The story of Enron Corporation depicts a company that reached dramatic heights only to face a dizzying fall. The fated company's collapse affected thousands of employees and shook Wall Street to its core. At Enron's peak, its shares were worth $90.75; when the firm declared bankruptcy on December 2, 2001, they were trading at $0.26. To this day, many wonder how such a powerful business, at the time one of the largest companies in the United States, disintegrated almost overnight. Also difficult to fathom is how its leadership managed to fool regulators for so long with fake holdings and off-the-books accounting.
World's biggest financial scam. This presentation would give you all the information about the people who are engaged in the scam and they manipulated their data from balance sheet. How culprits were sent behind bars and what were the changes in Law that were done after this scam. For more understanding of case i will recommend to see the movie
" Enron- The smartest guy in the room"(2005)
World's biggest financial scam. This presentation would give you all the information about the people who are engaged in the scam and they manipulated their data from balance sheet. How culprits were sent behind bars and what were the changes in Law that were done after this scam. For more understanding of case i will recommend to see the movie
" Enron- The smartest guy in the room"(2005)
This presentation gives a detailed description about the one of the biggest frauds in the world, i.e, Enron Scandal. It tells you about the Enron Corporation and its rise. It also depicts the causes of downfall of Enron.
Business Ethics case study on spectacular rise and fall of Enron. Enron Corporation was an American energy, commodities, and services company based in Houston, Texas.
The Enron scandal (Accounting Fraud), publicized in October 2001, eventually led to the bankruptcy of the Enron Corporation
Presentation on Enron Corporation Scandal.
The Presentation consists of Introduction, Rise, Fall, Impact, Methods of Accounting, Auditing Errors, Conviction, Changes after the Enron Scandal.
This presentation gives a detailed description about the one of the biggest frauds in the world, i.e, Enron Scandal. It tells you about the Enron Corporation and its rise. It also depicts the causes of downfall of Enron.
Business Ethics case study on spectacular rise and fall of Enron. Enron Corporation was an American energy, commodities, and services company based in Houston, Texas.
The Enron scandal (Accounting Fraud), publicized in October 2001, eventually led to the bankruptcy of the Enron Corporation
Presentation on Enron Corporation Scandal.
The Presentation consists of Introduction, Rise, Fall, Impact, Methods of Accounting, Auditing Errors, Conviction, Changes after the Enron Scandal.
Enron Scandal from Auditor's Perspective (F-310) Pantho Sarker
This presentation is basically on the Enron's scandal. Here the maximum focus is given to auditor's role in this fraud. Moreover, the management's role is also highlighted.
Enron Corporation was an American energy, commodities, and services giant. In this case study, we have tried to analyse the major reasons behind the collapse of Enron and the aftermath of this scandal
Enron Scandal " A Fundamental Case Study" Emran Hosain
Enron Corporation was an American energy, commodities, and services company based in Houston, Texas. It was founded in 1985 as a merger between Houston Natural Gas and InterNorth. Enron employed approximately 30,000 staff and was a major electricity, natural gas, communications and pulp and paper company, with claimed revenues of nearly $101 billion during 2000.
Fortune named Enron "America's Most Innovative Company" for six consecutive years.
At the end of 2001, it was revealed that its reported financial condition was sustained substantially by institutionalized, systematic, and creatively planned accounting fraud, known as the "Enron scandal".
Ltc pp bus415_wk5 Copyright 2013 Edward F. T. Charfauros. Reference, www.Your...Edward F. T. Charfauros
Edward F. T. Charfauros, inspiring author, assists fellow students with their presentation for a successful grade. He also blogs upon his own inspiring blog, where you'll discover life changing stuff. Sign up for his blog by sending him an email~
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Life of Steve Jobs most successful entrepreneur Abdus Samad Sadi
Steve Jobs is CEO of Apple. He is the most successful marketer in the world. Iphone is the most powerful innovation of him. He is one of the best leader in the world.
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Memorandum Of Association Constitution of Company.pptseri bangash
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A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
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Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
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Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
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Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
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It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
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Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
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A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
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"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
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Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
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"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
2. Introduction to the Business
• Enron was an American energy, commodities, and services company.
• Formed in 1985
• A merger between Houston Natural Gas Company and Inter North Incorporated
CEO was Kenneth Lay
• Auditor was Arthur Anderson
3. What Happened and the story of the scandal
• Story of world largest accounting scandal
• This is a story how a company grow 60 billion dollar within 10 years and
bankrupt within a month
• The price of Enron’s shares went from $90.75 at their peak to $0.26 at
bankruptcy
• 20,000 employee get unemployed
• 1 Suicide
• Shareholder are lose money
5. The fall of a wall street
⊸ Debt-2million dollar per day
⊸ Stock- Less than 1 dollar.
6. Main players
⊸ Kenneth Lay (CEO)
⊸ Jeffrey Skilling
⊸ Andraw Fastow ( CFO, 3rd main player).
⊸ David Duncan (Chief accountant).
⊸ Auditor ( Arthur Anderson).
7. Policies Used
⊸ Wrong accounting system.
⊸ Overestimate profit.
⊸ Debt remain hidden.
⊸ Losses on the stock.
⊸ SPE( Special purpose entities).
⊸ Mark to market.
8. Enron Effect-
⊸ On common people.
⊸ Government.
⊸ Shareholders and investors.
⊸ Employees. ( Cliff Baxter- Suicide by gun shoot).
12. How The Scandal Got Out
Some highlight of scandals are :
1. $30 million of self dealings by the chief financial officer.
2. $700 million of net earnings disappeared.
3. $1.2 Billion of Equity shareholders disappeared.
4. Over $4 billions hidden liabilities .
13. How The Scandal Got Out(Con.)
⊸ Key Players of scandals :
⊸ Kenneth lay
⊸ Jeffrey skilling
⊸ Andrew Fastow
⊸ David Duncan
⊸ Enron’s Accounting firm-Arthur Andersen
15. Penalties & Consequences
Impact on employees
Thousands of employees lost their jobs as well as their requirement savings
with the company.
The pension fund for the employees was obliterated.
After bankruptcy, Enron fired 5000 workers, one quarter of its 21000
employees.
Laid off workers received $4500 severance payment.
16. Penalties & Consequences
Impact on shareholders
Enron share holders received limited returns in law suits despite losing billions in
stock exchange.
Impact on competitors
On November 9,2001, rival energy trader Dynegy Inc. decided to purchase the company
for $8 billion in stock.
17. Pre scandal business situation
1.Enron received $10 million in guarantee fee based on loan balance to JEDI.
2.Enron received a total of $25.7 mil revenues from this source.
3.In first quarter of 2000, the increase in price of Enron stock held by JEDI resulted in $126
million in profits to Enron.
18. Post scandal business situation
1.But everything fell apart when Enron’s share price started to drop in Fall 2000 (dot.com bubble burst ).
2.In November 2001, Enron admitted to the SEC that Chewco was not truly independent of Enron
3.Chewco went bankrupt shortly after this admission by Enron.
4.The Enron scandal, revealed in October 2001, eventually led to the bankruptcy of the Enron Corporation.
5.On October 16, 2001 Lay announced losses of $618 billion.
19. Post scandal business situation (Cont.)
6.On November 2001 it admitted accounting errors, inflating income by $586 million.
7.It start losing 2 billion in a week.
8.It stock price dropped to 61 cents.
9.It had to payback $690 million in 2 weeks.
10.It was delisted from New York Stock Exchange.
20. Impact on Accounting and related practices
1.Auditing companies often consult for the companies they audit (conflict of interest).
2.Audit company partners often later accept jobs from their client companies
3.Companies often retain the same auditing company for long periods of time.
4.Auditing companies have been allowed to police themselves.
5.Appointment of auditor company is in theory by shareholders but in practice by senior
management
21. Impact on Accounting and related practices (Cont.)
6.Audit Committee members often are not independent of senior management insiders are the ones with the most
accurate understanding.
7.Audit Committee members have typically been required to own company stock to align their incentives with those of
company
8.Enron had used hundreds of special purpose entities to hide its debt Enron used a number of special purpose
entities, fraudulently misrepresent 9.Enron's financial condition in public reports.