[pic] Quaid-i-Azam University‚ Islamabad Submitted to : Dr. Rukhsana Submitted by : Bushra Nazir Semester : M.Sc. IR 2nd Department of International Relations INTRODUCTION In modern days a country is said to be developed if it is socially as well as economically revived. If any country is economically developed but socially lackxing behind it can’t cope up with the present standards. Same is the case with social development it alone cannot drive a country
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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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WorldCom and Accounting Ethics ACC557 Assignment #1 April 29‚ 2013 Dr. Mohammad Rahman Deanna Williams Current business and regulatory environments are more conducive to ethical behavior due to many new laws that have been put into effect in recent years. For many companies‚ especially small ones‚ the checks and balances are not put into place as well as they should be. With new laws in effect and more and more accountants paying attention to their clients’ accounts‚ ethical behavior is on
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Inside the WorldCom Scam Title: Pointing the Finger Question: The corporate scandal involving WorldCom regrettably illustrates improper cost transfers designed to achieve higher profit levels. WorldCom did not transfer the cost from leases from the balance sheet to the income statement as quickly as they should have. This had the effect of overstating assets on the balance sheet and net income on the income statement. Please watch this section of American Greed: Inside the WorldCom Scam: http://www
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companies and in some of those it results in the ruin of what started out to be a good thing. Some of these companies started out as small prosperous businesses that later grew into large dominate organizations for example; Enron‚ and of course WorldCom. These businesses began with good intentions and ended up internally combusting. All of it was due to the result of GREED. Greed is a disease‚ and has plagued several organizational leaders over time and caused them to go against their good ethics
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distracted from my ability to sympathize with Bernard Ebbers conviction. His defense team argued that the trial judge wrongly instructed the jury that it could convict Mr. Ebbers on the basis that he engaged in “conscious avoidance” of the fraud at WorldCom. It is evident that Ebbers took a blind eye to any consideration to analyze the good stuff from the bad stuff in this situation. He failed to calculate the considerations of utility and as a result he is paying the consequences through a substantial
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ACCT7102 Case Study- WorldCom 1.0 Background WorldCom as one of the world’s largest telecommunications companies‚ filed for bankruptcy on 2012 after numerous accounting irregularities were disclosed. It is essential for us to analyze the several underlying issues from WorldCom case to avoid its repetition. The origin of WorldCom can be traced to a LDDS provider in 1983 and it became officially known as WorldCom in 1995. The company maintained a rapid growth through a series of acquisitions using
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WorldCom was a pre-eminent telecommunications company that dealt with the same ethical issues that many companies deal with today. Ethics is something that comes into play in every businesses day to day operations. A decision is it ethical or not‚ is something that every employee makes in today’s business environment. Ethics is a topic that needs to be talked about and reinforced on a reoccurring basis so that unethical events like what happened in WorldCom‚ do not happen. There were many unethical
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C) Fairness D) Integrity Question 4 If one’s reputation is tainted it may create a: A) Conflict of interests B) Loss of independence C) Lack of trust D) All of the above Question 5 Each of the following describes the behavior of Cynthia Cooper in the WorldCom fraud except for: A) Persistence B) Competence C) Integrity D) Hesistance Question 6 Each of the following elements make up an integral part of what is meant by "ethics" except for: A) Accepted standards of behavior B) Knowing the difference
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Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron‚ (Portfolio‚ 2003) Pg 6-10 Cynthia Cooper (2008). Extraordinary Circumstances: The Journey of a Corporate Whistleblower. Wiley. Ferrell‚ O. C.‚ Fraedrich‚ J.‚ & Ferrell‚ L. (2005). Business Ethics Ethical Decision Making and Cases. Boston‚ MA: Houghton Mifflin Company. Lynne W. Jeter (2003). Disconnected: Deceit and Betrayal at WorldCom. Om Malik (2003) Sarbanes-Oxley Act of 2002‚ Accessed February 13‚ 2008. http://www.soxlaw.com/index
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