The Enron case Study Example | Topics and Well Written Essays - 1500 words

The Enron - Case Study Example d the corporation and it was realized that their reported financial condition was sustained considerably by an institutionalized, methodological, systematic and crafted planned accounting fraud, which was to be known as the Enron scandal. The corporation did this through a complicated arrangement of special purpose entities they referred to as the Raptors. The Raptors were expected to cover their expenses if the stocks in their start-up businesses collapsed. Most surprising is the fact that the corporation took spent 16 years to grow from about $9 billion assets to $60 billion, but only spent about a month to go bankrupt. The Company collapsed so fast and so entirely. In fact it made history as the largest bankruptcy and accounting scandal in American. The absence of truthfulness by management about the company led to their downfall. The overriding benefits and public trust ended immediately. For years the management lied about the financial reporting thus worsening the economic ability. They made employees loos job and lack of investors trust was evident. The senior management team believed Enron had to be perfect in everything it did and that they had to safeguard their reputations and their compensation as the most successful management in the US. Three most common forms of accounting frauds above where witness that led to the downfall of the company. The corporation followed these illegal accounting practices in financing which subsequently ensure the company be valued more attractively and appealing to the investors by the by Wall Street analysts and rating agencies. Most notably was the fact that Enron as a company used various related parties in increment of equity and crafted its financial arrangements using various loopholes in laws. All these was surprisingly was conducted trying to not consolidate into its reports and accounts by at will not fulfilling certain ethical conditions. This was a principle and a plan that proposed by both Andrew Fastow and

Manufacturing Engineering Lab Report Example | Topics and Well Written Essays - 500 words

Manufacturing Engineering - Lab Report Example SafetySince the device may be improperly used and safety of a machinery is the key concern during its functionality; a safety factor of 1.5 was factored in all the calculations. 2.2 InexpensiveThe device must be produced within a strict budget by sourcing for cheap local materials according to the bill of quantities.2.3 Design EvolutionThe first concept generation was accomplished by creating an itemization of the design into the following functional and movable elements; pipes, chains and the support system.The team had a brainstorming session, whereby it was agreed that only the top rated materials will be considered for each functional component in order to develop an alpha design. The criteria for selecting components were based on the cost of the material and its manufacturability.3.0 Engineering AnalysisThe engineering fields that are applicable to the design process are statics, dynamics and materials. The appropriate basics and ideas from statics and dynamics are Newtonâ€⠄¢s law, bending moments, torque and friction. For materials mostly on the pipes and chains, the applicable properties are: fracture toughness, Young’s modulus, corrosion, yield strength and ultimate tensile strength.Newton’s Second law, was necessary to calculate the forces that will be applied to the support while the chain moves up and down while lifting an object. The bending moments, of the motor was calculated to ensure the mechanism does not degrade rapidly and maintain the factor of safety.