Accounting Scandal Research Paper Example | Topics and Well Written Essays - 1250 words

Accounting Scandal - Research Paper Example â€Å"In 2000, Enron donated $1.76 million to the presidential campaign of the Republican George W Bush† (Davis, 2007, p83). This showed an unhealthy connection between the public sector and the private sector and this came back to haunt the firm and attempt to tarnish the image of some public figures. Kenneth Lay, the chairman of the board of directors and founder of Enron contributed more to George Bushs campaign more than any other person. Although no evidence was found that proved that there was direct bribery from the staff and management of Enron to public officials, many of them were found guilty for their involvement in what became a scandal. This is mainly connected to the overrides of the reporting requirements and expectations that were put in place. Enron maintained a complicated account structure and there was the difficulty of external stakeholders to demand more information and transparency. The management therefore got away with a lot of issues that were unreported and the scandal was eventually exposed by a whistleblower who reported the issue and matter to the authorities for prompt action. Enron used very inappropriate and wrong methods and procedures to record its accounts. Due to the fact that the firm had an influence over the political arena, Enron was able to get away with a lot of its poor and negative accounting practices. Enron used various techniques to provide misleading reports and information about their trading position. Basically, they used the revenue model and this sought to record revenue only and did very little concerning other important and relevant aspects of reporting (Campbell, 2008). This is know as the â€Å"agent† and â€Å"merchant† models of accounting. To this end, Enron created a system through which they set up false and other puppet entities to act as their agents. In this quest, the â€Å"agents† signed contracts and undertook very risky ventures in the name of Enron. These

Why zinedine zidane consider to be my hero Essay

Why zinedine zidane consider to be my hero - Essay Example I believe that Zinedine Zidane is the greatest football player of the modern era because of the way he could control a football. He is only one of two players to win the FIFA World Player of the Year award three times (Ronaldo being the other). At club level, he won trophies in three major leagues: France, Italy, and Spain. However, in my opinion, his greatest ever triumph came in the French shirt at the 1998 FIFA World Cup. In the final France were underdogs against a highly fancied Brazilian side. On the day, Zinedine Zidane stepped up to the mark and scored with two headers, resulting in a 3-0 French win. A couple of years later, Zidane also won the EURO 2000 title, helping the French team defeat the Italians in the final. I grew up watching Zidane at the peak of his powers, and I would argue that no one has since been able to reach such heights. In the 1998 FIFA World Cup, the tournament was being hosted in France for the first time in 60 years. France had yet to win a World Cup, so there was great expectation that the team would finally bring home the trophy. At this time, France was becoming a more multi-cultural nation, with numerous African immigrants settling in the country. Even though Zidane was born in Marseille, he had Algerian ancestry. He was thus the ideal person to lead the French nation into a new era. Once the French team became world champions, the nation rejoiced for weeks. Zidane became an instant hero overnight and helped to unite the French people as a result. For many African immigrants, Zidane was the ultimate role model; he came from an Algerian background but was able to become one of the most respected people in French society. To this day, I look up to Zidane as someone who can unite a nation in joy and happiness. Finally, I appreciate Zidane for all the charity work that he has done since his retirement from football. Zidane has participated in charity football matches in