Enron Is Responsible For The Crisis Of Confidence - 859 Words

K1.1 - 1 Enron – Enron is partially responsible for the crisis of confidence, because they committed the fraud via the special purpose entities. Because of the three percent rule, Enron was able to put lots of its liabilities onto those off-balance sheet entities. Also, Enron did not have adequate financial statement disclosures. Many of the top employees at Enron were able to â€Å"realize† an extraordinary profit within matters of a couple months because of the fraud. Additionally, Enron abused the mark-to-market accounting method for its long-term contracts. All of these fraudulent activities caused Enron’s profits to be overinflated. Andersen – Although Enron committed the fraud, Andersen allowed Enron to get away with it. An audit firm has to be independent from their client and act in the best interest of the public. For this reason, I think that Andersen was the most responsible for the Enron crisis. Andersen could have declined continuing their relationship with Enron as their client, considering some Andersen representatives did not agree with Enron’s â€Å"aggressive† accounting and financial reporting decisions in the early months of 2001. Andersen also assisted Enron in restructuring some of the SPEs so they would still be considered unconsolidated entities. Andersen not only audited Enron, but they also went beyond the scope of what the quality audit should entail. It was also telling when personnel in the Houston office destroyed documents related to Enron andShow MoreRelatedCorporate Scandals And The Implact Of The Sarbanes Oxley Act1472 Words   |  6 Pagescollapsed in the early 2000s with the unravelling of Enron in October 2001 followed by the implosion of WorldCom and many others big corporations. The downfall of these major companies led to a wide spread crisis of confidence in the financial markets. 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Contaminated Product This is one of the most serious and frequent problem of Coca Cola products . In the case itRead MoreFailure And Fraud Of Enron1161 Words   |  5 Pagesobjective. In 2001, Enron, the seventh largest company in the U.S participated in fraudulent activity. The fraudulent activity committed by Enron was the beginning of an inevitable ripple of failure in the company’s future. Although Enron performed the major scandal, the auditing agency Arthur Andersen was highly responsible for their negligence and their participation in the deception of the financial investors. The general public didn t easily predict the downfall of Enron because it was one ofRead MoreThe Sarbanes Oxley Act Of 20021274 Words   |  6 PagesIn the history of the United States, we have experienced numerous financial crisis, where millions have been affected. Some of them include the great depression in 1929, World War II, and recently the financial crisis of 2008. 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Enron, was the world’s largest energy company in 2001. Enron forerunner, Northern Gas Company was incorporated in Delaware on April 25, 1930. From this date through July 1985, Enron had hundreds of purchases and new sub-entity constructions when they acquired Houston Natural Gas Inc. (Kastantin, 2005). On April 10, 1986, the company changed its name to Enron Corporation. Enron was an interstate and intrastate natural gas pipeline company, then later in 1989 Enron started trading naturalRead MoreENRON Case Study1572 Words   |  7 Pages1. The Enron debacle created what one public official reported was a â€Å"crisis of confidence† on the part of the public in the accounting profession. List the parties who you believe are most responsible for that crisis. Briefly justify each of your choices. Following parties are believed to be the most responsible for the crisis. With any big organization going so bad, the blame starts with the top level executives, there was no different in this case. For Enron the blame started with Enron’sRead MoreSarbanes Oxley Act Of 2002 Essay1343 Words   |  6 PagesSarbanes-Oxley Act of 2002 The financial crisis of the early 2000s left many investors and stockholders nervous about the accuracy of financial statements issued by public companies. The financial crisis resulted after many previously successful companies suddenly tanked due to restatement of their financials. These companies include Enron, Tyco, Sunbeam, Rite-Aid, Xerox and WorldCom amongst others (Kieso, 2014, p. 17). How could many previously successful companies suddenly go belly-up? The evidence

Bhaviour across the lifespan Free Essays

Erik Erikson’s psychosocial theory of development is I think explained best the personality development of an individual. His theory focused on the boundary between the child and the environment and then graphed the evolution of the maturing ego’s relations with an expanding social world. Psychological developments results from the interaction between maturational process or biological needs and the societal demands and social forces encountered in everyday life. We will write a custom essay sample on Bhaviour across the lifespan or any similar topic only for you Order Now His theory concerns psychological development throughout the lifespan, rather than just the birth through adolescence. He based his theory on the concept of epigenetic principle, which means that development takes place in order, clearly identified stages, and that phase ought to be adequately resolved for growth to proceed smoothly. The eight stages of the life cycle clearly illustrate the development of an infant to his older years. He believes that development does not end when maturity is reached, but extends into old age which is very true. The process of learning continues throughout life. For instance, stage 1 of Erikson’s trust vs. mistrust theory, infants learn either to trust or mistrust that their needs will be met on the basis of their experience (Sternberg and Wilson, 2004). Successful passage of this stage leads to a child that wants to learn to become self-sufficient and to develop his own independence. At each step of development, children learn that certain behaviors are acceptable whereas others are not. The years of middle childhood are particularly for the learning taught by the family, culture, and society. Peer relationships become more important over family. Erikson believed that individuals on this stage search for an identity as part of the society and must balance the desire to be unique and the need to conform. Adulthood life stages focused on achieving unselfish love, the feeling of productivity and wisdom. Certainly, that many people experience conflicts at the ages Erikson specified, everyone would undergo the eight life cycles, but then successful passage of these stages can be a healthy experience for an individual. Obsessive-compulsive disorder (OCD) has been regarded as a neurotic disorder, like phobias and anxiety states. A neurotic patient, unlike a psychotic, he is aware that he has a problem- that is, he has insight and his contact with the outside world is relatively intact. People with this problem can suffer considerable distress, and often feel that they are helpless victims. Severe OCD can cause major incapacitation and drastically affects people’s lives. Criteria used for diagnosing OCD are: a person must have obsessions, compulsions or both; the disorder is not due to another disorder such as depression or organic disorders. Finally, the obsession and/or compulsion cause distress to the person and interfere with his life and activities (Penzel, 2000). A person with this disorder experienced unwanted recurrent and persistent thought which is not voluntarily produced just like when one is saying I am obsessed in football but experiences that invade a person’s consciousness that can be worrying, repugnant, blasphemous, obscene or nonsensical. An obsession is a passive experience: it happens to the person. He may be engaged in some activity, like driving a car, when the obsession intrudes into his consciousness. It disrupts his normal thinking and behavior. Compulsion on the other hand is a repetitive and seemingly purposeful behavior that is performed according to specific rules or in a stereotyped manner (Maj, 2003). The behavior is not an end in itself, but is usually intended to prevent some situation or event, though, the action is not related in a logical or reasonable way, or it may be clearly excessive. The person feels a strong compulsive urge to engage in a particular behavior which he carries out despite resistance and recognizing that it is irrational or excessive. Recovering from OC disorder is not simply a matter of sheer willpower or resistance. OC individuals need intensive help in retraining themselves, both in terms of behavior and their outlook on life. Therapies such as behavioral, cognitive and psychotherapy are the treatments that were used by psychiatrist in order to help an OC person to overcome his disease. Medications like antidepressants can also help to treat OCD, but important treatment came from the person itself, his willingness and the support from the people around him. WORK CITED Sternberg, R. Wilson, J. (2004). Psychology. US: Thomson Wadsworth Maj, M. (2003). Obsessive-Compulsive Disorder. England: John Wiley and Sons Penzel, F. (2000). Obsessive-Compulsive Disorders: A Complete Guide to Getting Well and Staying Well. New York: Oxford University Press How to cite Bhaviour across the lifespan, Papers

The Big Business of Dairy Farming Essay Example Essay Example

The Big Business of Dairy Farming Essay Example Paper The Big Business of Dairy Farming Essay Introduction The Big Business of Dairy Farming : Big Trouble for Cows June 11, 2007 Most people are aware that dairies in the United States bear little resemblance to the idyllic pastures of yesteryear. As with other branches of animal agriculture, such as chicken and egg production, hog farming, and beef production as well as crop growing small, traditional dairy farms have been steadily pushed out of the business by large agribusiness concerns. Since the mid-20th century, the growth of factory farming has led to the transformation of agriculture, forcing small farmers to? et big or get out.? Small farms cannot compete with big agricultural firms because they cannot achieve the same economies of scale. The American dairy industry annually produces about 20 billion gallons of raw milk, which is processed and sold as butter, cheese, ice cream, and fluid milk. This amounts to about INR 1,739. 31 billion in sales each year. There are between 65,000 and 81,000 U. S. dairies, yet corporate consolidati on means that about half of the milk sold comes from just under 4 percent of the farms. While the large number of brands and labels on store shelves would seem to indicate a diversity of sources, in reality many of these brands are owned by a handful of large corporations. For example, the countrys largest dairy producer, Dean Foods, owns 40 or so brands, 3 of them representing organic milk. As the number of dairy farms has decreased, the size of those remaining has increased. Between 1991 and 2004, the number of U. S. dairies dropped by almost half, and the number of dairies with 100 or more cows grew by 94 percent. Because big businesses typically seek continuously increasing profits, production must be maximized, almost always at the expense of the cows in one way or another. The cows must be pushed to produce more and more milk. The production of large amounts of milk has called for changes that affect the animal’s health, including the use of drugs, mechanization, and fa ctory-like housing conditions. Most dairy cows are raised in concentrated animal feeding operations (CAFOs); about 10 percent of those are considered large CAFOs, each with more than 700 dairy cattle. The Big Business of Dairy Farming Essay Body Paragraphs One of the keys to higher production and higher profits is to increase the milk yield while raising fewer cows. Between 1950 and 2000, the number of dairy cows in the United States fell by more than half, yet during that same period, the average annual milk yield more than tripled. What made this possible, and how has it affected the welfare of the animals? Frequent pregnancy Cows are like any other mammal in that they produce milk for the nurturing of their young; in order to lactate, a cow must recently have given birth. In her natural state, a cow gives birth after nine months of gestation and nurses her calf for seven months to a year. This is? wasted? time that a dairy factory farm can ill afford in addition to the fact that the milk is meant to go to market, not to the calf so calves born to dairy cows, whose primary purpose in being born is to induce lactation, are taken away either immediately after birth or within a day or so. This separation causes great distress to the mot her, who would normally feed the calf more than a dozen times a day and, like other mammals, forms a strong bond with her young soon after birth. Male calves are killed or sent off to be raised for veal or beef. Females become dairy cows like their mothers; frequent replacement of herd members is necessary because the death rate of dairy cows is very high. Cows natural life expectancy is 20 years or more, but the average dairy cow lives just 3 to 4 years, exhausted by constant lactation and frequent disease. Cows on factory farms give birth once a year as a result of artificial insemination. About two to three months after calving, a cow is once again impregnated, and the cycle begins again. Lactation continues throughout, except for a few weeks break in between its cessation (about eight months or so after calving) and the next time she gives birth. Thus, dairy cows are induced to produce milk for most of the year. High-protein feed and growth hormones Cows naturally eat grass, whi ch is how the bucolic image of dairy herds grazing in pastures became so well recognized. A diet of grass, however, is high-fiber and of low nutritional density and does not result in a high milk yield. The milk produced from this diet would be enough to feed a calf, but it is not enough to satisfy market needs. So modern dairy cows are fed a low-fiber, high-protein diet of grains such as corn and soy along with animal by-products. As ruminants, they have stomachs with four compartments that are made to process high-fiber grass; partially digested food, or cud, is regurgitated to again be chewed and swallowed, a process that occupies cows for up to eight hours a day. The feed given to cows on dairy farms, however, does not lend itself to this process and is thus difficult for them to digest, causing health problems. In addition, the use of high-protein diets because they contain animal protein, including, in the past, tissue from diseased cows has been implicated in the proliferatio n of mad cow disease. Another tool to increase milk yield is the use of the genetically engineered growth hormone rBGH (recombinant bovine growth hormone). This hormone contributes to an average milk prouction of 100 pounds of milk per cow per day, 10 times as much milk as a calf would need. Maintaining such high production for such an unnatural length of time exhausts the cows bodies and depletes them nutritionally to such a degree that even the nutritionally dense feed cannot compensate. Copious milk production causes cowsbones to become severely deficient in calcium. They thus become prone to fracture, and the result is a sharp increase in the number of? owned? cows, or? downers,? a general term for farm and food animals who collapse, unable to stand up again, and must be destroyed. The use of rBGH causes other serious problems, including chronic mastitis (a painful bacterial infection and swelling of the udder), which is related to overproduction of milk. To treat infections and help prevent them, dairy farms routinely administer antibiotics to their cows. Antibiotics and rBGH find their way into the milk that humans drink. It is known that the overuse of antibiotics, including routine preventative use, encourages the development of antibiotic-resistant strains of bacteria. In addition, milk from cows given rBGH shows an increased presence of IGF-1, an insulin-like growth factor, which has been shown to cause cancer in humans. The amount of IGF-1 present in milk produced by cows given rBGH is two to 10 times that in non-rGBH milk. The U. S. Food and Drug Administration, which is responsible for regulating the use of such supplements, not only has allowed the use of rBGH but has also refused to allow the labeling of milk to advise consumers that it contains the hormone. The United States is the only industrialized nation that permits the use of growth hormone in animals used for food. How dairy cows are housed In 2001 more than 75 percent of dairy cows had no access to pasture. Cows in many dairies are housed in a combination of outdoor and indoor facilities, such as sheds, outdoor dirt corrals, and stall barns that may not have access to the open air and where cows may be tied up or otherwise restrained for long periods of time. Cows who are restrained in stalls show signs of stress from social isolation and the inability to lie down; further, they are likely to develop teat and skin injuries, lameness, and susceptibility to a variety of diseases. Over the last few decades, agribusiness dairies have experienced great growth in the southwestern United States, which has a very different climate from the country’s traditional dairy-producing regions, including New England and the Midwest. The Southwest does not have expanses of grassland, and most dairy cattle there are housed in unpaved dirt lots, or drylots. The undeveloped surface of such lots is hard on the cows and causes frequent lameness. Drylots offer inadequate protectio n from the elements, and heavy rains create layers of mud and manure several inches thick, often making it difficult or impossible for the cows to walk or lie down on a dry surface, which dairy experts recognize as a health requirement for cows. Further, the population density on dirt feedlots tends to be very high. In the southern regions of California, one of the largest dairy-producing states, the average number of cows per dairy was 800 to 1,000 in 2005aâ‚ ¬Ã¢â‚¬ more than three times higher than it was in 1972. High density makes it difficult to maintain sanitation, and dairy cows housed this way are subject to frequent illness and infections. Organic dairies Unlike the sorry state of most so-called free-range? hicken facilities, the majority of organic milk producers do treat their cows well, providing access to pasture and proper feed, avoiding growth hormones, and adhering to ethical standards. However, the growth of the organic milk industry in the 1990s and the early 2 000s has attracted the attention of agribusinesses, whose desire to participate in this lucrative market has led them to compromise organic standards and lobby for the degradation of such regulations at the federal level. According to a 2006 report by the Cornucopia Institute, a farm-policy research group, some of the countrys leading producers of milk, after entering the organic market, have attempted to transfer their factory-farm dairying techniques to the production of aâ‚ ¬? organicaâ‚ ¬? milk. The study found that nearly 20 percent of the organic-brand milk on store shelves was from producers following substandard practices. Consumers should be aware that some of the biggest names in the business are among those implicated. We will write a custom essay sample on The Big Business of Dairy Farming Essay Example specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Big Business of Dairy Farming Essay Example specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Big Business of Dairy Farming Essay Example specifically for you FOR ONLY $16.38 $13.9/page Hire Writer

Free Essays on Pop Art

Pop Art Pop art was a movement that wasn’t so much a style, as a shared viewpoint about the artist’s modern environment. Some believe that pop art came about as a direct reaction against abstract impressionism. But the art is deeper than simply a rebellion; it allows a new perspective on culture. This perspective being the realization and acceptance of the twentieth century’s commercial culture that emerged out of the Second World War in a need by the public to reinvent the way they see their ordinary lives. When President Roosevelt formed the Works Progress Administration in 1935 to help artists through the depression, it had a stimulating affect on the New York art scene. Artists could meet together and discuss, and soon they saw that you didn’t need to go to Paris to paint, the artist simply needed to embrace his own confidence and knowledge and experience to produce fine art. Many European painters had been in New York at this point participating in the New York art scene, so when they returned home, many to England where simultaneously another independent pop art movement had started, there was a newfound reverence for American art, and culture. The enthusiastic, and ironic, paintings of these artists chose to embrace what the German called Capitalist Realism. The artists chose to incorporate the mass media and this consumerism into their art, both celebrating it and critiquing it. These artists painted for the now, they didn’t use an object, whether it be a symbol, person, or situation, until it was already well known to its audience in its usual setting. They highlighted not the commonplace in a painting, but the commonplace as a painting. Each artist in this movement had their own way to express their take on Capitalist Realism. One of the first English pop artists was Richard Hamilton, who defined pop art to him as, â€Å"popular, transient, expendable, low-cost, mass-produced, young, witty, sexy, gimmi... Free Essays on Pop Art Free Essays on Pop Art Pop Art Pop art was a movement that wasn’t so much a style, as a shared viewpoint about the artist’s modern environment. Some believe that pop art came about as a direct reaction against abstract impressionism. But the art is deeper than simply a rebellion; it allows a new perspective on culture. This perspective being the realization and acceptance of the twentieth century’s commercial culture that emerged out of the Second World War in a need by the public to reinvent the way they see their ordinary lives. When President Roosevelt formed the Works Progress Administration in 1935 to help artists through the depression, it had a stimulating affect on the New York art scene. Artists could meet together and discuss, and soon they saw that you didn’t need to go to Paris to paint, the artist simply needed to embrace his own confidence and knowledge and experience to produce fine art. Many European painters had been in New York at this point participating in the New York art scene, so when they returned home, many to England where simultaneously another independent pop art movement had started, there was a newfound reverence for American art, and culture. The enthusiastic, and ironic, paintings of these artists chose to embrace what the German called Capitalist Realism. The artists chose to incorporate the mass media and this consumerism into their art, both celebrating it and critiquing it. These artists painted for the now, they didn’t use an object, whether it be a symbol, person, or situation, until it was already well known to its audience in its usual setting. They highlighted not the commonplace in a painting, but the commonplace as a painting. Each artist in this movement had their own way to express their take on Capitalist Realism. One of the first English pop artists was Richard Hamilton, who defined pop art to him as, â€Å"popular, transient, expendable, low-cost, mass-produced, young, witty, sexy, gimmi...

Passionate and Impassioned

Passionate and Impassioned Passionate and Impassioned Passionate and Impassioned By Maeve Maddox A reader wonders about the words passionate and impassioned: Do they mean the same thing? If not, when should you use one and not the other? The word passion derives from a Latin verb that means â€Å"to suffer† or â€Å"to undergo.† One use of the noun is to name the sufferings of Jesus. For example, a â€Å"passion play† is a performance that reenacts the arrest and death of Jesus. The title of Dreyer’s play about the trial of Joan of Arc is called The Passion of Joan of Arc in reference to her sufferings, which the filmmaker felt paralleled the sufferings of Christ. Another sense of passion is â€Å"strong emotion.† It can refer to sexual passion or to a strong emotion like anger or indignation. A passionate person is readily swayed by emotions. In such expressions as â€Å"a passionate kiss† and â€Å"a passionate embrace,† the connotation is usually sexual. Someone swayed by strong feelings about some nonsexual purpose might be described as â€Å"a passionate reformer,† or â€Å"a passionate preacher.† Sports enthusiasts are said to be â€Å"passionate about football.† Although the words are mostly synonymous, impassioned perhaps has the connotation of strong feeling rooted in conviction. Here are some recent examples of both adjectives as used on the Web: The actor  then applied to the Grand Duke, and the latter, a  passionate lover  of  dogs, signified his desire that the request be granted. Part II explores the ways that prosecutorial  passion  might affect  plea. Because marriage is for the rest of my life, I think it will be more enjoyable if I married a person who is like a friend, as opposed to marrying for passionate love. WVU Womens Basketball Carey wants  passionate effort  against Oklahoma Freida Pinto Gave An Impassioned Feminist Speech Every Woman And Man Needs To Hear Impassioned crowds protest Ferguson decision in Boston Synonyms for passionate when the context is sexual: amorous ardent loving sexy sensual erotic lustful Synonyms for passionate in other contexts: intense emotional fervent vehement heated spirited energetic frenzied fiery wild violent Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:Comparative Forms of AdjectivesEmpathy "With" or Empathy "For"?What Is the Meaning of "Hack?"

Globalization in India and Brazil Essay Example | Topics and Well Written Essays - 1000 words

Globalization in India and Brazil - Essay Example The economy of India has the features of both socialistic and capitalistic economy. The economy was stratified into sectors entirely reserved for the government and sectors reserved for the private. The government had a strict control over the business community through the licensing and reservations. The economy of India in the 1980s was mostly dependent on the foreign borrowings. "In June 1991 India's condition on foreign exchange reserves was poor and precarious. India made a proposal for a loan of US$ 2.26 billion from the IMF. In view of the destitution that the country was in, it had no alternative than to succumb to the World Bank-IMF prescription in embarking on the so-called stabilization and structural adjustment programmes as a precondition to loan. The World Bank was ready with its proposed 'Strategy for Trade Reform'. As a result, thus, India introduced the New Economic Policy (NEP) in 1991" (Mishra, 2006). India started its trade liberalization and globalization hand in hand out of compulsion to survive. As a result, the major reforms that were introduced were: The above-mentioned measures were some of the prominent introduced by the government. But these measures were heavily criticized by the conservative leftist parties. It was predicted that India would be flooded by foreign-made goods and the local industry would be crushed. Among emerging market economies, India is considered as a location of consequence for foreign firms because of prospective opportunities that arise for reasons such as the market size referred to and human resources. The high talent and relatively low cost of Indian managers can make the transfer of capabilities easier to Indian subsidiaries, reducing the need for expatriate staff and increasing the feasibility of using Indian subsidiaries as an export platform (Cable, 1995). Though globalization in India had its bumps, the economy is now reaping the benefits of globalization. The economy has become stronger and Indian co mpanies have started to set up operations based out of India( Chibber, 1999). Though globalization was able to give the much-needed boost to the docile economy, the benefits of the process are mostly enjoyed by the urban mass and there are very little benefits enjoyed by rural India. Globalization in Brazil Brazil is a growing economy in its path of development through its effective globalization initiatives. According to Richard L. Harris, in order for globalization to occur, a country must partake in a global process of cross-border flows of products, services, capital, people and information(Harris, 2005). The three most prominent areas of change in the Brazilian economy are the agricultural changes, military weapons development, and overseas construction. (Sanchez, 2005). Before globalization, Brazil was concentrating on its only cash crop, Sugar.  Ã‚  

Direct Solar Energy Research Paper Example | Topics and Well Written Essays - 750 words

Direct Solar Energy - Research Paper Example The solar technologies are categorized as active and passive solar technologies depending in the manner in which they capture convert and distribute solar energy. For example, active solar technologies use solar power for transforming sun rays into electricity directly by means of photovoltaics (PV) or indirectly through concentrated solar space (CSP). The direct solar energy systems generate electricity in one of the two ways: photovoltaic cells and concentrated solar power. The total worldwide capacity of CSP has been growing at an average annual rate of 50 %. However, Ellis, et al. (2013) notes that the CSP have lower renewable energy contribution as compared to solar photovoltaics. The current photovoltaic power generation is 189 GW and is produced by crystalline silicon, concentrating, and thin-film PV.Even though the conventional energy account for 70% of the global energy consumption, the current consumption patterns would not be sustainable in future because of their environm ental impact to climate change and depletion. In this perspective, solar energy is renewable and it cannot be depleted. Direct solar energy mitigates global warming, enhances sustainability, reduces pollution, discourages the use of fossil fuels because solar energy is cheap, and reduces the required transmission lines of the electricity grids, as well as improving the quality of water resources.In general, the costs of renewable energy are lower as compared to that of fossil fuels and nuclear energy.