The Awakening Essay - 844 Words

Throughout The Awakening, Kate Chopin conveys her ideas by using carefully crafted symbols that reflect her characters thoughts and futures. One of the most important of these symbols, the bird, appears constantly, interwoven in the story to provide an insight to the condition of Ednas and her struggle. At each of the three stages of her struggle, birds foreshadow her actions and emphasize the actions importance while the birds physical state provides an accurate measure of that of Ednas. Early in the novel, while Edna attempts to escape from societys strong grasp, birds emphasize her entanglement by forecasting her actions and monitor her development by reflecting her feelings. The novel opens with the image of a bird, trapped†¦show more content†¦Robert does not want to do something wild and unacceptable to society. In a situation parallel to that of Ednas, the only bird that understands the parrot is the mockingbird (Reisz) that quot;[is] whistling its fluty notes upon the breeze with maddening persistencequot; (1). Because the parrot continues to shriek, people move it away from their society: quot;[Mr. Farvial] insisted upon having the bird removed and consigned to regions of darknessquot; (23). Society wants to hide the bird in darkness, as it wants to do to Edna, in order to keep the bird from causing problems. The bird, like Edna, is the only one quot;who possessed sufficient candorquot; to tell the truth about society (23). Throughout Ednas imprisonm ent, birds reflect her actions and feelings. amp;#9;Once Edna begins to escape, however, the birds become important signs of her success in escaping and continue to foreshadow her actions. Upon hearing Mademoiselle Reisz play quot;Solitudequot;, Edna envisions a free bird for the first time. She imagines quot;a man standing beside a desolate rock...with hopeless resignation as he looked toward a distant bird winging its flight away from himquot; (25). The appearance of a free bird provides an important sign of Ednas beginning freedom and success. Also, the bird leaves a hopeless and resigned man as Edna leaves Mr. Pontellier. While Edna relates her love story to Mr. Pontellier and Doctor Mendelet, she begins to show her feeling of freedom byShow MoreRelatedThe Awakening on Kate Chopins The Awakening1745 Words   |  7 Pages The time period of the 1880s that Kate Chopin lived in influenced her to write The Awakening, a very controversial book because of many new depictions of women introduced in the book. The Awakening is a book about a woman, Edna Pontellier. In the beginning, she is a happy woman with her husband and 2 kids vacationing at Grand Isle. While there, Edna realizes she is in love with Robert Lebrun and that she was just forced into an unloving/dissatisfying marriage with Mr. Pontellier. Robert howeverRead MoreDemoralization In The Awakening1584 Words   |  7 Pagesthem and cause them to lose hope. Kate Chopin uses words like â€Å"depressed† (56), â€Å"hopeless† (56) and â€Å"despondency† (p115) to describe Edna, the heroine, in The Awakening. Coupling this description with Edna taking her life at the end of the novel and Chopin’s own inferred demoralization, due to the almost universal aversion to The Awakening, the natural conclusion is that it is a work of â€Å"great personal demoralization†, (Companion 5) as Michael Levenson states. Levenson suggests most modernist authorsRead MoreFeminism In The Awakening1562 Words   |  7 Pagesprivileges as each other. Basic human rights would give others the notion that this is how all humans should have been treated from the beginning. However, this is far from the truth. Books like The Awakening, give us an inside look at how women were treated around 100 years ago. When Kate Chopin wrote The Awakening, she created a blueprint for how we see modern feminism. Without being obvious, Chopin showed how one woman started to liberate herself from an oppressive society. During the 1800s when the bookRead MoreEssay on The Awakening1610 Words   |  7 Pages In their analytical papers on The Awakening by Kate Chopin, both Elaine Showalter and Elizabeth Le Blanc speak to the importance of homosocial relationship to Edna’s awakenings. They also share the viewpoint that Edna’s return to the sea in the final scene of the book represents Edna being one with her female lover and finding the fulfillment she has been seeking. We see evidence of this idea of the sea as a feminine from Showalter when she tells us that â€Å"As the female body is prone to wetness,Read MoreSymbolism In The Awakening1420 Words   |  6 PagesAnalyzing Chopin’s use of symbolism in â€Å"The Awakening† What would one expect to be the personality of a woman, who was raised in a family of no man dominance in the year of 1800? Kate Chopin was born in Missouri, in 1850 and was one of the five children. At very young age, Kate lost her both sisters and her brother. At age of five, Kate was sent to a Catholic school. Not long after leaving her home, Chopin loses her father. Kate is being sent home from school to live with her mother, grandmotherRead More Essay on The Awakening712 Words   |  3 PagesCritical Views of The Awakening      Ã‚  Ã‚   The Awakening, written by Kate Chopin, is full of ideas and understanding about human nature. In Chopins time, writing a story with such great attention to sensual details in both men and women caused skepticism among readers and critics. However, many critics have different views with deeper thought given to The Awakening. Symbolism, the interpretation of Ednas suicide, and awakenings play important roles in the analysis of all critics.    SymbolismRead More The Awakening Essay1091 Words   |  5 Pagesthe fact that an author is able to convey his/her message clearer and include things in the book that cannot be exhibited in a movie. For this reason, the reader of the book is much more effected than the viewer of the film. In the novella, The Awakening, by Kate Chopin, there is much more evidence of symbolism as well as deeper meaning than in the movie version of the book, Grand Isle. Chopin conveys her symbolic messages through the main character’s newly acquired ability to swim, through the birdsRead More The Awakening Essay2046 Words   |  9 Pages The Awakening is a story full of symbolism and imagery that can have many different meanings to the many who have read it. I have read several different theories on Kate Chopin’s meaning and though some are vastly different, they all seem to make sense. It has been said that Kate Chopin might have been ambiguous just for this reason. At some point, almost everyone struggles with knowing or not knowing their purpose in life, and therefore it seems, that on some level, most who read the story aboutRead More Essay on The Awakening733 Words   |  3 PagesCriticism of The Awakening      Ã‚   Reading through all of the different criticism of Kate Chopin’s The Awakening has brought about ideas and revelations that I had never considered during my initial reading of the novel.   When I first read the text, I viewed it as a great work of art to be revered.   However, as I read through all of the passages, I began to examine Chopin’s work more critically and to see the weaknesses and strengths of her novel.   Reading through others interpretations of herRead MoreThe movie Awakenings4852 Words   |  20 PagesMeagan McGee Psychology 1300 Awakenings The movie Awakenings starring Robin Williams and Robert De Niro portrays the true story of a doctor named Dr. Malcolm Sayer, and the events of the summer of 1969 at a psychiatric hospital in New York. Dr. Malcolm Sayer, who is a research physician, is confronted with a number of patients who had each been afflicted with a devastating disease called Encephalitis Lethargica. The illness killed most of the people who contracted it, but some were left living

The Breakfast Club By John Hughes - 846 Words

The Breakfast Club Noah Lane Ivy Tech Community College Abstract This paper is why everyone should watch The Breakfast Club. It tells a story of four teenagers battling with rebellion, drama, and love. Most critics will argue that it is not realistic, and no teenager is like that. However, The Breakfast Club written by John Hughes made teens everywhere relate to at least one of these characters. This movie is a dramatic comedy that will make someone laugh, cry, and angry all brought together in one amazing film. The Breakfast Club The Breakfast Club, starring Emilio Estevez, Judd Nelson, and many other great actors is a fantastic teen comedy. This movie had great humor along with heart warming love. It is almost impossible to name one bad thing about this movie. The Breakfast Club is jammed packed full of comedy, drama, and rebellion. These four high school students represent every cliche in the 1980s school life. As typical as this may sound for a teen comedy the plot takes a twist. This movie is not the usual teen comedy in any way. These four students will soon realize that they each have something in common. Each of the kids parents don t treat them fairly or don t even notice them. It is ironic at first, because they think that they have figure each person out and they know everything about them. But soon into the movie they quickly realize they are all too similar. This movie takes place in a high school in Shermer, Illinois.Show MoreRelatedThe Breakfast Club, By John Hughes1342 Words   |  6 Pagescalled cliques, to overcome these hardships, while others fight them head on by themselves. In the coming to age movie, The Breakfast Club, five different high school teenagers are forced to be together one Saturday morning and afternoon in detention. Brian Johnson the brain, Andrew Clarke the athlete, Allison Reynolds the basket case, Claire Standish the princess and John Bender the criminal, are all forced to be caged together and think about who they are. In heated verbal and social exchangesRead MoreThe Breakfast Club By John Hughes1875 Words   |  8 Pages John Hughes directed many movies that were iconic for their time period; so much so that they are still watched today in 2017. Movies are snapshots of the time period in which they were written. His movies reflect the social, cultural and political aspects in the time period that they were made to represent. Many of John Hughes’ movies relate to family and their impact on children. The Breakfast Club came out in 1985, Ferris Bueller’s Day Off came out in 1986, Plane Trains Automobiles came out inRead MoreThe Breakfast Club, By John Hughes1206 Words   |  5 Pagesaccepted from your parents, or merely trying to figure out the world around them. Teen movies shed a light on the complex lives a teengers. In the films, Breakfast Club, Heathers, and Donnie Darko, the idea of figuring out who one is an individual runs through each movie through their teenage characters. The Breakfast Club, directed by John Hughes, uses stereotypes and behaviors to categorize the characters. Actions, appearances, and dialects all are assigned to every person. The athlete, the criminalRead MoreThe Breakfast Club By John Hughes828 Words   |  4 Pagestitles to the derivative angst of the dialogue, it s a touchstone of 80s pop culture, and a schizophrenic one, too.† This could only be describing the John Hughes classic film, The Breakfast Club. This film follows five high school students from different ends of the social spectrum coming together and finding themselves. The Breakfast Club is a perfect representation self-concepts and social perceptions- how difficult it can be to figure out who you are and what it is like to discover true realityRead MoreThe Breakfast Club By John Hughes1837 Words   |  8 PagesIn John Hughes’ smash 1985 film, The Breakfast Club, five teenagers from different social cliques spend a Saturday together in detention. There is the jock, whose identity is wrapped up in athletic achievement. There is the nerd, who is book smart and socially awkward. There is the moody basket case who wears black and broods about death. There is the equally moody rebel, who smokes and swears and defies authority. And there is the princess, whose clothes are hot, whose manners are cold, and whoseRead MoreThe Breakfast Club By John Hughes Essay1558 Words   |  7 PagesIn 1985 a movie by the name of The Breakfast Club directed by John Hughes blew up movie screens; it portrayed 5 main actors of all different cliques who come to realize they are alike despite a few differences. John Bender, was one of the main character, he is an adolescent with an aggressive attitude. He is subject to domestic abuse by his father, and is a drug user, storing marijuana in his locker. As a result, he makes himself look tough. He has long, untamed hair and shaggy clothes. Overall,Read MoreThe Breakfast Club, Written And Directed By John Hughe s1276 Words   |  6 PagesOkonowsky Mrs. LeBlanc English 10 January 13th No Exit/The Breakfast Club Writing Prompt No Exit, a play written by Jean-Paul Sartre that debuted in 1944, has many similar themes to the movie The Breakfast Club, written and directed by John Hughes. The play No Exit is perceived as taking place in literal Hell and describes the interactions between those who have died and have been placed in a room together. In The Breakfast Club, students have been put in a metaphorical â€Å"hell,† detention, andRead MoreChanges in John Hughes Film The Breakfast Club Essay1075 Words   |  5 Pagesmost have exclaimed, â€Å"I will never be like my parents†. This is the underlying theme that binds together the characters in John Hughes’s film â€Å"The Breakfast Club†. Hughes is the writer and director of â€Å"The Breakfast Club† which was released in February 1985. Although this movie is almost 29 years old, it is still just as applicable to today’s society as it was then. Hughes is also known for other films of the same era which include, â€Å"Sixteen Candles†, â€Å"Pretty in Pink†, and â€Å"Ferris Buehler’s DayRead MoreThe Breakfast Club Essay1499 Words   |  6 PagesThe Breakfast Club, released in 1985 by director John Hughes, is a film about five high school students, from different social groups, and their bond over shared worries and issues in Saturday morning detention. These students show the two main issues of high school students: peer pressure and family issues. The film examines the effects of these issues on student’s everyday life and view on the world. Some of these effects include bullying, contemplation of suicide, drugs, and depression. In eachRead MoreComparative Essay Catcher a nd Breakfast Club1644 Words   |  7 PagesThe Catcher in the Rye and The Breakfast Club Various pieces of literature and entertainment exhibit similar characteristics in their writing style, themes, and portrayals. These features are in each piece to enhance the reading and viewing. The novel The Catcher in the Rye by J.D. Salinger, and the movie The Breakfast Club directed by John Hughes, are two works that are similar in some significant aspects. Both compositions overflow with the theme of teenage rebellion, use rich vernacular, and

How Do We Live On - 961 Words

How do we Live on? People live on through others. One of the most debatable questions in the world is, how do we live on? It is a simple answer. There is no concrete evidence that supports life after death or that sprits live on, but it is easily proven that people keep traditions, memories, and images of others. Our past is what shapes our perception therefore shapes our reality. It can be proven that people live on through others, by tradition, through memories, and through images. To confirm the conclusions made: Aristotle On the soul, Aristotle’s Allegory of the Cave, and Leonardo’s Mona Lisa will be referenced and discussed. The most basic human actions: talking, walking, smiling, and writing are traditions people have inherited from their ancestors. These traditions are still used to communicate today, though the minds they were originated in are long past. People’s ideas live on through others. When one explains themselves to another the other can begin to possess those same opinions, thoughts, or ideas. This is shown in â€Å"Allegory of The Cave† their reality is what they have been taught to them throughout their lives. They only know what the person in front of them has shared with them, because they are chained and down and cannot move. They are shocked when they are exposed to the â€Å"real† world because they had been so isolated from it. They experience a paradigm shift; the way they view the world is completely altered in every form. The real world is such a shockShow MoreRelatedJamestown Rediscovery Artifacts : How Do We Recapture The Lives Of People Who Left No Written Record?1623 Words   |  7 PagesJamestown Rediscovery Artifacts How do we recapture the lives of people who left no written record? If a pot is found in the middle of the woods, how do we determine how it got there? From what clues can we unlock the history behind that pot? Are artifacts a reliable source of factual information? It’s through artifacts uncovered, put together with written documentation, that we can tell the story of the way people lived. With the Jamestown Rediscovery, artifacts are analyzed and put together withRead MoreHow Many Planets Worth Of Natural Capital Do We Require For Everyone You Live Like You?1101 Words   |  5 PagesQuestion 1 a) How many planets worth of natural capital do we require for everyone to live like you? According to Appendix A, if every individual had my lifestyle, two planets would have been required for the adequate provision of resources. Surprisingly, to support my needs, an emission of 7.4 tons of carbon dioxide as well as 4.2 global hectares of the Earth’s productive land would be needed. The entailed land compromises of: †¢ 48% of Energy land (i.e. land required to accommodate my carbon emission)Read MoreWhat Do We Learn About Crooks in Section 4? 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And finally, churches need to do more in these unsettling times to not only comfort the communities they are a part of with God’s message, but must do more to provide outreach ministry to make a practical difference in people’s lives. There should be a desire and willingness for all people who call themselves Christians, including myself, to promote andRead MoreWhat Do You Th ink About Your Life?898 Words   |  4 PagesWhat do you think about in your daily life? Do you think about how lucky you are to have a family who loves and cares for you? Maybe you think about how you are well off and have everything under control with no uncertainty. Or you could be blind sided form those thoughts and could have other reflections like how nothing is ever working out for you or how you always have bad fortune. And you never really think about how life could be worse because you are so focused on wanting just one positive thingRead MoreMachines Overcoming Humans732 Words   |  3 Pagesthink, about how much technology we humans use daily, they realize just how much we are in need of it. As people, look back in time over the generations to where we no technology to whereas now almost everything you come across you can find on the internet or on a system. When reading â€Å"The Machine Stops,† it shows the reader just how naà ¯ve people are to how much techn ology they use. People are so use to just having it that they do not even think about how much it consumes their lives. As I haveRead MoreThe Fourth Extinction By Elizabeth Kolbert1477 Words   |  6 Pagesday to day basis most people take for granite the lives we get to live, along with putting to much value on the extra things such as materialistic items. Also, the majority of humans are too invested in their personal lives or with themselves that they do not look at the big picture of how what we are doing now will effect us later. As humans are routines in our lives can bring us harm, and within time a we may become the sixth extinction. I believe we threaten human existence as a species and it canRead MoreWhy The World Is A Utopia?1188 Words   |  5 PagesWe all want the world to be a Utopic world, but the truth is it’s not. We live in a Dystopic world, even though most people do not want to believe it or admit it to themselves. When I step back and get perspective on the world today, I can clearly see that we live in a Dystopic world. Why does a portion of today’s society want the world to be a Utopia? In a Utopic world, everything would be perfect, we would not have the struggles to change us into the human’s we are meant to be. However, in a DystopicRead MoreWhat Does It Happen?1147 Words   |  5 Pageseverything is pointless. 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Interpretation of the chapter: We live in joy because we do not hate those who hate us; we live in freedom because we do not hate even

The Events Leading To The Collapse Of Enron Accounting Essay Example For Students

The Events Leading To The Collapse Of Enron Accounting Essay Enron is an American Energy Company based in Downtown Houston, Texas which began in 1985 and prospered fast claiming grosss of about $ 101 billion in 2000, to electricity-generating workss and H2O companies, Enron added many concerns outside of the energy field, such as newspaper, broadband overseas telegram, and fiber optics. Its prestigiousness and stock monetary value soared. But by early 2001 Enron, though valued at $ 60 billion, began a prostration into bankruptcy. Its extension into unprofitable concerns and accounting patterns that disguised the true fiscal place of the company were among the grounds. It was revealed that it s reported fiscal status was sustained well by institutionalized, systematic, and creatively plannedA accounting fraud, known as the Enron dirt . The dirt besides affected the wider concern universe by doing the disintegration of theA Arthur AndersenA accounting house. The consequence is a immense corporate, fiscal, accounting, federal regulative and political dirt every bit good as a catastrophe for 1000s of Enron employees and investors. At least 10 Congressional commissions are now look intoing Enron and its accounting house, Arthur Andersen. While Enron may hold engaged in illegal concern activities for illustration, both Enron and Arthur Andersen have shredded many concern records. Reappraisal of Literature: Evidence of a thorough reappraisal of relevant literature ( a lower limit of 8 articles ) Question 1: I. Conduct your ain research on the events taking to the prostration of Enron and name the series of questionable concern trades by Enron, in peculiar, between Enron and Raptor, and between Enron and Condor. How those trades were accounted for in the fiscal statements? ( 12 Markss ) ( Around 750 words ) Organization is charged with the duty to map in an ethical manner. In the early 2000 s the largest or most good known concern failure occurred. Enron was exposed for their immoral patterns and non merely was the organisation held responsible, but the persons involved were besides. Once the 7th largest company in America, Enron was formed in 1985 when Inter North acquired Houston Natural Gas.Enron was an energy company that grew to be the jobber for energy companies that allowed them to interchange energy contracts. Their growing was really impressive and the concern expanded into other aspects including Internet services. Enron had created over 3000 particular purpose entities in between 1993 to 2001. Particular Purpose Entities ( SPEs ) are defined as entities formed for some specific intent or activity. The primary intent of making an SPE is to take assets and liabilities from the balance sheet of the patron thereby unnaturally bettering purchase, return on plus and return on equity ratios. These SPEs were besides established to maintain Enron s recognition evaluation high, which was really of import in their Fieldss of concern. Because the executives believed Enron s long-run stock values would stay high, they looked for ways to utilize the company s stock to fudge its investings in these other entities. As Enron grew, they needed to borrow more and more money. To maintain the debt off of Enron s books, they began to make spin out organisations that were used to conceal over $ 600 million in losingss that were genuinely created by Enron. By concealing their debt, Enron looked like a really successful company. Until October 22nd, 2001 when the Securities and Exchange Commission ( SEC ) announced they Enron was under probe. The first ground for the prostration of the company was that the company was leveraged through debt. The second was the autumn of the stock monetary value. This caused issues with their debts and resulted in recognition downgrades. The 3rd phase was the increased cost of borrowing due to the recognition down classs that caused liquidness issues for Enron. Throughout 2001, there were several cases that would hold drawn ruddy flags to the approaching death. Fortune Magazine ran several articles that questioned the company s debt procedure and methods of bring forthing income. In August 2001, Jeff Skilling placed his surrender from CEO. Then, in October 2001, Enron came out with losingss over $ 600 million. Ironically, that is the same sum that was being sheltered under Chewco Investments. After registering for chapter 11 bankruptcies in December 2001, the U.S. Justice section began a condemnable probe. The originative accounting patterns provided by Arthur Anderson ( AA ) can besides be included in the autumn of Enron. As their hearer, AA was an extension of the Enron organisation. In October 2001, AA destroyed about all of Enron s books. Arthur Anderson had helped Enron to organize the spin out organisations and conceal their losingss. All of these behaviours between Enron and Arthur Anderson were grounds for the autumn of Enron. Enron was exposed for their immoral patterns and non merely was the organisation held responsible, but the persons involved were excessively. There are specific organisational behaviour theories that could hold predicted Enron s failure such as the debt that was hidden under other concerns or the alterations in upper direction with no clear ground being provided. In add-on to the organisational behaviour the leading, direction, and organisational constructions contributed to the public failure of one of the largest companies in the universe. Their accounting house, Arthur Anderson, was non guiltless in the dirt whatsoever. In the terminal, leaders and directors from both organisations paid the monetary value for the muss that they had created. Not merely were the organisations held responsible, but several persons reaped the reverberations as good. This state of affairs shows the huge impact that leaders and directors have on an organisation. They can command whether an organisation acts ethically or if the organisation becomes avaricious and does whatever necessary to be profitable and viewed positively in the public oculus. Enron involved in partnership concern trade with its assorted SPEs. The trades with CALPERS, ZEDI, RAPTER, CONDERS were those trades and the accounting intervention of those minutess, were responsible for inevitable death of the Enron Company. Outline1 Deals with Bird of preies2 Deals with Condor3 Accounting intervention of the Enron s trades with Raptor and Condor4 A5 A6 Mark-to-market accounting scheme:7 Capital stock dealing8 Gross acknowledgment9 Acknowledging additions in the value of Enron s common stocks10 Accounting revelation11 A12 ( 200 words ) Deals with Bird of preies Enron had created a partnership taking to purchase and sell stocks of other companies. Enron lent the partnership $ 500 million in Enron stock to run Raptor and besides guaranteed the burden by assuring to give more stock if Raptor was unable to refund the loan. Raptor issued a note to Enron that Enron considered assets. Raptor so bought stock in companies like Avici, a shaper of high-velocity net-working equipment, and the New Power Company. Enron treated the loan to Raptor as an assets and claimed net income on the lifting value of Raptor s retentions. The dealing worked until the stocks of the companies owned by Raptors fall down. Bird of preies could non pay the loan. Enron was obliged to cover the Raptor s loan as it guaranteed for that, it had to publish more and more portions although its ain stocks were worsening. Deals with Condor Condor is another SPEs. The executives of Enron created another partnership called condor to sale and purchase the assets in the best possible monetary value. Condor was established to purchase assets from Enron. Enron had lent the partnership portions to Condor of Enron s stock. Accounting intervention of the Enron s trades with Raptor and Condor Bird of preies were non controlled by an independent party which possessed the significant hazards and wagess of ownership, so these entities were portion of Enron and should hold consolidated into Enron s ain fiscal statement. But Enron recorded all the addition or losingss including all the hedge minutess of its SPEs entities and did non consolidate it into its fiscal statements. Enron executives structured the trades so that losingss would non demo up as net incomes, but alternatively as decreases of stockholder equity that had no consequence on the income and net incomes statements. Enron recognised $ 800 million in hard currency flow from condor. In fact Enron should alternatively hold been accounted for as an issue of stock, But Enron counted it as hard currency flow. Although some inside informations are still cloudy, one thing is clear: Arthur Andersen, Enron s outside comptroller, is in large problem, and it ( or its insurance companies ) will hold to fork over large vaulting horses. Andersen s large job stems from a company called JEDI as in Star Wars that Enron now says should hold been on its books since 1997. Andersen allowed JEDI to stay off the books for old ages. The other trade, affecting a company called Raptor, caused the net-worth disappearing that set Enron on the route to destroy. JEDI stands for Joint Energy Development Investments. It was a partnership between Enron and the California state-employees pension fund, known as Calpers. The Force was with Enron, which invested the money $ 250 million each from itself and Calpers in power workss, energy stocks and such, doing more than 20 per centum a twelvemonth. Pretty neat. In late 1997, Calpers was willing to put $ 500 million in a new partnership, JEDI 2. But it wanted to first hard currency in its JEDI 1 french friess, deserving $ 383 million. Alternatively of merely neutralizing JEDI, Enron got cunning. ( I m non certain why. Enron declined to notice. ) It went looking for an foreigner to fork over $ 383 million and take Calpers s topographic point. Enter something called Chewco Investments as in Chewbacca of Star Wars celebrity. Chewco was a partnership of Enron employees and some unrevealed foreigners. ( Who they are and how much they made is a enigma, because Chewco is a private entity. ) Chewco s investors did nt hold a trim $ 383 million. So Enron Lent Chewco $ 132 million and guaranteed a $ 240 million loan that Chewco took out elsewhere. Enron was therefore at hazard for its ain JEDI interest and basically all of Chewco s. That being the instance, it s a enigma why Andersen allow Enron maintain JEDI off its books. Accounting experts who have looked at this dealing, which Enron disclosed last month, merely agitate their caputs. Andersen has refused to notice, stating it s excessively early to make decisions. Enron has restated its net incomes dating back to 1997 because it says JEDI should hold been on its books since so. Think what? The restated net incomes are far lower than the original 1s. Now, to the trades that sank Enron. As in JEDI, Enron wo nt notice. These minutess involve four companies called Raptor. It looks like the Raptors were set up to allow Enron utilize fiscal gymnastic exercises to acquire additions from stocks it owned without really selling them. The major retentions were Rhythms Net Connections, a now belly-up start-up telecom company, and NewPower Holdings, which competes with established power companies for clients. At their tallness, Enron s interest in these companies totaled approximately $ 2 billion. Friday s value: about $ 40 million. Enron wo nt state why it did nt merely sell the stock and take its net incomes. The most logical account is revenue enhancement turning away. Now, the key to Enron s undoing. The company committed to set $ 1.2 billion of Enron stock into the Raptors to do them more responsible. It did nt assure a fixed figure of portions it promised $ 1.2 billion worth, irrespective of the portion monetary value. A earnestly dense move for a company that talks about fudging hazards. In return for that committedness, the Bird of preies gave Enron $ 1.2 billion of promissory notes. Enron put them on its balance sheet as an plus. When a company adds to its assets and nil else changes, its net worth rises. Hence, Enron marked up its cyberspace worth by $ 1.2 billion. But as the stock monetary values of Rhythms, NewPower and Enron all sank, Enron faced holding to fork over a catastrophic figure of new portions. So Enron paid $ 35 million to the Raptors outside investors yet another cryptic partnership and liquidated the Raptors. That eliminated the notes, which eliminated the aforesaid $ 1.2 billion from Enron s net worth. That set off the now celebrated October tally on Enron s recognition, which finally led to bankruptcy. Now, far excessively late, Enron says it should nt hold counted the notes as assets. Animal Cruelty leads to Human EssayConsequence of this fraud Effect ( reply for this is there portion value dropA from $ 90 to merely for 10cents and they got bank crupt ) andmany more consequence s Sherron S. Watkins was frailty president of Enron. It was her responsibility to look rapter and condor SPEs ( really partnerships ) work. happening frauds in these 2 dealingsA and no opportunity of flight, she worte letters to Ley but she was threanted to disregard and leters were kept hidden.A A A company may enter additions and losingss on minutess with the SPE ; nevertheless the assets and liabilities of the SPE are non included in the company s balance sheet. Enron executives structured the trades so that losingss would non demo up as earning s losingss, but alternatively as decreases of stockholder equity that had no consequence on the income and net incomes statements. There are several constructions used by Enron for its accounting patterns. One of them was to utilize SPEs to sell A?financial assetsA? ( a debt or equity owned by Enron ) at the terminal of a fiscal accounting period in order to better their fiscal ratios and standing. The secret contracts between Enron and the SPEs gave Enron the right to purchase portions of the SPEs. This ensured Enron control of the SPEs. Mark-to-market accounting scheme: Enron had implemented the Mark-to-market accounting scheme. It is the accounting scheme that, the monetary value or value of a security is recorded on a day-to-day footing to cipher net incomes and losingss. Enron counted the projected net incomes from long-run energy contracts as current income, but it non did non reflect the true economic value. All the income was estimated as the present value of net hereafter hard currency flows. Mark to market scheme counted the future income as current income that increased the fiscal net incomes nevertheless in future old ages ; the net incomes could non be included. To maintain the concern growing and the investor s Trust over the concern, company should include extra income from its new undertaking at any manner. So Enron did it through its SPEs. Capital stock dealing The dealing of issue of portion by company should non normally be recorded an increased to stock holders equity until hard currency payment for the portion is received. Enron issued portion to its SPEs in exchange for notes receivable. That accounting intervention merely overstated the notes receivable and portion holder s equity. Enron used its ain common stock to capitalize SPEs. Gross acknowledgment Enron recognised largely from long term contracts where the value of the contract was determined based on subjective grade to market ( MTM ) scheme. It did non calculate the just value of a fiscal instrument when there was no active market for it. Furthermore Enron recognised gross originating from an addition in the value of its ain portion utilizing the equity method of accounting. Acknowledging additions in the value of Enron s common stocks Enron had had partnership with its SPEs. Enron had given partnership portions to those SPEs. One of them ZEDI held 12 million portion of Enron stock, which was carried at just market value. Increased in the menu value of those portion monetary values, Enron recorded it as income utilizing equity method. But Enron did non recorded losingss while ZEDI portions declined. That means Enron was recognizing the increasing value of its ain portions as gross but losingss were non. Accounting revelation The accounting and the fiscal revelation that Enron had made was non equal. Particularly contracts that made with its SPEs, there was no systematic Procedure that could specify about dealing made with related parties. Enron entered into a series of affecting a 3rd party LJM in June 1999, but the e consequence of the dealing was non clearly disclosed to its investors, employees and other stakeholders. Question 3: three. The overruling basic rule of accounting is that if you explain the accounting intervention to a adult male in the street, would you act upon his puting determinations? Would he sell or purchase the stock based on a thorough apprehension of the facts? If so, you best present it right and/or alter the accounting. My concern is that the footers do nt adequately explicate the minutess What is the context of this remark by Watkins? Why footers do non adequately explicate minutess? ( 6 Markss ) ( Around 350 words ) Watking who is my hero once more points out one more thing FOOT NOTES really its non easy to understand all the dealing in the accounting for all the comptrollers as good so we ever use footers to explicate how the above dealing was carried out .. but ENRON footers did non explicate anything adequatley .. which is picked by Watkins and the chief ground pes notes was non explain right . beacuse of the sham . creative activity of all the dealing which did non had any value this is what we need to explicate while replying this inquiry . 3. On the electronic mail of Watkins to Lay, she commented that the footer made on the dealing was non equal and did non give proper information to its related parties. Particularly the dealing made with SPEs ( Raptor, ZEDI ) , it was non appropriate and transparent. The footers did non explicate decently about what dealing made with those SPEs, what the consequence behind the minutess and so many other accounting and funding footings. If those footings are decently explained so, investors would cognize that the entities that Enron keeping are thinly capitalised. Furthermore they would cognize all the value in the SPEs come from the underlying value of the derived functions and Enron stock. But the footers revelations of above minutess at amalgamate statements were obscure and hard to understand. The Enron fiscal statement revelation did non state everything about the dealing that was made with its SPEs. The substance of the minutess that Enron entered into was hard to separate from the footers to the fiscal statements, and since merely the signifier of the minutess was reflected on the face of the fiscal statements, it was hard for investors and creditors to obtain a clear position of the fiscal place and consequences of operations of Enron. Question 4: Watkin s memo refers to Arthur Anderson A ; Co ( AA ) at several topographic points. How was their function as hearers of the company? Critically explain. 5 Marks ( Around 300 words ) ( Arthur Anderson A ; his company was really the hearer of the ENRON .. and he used to acquire $ 50million in a twelvemonth .. to do all the fraud studies in right order .. What Arthur Anderson did that he sacked some of his good hearers purposly .. and so these hearers were hired by ENRON .. all harmonizing to Plan so outside media does non cognize anything .. all the hearers which were now in ENRON worked harmonizing to instructions of Arthur Anderson .. and that was it . ENRON neer had a job in fiscal statements as they all were in the same boat .. this is wat we need to explicate inthis inquiry ) A Arthur Anderson A ; Co ( AA ) was non merely the hearer of Enron ; it provided confer withing services every bit good. Arthur Anderson A ; Co was paid $ 52m including A ; 27m for confer withing and remainder for scrutinizing in 2000 by Enron. Arthur Andersen became so reliant on the combined service grosss of these clients that they discredited the cardinal rules of the accounting/auditing profession. The relationship between Enron and Andersen developed so much that Enron were able to exaggerate gross by close to $ 600 million over a figure of old ages, before its prostration in December 2001. Andersen did non carry through its professional duties in connexion with its audits of Enron s fiscal statements, or its duty to convey to the attending of Enron s Board ( or the Audit and Compliance Committee ) concerns about Enron s internal contracts over the related-party minutess . On June 15, 2002, Andersen was convicted ofA obstructor of justiceA for tear uping paperss related to its audit ofA Enron, ensuing in theA Enron scandal.A Nancy TempleA ( Andersen Legal Dept. ) andA David DuncanA ( Lead Partner for the Enron history ) were cited as the responsible directors in this dirt as they had given the order to tear up relevant paperss. Critics suggest that Enron s prostration was backed up because hearer Arthur Andersen was gaining every bit much from confer withing as from scrutinizing. They believe this factor created an inducement non to dispute the energy company s fiscal statements ( Drinkard, 2002 ) . Barefoot ( 2002 ) besides agrees that the hearer s independency was compromised. However, Barefoot ( 2002 ) besides argues that the Board of Directors set aside the company s ain moralss policy in order to allow the questionable fiscal minutess. She states that legal and conformity jobs about neer originate unless senior executives have tolerated, and even created a clime in which disobedience can happen. While critics believed that a struggle of involvement was a major lending factor to the catastrophe, . So while the populace are indicating the finger of incrimination at Arthur Andersen, the experts are connoting that Enron s senior executives should hold been pointed as harshly. Decision: ( 200 words ) There are rather a figure of lessons that can be learned from Enron to forestall these dirts from go oning. First, ethical civilizations must be well-fortified so that among employees, clients, providers and investors will hold higher grades of satisfaction and trueness. Ethical motives must be looked from both moral-rights and justness positions. In organisations, this construct that includes the right of employees to reject unethical actions must be practiced. This is to guarantee that employees are ever protected in rights of privateness, picks, wellness and safety. Besides that, we must handle people impartially and reasonably, harmonizing to legal regulations and criterions. Procedural justness must besides be applied so that policies and regulations of the organisation are reasonably administered. Next, the 2nd lesson learned from Enron s failure is rigorous regulations must be enforced and imposed on companies so everything can remain in order. Certain techniques to make so include making comprehensive policies around corporate administration, inventing systems to portion informations across conformity paperss to avoid duplicate of work, such as finance sheets, set uping clear lines of duty so that both employers and employees know what is their country of duties, and doing those procedures portion of a company s civilization. These wide guidelines can assist guarantee that dirts such as Enron s would non go on once more. Besides that, lessons that can be learned form Enron s failure is to be careful on doing the right or incorrect pick, as there is ever a first knowing trip. This first trip frequently involves a little evildoing, but none are more of import ; because this little via media or minimum evildoing will about ever lead to worse behavior. Once you step over the line, it is hard to travel back to the right class. In Enron, because a director made a bad determination, so he tries to cover it up. In fact, he should seek to work out that job critically, whether it is revenue enhancement frauds or corporate discourtesies, otherwise, after the first trip, it ever gets easier and easier to go on these misconduct. Finally, the lessons that can be learned form Enron s failure is learn to be satisfied with what you have lawfully earned, as greed is a barbarous frailty that can destruct you. If you judge success in life by what you can roll up, you will neer be to the full content, as person will ever hold more, your kids or others will ever desire more from you, and hence, you will neer hold plenty. It is in the human nature to be avaricious, but non until you have to take illegal actions to gain it. See this illustration, directors in Enron such as Jeffrey Skilling wanted to do more money and at the terminal, they received their penalties. Skilling was sentenced to 24 old ages in prison in October 23, 2006. In decision, we must make everything in all cost to forestall from these things to go on once more, so that there will be no unethical direction to be practiced once more.