Generational accounting

Food manufacturing facilities are high profit businesses all over the country. Each region of the country has a specialty; the north has cheese and dairy, the south has fruits, and the center region has meats. Living in the Midwest, the most common food facilities produce, meats, soy and pizza toppings, the best examples are Tyson and Hormel Foods. That is what my business does we manufacture the best kind of food; brownies. Brownies sell all over the country in grocery stores and markets as…

Enron Case Introduction After watching the video “Enron: The Smartest Guys in the Room”, (Youtube), several issues came into light. It is known that Enron has been the seventh largest company to declare the bankruptcy in the year 2001. The reasons of their bankruptcy were becoming clear as many investors lost millions of dollars, due to which the lawmakers sought to enact some legislation so that these activities could be prevented. Obviously the smartest people from Enron had entered various…

Throughout my accounting studies so far, whistleblowers have been praised for their heroic actions that lead to the collapse of a giant corporation. However, the heroic actions and collapse are the seldom times that whistleblower protection laws work. In C. Fred Alford’s book: Whistleblowers: Broken Lives and Organizational Power, Mr. Alford explores the corporation and systems irrational behavior that makes whistleblowers lose faith in humanity and the justice system. Throughout the book, Mr.…

Prize and the Booty - Case Study On the 25 February, 1603 Jacob van Heemskerck and his crew attacked the Santa Catarina, a merchant ship from Portugal which carried a very highly priced cargo of trade goods. The total price was more than three million guilders. This created discussion about the legitimacy of the attack on the Portuguese merchant ship. In order to justify Jacob van Heemskercks actions, Grotius’ literary works have to be taken into consideration as he addressed different laws…

Introduction The key tenant of choosing a specific firm for analysis, is one having the history of outsourcing their Information Technology (IT), to a third party, only to regret the decision, and return, or back source, the IT service. An excellent example being the current largest bank in the United States; JP Morgan Chase. In 2004 JP Morgan Chase cancelled the remainder of a seven year, $5 billion IT contract with IBM. When the outsourcing deal was done in 2001, it was heralded as the…

Pablo Escobar was the quintessential druglord. It is estimated that at the height of his career - if you can call it that - Escobar brought in $420 million a week through drug trafficking and other illegal and morally questionable activities. Escobar achieved such great wealth through his dealings that it is said he lost $2.1 billion (you read that right) every year and didn’t even feel it. The Search Bloc finally captured and killed Escobar on December 2nd, 1993, well over 20 years ago.…

Hizmete Özel / Confidential Hizmete Özel / Confidential MGMT 512: Corporate Governance Sultan Orman: 0055134 Corporate Failure: Toshiba Accounting Scandal (2015) Summary of the Case: Everything began with the results of an independent report created by a committee of people consisting of independent accountants and lawyers in July 2015. The CEO of one of the leading companies in electronics and technology sector, Toshiba from Japan, announced that he is resigning of his…

Prudential The time when the protagonist Arthur Ryan was brought in as CEO, Prudential was charged with the largest investor fraud in US history. Prudential had defrauded investors of close to $8 billion and eventually had to shell out $371 million as settlements and fines. The most common solution to overcome the economic condition is layoffs. The critical time in highly competitive market leads Arthur Ryan to downsizing environment (p.1). Management decision in downsizing creates gap between…

After kenneth worked there after while he got sent to prison for selling large amounts of Enron stock in september and october of 2001. Security new that something was going on and that he was up to something. Then they eventually went through his accounting book and found out that he had been selling the stock, that's how they found out it was kenneth selling the stock and not someone else that worked there. Lay…

Behind closed door deals, bribes, scandal, trades, mass corporations, sounds like the next top crime show, but this is no show. This is the Oil Reserves Scandal also known as the Teapot Dome Scandal. The Teapot Dome Scandal took place in the early 1920s. It was the secret leasing of federal oils by the Secretary of Interior, Albert Fall. After President Harding switched the oil reserve lands from the Navy to the Department of Interior in 1921, Albert Fall secretly gave Harry F. Sinclair from…