WORLDCOM‚ INC: CORPORATE BOND ISSUANCE 1. IS IT A GOOD TIME FOR WORLDCOM‚ INC. TO ISSUE? CONSIDER FACTORS IN FAVOR AND FACTORS THAT ARE NOT IN FAVOR. Personally I believe that the time is not in favor of WorldCom in undertaking one of the largest bond issues at the time. Even though there are many advantages with proceeding with the issue‚ I believe that the degree and the uncertainty raised by some of the disadvantages outweigh the advantages of going ahead with the $6Billion
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Creative accounting refers to accounting practices that seem to follow the letter of the applicable accounting standards but deviate from the spirit of those standards. It is the use of accounting methods to hide aspects of a company’s financial dealings in order to make the company appear more or less successful than it is in reality. In other words‚ Creative accounting is the transformation of financial accounting figures from what they actually are to what preparers desire by taking advantage
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was that of WorldCom. In 1983 Bernie Ebbers and several other people invested in a newly formed company in Clinton‚ Mississippi called Long Distance Discount Services‚ Inc. (LDDS). LDDS was a provider of long distance telephone service to residential and commercial markets. Ebbers became CEO of LDDS in 1985. In 1989 the company merged with Advantage Companies‚ Inc. and became publicly traded. In 1995 the company name was changed to LDDS WorldCom‚ and later to just WorldCom. WorldCom grew to be
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Enron and WorldCom Case Study This report is based on the demise of Enron Corporation and WorldCom. Both the firms are demised due to the ethical lapses. These ethical lapses come into existence when managements of the firm‚ uses unethical practices to accomplish the goals of the firm. Maintaining financial and accounting standards in the business practices are necessary. The profession of accounting has become a mockery due to the accounting scandals that took place all over the world in the
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“The Feast of the Black Nazarene” Filipino Catholics are truly aware of the feast of the Black Nazarene‚ and it is really obvious that this is the time that the devotees are waiting for. This has become a part of the lives of many Filipinos‚ specially the Catholic‚ and even the non-Catholic. The procession lasted for almost eighteen hours with nine million devotees are indeed unbelievable. I decided to go to Quiapo not only because we were asked to‚ but also having the questions and curiosity
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Effect of Unethical Behavior Article Analysis ACC291 Effect of Unethical Behavior Article Analysis Ethics has long been a word that has several different meanings to different people. With most it means what “should” be done in various situations. It does not necessarily mean that it is illegal not to do what it considered ethical. Throughout history people have tried to justify the things they have done to make it seem as they had the best interest of those around them at heart. Unethical behavior
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The Perfect Storm of Leaders’ Unethical Behavior: A Conceptual Framework Diane J. Chandler Regent University School of Divinity‚ United States Unethical behavior of leaders has consequences for leaders themselves‚ followers‚ and their respective organizations. After defining relevant terms including ethics‚ morality‚ and ethical and unethical leadership‚ a conceptual framework for the unethical behavior of leaders is proposed‚ which includes the three “perfect storm” dimensions of leaders‚ followers
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Auditing Case 6.3 Question 1 Recent Developments in WorldCom Case * March 26‚ 2010: Third Distribution of Settlement Fund Made in Accordance with Court Order of September 18‚ 2009. * September 18‚ 2009: Judge Cote Grants Approval of the Final Distribution Plan * February 15‚ 2008: Second Distribution of Settlement Fund Made in Accordance with Court Order of January 23‚ 2008. * January 23‚ 2008: Judge Cote Grants Approval of Second Distribution of Net Settlement Fund. Question
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KAPLAN DAVID KIRON Accounting Fraud at WorldCom WorldCom could not have failed as a result of the actions of a limited number of individuals. Rather‚ there was a broad breakdown of the system of internal controls‚ corporate governance and individual responsibility‚ all of which worked together to create a culture in which few persons took responsibility until it was too late. — Richard Thornburgh‚ former U.S. attorney general1 On July 21‚ 2002‚ WorldCom Group‚ a telecommunications company with
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Diversity: Individual Behavior Impact Individual behavior is the pattern of behavior‚ thought‚ and emotion‚ unique to an individual‚ and the ways he or she interact to help or hinder the adjustment of a person to other people and situations (The Columbia Encyclopedia‚ 2001). Within organizations‚ diversity can positively or negatively impact the behavior of individuals. Organizations are responsible and held accountable for making the overall work environment conducive for all within the diversified
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