Free Essays on Enron

The article on Enron states that there was not one main reason why Enron fell; however it was a corporate culture of deception that lead to the demise of this company. Enron had many loans on their books that they disguised as assets to make them look stronger and more profitable. They worked backwards by figuring out what they wanted their company to look like financially, and then made changes in the books to make it appeal to them. Since the authorities were not using checks and balances to make sure fraud was not taking place, it would have been easy for Enron to make it look like particular divisions were doing worse then they actually were, so they did not have to pay their employees as much. It was also easy for Enron to lie to their accountants because they did not check what the managers told them was truth. The auditors did not check the accountant’s books for mistakes either. There were so many mistakes in so many different areas of this company that its hard t o pinpoint one thing. The article on the Sarbanes-Oxley Act summarizes the new legislation that has been put into place to help guard against another financial disaster, such as Enron and WorldCom. Under this law, attorneys are responsible to report any illegal acts to a board of directors. If the board of directors that the attorney reports to does not pass on this information to proper authority, they will be forced to resign. When the SAS 99 became effective, it profoundly changed the relationship between businesses and auditors because if the CPA does not follow the SAS 99 rules and it comes to the attention of the AICPA, they will lose their CPA and be prosecuted. The SAS 99 coupled with the Sarbanes-Oxley Act should do a great deal to safeguard against scandals in the business world.... Free Essays on Enron Free Essays on Enron The article on Enron states that there was not one main reason why Enron fell; however it was a corporate culture of deception that lead to the demise of this company. Enron had many loans on their books that they disguised as assets to make them look stronger and more profitable. They worked backwards by figuring out what they wanted their company to look like financially, and then made changes in the books to make it appeal to them. Since the authorities were not using checks and balances to make sure fraud was not taking place, it would have been easy for Enron to make it look like particular divisions were doing worse then they actually were, so they did not have to pay their employees as much. It was also easy for Enron to lie to their accountants because they did not check what the managers told them was truth. The auditors did not check the accountant’s books for mistakes either. There were so many mistakes in so many different areas of this company that its hard t o pinpoint one thing. The article on the Sarbanes-Oxley Act summarizes the new legislation that has been put into place to help guard against another financial disaster, such as Enron and WorldCom. Under this law, attorneys are responsible to report any illegal acts to a board of directors. If the board of directors that the attorney reports to does not pass on this information to proper authority, they will be forced to resign. When the SAS 99 became effective, it profoundly changed the relationship between businesses and auditors because if the CPA does not follow the SAS 99 rules and it comes to the attention of the AICPA, they will lose their CPA and be prosecuted. The SAS 99 coupled with the Sarbanes-Oxley Act should do a great deal to safeguard against scandals in the business world.... Free Essays on Enron Enron a Post Mortem - Enron was heralded as America’s most innovative company for five years by Fortune magazine. What happened? What lead to Enron’s demise? The collapse of Enron is one of the century ’ s most infamous, with reverberations being felt around the world. Craig Donaldson speaks with Enron ’ s interim CEO Stephen Cooper about his approach to people management in the midst of this most extraordinary of working circumstances Enron was one of America’s leading companies prior to its spectacular collapse in 2001. It was frequently named as one of America’s top 10 most admired corporations and best places to work, and its board was acclaimed one of the US’ best five, according to Fortune magazine. As America’s seventh largest company, Enron experienced explosive growth through the 1990s. It had revenues of US$139 ($184) billion, US$62 ($82) billion in assets and employed more than 30,000 people across 20 countries. While Enron was considered a phenomenon in its heyday, a highly decentralised decision-making and financial control structure made it virtually impossible to get a clear and coherent understanding of the corporation, according to interim CEO and chief restructuring officer, Stephen Cooper. â€Å"In the space of 30 days, Enron went from American icon to Chapter 11,† he says. The collapse brought an enormous amount of outrage from the company’s stakeholders, while the scale and complexity of Enron’s bankruptcy has resulted in 12 separate investigations by the US Congress.... Free Essays on Enron THE COLLAPSE OF ENRON In early, 2001, Enron Corporation was named most innovative company in America for the sixth year in a row by Fortune Magazine. Soon enough things had turned and by December 2001, Enron filed for bankruptcy. Enron was the premiere trading company of the world, listed as the world’s greatest energy company and now in 2001 suffered the worst business failure in U.S. history. The U. S. was devastated by this and it really hurt all of the employees within Enron. Thousands of employees lost their jobs, savings, 401 (K) retirements plans virtually overnight. One retiree was reported to have lost $1.3 billion in savings and shareholders investors lost nearly $70 billion in market value. No one had even the slightest clue that any of this was going to happen, just like that they were out of there jobs with no money. People with families and children had nothing anymore, it was a travesty. The employees who had invested so much of their stock and savings in Enron’s plans suffered the most form this sudden downfall. They had nothing left to show for all of the hard work that had put into the company for so many years. The were so strong a year earlier in 200, employees were up to 19,000 people they even made $100 billion in revenues a year. Their plan was simply â€Å"becoming the world’s greatest company† which was stated by the current CEO and CEO at Enron, Kenneth Lay. When Kenneth states this I don’t think he puts an ethical review on this, considering the fact that he let go of so many people’s jobs and all of their money. He would do anything to get this company to the top, even if it was cheating, stealing, manipulating people. He is a very greedy person and put himself before his employees and the rest of the company. From my point of view that is ridiculous but that’s the kind of people we have in our world today, as long as they are living a good life they aren’t worry about ot... Free Essays on Enron Kenneth Lay, the ex-CEO of Enron took a small natural gas company, and created a financial powerhouse. In just a little over 15 years, Enron grew into one of the US’s largest companies. It embraced new technologies, established new methods of trading in energy and seemed to be a shining example of successful corporate America. Kenneth Lay himself was awarded a place in the Texas Business Hall of Fame for his achievement of bringing the small company to where it stood. Many surveys showed Kenneth Lay as one of the top managers for the nation. His background of academic and government positions helped back his position as a dedicated leader. Disaster then struck the companies success was all smoke and mirrors created by artificially inflated profits, dubious accounting practices, and fraud. The company unraveled and came crashing down, resulting in thousands of people loosing their jobs and life savings that they invested in to the company. Enron was born in July of 1985 with a merger of Houston Natural and Omaha-based InterNorth. Kenneth Lay was elected as the chairman and chief executive of the company. Around the same time Washington began to lift the controls over who produced energy and how it was distributed. Kenneth Lay saw a chance to make the small company thrive and seized it. Enron guaranteed its customers stable prices during the energy regulation changes. The response to the stable energy prices that Enron was offering was huge. Everyone wanted future gas at the fixed prices of today. In a few years Enron was responsible for over one fourth of the gas business for the United States. Kenneth Lay then decided that it would be profitable to expand its business into other fields by trading other commodities such as coal and steel. Early in the year 2000 Enron was peaking its economic success and began to invest into broadband Internet networks seeing the dot.com economy expand with profits. The company boa... Free Essays on Enron Enron Corp. is one of the world's largest energy, commodities and services company. Before its Chapter 11 bankruptcy filing, it marketed electricity and natural gas, delivered energy and other physical commodities, and provided financial and risk management services to customers worldwide. Based in Houston, Texas, Enron was formed in July 1985 by the merger of Houston Natural Gas and InterNorth of Omaha, Nebraska. Initially a natural gas pipeline company, Enron rapidly evolved from delivering energy to brokering energy futures as energy markets were deregulated. The company began marketing electricity in 1994 and entered the European energy market in 1995. In 1999, Enron launched a plan to buy and sell access to high-speed Internet bandwidth, and it launched EnronOnline, a Web-based commodity trading site, making it an e-commerce company. The company reported revenues of $101 billion in 2000. It has stakes in nearly 30,000 miles of gas pipeline, owns or has access to a 15,000-mile fiber optic network, and has a stake in electricity generating operations around the world. Aftershocks in Europe Enron's collapse will hit many markets. Enron is the largest bankruptcy in United States history, and cost thousands of people their retirement and jobs. They used different accounting tricks to deceive their employees and the public on how good their financial situation really was. How could such a giant, thriving company go from worth around $60 billion dollars to bankruptcy in such a short period of time with no major warning signs? What could allow such a huge financial scandal to take place? How will the Enron scandal affect the current business world and the way that businesses are run in the future? These are all questions that are currently trying to be explained. The story of Enron is still constantly unwinding more and more everyday. The small Houston based company that was started in 1985 when Houston Natural Gas combi...

Calculating Questions on ACT Science Interpolating and Extrapolating From Data

Calculating Questions on ACT Science Interpolating and Extrapolating From Data SAT / ACT Prep Online Guides and Tips In these questions, math meets science. You might be thinking, â€Å"Wait, but the ACT Science section doesn’t let you use your calculator!†This is true! And this means the ACT Science questions that require calculations will only require very simple math that you can do by hand or in your head. Calculation questions require you to find a specific value based on the figures provided. However, the value will not be shown in the figure.Using the information you are given, you will need to predict what would happen past the edges of the graph or between values on a table.In this article, I'm going to cover interpolations and extrapolations, along with tips and realistic ACT Science practice questions. Interpolations The word itself seems complicated, but it simply means calculations of numbers between known data points (which are provided in the visuals).Let’s check out this ACT Science practice question: Start by trying to locate the relevant data (aka the data mentioned in the question, the average change in AGTB at 75 m from the nearest clearing) in this scatterplot: After examining the scatterplot, I see there are points marked at 70 and 80 m from the center of the plot to the nearest clearing, but not at 75 m, this gap in data is what makes this an interpolation question! You have the data that surround the point, but you need to figure out what the point is. What mathematical calculation could you do (using the data you do have) to find the approximate average change in AGTB at 75 m from the center of the plot to the nearest clearing?Perhaps, averaging the average change in AGTB for 70 m and 80 m from the center of the plot to the nearest clearing?At 70m from the center of the plot to the nearest clearing, the average change in AGTB is about -3.1.At 80m from the center of the plot to the nearest clearing, the average change in AGTB is -2.2. Now, calculate using the average formula: Sum of the values / (divided by) the number of values: ((-2.2) + (-3.1)) / 2 = -5.2 / 2 = -2.6 Then, compare it to the answer choices: so, the answer is G. ACT Science Tip #1: even if you were a little off in your data grabbing (let’s say you said at 80m from the center of the plot to the nearest clearing, the average change in AGTB was -2.1), you see the answer choices are widespread enough that you will get the answer choice right by just picking the answer closest to the average you found in your calculations. ACT Science Tip #2: There is an alternate method to solve these questions when the answer choices are widespread (as they are in the question above). You can simply draw a line connecting the dots in the scatterplot, and then, you approximate the point at 75 m from the center of the plot to the nearest clearing. See my example below: Using this method, you can approximate the average change in AGTB at -2.8. This is closest to answer G, so that is the correct answer. Through this method, you find the answer a lot quicker. However, as I said before, this will only work for widespread answers. If -2.9 had been an answer, this method would not have been very effective, as you may have chosen incorrectly. So only use this method if the answer choices are widespread. Otherwise, stick to theprocess that will always work to answer these questions: Find the relevant data (two data pointsequidistant from the point in question) Average the data together to find the approximate value for the midpoint. Find the closest (or hopefully matching) answer This process gets a little trickierin extrapolations, in which we'll calculate data that is beyond the bounds of what we're given. Extrapolations In order to show how extrapolation works, we are going to work through an ACT Science practice question: Using this table to answer the question: This extrapolation, like all extrapolations, requires identifying a pattern in the data and predicting the next step in that pattern (in whichever direction the question's data lies).These patterns will always be relatively simple, so the steps we take are also relatively simple: Steps for every extrapolation question Pinpoint what we're figuring out: is it a value more or less than what we are given? Identify the relationship between 2 consecutive data points in the table or graph (it doesn't matter which points we use, as long as they are consecutive) Find the relationship between the data in the question and the data in the table Apply the pattern in the table to the new data point Let’s follow these steps to solve the ACT Science practice question above:We're figuring out the density that would match 67.54 g of solution in the graduated cylinder according to the table.The relationship between 60.63 g of solution (the second to last entry in the table) and 64.64 g (the last entry in the table) is +4.01 g of mass and +0.08 g/ml of density. The 67.54 g of solution (from the question) is above the highest step 64.64 g in the table. Figure out the exact mass difference between the two: 67.54-64.64 = 2.9 2.9 g is the mass difference as opposed to 4.01 g between the last and second to last entry.Between the second to last entry and last entry there was a +0.08 g/ml change in density.Since there is a slightly smaller mass change (about  ¾ the amount of change between the last and second to last entry), the density change will be slightly smaller (about  ¾ the amount of change between the last and second to last entry). So, the change should be about +0.06 g/ml.Add that to the last density value in the table (1.29). 1.29 + 0.06 = 1.35 g/ml So, the answer is H.Again, even if you were slightly off, you would have been closest to that answer choice. If you feel unsure of this process, you're about to get some more practice in extrapolating information. Check out this ACT Science practice question: Again, we follow the same steps:We need to use the table above.The highest given capacitance is 1.2 x 10^-6, and we are asked about 1.5 x 10^-6.The time for 1.2x 10^-6 was 8.3 seconds.The second highest given capacitance was 0.6 x 10^-6, and the time for it was 4.2 seconds.The difference in time between 1.2 and 0.6 (the second highest given capacitance) is 8.3 - 4.2 seconds.So the difference is +4.1 seconds. Recap I hope you feel like a calculating machine!For every interpolation question, Find the relevant data (two data pointsequidistant from the point in question). Average the data together to find the approximate value for the midpoint. Find the closest (or hopefully matching) answer. For every extrapolation question, Pinpoint what we're figuring out, is it a value more or less than what we are given? Identify the relationship between 2 consecutive data points in the table or graph. How much does the y-valueincrease or decrease as the x-value increases? Find the relationship between the data in the question and the data in the table. For example, is the data in the question 5 more or less than the data in the table? Apply the pattern in the table to the new data point. Findthe closest (or hopefully matching) answer. What’s Next? Now that you're a calculating machine learn about the other types of questions on the ACT Science section such asfactual questions,interpreting trends questions, experimental design questions, and interpreting experiments questions. In a hurry to study for the ACT? Learnhow to cram. Not sure where you want to go to college? We can help you pick your target school and figure out what should be your target ACT score. Like this article? Want to improve your ACT score by 4 points? Check out our best-in-class online ACT prep program. We guarantee your money back if you don't improve your ACT score by 4 points or more. Our program is entirely online, and it customizes what you study to your strengths and weaknesses. If you liked this Sciencelesson, you'll love our program.Along with more detailed lessons, you'll get thousands ofpractice problems organized by individual skills so you learn most effectively. We'll also give you a step-by-step program to follow so you'll never be confused about what to study next. Check out our 5-day free trial: Have friends who also need help with test prep? Share this article! Tweet Dora Seigel About the Author As an SAT/ACT tutor, Dora has guided many students to test prep success. She loves watching students succeed and is committed to helping you get there. Dora received a full-tuition merit based scholarship to University of Southern California. She graduated magna cum laude and scored in the 99th percentile on the ACT. She is also passionate about acting, writing, and photography. Get Free Guides to Boost Your SAT/ACT Get FREE EXCLUSIVE insider tips on how to ACE THE SAT/ACT. 100% Privacy. No spam ever. hbspt.forms.create({ portalId: '360031', formId: '2167ba30-e68e-4777-b88d-8bf3c84579af', formInstanceId: '2', submitButtonClass: 'btn-red-light btn', target: '#hubspot-container2', redirectUrl: 'http://ww2.prepscholar.com/blog-subscribe-thank-you', css: '.post-bottom .hs-form.stacked label {display:none;} .post-bottom .hs-form.stacked .field div.input {padding-top: 55px; padding-left: 300px;} .post-bottom .hs-input {width: 220px} .post-bottom .btn-primary, .hs-button.primary {margin-top:0px; padding-left:350px} .post-bottom .hs-form-field {margin-bottom:5px}' }); $(function(){ $(".exclusive-tip-form #hubspot-container2 label").hide(); }); function replace_tag(a, b){ $(a).each(function(index) { var thisTD = this; var newElement = $(""); $.each(this.attributes, function(index) { $(newElement).attr(thisTD.attributes[index].name, thisTD.attributes[index].value); }); $(this).after(newElement).remove(); }); } $(function(){ replace_tag($(".posts-by-topic h3"), "h2"); }) Ask a Question BelowHave any questions about this article or other topics? Ask below and we'll reply! Search the Blog Search jQuery(function(){ var $ = jQuery; var url = 'http://google.com/search?q=site:' + location.protocol + '//' + location.hostname + ' '; var $searchModule = $('.hs-search-module.3873e88b-e66e-4891-851b-5edb407b597c'); var $input = $searchModule.find('input'); var $button = $searchModule.find('.hs-button.primary'); if (false) { $input.val(decodeURIComponent(location.pathname.split('/').join(' ').split('.').join(' ').split('-').join(' ').split('_').join(''))); } $button.click(function(){ var newUrl = url + $input.val(); var win = window.open(newUrl, '_blank'); if (win) { //Browser has allowed it to be opened win.focus(); } else { //Browser has blocked it location.href = newUrl; } }); $input.keypress(function(e){ if (e.keyCode !== 13) return; e.preventDefault(); $button.click(); }); }); Improve With Our Famous Guides SATPrep ACTPrep For All Students The 5 Strategies You Must Be Using to Improve 160+ SAT Points How to Get a Perfect 1600, by a Perfect Scorer Series: How to Get 800 on Each SAT Section: Score 800 on SAT Math Score 800 on SAT Reading Score 800 on SAT Writing Series: How to Get to 600 on Each SAT Section: Score 600 on SAT Math Score 600 on SAT Reading Score 600 on SAT Writing Free Complete Official SAT Practice Tests What SAT Target Score Should You Be Aiming For? 15 Strategies to Improve Your SAT Essay The 5 Strategies You Must Be Using to Improve 4+ ACT Points How to Get a Perfect 36 ACT, by a Perfect Scorer Series: How to Get 36 on Each ACT Section: 36 on ACT English 36 on ACT Math 36 on ACT Reading 36 on ACT Science Series: How to Get to 24 on Each ACT Section: 24 on ACT English 24 on ACT Math 24 on ACT Reading 24 on ACT Science What ACT target score should you be aiming for? ACT Vocabulary You Must Know ACT Writing: 15 Tips to Raise Your Essay Score How to Get Into Harvard and the Ivy League How to Get a Perfect 4.0 GPA How to Write an Amazing College Essay What Exactly Are Colleges Looking For? Is the ACT easier than the SAT? A Comprehensive Guide Should you retake your SAT or ACT? When should you take the SAT or ACT? Michael improved by 370 POINTS! Find Out How Stay Informed Get the latest articles and test prep tips! Looking for Graduate School Test Prep? Check out our top-rated graduate blogs here: GRE Online Prep Blog GMAT Online Prep Blog TOEFL Online Prep Blog