The company I chose to analyze is WorldCom. This company based in Mississippi had recognized that for several years it has been bloating or increasing their earnings through booking about $3.8 billion expenses as long-term investments rather than operating costs. They did that by posting operating expenses such as salaries and wages as long-term investments on the balance sheet while those costs should have been expensed and posted to the income statement. When they did that‚ they overstated assets
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Unit 8 Assignment Ruth Name Kaplan University Testing‚ Measurement‚ and Assessment PS505-01 Professor Name October 13‚ 2013 Abstract In this paper‚ the historical facts are given‚ as described by both of the authors Meyer and Kurtz. To illustrate‚ the results are revealed‚ as the search for a better distinction of the historical use‚ and descriptive terminology of the words‚ "objective" and "projective" begins to take form. First‚ the journey begins with the two authors‚ Meyer and Kurtz‚ since then
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In my opinion‚ Cynthia should not hire Steve Ripley. As well as being in a minority population as Steve is in the company‚ Cynthia had put great empathy into consideration when deciding on the promotion case. While it seems not fair to raise a less qualified trainee rather than a more competent one just because of race‚ it would be truly unfair to put an employee in a position that his or her failure is destined. From the following paragraph‚ I am going to explain the exact three reasons why I think
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Cynthia was scared to go to 4 hour. Her head was vomiting emotions. At one minute she was joyful. And at the next minute she would be crying like a dog. miss Burley specifically said to read pages 34 to 54‚ And to write notes. I wanted to make up an excuse that my mom’s car broke down and My notes flew away in thin air. But that wouldn’t work anyway. 3rd hour came and I was frightened. I was biting my nails so bad that I bit my finger. OUCH‚ everyone looked at me in a very confused face. My teacher
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The film is a comedy about three women seeking justice after their husbands became successful and divorced them for younger women. Brenda‚ Elise‚ Cynthia and Annie were close friends in college‚ but after graduation from Middlebury‚ they lost touch with one another for 27 years. When Cynthia committed suicide after her ex-husband married a much younger mistress‚ the other three women met at her funeral for the first time since college. Seeing that their friend grew unhappy after her husband left
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it’s about the massive disappointment and the mistakes‚ and what you learn and what you don’t learn when you should learn. A lot of this movie is going to be surprising to people. This is a grown-up movie.” So‚ what’s the theme of the movie? (Cynthia) – “I would say that the theme of the movie is love and forgiveness‚ and because it’s four women‚ we have four different ways to love and forgive. It’s about the fact that you’re always making mistakes.” How are your characters like? (Sarah) –
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Why is it important for external auditors to be independent? Relate your answer to the primary role of external auditors? By Zachariah Godfrey-Plews This essay has asked me to look at the importance of external auditors and why it is vital for them to remain independent. I will try and look at the many ways of the advantages of independent auditing from different perspectives for example the company itself‚ the general public and the state. I think it is important to first define what an audit
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merging due to the industry consolidation‚ therefore forcing MCI to keep up with its competition. MCI was acquired after a bidding war between WorldCom‚ British Telecom and GTE‚ with the winning bid being a $37 billion offer from WorldCom. MCI-WorldCom then acquired many other communication companies excluding Sprint due to a U.S. Justice Department ruling. WorldCom operated throughout its filing of bankruptcy‚ resulting with MCI being not only the surviving company‚ but one of the most extensive networks
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risk arbs take in this deal? How would their positions change if the Board appeared to favour the Qwest offer? 4. Consider the WorldCom-MCI merger and the Qwest-US West merger? Trying to avoid hindsight bias‚ should the boards of MCI and US West have accepted these offers? What is the obligation to shareholders? Was that obligation fulfilled? What about WorldCom and Qwest? Did their shareholders benefit? 5. What offer should MCI accept? 6. What approach should Verizon take to win the
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they had destroyed a number documents concerning its audit on Enron which had filed bankruptcy in late 2001. The destroyed documents had led to an indictment for obstruction of justice on March 14‚ 2004. Further scandals surfaced and this time is WorldCom where they blame Andersen for failing to find the accounting irregularities however Andersen blame for the scandal insisting that the expense irregularities had not been
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