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- All Subjects: Simulations
- Creators: Ahmad, Altaf
- Creators: Cook, Alexander Charles
Description
Financial statements are one of the most important, if not the most important, documents for investors. These statements are prepared quarterly and yearly by the company accounting department, and are then audited in detail by a large external accounting firm. Investors use these documents to determine the value of the company, and trust that the company was truthful in its statements, and the auditing firm correctly audited the company's financial statements for any mistakes in their books and balances. Mistakes on a company's financial statements can be costly. However, financial fraud on the statements can be outright disastrous. Penalties for accounting fraud can include individual lifetime prison sentences, as well as company fines for billions of dollars. As students in the accounting major, it is our responsibility to ensure that financial statements are accurate and truthful to protect ourselves, other stakeholders, and the companies we work for. This ethics game takes the stories of Enron, WorldCom, and Lehman Brothers and uses them to help students identify financial fraud and how it can be prevented, as well as the consequences behind unethical decisions in financial reporting. The Enron scandal involved CEO Kenneth Lay and his predecessor Jeffery Skilling hiding losses in their financial statements with the help of their auditing firm, Arthur Andersen. Enron collapsed in 2002, and Lay was sentenced to 45 years in prison with his conspirator Skilling sentenced to 24 years in prison. In the WorldCom scandal, CEO Bernard "Bernie" Ebbers booked line costs as capital expenses (overstating WorldCom's assets), and created fraudulent accounts to inflate revenue and WorldCom's profit. Ebbers was sentenced to 25 years in prison and lost his title as WorldCom's Chief Executive Officer. Lehman Brothers took advantage of a loophole in accounting procedure Repo 105, that let the firm hide $50 billion in profits. No one at Lehman Brothers was sentenced to jail since the transaction was technically considered legal, but Lehman was the largest investment bank to fail and the only large financial institution that was not bailed out by the U.S. government.
ContributorsPanikkar, Manoj Madhuraj (Author) / Samuelson, Melissa (Thesis director) / Ahmad, Altaf (Committee member) / Department of Information Systems (Contributor) / School of Accountancy (Contributor) / Barrett, The Honors College (Contributor)
Created2016-05
Description
Separation of carbon dioxide and methane for the upgrade of natural gas through use of pressure swing adsorption could potentially save large amounts of energy from the current, costly process of cryogenic distillation and provides greater cost effectiveness for carbon dioxide capture, and provide larger product flowrates than membrane permeation separation. The purpose of this study is to analyze the effects of varying initial conditions of a MatLab simulation, courtesy of Mai Xu, a graduate student at ASU, designed to use Langmuir isotherms, mass transfer equations, and adsorbent and gas properties to simulate a pressure swing adsorption process with a mixture of methane and carbon dioxide gas feed. The effects that will be varied are the adsorption/desorption time, pressurization/depressurization time, adsorption feed composition, desorption purge composition, adsorption pressure, desorption pressure, adsorption flow rate, and desorption flow rate. The study found that the trends in methane purity and production generally follow the trends predicted by literature and relevant equations, with pressure boundaries being the largest impacting factor. In addition there was a markedly inverse correlation between purity of methane product and the productivity of the system. This trend was only violated in one instance, at very low vacuum pressure during desorption, which could indicate an area that requires further study. Overall, the main areas of improvement in pressure swing adsorption for this system would be improving the selectivity of adsorption of carbon dioxide over methane, which requires improvement and change of the adsorbent, and more extreme vacuum pressures during desorption, both of which will increase methane yield and reduce operating costs.
ContributorsCook, Alexander Charles (Author) / Deng, Shuguang (Thesis director) / Mu, Bin (Committee member) / Chemical Engineering Program (Contributor) / Barrett, The Honors College (Contributor)
Created2018-05