WorldCom Scandal A summary of WorldCom fraud would include having to describe the greed that would eventually destroy one of the largest communications companies in the United States and world. A humble motel owner‚ Bernard Ebbers took a small long distance company in 1983 and turned it into one of the most successful businesses in the country. It was not so much the business operations that caused the company to grow but the aggressive acquisitions that made the company grow. In its day‚ CEO Bernard
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AVOIDING INVESTMENTS IN FRAUDULENT COMPANIES: THE WORLDCOM FRAUD Introduction The purpose of this report is to investigate and discuss the accounting fraud that occurred at WorldCom in order to recommend improved strategies to Berkshire Hathaway’s management for avoiding investments in companies with fraudulent financials. Accounting fraud is a crime committed by high level employees at an organization to manipulate the organization’s financial statements and intentionally disguise company
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The WorldCom Fraud © 2003‚ 2005 by the AICPA This presentation is intended for use in higher education for instructional purposes only‚ and is not for application in practice. Permission is granted to classroom instructors to photocopy this document for classroom teaching purposes only. All other rights are reserved. Copyright © 2003‚ 2005 by the American Institute of Certified Public Accountants‚ Inc.‚ New York‚ New York. WorldCom’s Background • Awoke the sleeping giant by leading the telecom
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WorldCom Scandal Formerly known as WorldCom‚ now known as MCI‚ this U.S.-based telecommunications company was at one time the second-largest long distance phone company in the U.S. Today‚ it is perhaps best known for a massive accounting scandal that led to the company filing for bankruptcy protection in 2002. In 1998‚ the telecommunications industry began to slow down and WorldCom’s stock was declining. CEO Bernard Ebbers came under increasing pressure from banks to cover margin calls on
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Introduction and Case Description We observed the case filed against Dan August Racaza and Hermocillo “Henie” Macaraya‚ who were in that time‚ detained. Before testifying‚ the witness‚ Alvin Clemente‚ a PDEA agent who was part of the team assigned to handle the case‚ took an oath. The witness narrated the story and said an informant went to their office located in Arlandon Street‚ Cebu City‚ about a drug dealing operation happening in Sitio Tunga‚ Barangay Tanke‚ Talisay City‚ relating to Dan
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| Case Study/Reaction Paper | The Stanford Prison Experiment | | Reviewing and Analyzing: The Stanford Prison Experiment The Stanford Prison Experiment was conducted at Stanford University in California from August 14 to August 20‚ 1971. Led by psychology professor Philip Zimbardo‚ twenty-four male students whom were chosen out of 75‚ were randomly assigned roles of prisoners and guards‚ for an investigation into the causes of conflict between military guards and prisoners. According
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Joe Ross Reaction Paper Adult Development PSY6300 Instructor: Pamela Smilo PhD June 27‚ 2010 Reaction Paper Our textbook The Journey of Adulthood by Barbara R. Bjorklund and Helen L. Bee is the study of adult development‚ and it follows the tenets of developmental psychology‚ the field of study that deals with the behavior‚ thoughts and emotions of individuals as they go through various parts of the life span. The field also
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Enron and its Associates Used Questionable Accounting Practices Clearly‚ there have been cases where management knowingly deceived the auditors. Then there seem to be other instances where the accounting treatment envelope was pushed just a bit too far. In the case of Enron‚ David B. Duncan‚ the former Andersen partner in charge of the Enron audit who was the government’s chief witness in the trial against Arthur Andersen‚ stood behind the decisions that resulted in the widespread use of off-balance
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Discursive method in leadership studies This is a reaction paper to Clifton (2012)’s article A Discursive Approach to Leadership: Doing Assessments and Managing Organizational Meanings (Journal of Business Communication‚ p. 148 - 168). In the article‚ Clifton used his findings to contribute to the newly emerged approach in leadership research: the discursive approach. Discursive leadership approach considers that the individuals with the most ability to influence the process of managing meanings
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Angela Adivoso Ayala Museum Reaction Paper On the 9th of February‚ I visited the Ayala Museum with the company of my mother and a friend‚ in the hopes that I could see some extraordinary things from our country’s (and as well as some parts of Asia’s) past – things that we do not see inside the classroom. To get this show on the road‚ I think it would be best to begin by saying that I was not at all disappointed. Starting from the grand lobby of the building‚ we made
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