This assignment provides you with an opportunity to explore the critical practices of accounting and finance within business, and you are asked to do so in the form of an article review. The title of one article has been provided below, and this article will be the basis for your article review. Locate it within the online library by following the steps below:
1. Click here to open the online library.
2. Locate and click on the database titled ABI/Inform Complete.
3. Then, search for the article by typing the following title into the search field (you must include the quotation marks): “Andersen implosion over Enron: an analysis of the contagion effect on Fortune 500 firms”.
4. Finally, locate and click on the link labeled Full text.
After reading the article, draft a two-page paper by explaining what you learned about accounting and finance. You can include any reflections related to the article; however, address in paragraph form at least the following in your two-page paper:
What specific actions (or lack of) led to Enron’s bankruptcy?
What types of fundamental accounting and auditing practices eventually contributed to the fraud performed by Enron?
Briefly describe the ethical environment that led to the fraud.
How did Enron’s bankruptcy impact the financial markets for Enron’s competitors?
Briefly describe what you learned about the importance of the auditing process.