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Questionable Accounting Leads to The Collapse - Essay Example
Finance & Accounting
Pages 9 (2259 words)
Case Study Analysis: Enron: Questionable Accounting Leads to The Collapse [N a m e] [Course][Class] [Professor] [Date] INTRODUCTION: As the world enters into the twentieth first century, many experts think that a new era of business world has dawned in which companies not only have to create targets for their product and services but also need to adopt entirely new concept in their mission, purpose, vision, implementation and conduct, through the implementation and practice of Ethics on the organizational scale…
Similarly, in financial studies reporting plays a very important part not only to the company’s point of view but also from the point of view of public and investors. So financial reporting is actually a very important matter not only for the companies who develop the reports and send them out, but in fact also for the investors, consumers, business partners, competitors, other agencies as well as general public who read the reports and analyze it to make their decisions. With the help of financial statements in these reports a company actually represents their performance to the stakeholders. They do not only tell their activities and philosophies in detail but also explain the vision and future plans as well. At the same time they try to enhance their reputation as well. And lastly but most importantly the managers show accountability of their work and decisions to the stakeholders through these financial reports. So if the reporting by these companies is not accurate a lot of such decisions can become wrong. ...
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