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 financial
Enron analysis
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Code
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of professional ethics.
judgments as they apply
of applied ethics and is part

the study of moral values and

to accountancy. It is an example
Accounting ethics is primarily a field

of business ethics and human ethics,

Accounting Ethics
 CODE OF ETHICS
1 2
Integrity Objectivity
3
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Professional Competence and Due Care
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4
Management
Accounting

Accounting Ethics
5

Code of Ethics
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Confidentiality Professional Behavior

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Creative
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Why is Ethics Important in

What Can Result from Poor
Accounting?
It is important that the industry Ethics in Accounting?
itself does not become stigmatized Many negative consequences
as an unethical one, something can result from poor ethics in
that could potentially harm accounting practices
business for all accounting firms.
  Creative accounting refers to imaginative
ways to present accounts. These ways Examples of
deviate from the spirit of accounting Creative
analysis
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Management

Accounting Ethics
Creative Accounting
laws. However, they are not illegal. The
Accounting

Code of Ethics
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aim in creative accounting is to make the

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company appear financially healthier

• Invoicing
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financial
financial
Financial
financial
financial
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Enron
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than it really is.

Earnings

• Service
The aim in creative
accounting is to
Contracts
make the company • Property
look better than it is.
The creative
Values
accountant • Loans
manipulates the
positioning of assets,
liabilities, etc.
 Creative accounting can be used to
manage earnings. The motivations of Creative Accounting
It occurs when managers use
judgment in financial reporting and
in structuring transactions to alter
• Personal incentives
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•
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Bonus-related pay

Earnings Management

Accounting Ethics
Creative Accounting
financial reports to either mislead

Code of Ethics
Analysis

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•
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some stakeholders about the Benefits from shares and share

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underlying economic performance

options
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of a company or influence
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Enron

•
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contractual outcomes that depend on Job security

reported accounting numbers.
• Personal satisfaction
• Cover-up fraud
• Tax management
• Management buyouts
• Debt covenant
• Manager's self-interest
 financial
Enron analysis
Case
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financial
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financial
Financial

statements.
analyses that
are intended to
mislead users of
investors.
purpose of:
concealing the
May be for the

truth; to attract

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Earnings Management
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Code of Ethics
Accounting Ethics
 financial
Enron analysis
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•
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No Background
Real Scams Exposed
The Signs of Trading Scams

Email Spam Asking for Personal Info

profit by trading in the foreign exchange market.

Trading Systems and Education Without Any Proof

Foreign exchange fraud is any trading scheme used to defraud
traders by convincing them that they can expect to gain a high

Forex Scams
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Financial Analysis
Earnings Management
Creative Accounting
Code of Ethics
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financial Ethics
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 Enron employed approximately 29,000 staff
Enron Corporation was and was a major electric, natural gas,
analysis

analysis
financial analysis
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analysis
analysis
analysis
analysis

an American energy, communications and pulp and paper company,

Earnings Management

Ethics
Creative Accounting
Enron Case

of Ethics
Financial Analysis
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with claimed revenues of nearly $101 billion

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commodities, and

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during 2000. Fortune named Enron "America's

Accounting
services company
financial

financial
financial
financial
financial
financial
financial

Most Innovative Company" for six consecutive

Code
years.

At the end of 2001, it was revealed that Enron's reported financial

condition was sustained by institutionalized, systematic, and
creatively planned accounting fraud, known since as the Enron
scandal. Enron has since become a well-known example of wilful
corporate fraud and corruption.