Growing ups 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
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Eddie Antar‚ the CEO of the Crazy Eddie Discount Electronics Chain. In 1993 Eddie was convicted for an $80 million stock fraud and after that his business collapse. Before the company went public in 1984 Eddie and two brothers were accused of putting together a scheme and inflated the value of the company. In 1990 Mr. Antar was on the run because the government charged‚ off millions and they found him in June 1992 in Israel then they extradited back to the United States. When Antar was 45 years old
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documentary called “lucent” “that’s” (L.U.C.E.N.T) it is an Australian made film‚ written and directed by Chris Delforce. It follows the story of an Australian pig farming industry and how they operate‚(slight pause) and the process that’s required in order to make‚ what everyone knows as “bacon”; Chris Delforce has created this film “lucent” in order for him to catcher “as he claims “the highlights of the day to day cruelty that has been accepted by the industry as a standard practice. “Lucent” is a Latin
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Lucent Technologies Caser University of Phoenix Axia College Acc 230 October 3‚ 2010 Lucent Technologies After reviewing the Case Review of Lucent Technologies‚ it was apparent the Lucent Technologies assets suffered a large decline between the years of 2003 and 2004. In 2003 the current assets consisted of 49.4% of their total assets while in 2004 the current asset percentage decreased to 48.5%. After a more close and thorough evaluation‚ it is apparent that the inventory did increase
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“Lucent technologies is a company that designs and delivers the systems‚ software and services that drives the next generation communications networks. They are backed by Bell Labs research and development” (Fraser & Ormiston‚ p 79‚ para 2). “They use their strengths in mobility‚ optical‚ access‚ data and voice networking technologies‚ as well as services‚ to create new revenue generating opportunities. This makes it possible to help them better manage their networks. Their customers include
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Lucent Technologies Case Yulissa T. Ortiz Salgado March 30‚ 2013 Financial Reporting: Peeking Under the Financial Hood Mrs. Darcie Sargent The Lucent Technologies is a company that helps creating new revenue generating opportunities for customers through the communication service. We all know how useful and important communication services have become throughout the years. Lucent Technologies is compounded of three organizations around the products and they are: Integrated Network Solutions
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that there were no profits generated after 1987. This is how the problem began‚ because Monus and other executives did not want the truth about there losses to damage the success and favorable reputation of Phar-Mor‚ they began to use imaginative accounting practices to hide their losses on the financial statements. Phar-Mor’s cover up and fraud was very extensive and went on for many years without being uncovered. In fact‚ Phar-Mor was deemed a hot commodity and attracted many large investors.
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Case Study: Enron Corporation Accounting Scandal 1. What is Enron Scandal? Formed in 1985 from a merger of Houston Natural Gas and Internorth‚ Enron Corp. was the first nationwide natural gas pipeline network. Over time‚ the firm’s business focus shifted from the regulated transportation of natural gas to unregulated energy trading markets. The guiding principle seems to have been that there was more money to be made in buying and selling financial contracts linked to the value of energy
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issues of Lucent Technologies Inc. on the basis of analysis of the veracity of the situation according to the reporting framework’s guidelines to anticipate unfavorable implications that had been resulted due to poor performance of the company over the past years. The Financial Accounting Standards Board (FASB) is the recognized body for making pronouncements as Generally Accepted Accounting Principles (GAAPs) in the United States. The FASB has promulgated Statement of Financial Accounting Standard
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euros ($5.07 billion) held by a Cayman Islands subsidiary was declared false by Bank of America. Company founder Calisto Tanzi subsequently said when questioned that the accounting hole was about 8 billion euros. He is among nine arrested so far in what U.S. regulators have called one of the world’s biggest corporate fraud scandals.” Allegations: Company’s total debt was more than doubled on the balance sheet. Forgery and bankruptcy are some other allegations.” - (Tanzi admitted that there was a
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