inc failed. The company had ranked number seven in the United States in the fortune 500. Its desire to keep a good reputation in the stock market drove the executives to do all they could to conceal information from stakeholders, using special purpose entities, and the auditor who did not disclose. It is good to note that other outsiders were involved in the scandal, such as Karl Rove, a political adviser, who was involved in the meetings of energy administration policies, and at the same time, he held stocks in energy companies, Enron being one of them.

Enron: The Smartest Guys in … Term Paper

While much of the controversy surrounding the Enron scandal focused on the losses of investors, unethical practices of executives and questionable accounting tactics, there were many others within close proximity to the turmoil.

Key Stakeholders ; Enron Scandal ;

The Enron scandal is the most significant corporate collapse in the United States and it demonstrates the need for significant reforms in accounting and corporate governance in the United States.

Audit Term Paper - Case Study of Enron ..

The paper will argue that Enron was not being socially responsible to all of its stakeholders because it deceived employees and investors about its real financial status despite having stated in its company code of ethics that transparency, integrity, and respect for the law would be the cornerstones of its daily operations....

Read this essay on Enron’s Stakeholder Impact Case Analysis

It is also a call for a close look at the ethical quality of the culture of business generally and of business corporations (Lessons from the Enron Scandal)....

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Today, fraud schemes are more sophisticated than ever, and through studying: Enron, LIBOR, Albert Wiggan and Chase National Bank, Lehman Brothers and Madoff, we find how the culprits started there deception, the aftermath of the scandal and what our country has done to prevent future scandals....

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