Assignment # 3 WorldCom Accounting Fraud By Mark A. Cowan Strayer University ACC 499- Accounting Capstone May 15‚ 2011 The purpose of this paper is to discuss the aspects of the WorldCom accounting scandal and the effects that this scandal had on the accounting world as we know it. We will discuss the corporate culture at WorldCom and how it contributed to the accounting fraud‚ how the CEO’s desire to be the #1 stock on Wall Street contributed to the fraud‚ pressures on accountants to book
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JOUR420 Media Coverage of the Government and Politics Final Paper Topic: Coverage on Scandals In light of the latest scandal involving a once well-respected Republican Congressman Mark Foley‚ and under-aged page‚ I felt it was relevant for this final paper to focus on scandals prompted by politicians. Scandals are one of the ‘hottest’ topics that the media thrive on‚ regardless of which decade they materialize in. For the same reasons as why infotainment (or just plain entertainment news) and
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Common themes in Corporate Governance Scandals According to ACCA (2014) “Corporate governance is the system by which companies are directed and controlled”‚ also the corporate governance definition in the ACCA (2014) and Financial Times (2015) are quite different but similar at the same time‚ “How a company is managed‚ in terms of the institutional systems and protocols meant to ensure accountability and sound ethics. The concept encompasses a variety of issues‚ including disclosure of information
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Anna James Case Study: HealthSouth Corporation Scandal Week3 Forensic Accounting: Ethics and Legal Environment Professor Erskine Hawkins HealthSouth Corporation is a large‚ public healthcare company that operates 93 inpatient rehabilitation hospital‚ 49 outpatient rehabilitation satellites‚ six long-term acute care hospitals‚ and 25 home health agencies. According to the company websites‚ it is “one of the nation’s largest healthcare providers specializing in rehabilitation”.5 The company
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Beginning in 2000‚ CMS Marketing‚ Services and Trading Company began to make energy trades that had no economic justification. As stated in the Securities and Exchange Commission cease and desist order ¡§CMS materially overstated its revenues‚ expenses and energy-trading volumes in 2000 and 2001 through the use of undisclosed round-trip energy transactions conducted by its Houston-based energy-trading division‚ MS&T.¡¨ These trades have now become known as "round-trip" trades. CMS issued false Press
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Wk2 Assignment: The Enron and WorldCom Scandals Student Name ACC/260 Date Instructors Name[Page Break] 1. Which segment of its operations got Enron into difficulties? The guaranteed loans that were intended to bridge the financing for investments from outside investors that could not be found would be the segment of operations that caused Enron difficulties. 2. Did Enron’s directors understand how profits were being made in this segment
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received a degree. In Richard Nixons early presidency was he liked or disliked? What do you think are some highlights both during and after presidency? How did the Watergate scandal affect Richard Nixon? President Richard Nixon showed excellent qualities as a president‚ mostly coming from his foreign policy‚ but the Watergate scandal brought his presidency to an end.
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The Watergate Hotel has always been popular among political figures and is well known as the location of one of the biggest scandals in the United States history (“Watergate”). It is because of two ambitious reporters from the Washington Post that Nixon’s dirty work was uncovered for all the world to know. The film‚ All the President’s Men‚ is a classic because the characterization‚ the setting‚ and the theme to never give up on a goal. Actor Robert Redford bought the rights to All the President’s
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Clearly the most historically publicized event involving media revealing corruption is the Watergate Scandal. The Watergate Scandal is an important event of history that was documented by muckrakers and subsequently led to the president of the United States resigning. President Nixon was a paranoid man with many insecurities. He ordered the installation of cameras and recording devices into the Watergate hotel to record the conversations of other political parties. They were eventually caught and
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Redford (“The Way We Were”‚“Butch Cassidy and the Sundance Kid”) and Dustin Hoffman (“The Graduate”‚“Rain Man”)‚ respectively‚ and how they uncovered the Watergate scandal‚ which shook the American public’s trust in the federal government even more than the Vietnam War and the Kennedy assassination. However‚ the film does not focus on the scandal itself‚ but rather the process by which Woodward and Bernstein broke the story. The film is a staple for many journalists‚ and it presents many stereotypes
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