Title of reading: Reading critically |Page/par. # |Write your notes from the reading(s) here:|Write your personal ideas‚ reactions and | | | |responses here: | |P1/1 |An additional benefit of close‚ critical | | | |reading is that you will
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Introduction By June 2002‚ it had become evident to the SEC that WorldCom had engaged in a significant corporate accounting fraud scheme which had overstated pretax income by about $7 billion since 1999. At the time‚ this was the largest deliberate misstatement in US corporate history. Although there are many interesting elements and players involved with this incident‚ for the purpose of this case study I will focus on the role played by Betty Vinson‚ the Director of Management Reporting and
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its bark as a sapling‚ and no lumberjack cut it down before it matured. 2. (Outliers) Page 17: If you have ability‚ the vast network of hockey scouts and talent spotters will find you‚ and if you are willing to work to develop that ability‚ the system will reward you. Success in hockey is based on individual merit—and both of those words are important. Players are judged on their own performance‚ not on anyone else’s‚ and on the basis of their ability‚ not on some other arbitrary fact.Or are they
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Accounting Fraud at WorldCom LDDS began operations in 1984 offering services to local retail and commercial customers in the southern states. It was initially a loss making enterprise‚ and thus hired Bernie J. (Bernie) Ebbers to run things. It took him less than a year to make the company profitable. By the end of 1993‚ LDDS was the fourth largest long distance carrier in the United States. After a shareholder vote in May 1995‚ the company officially came to be known as WorldCom. WorldCom culture
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The Bible & Accounting Fraud Liberty University Abstract Accounting is an information and measurement system used by mainly all businesses and organizations to provide relevant‚ reliable and comparable information about its business activities‚ (Wild‚ & Shaw‚ & Chiappetta‚ 2011‚ p.272). Accounting Information Systems is a fundamental part of determining the success of an organization. An effective information system provides Internal
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African American Woodson‚ J. (2005) Show way. Talbott‚ H. NY: Putnam’s Sons. Memorable Quote Personal Reaction “And though some could book read‚ most could not. Stars and moon and roads. Picture reading was what they’d always known.” There are several effective ways of communicating with others. Quilting was significant to this ethnic group since they did not know how to read. African Americans found different ways to communicate in which they could under-stand the messages through the images
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Sebastian reached into his bag of tricks once more and pulled out a hatchet. The blade was so sharp it could easily cut the whiskers of a cat. The madman began to repeatedly dig the hatchet into a tree and with a simple shove he sent the tree crashing to the ground. With a big thud the tree collided with the dirt road blocking it off to anyone who tried to take this road. We descended back into the forest and using our magic created a shelter out of leaves and sticks that would suffice for a couple
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I remember once reading about a man‚ who got smitten thrice by lightning in life‚ and once in his own graveyard. At that time I thought that fate was a whimsical son of a b***. I know‚ I know… Watch your language and all that‚ but what can I say‚ I’ve never been one to be careful around others‚ I mean‚ people should be able to swallow things like this‚ as long as they’re not said to be hurtful. Aaaaaanyway‚ I’m losing the track of my mind‚ what I meant with all that is simple‚ I’m being struck by
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SUBJECT: Accounting fraud at WorldCom Problem Statement WorldCom penetrated the largest accounting fraud in U.S history by overstating its tax income between 1999 and 2002. The main players in WorldCom’s accounting fraud included CFO Scott Sullivan‚ the General Accounting and Internal Audit departments‚ external auditor Arthur Andersen‚ and the board of directors. While individuals did have their own sins‚ employees cowardice and self-interested‚ the board passive and ineffective‚ external auditors
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SUBJECT: Forensic Accounting Introduction In this memorandum‚ I will explain the reasons as to why managers feel more pressure than in past years. Also‚ I will discuss several ways that managers can commit fraud for personal gain‚ and how these schemes are eventually caught by forensic accountants. Rising Pressure There has been a growing trend to hold managers accountable for their company’s performance. Wall Street analysts have become enemies of CEOs. These analysts set target quarterly
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