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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AICPA Code of Professional Conduct Katie Potucek University of Phoenix ETH/376 The AICPA is the world’s largest association to signify accountants. Founded in 1887 the AICPA is formed out of 350‚000 members in 128 different countries. Upon the establishment of the ACIPA‚ its creation of accountancy as a profession well-known for educational requirements‚ high professional standers and a strict code of professional ethics. The AICPA is considered to be the foundation of ethical reasoning in
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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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WorldCom‚ WorldCom‚ WorldCom… This name has been thrown around the accounting school since my freshman year. It is as if it haunts our school as a warning to all future accounting students. However‚ as I read this case I did not have anything in mind other than trying to solve this situation from a judge’s standpoint. I thought I had an idea of where I stood on this situation until I tried to put myself in Mr. Myers’s shoes. After combining both of my stances‚ I have finally come to the conclusion
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“AICPA Code of Professional Conduct” ETH/376 The American Institute of Certified Public Accounts (AICPA) Code of Professional Conduct is a body of principals that has a goal to guide Certified Public Accountants (CPA’s) in the “performance of it professional responsibilities” (Mintz‚ 2011). The AICPA Code of Professional Conduct has six essential principles and they are: Responsibilities‚ the Public Interest‚ Integrity‚ Objectivity and Independence‚ Due Care‚ and Scope and Nature of Services
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Reflection Lana Lambrou ETH/376 Susan Paris March 30‚ 2013 The AICPA is the group of accountants which has provided some principles to adopt in practices. There are six principles which contain the important elements to protect the interest of public. These six principles determine the ethicality of an event. If these principles are followed by all the CPAs then the manipulation of accounts can be prohibited. The CPAs have the responsibility as well as accountability towards the public
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Code of Professional Conduct Kimberly Blome ETH/376 Monday July 2‚ 2012 Brandy Havens Code of Professional Conduct The American Institute of Certified Public Accountants Code of Professional Conducts purpose is to provide guidance and rules to all accountants in public practice. In my opinion‚ the Code of Professional Conduct is considered the foundation of ethical reasoning in accounting because every certified public accounting has an ethical obligation to the public to be responsible and
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Internal Audit and the Relationship with Senior Management Summary: The case study “Internal Audit Reporting Relationships: Serving Two Masters” was a part of a series of research projects being developed by the Institute of Internal Auditors to determine the various relationships‚ specifically reporting relationships between the internal auditor and those charged with governance. To obtain research about the various types of reporting relationships‚ independence‚ conflicts that arise from
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ARCELIA ARRATIA MEASUREMENT OF LENGTH‚ MASS‚ VOLUME‚ AND DENSITY PHYSICS LAB REPORT Physics is the scientific study of matter and energy and how they interact with each other. Physics utilizes the scientific formula to test hypothesis and calculate matter such as density. Tools were created to measure material in a laboratory and have been perfected to reduce error. In this experiment measurement of length‚ mass‚ volume and density will be obtained through instruments of measuring
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WorldCom: Can you hear the Lawsuits Now 1. Why do suppose Bernie Ebbers was treated more like the leader of a cult than a CEO? Explain. Bernie Ebbers was considered a cult leader for various reasons the total number of people affected by his behavior and direction of individual who just simply did as he requested which is what cult leaders do. He was known as a leader with charismatic is why a lot of his unethical actions were not challenged. Bernie Ebbers was ordered to pay back $6.13 billion
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