Worldcom appeared to be a great success story. However‚ the success began to unravel with the accumulation of debt and expenses‚ the fall of the stock market‚ and long distance rates and revenue. It would take 2 years for the extent of these problems to become public‚ and accounting scandals like that of Worldcom would make history in the finance and telecommunication areas. While the intent is to make money to benefit a person or a group of people through illegal acts while disguising their illegal
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Bernie Sanders: Make America Great Again Bernie Sanders started off his career as the mayor of Burlington‚ Vermont. Mr. Sanders served four terms of acting mayor. Adding to his government occupation list‚ Bernie distinguished himself as one of the country’s few independent legislators. Bernie Sanders‚ one of America’s recent presidential candidates‚ is simply the best option for the occupation of the United States 2016 President based on the fact that he has experience in government‚ and he has great
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The story " I Go Along‚" by Richard Peck‚ is about a boy named Gene who has changed his attitude while going on a class trip to see a poet. Throughout the story‚ the title is relative in various ways to the context of the story itself and represents many themes‚ such as dependence and conformity and most importantly‚ the idea that it is vital to make decision based on your own thoughts instead of following the crowd. By looking at the title of the story‚ "I Go Along‚" the readers can directly
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Recognition Principle states that an accountant should acknowledged revenue because it is the principle that deals with what has been earned in the accounting period. 3. Rick Marsh‚ a lawyer‚ accepts a legal engagement in March‚ performs the work in April‚ and is paid in May. If Marsh’s law firm prepares monthly financial statements‚ when should it recognize revenue from this engagement? Why? Rick should recognize revenue in April because this is the month that the revenue was earned. Reason being is that
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7/22/13 WorldCom Search » Ethics Home Page About the Center Focus Areas Bioethics Business Ethics Campus Ethics Character Education Government Ethics Internet Ethics More... Publications Ethics Articles Ethics Cases Ethical Decision Making Videos Ethics Blogs Podcasts E-letter/Subscribe Contact Us Site Index WorldCom1 By Dennis Moberg (Santa Clara University) and Edward Romar (University of MassachusettsBoston) An update for this case is available. 2002 saw an unprecedented number of
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Should accountants have a more significant role in corporate decision-making? In the changeable world with dynamic economic situation and fluid market information‚ corporate decision-making is becoming increasingly difficult for many enterprises. Under these circumstances‚ executives and managers are expected to be equipped with accurate‚ related and real-time information and live up to expectations of strong profits and growth (Royaee‚ Salehi and Aseman‚ 2012). Accounting and
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WorldCom Ethical Scandal In the late 1990’s‚ WorldCom was a successful company and leader in the telecommunications world. They had merged with MCI and the company was regarded for being innovative and growth hungry. However‚ in the midst of all the mergers WorldCom CEO Bernard Ebberly began to mismanage the company. WorldCom was no longer meeting their numbers and it looked like stock prices would fall. Rather than letting this happen‚ executives at WorldCom doctored the books. CFO Scott
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Go Along With Motto Good evening‚ ladies and gentlemen‚ A quarter of my college life has almost passed. Looking backwards‚ we need to think two questions carefully. No.1‚ what’s your initial intention to go to the university? For a certificate or the acquisition of knowledge? No.2‚ have you ever cheated in the examination? These are the most common problems‚ but they will effect our own development‚ or even the whole life. Therefore‚ it’s really necessary for us to practice the motto of
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Washington was a very important man‚ not only to American history but to the time period where and when he lived. He grew up as a very smart young man and grew up very wealthy also. He was also very into the outdoors‚ hunting‚ trapping‚ horseback riding and even mapping. Later on in his life these skills will have helped him and his country. In the French and Indian War Washington was chosen to be the leader of the American Army because of how well Washington knew the woods. This war was won by
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[1] What business was WorldCom in? WorldCom was in the business of telecommunications. Where was WorldCom located? WorldCom was located in Clinton‚ Mississippi. Who was the CEO? The CEO was Bernie Ebbers. Who was the CFO? The CFO was Scott Sullivan. What are the names of the two members of the internal audit staff who worked with Cynthia on their secret investigation? Gene Morse and Glyn Smith What made the internal auditors think that possibly there was a need to investigate WorldCom’s
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