Kenneth Lay, CEO, hired McKinsey & Co. to help in developing Enron’s survival business strategy. A gas pipeline company climbed its way into the world’s largest energy-trader by scamming investors, the accounting Enron scandal was a real systematic manipulation of fiduciary rules to create an illusion of a very successful company. The accounting Enron scandal that lead to the Enron collapse was due in great part in the activities of their C.E.O., Jeffrey Skilling. There are three specific ways in which the accounting Enron scandal occurred by misrepresented figures on its financial statements.

The accounting Enron scandal case was broadcast on television news for months in 2002. The accounting Enron scandal story was around the news for a period before and after the downfall of the company.

The accounting Enron scandal, however, was and is an important development for American society. This paper examines the accounting Enron scandal from a perspective of ethics in management. The phrase ethics in management in management is an unfortunate one. It implies that the set of ethical principles applicable in corporate management may be somewhat different from the application of ethical principles in other societal endeavors. Es in the trading of energy market was the manipulation of prices to created inflated and unwarranted profits for Enron at the expense of utility companies and utility consumers.

Ultimately, however, the inflated profits contributed to the creation of a false representation of Enron’s performance that created financial benefits Enron selected executives at the expense of investors and the public. Similarly, the immediate intent of deceptive accounting practices involving Enron and fictitious business entities was to shield from investor and governmental regulators the fact that Enron was not a profitable company as was being reported publicly. Additionally, however, the deals between the company and fictitious entities diverted large amounts of money from the company to selected high-level executives at Enron. These behaviors were injurious to Enron employees, investors, and consumers (Axtman & Scherer, 2002). One may attempt to assess the behaviors of the offending Enron executives (all at senior levels of the organization) within a framework of business ethics. The accounting Enron scandal will go down in history as one of the most notorious case for American society.

Accountancy is a branch of management which studies, how an organization tracks its income and expenditure over a course of time. Accounting plays a key role in presenting a good financial image of an organization by properly balancing its books on regular basis. Apart from balancing books on a regular basis which is essential for any organization, it gives a clear picture of expenses incurred, profits earned and help evaluate plans and make financial plans and budgets for the future. Every organization relies heavily on their accounting department and accounting firms to play the role of balancing books and keeping the finances under control and provide the organization with financial stability.

Accounting is the most important aspect of any business; hence there is a lot to learn, in an accounting profile, especially how a business really works. If you aspire to one day climb to the top of the management hierarchy and see yourself a CFO [Chief Financial Officer] or an MD in the next 15 – 20 years probably, then ccounting profile, provides you the kind of challenges and opportunities that will groom you to reach those heights. It is no coincidence that most modern day CFOs, CEO’s and MDs of top companies and financial firms come from an accounting background.

Accounting jobs are always in demand such is the nature and significance of the work. If you are looking to kick off your career as a fresher, then most probably you join a small or a medium size accounting firm as an accounts executive. While the compensation might not be the best, you will reap benefits from the training you will receive and experience while working with them. Instead of an accounting firm, you can also opt to join internal accounts department of the firm. This will provide you job stability and will give an opportunity to understand the business and grow within the organization.

If you are an MBA or have a post-graduate degree specializing in finance, then you might as well opt for starting your career as a junior financial researcher in a firm. For recent graduates who have also done their internship starting as a junior financial researcher in any firm would provide the perfect platform to gain experience and learn. The profile requires the candidate to have sound analytical and research skills, with profound ability to solve quantitative and numeric problems and ability to understand the financial market. If you are recruited from your college campus, then your grades and internship credits also play a vital role here.

Now, we look at the most prestigious accounting job profile, which offers lucrative benefits and higher compensation packages, a CA or Chartered Accountant profile. As we understand, there is a high
demand of CAs in today’s market and most firms are prepared to cut down their hiring as a part of cost cutting and looking to hire CAs on temporary, contract or even freelance basis, a more reliable resource, giving rise to a sudden boom in this sector. CAs are different from normal accountants, as they have to clear a 2 year program of chartered accountancy and have to work under a mentor for atleast 3 years. Chartered Accountants not only get excellent monetary benefits, but it provides a great platform to learn under the guidance of a mentor, which will play a significant role in future growth.

For beginners, who wish to choose as their careers, there are specialized accounting courses recommended which will benefit aspiring professionals. For candidates with high aspirations, investments and securities and also an expert in quantitative techniques for analyzing financial trends, markets and products. CFA is a prestigious degree and it is highly recommended to take a step further in their career in senior positions as a security researcher or financial advisor.

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