Case study 10.1 - THE RISE AND FALL OF WORLCOM Bernie Ebbers built WorldCom‚ Inc. (now part of Verizon‚ Inc.) into one of the world’s largest telecommunications firms. Yet he and chief financial officer (CFO) Scott Sullivan have become better known for creating a massive corporate accounting fraud that lead to the largest bankruptcy in U.S. history. Two investigate reports and subsequent court cases conclude that WorldCom executives were responsible for billions in fraudulent or unsupported accounting
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Valery Umana Po. 3 1\30\15 The Rise and Fall of the Ottoman‚ Safavid‚ and Mughal Empires The Ottoman‚ Safavid‚ and Mughal Empires were forces to be reckoned with back in the day. Being powerful entities‚ their rise was paved with military prowess‚ religious tolerance‚ and having meritocratic systems‚ though this is not always the case. Their fall‚ however‚ was the result of their treatment of peasants‚ a plague of horrid rulers‚ and shortsighted economic handling. The Ottomans were blessed for
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Rise and Fall of Ottoman Empire And Rise of Modern Turkey Ottoman Empire also known as “Sultanat e Osmania” or Ottoman Turkish Empire was the largest Muslim empire ever established. Its territories were spread across Europe‚ Asia and Africa. In short the largeness of the Ottoman Empire could be judged from the fact that modern day Turkey‚ Greece‚ Romania‚ Bosnia‚ Poland‚ Hungary‚ Bulgaria‚ Armenia‚ Georgia‚ Albania
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Selma Alabama‚ Richard Scrushy like any normal teenager found him self thinking about a better opportunity and life for him and his wife. After graduating from University of Alabama‚ Scrushy started from an entry level position‚ to owning his own company called HeathSouth‚ INC. By 2001 HealthSouth had more then 4.3 billion and 100‚000 patients a day. But all good thing come to end‚ when Scrushy found himself in schooled that put his career to end. In the 1990s‚ Scrushy company is grown more
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The Mongol Empire lasted a total of 162 years from 1206 C.E. to 1368 C.E. From humble beginnings as a clan‚ it conquered much within southeast Asia to Europe. It erupted out of the North Asian Steppes‚ conquering China‚ central Asia‚ Persia‚ and Russia. It contained all from the Pacific Ocean to the Danube River. The Mongols are commonly known today for their skill in archery on horseback‚ which enabled domination of many societies and lands. The Mongols originally roamed the steppes south of Lake
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HealthSouth Corporation Case Study By Robert H. Barr‚ Jr. - © 2012 In 2002‚ HealthSouth Corporation was one of North America’s largest outpatient surgery‚ rehabilitation and diagnostic imaging companies. HealthSouth had over 1800 facilities in all 50 states plus the United Kingdom‚ Australia‚ Puerto Rico‚ Canada and Saudi Arabia. In 2002 HealthSouth had over 50‚000 people on staff in sales revenues in excess of $4 billion per year. HealthSouth worked with more than 85‚000 referring physicians
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HealthSouth Impact on Stakeholders HealthSouth’s fraud impacted many of their stakeholders. Some of the stakeholders discussed below are the Directors and Management Team‚ external auditors Ernst & Young‚ the employees‚ the patients‚ and Chief Financial Officer Weston Smith. The Board of Directors and Management team engaged in several conflict of interest actions. They were the first company to be charged under the Sarbanes Oxley Act of 2002; which holds financial executives more accountable by
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The Rise and Fall of George Tenet Leshea Hicks Strayer University The Rise and Fall of George Tenet The departure of George Tenet was due to a series of events that included ethical dilemmas while serving as director of the Director of the Central Intelligence Agency. As many questions were raised during his tenure‚ he was used a punching bag and would come out in the end full of regret. In this paper‚ I will discuss the four ethical dilemmas‚ prioritization concerns‚ strategies concerning ethical
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Assignment #1: Investments BUS2007 For: Chay‚ J.‚ B. Deadline: 18th December 2009 Objective: To analyse the UK banking industry and the stocks HSBC‚ Lloyds‚ Royal Bank of Scotland and Barclays in the England banking industry and provide recommendations whether to buy‚ hold or sell the stock. 2009319086 · Kornelis Hooghiemster · khooghiemster@hotmail.com · 010 8696 5580 2009319085 · Vincent Schenkeveld · vincent.schenkeveld@student.hu.nl 2009319126 · Sander Barendse
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ISSUES IN ACCOUNTING EDUCATION Vol. 28‚ No. 4 2013 pp. 901–912 American Accounting Association DOI: 10.2308/iace-50542 Lessons of the HealthSouth Fraud: An Insider’s View Weston L. Smith INTRODUCTION T he night was December 6‚ 2005. I could not go to sleep. As I tossed and turned‚ my entire life replayed in my mind. How did I get to where I was? I went all the way back to my childhood. I was raised in a middle-income home with an older brother and sister and two loving parents. We were far from
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