Enron

Paper Summary:

This paper takes a look at the rise and fall of Enron. According to the paper, what was once an oil and gas exploration and pipeline development company quickly evolved into a derivatives trading company. The paper further discusses how Enron, once one of America's top companies, turned to bankruptcy and then became embroiled in scandal, the repercussions of which were felt across America.

Outline:
Executive Overview
Problem Statement
Recommendation

From the Paper:

"The energy industry too was damaged by Enron's unethical business strategies. The energy segment was tainted, in the eyes of investors, following the release of the scandal. Despite rising energy prices, financing simply had disappeared. Organizations such as Aquila withdrew from the energy trading industry, as did El Paso Energy and UBS ("On the Side of Angels" 13). Loss of investor confidence, thanks to Enron, resulted in a significant market contraction that resulted in millions of dollars of losses for organizations. Loss of confidence in American corporations in general sent companies back to their books to double check their numbers. Corporate fraud was foremost on investors' minds. Companies such as MCI/WorldCom, Tyco and Adelphia restated their numbers in an effort to correct any errors and set off whole new chains of corporate scandal reactions."

Sample of Sources Used:

• Kranacher, M. "Financial Statement Complexity: A Breeding Ground for Fraud." CPA Journal 76(9) Sept 2006: p. 80. MasterFILE Premier. EBSCOHost. University of Phoenix, Phoenix, AZ. September 27, 2006 <http://web.ebscohost.com>.
• "On the Side of Angels." Provided - No further reference details given.

More papers on Enron:

• Analytical Essay # 70721 : "Enron Ethics"
• Research Paper # 86670 : "The Enron Debacle"
• Analytical Essay # 71712 : "The Enron Scandal"
• Analytical Essay # 85624 : "Enron and Arthur Andersen"

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