Essays on Enron

Systemic Corporate and Individual Issues with Enron
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This case discusses the story of Enron, the infamous American energy company that December 2, 2001 filed the largest bankruptcy case in US history, totaling losses around 66 billion US dollars, forcing 4,000 unemployed, and bringing down Arthur Andersen,  its auditing company. For many of the “bad” and publicly convicted Enron executives it has been the worst nightmare come true, a personal travesty. Cliff Baxter, an Enron executive, has committed suicide and Ken Lay, after being found guilty of conspiracy…...
Enron Corporation Overview
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Enron that huge company that disappeared and went bankrupt more than 10 years ago, it has made a big impact on the ethical standards which never faded through the time till now. It took Enron 16years to go from 10 Billion US Dollar assets to 56 Billion US Dollar assets, and took exactly 24 days to go bankrupt.Back in the day Enron was once ranked the 7-th largest company on the list of fortune 500 magazine and was ranked the…...
Business Risks of Enron
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Enron faces the risk of currency instability and foreign currency risk. The business nature of Enron has led the company to be exposed to additional risks that caused pressure on corporate executives to practice aggressive financial reporting practices, and intentional material misstatement. This risk awareness eventually resulted in the company bankruptcy. Enron undertook international projects relating to construction and management of energy capacity. This increased it business risk several fold. There was a strong possibility that Enron would not have…...
AccountingAuditBusinessEnronInternal ControlStock
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Case enron
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Enron faces most of the risk ordinarily faced by any energy company, including price instability and foreign currency risks. Enron operated in many different areas of the world with different regulatory and political risks. Enron faced business risks such as a complex business model, extensive use of derivatives and special purpose entities, aggressive transaction structuring and accounting, rapid expansion of business through complex and unconventional ventures, extensive reliance on credit rating, and limitations in GAAP. The complex nature of the…...
Enron’s Collapse
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In the case of Enron's collapse, many would blame the external auditor's collusion with the management, the aggressive accounting policy it had adopted to manipulate its earnings or the Special Purpose Entity (SPE) it had created as a sham to conceal its debts. However, everything began from an internal environment with weak controls. The internal environment is the capstone of all other components within an organization's ERM framework, influencing strategy formulation, objective setting, as well as risk management. The internal…...
Enron, the Most Tricky Guys in the Room
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Enron was one of the biggest scandal of all time in the stock market. The three main guys leading the pack was Ken Lay, Jeffrey Skilling, and Andy Fastow. The company was not making profit so they decided to do "future value accounting". This was shown to shareholders so they can spend money and invest in Enron. The future value accounting just shows a list of future profit that was predicted. What actually happened? Why it can happen again? What…...
Jeffrey Skilling
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In 1975 Jeffrey Skilling received his B. S. from Southern Methodist University in applied science, and in 1979 received his M. B. A. from Harvard. He was hired by McKinsey & Company as a consultant and in 1987 began working with Enron to help create a forward market in natural gas (wikipedia. org). Ken Lay hired Skilling in 1990 as chairman and chief executive officer of Enron Finance Corp. and in 1991 he became the Chairman of Enron Gas Services…...
Enron and Worldcom Scandals
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1. Which segment of its operations got Enron into difficulties? The guaranteed loans that were intended to bridge the financing for investments from outside investors that could not be found would be the segment of operations that caused Enron difficulties. 2. Did Enron’s directors understand how profits were being made in this segment? Why or why not? Enron’s directors did not understand how profits were being made in this segment because they were kept out of the loop of everything…...
Enron: Smartest Guy in the Room
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Enron: The Smartest Guys in the Room is a documentary that was produced in 2005 as a reflection of the 2003, bestselling book with the same name. The documentary was written by Bethany Mclean and Peter Elkind. The film, produced by Alex Gibney is an explicit demonstration of how reputable corporations can tumble down because of illicit financial management. The film is about the Enron Company, which experienced enormous financial drains because of the scandals elicited by its top managerial…...
The failure of Enron
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1) What were the individual factors that contributed to the failure of Enron? Briefly explain two key factors. Enron collapsed in large part because of the unethical practices of its executives. Egoism (Self interest) was one of the major factors contributed to the failure of Enron. Enron’s executives put their own interests above those of their employees, company and the public, and failed to exercise proper oversight or shoulder responsibility for ethical failings. They allowed themselves to be motivated much…...
External Causes for Enron to Collapse
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 Deregulation Deregulation of the U.S. energy industry made possible Enron's emergence as a major corporation, but also ultimately may have contributed to its collapse. The company successfully seized the opportunity created by deregulation to create a new business as a market maker in natural gas and other commodities. Enron successfully influenced policymakers to exempt the company from various regulatory rules, for example in the field of energy derivatives. This allowed Enron to enter various trading markets with virtually no government…...
Enron Scandal
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Enron shocked the world from being “America’s most innovative company” to America's biggest corporate bankruptcy at its time. At its peak, Enron was America's seventh largest corporation.From the 1990's until the fall of 2001, Enron was famous throughout the business world and was known as an innovator, technology powerhouse, and a corporation with no fear. The sudden fall of Enron in the end of 2001 shattered not just the business world but also the lives of their employees. Enron gave…...
BusinessEnronStar Wars
The case study of enron
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Introduction Reputational risk is damage to the value of a company's brand name caused by negative public opinion. It can happen for a number of reasons such as directors maximize self interest which have a debilitating effect on shareholder wealth and value of the company (Wise Geek). Large companies always have a strong concern on establishing and maintaining its good name. Hundreds of millions of dollars have spent on "image advertising". When a company got a positive reputation, it may…...
Case StudyEnronFinanceReputationRisk
?Enron: The Smartest Guys in the Room
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The Enron scandal, revealed in October 2001, eventually led to the bankruptcy of the Enron Corporation, an American energy company based in Houston, Texas, and the de facto dissolution of Arthur Andersen, which was one of the five largest audit and accountancy partnerships in the world. In addition to being the largest bankruptcy reorganization in American history at that time, Enron was attributed as the biggest audit failure. Enron was formed in 1985 by Kenneth Lay after merging Houston Natural…...
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