Running head: CASE ANALYSIS OF THE ACCOUNTING FRAUD AT WORLDCOM Case Analysis of the Accounting Fraud at WorldCom Angela Crossley Troy University October 27‚ 2008 History The origin of WorldCom can be traced back to 1983. The CEO‚ Bernard J. Ebbers‚ of WorldCom had very interesting beginnings. He invested in Long Distance Discount Services (LLDS) with eight other investors‚ and believed that the telecommunications industry was a very good business venture. In the beginning
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the company’s auditors to the extent that if a firm provides auditing services for a company they cannot really provide any other types of services. This limitation was put into place in order to maintain the independence of auditors and the companies that they audit. If an accounting firm was allowed to provide auditing services as well as tax services to a company‚ the independence‚ in such a case‚ of the firm would not be maintained because the firm would be in part auditing some of its own work
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Firms did not flourish until the early 20th century. They emerged as an authorized structure and were granted exclusive rights to trade and conduct business in certain markets and products. The fact that firms are a different way to organize economic activities cannot explain explicitly and adequately the reason of firm formation. Many socialists and economists have given their interpretations of the conditions under which firms emerged and developed in certain ways in a specialised exchange economy
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The return on equity also increased‚ with a 4% ROE in 2010 to 14% in 2011. Their profits are also growing faster than there assets with an increase on their return on assets of 4% between 2010 and 2011. The profit margin rose from 2% in 2010 to 5% in 2011. Sales rose from $7500 between 2010 and 2011‚ however‚ this does not account for the substantial increase in their net income. While their sales have increased‚ their profits have increased at a faster rate. The significant increase in their
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Module 1‚ Activity 5 Bakerview’s strategy is to develop a core consumer base by segregating themselves from their competitors through industry niches which meet current societal demands and product differentiation. Bakerview has established its own niches in its industry to pursue the solitary of product differentiation. One of its niches is establishing Cowlix Natural Ice Cream which is their own featured brand name product. Crafting your own brand name product creates product differentiation
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Micro Economic Essays Market Structure 1. Discuss how firms within an oligopolistic market compete. 2. Discuss whether monopoly is always an undesirable form of market structure. 3. Explain how interdependence and uncertainty affect the behaviour of firms in Oligopolistic markets 4. Evaluate the view that only producers‚ and not consumers‚ benefit when oligopolistic firms collude to try to reduce the uncertainty they experience. 5. Explain why contestable markets generally function more efficiently
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killing his beautiful wife‚ Desdemona. Though Othello was a great warrior‚ however Othello was bound by fate to succumb to evil. The importance of reputation plays a big part in Shakespeare’s play. Iago uses his reputation as the honest man‚ to deceive Othello and everyone else. Cassio’s reputation as well plays a big part throughout the play. In this
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title Sarah’s scribbles is a comic written by Sarah Andersen‚ a young American artist. She started making comics when she was in college getting her art degree. She finds inspiration from her daily life‚ and started making comics as a way to express her feelings. She likes to take her feelings about situations and turn it into joke that’s universally relatable for everyone. She depicts universal experiences many women face‚ covering topics such as: menstruation‚ capitalism‚ love‚ metal health‚
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PR is about reputation – ‘the result of what you do‚ what you say and what others say about you’ (www.cipr.co.uk). How does this compare with Bernays’ ideas of PR as Propaganda and today’s Nudge and Persuasion theories? According to CIPR‚ Public Relations is about reputation‚ which refers to the result of what you do‚ what you say and what others say about you. In the first place‚ this essay will introduce Grunig and Hunt (1984)’s four models and five stages of development; and then‚ analyse and
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Epictetus’ handbook‚ Enchiridion‚ was compiled by his disciple Arrian and first published in 125 AD. In this writing‚ Epictetus offers Stoic advice on how one can live well given the circumstances within one’s world. Epictetus firmly believes in the strategy of detachment as a means to survive; to not project any intrinsic value onto things outside one’s control and to be dependent on oneself for one’s own happiness. As Dr. Enns mentions in lecture‚ Epictetus proposes coping strategies for one’s
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