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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The Scarlet Letter Scandal Scandals are seen in everyday life and throughout history. Scandal is something that brings about shame or disgrace to a community or individual. People document many scandals‚ and put them in newspapers‚ on television‚ the radio‚ and they even wrote books about it for others to enjoy. In today’s media we see celebrities “shunned” all the time whether it’s something as small as a bad wardrobe or bad habits they have to their crimes like one of the most notorious American
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Speed Scandal Speed Scandal directed by Hyeong Cheol Kang delivered a heart warming‚ crafty humorous family film‚ which captured all audiences’ heart in 2008. Digging deeper into the film and analyzing the examples of family values and celebrity social status‚ Speed Scandal effectively shows the authentic Korean pop culture and how they are highly valued in Korean society. Hyeoung Nam (played by Cha Tae Hyeoung)‚ was just an ordinary wealthy man working at a Dj radio station. Hyeoung’s life
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The Credit Mobilier Scandal was illegal manipulations of contracts by a construction and finance company associated with the building of the Union Pacific Railroad in 1865-1869. This incident established Credit Mobilier of America as a symbol of post- Civil War corruption. Credit Mobilier was part of a complex arrangement where a few men contracted with themselves or assignees for the construction of the railroad. Trustees and certain manipulators got extremely large profits but impoverished the
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Professor Mark Scheinbaum Advance English 17 June 2013 The IRS Scandal in the USA: How could the government of the USA overlook the signs leading up to the IRS (Internal Revenue Service) Scandal? The IRS is an institution that should be non-partisan‚ however it has been proven through congressional hearings‚ admissions‚ and documentations of several kinds that something went very wrong and many specific groups applying for tax exemption status‚ with different ideologies than those of the
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The Bernard Madoff “Ponzi Scheme” scandal was the biggest and lasted the longest financial fraud in the history of the US. Bernard Madoff was a financial adviser‚ and also the former chairman of the NADAQ. He established his investment firm named “Bernard L. Madoff Investment Securities LLC” in 1960. The Madoff Fraud is a typical “Ponzi Scheme”‚ in order to attract investors to give money to him‚ he convinced people to hand over their life saving‚ and promised them high returns rate‚ and then he
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Frost Nixon President Nixon and the Watergate Scandal The Watergate scandal is one which has had controversy surrounding it since it originated. The scandal revealed a connection between former president Richard Nixon and a break-in at his own political offices located in the Watergate Hotel‚ for the purpose of a cover-up. The investigation took years and was extensively covered by the press. Many pieces of media were made surrounding the scandal‚ and arguably the most important example would
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But over the past few months‚ the famous Wells Fargo name has been hurt by a scandal. Wells Fargo has created about 2 million fake bank and credit accounts between 2011 and 2015. With the banks nervous response in front of Congress‚ and disturbing stories of mistreated workers‚ it has only added fuel to the fire. Now there is talk that the scandal has put serious damage on the Wells Fargo name. Negative attitude towards the company has risen to 52% from 15% before
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celebrity sex scandal tape. The lawsuit really changed everything‚ especially for Hulk Hogan. Good for him‚ he won the $140 million lawsuit from Gawker after he was alleged to have sex with his friend’s wife. They just publish it without their consent‚ in which it’s the real turning point for Hulk Hogan and his family. Gawker has gone bankrupt‚ and they sold it to Univision after they shut it down. Scandal specialists and fixers were kept employed by keeping the celebrity sex scandal tape of the stars
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Case Study “Penn State Scandal – From A Human Behavior Perspective” Elisa-Ruth Nelson Southern New Hampshire University Introduction November 5‚ 2011‚ Pennsylvania grand jury indicted former Penn State assistant coach Gerald Sandusky‚ accusing him of sexually assaulting young boys. On June 22‚ 2012‚ Sandusky was found guilty of 45 of 48 child sex abuse charges. Nearly four months later‚ (October 9‚ 2012) Sandusky received a 30 – 60 year sentence. This scandal eventually forced further
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