Enron scandal

In 2006 a civil action was filed against Virbac Corporation (VBAC), manufacturer and distributor of animal health products, for fraudulently inflating revenues and deferring expenses from year 2000 to 2003. They were charged with violating anti-fraud provisions of the Securities and Exchange Act and ‘aiding and abetting the reporting, record keeping and internal controls provisions of the Exchange Act.’ Between 1999 and 2002 their revenues increased from $44 million to $64 million primarily…

Bernard Madoff took notes from the Ponzi scheme originator, Charles Ponzi, by creating an investment Ponzi scheme. At the start of his career, Madoff was a broker who legally purchased and sold non-listed stocks on the New York Stock Exchange, soon he and his brother developed a technology that aided them in the competitive investment industry. Madoff’s Ponzi scheme was a continuous process of acquiring new investors’ funds, to pay the old investors’ promised 10-15% return on investments; all…

Abstract: A truck scale fraud occurred in Pratt Recycling recently. There was collusion between the scale operator and several peddlers. The operator overstated the net weight information on the weight tickets and would create fictitious weight tickets when no weighing had taken place. Pratt started to require more documentation from peddlers and updated an automated scale system. Moreover, Pratt strengthened its monitoring process and adopted other internal control methods. Also, Pratt…

1) What evidence is the CEO using to suggest that Genex is not using technology competitively? The CEO at Genex express the need for the business has to "start behaving like we're one business." Respectively, he is expressing his concern that at the time the organization is subdivided into three different business segments, all employing a distinct conciliation of functional divisions. Furthermore, each one had its independent IT director. 2) Did Devlin need to hire Sandy, a "high-priced…

The release date for Like Mike the movie was released on July 3rd, 2002. Like Mike made a humungous profit, when it came down to their budget and the number of ticket sales they made. Their budget was $30,000,000 and the number of ticket sales or box office, was $51,432,760 rounding out to about an eleven million dollar profit. The production company that produced the film "Like Mike," was 20th Century Fox, which is known for some of the best movies. The main actors in "Like Mike," were Bow Wow,…

In 2010, SEC Deputy Chief Accountant Paul Beswick introduced yet another possibility for convergence by stating that, although he had not made a final decision regarding the movement toward IFRS, he believed that the United States should not follow “the convergence or endorsement approach.” Rather, it should adopt a modified approach that he labeled “condorsement.” Under condorsement, U.S. GAAP would continue to exist, and the IASB and FASB would continue their convergence projects. In addition,…

Secret service agent Before Jason Bourne,before Jack Ryan ,there was Bond, James Bond , the original two dimensional ,world saving secret agent .Ever wondered who protected your money and stops numerous frauds the Secret Service.The career of being a secret service is compelling because of the multitude of jobs and opportunities.The secret service performs more task than just protecting the president.They are america's private secure banker because they protect america's currency. The research…

The situation discussed is that the company had apparently hidden the defects in their CCTV equipments from another company, Amitech, which happened to be MR Tech's prominent customer. Suyash was approached by Ankita Kukreja and was notified that Amitech was sold defective equipments. Suyash then discussed the findings with his boss and it was decided to let things go since it was in the past. This angered Ankita who then contacted the customer and shared her findings with them, which led to a…

CASE WRITE UP: “Bluestar`s Acquisition of Adisseo (A)” Prepared by: Emilio Ramirez Zuñiga 000126489, September 2015 INTRODUCTION In 2006 after 6 years of long talks and courtesies. Bluestar the largest subsidiary of ChemChina, a leading position company in china in industrial cleaning products, membrane, and water treatment products, had just achieve to acquire Adisseo, a French company which was the first one to synthesize methionine. PROBLEM STATEMENT After the negotiation was settling and…

“The Blaming and Belittling Behavior of Today's So-Called Leaders” I have selected “The Blaming and Belittling Behavior of Today's So-Called Leaders” by Sally Blount on Forbes as my study article. It relates well with the goal of this course on how to get work done with and through other people. For instance, without leaders the organization would be rudderless, a ship headed for nowhere, letting itself be drifted away by the waves. Leaders make decisions on behalf of the organization,…