can be very easily become a disaster in wake of commonsense decisions gone wrong. This research paper is based on decisions being made in unethically manners that in the long run caused three of the largest corporate scandals of Enron‚ Tyco‚ and WorldCom. Before filing for bankruptcy in 2001‚ Enron Corporation was one of the largest integrated natural gas and electricity companies in the world. It marketed natural gas liquids worldwide and operated one of the largest natural gas transmission systems
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Worldcom was the second largest long distance phone company in the United States. The former CEO Bernard Ebbers was sentenced to twenty five years in prison due to increasing revenue the wrong way to increase earnings. This company had the largest bankruptcy filing in the United States. Today‚ the Worldcom accounting scandal is known as one of the worst corporate white collar crimes in history. What were some psychological factors that led to this crime? Financial Pressures from competitors
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Accounting Fraud at WorldCom 1) What are the pressures that lead executives and managers to “cook the books?” After the rapid evolution of the telecommunication industry in the 1990s‚ WorldCom shifted its strategy to focus on building revenues and acquiring capacity sufficient to handle expected growth. Their biggest goal was to be the No. 1 stock on Wall Street rather than capturing the market share. As a result‚ their Expense-to-Revenue (E/R) Ratio was their measurement for their main objective
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Question 1 At the time Cynthia Cooper discovered the accounting fraud‚ WorldCom did not have a whistle-blower hotline process in place. Instead‚ Cynthia took on significant risks when she stepped over Scott Sullivan’s head and notified the audit committee chairman of her findings. Discuss the key criteria for the operation of an effective corporate whistle-blower hotline. Be sure to highlight potential pitfalls that should be avoided and reference professional codes‚ legislation and academic
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“Good Old Days” by Macklemore featuring Kesha is about the present and how quickly it passes by and everybody needs to learn how to live in the present and not in the past nor the future‚ like the chorus says “I wish somebody would have told me babe / Some day‚ these will be the good old days”. The song is about appreciation of the moment and reveals that the society more about what did or will happen. The speakers conflict is with themselves not with another person. They’re blaming themselves not
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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 phrase‚ “boys will be boys” has had‚ in the American school system. From the truth about why girls seem to thrive more in a structured classroom setting than boys‚ to the effects of bullying and how‚ until the 90’s‚ either a blind eye was turned to it or‚ in the case of many coaches‚ it was practically encouraged for the (supposed) betterment and cohesion of the team or group. I found it very interesting that girls tend to be more successful in school than boys because‚ unlike boys who often
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Wk2 Assignment: The Enron and WorldCom Scandals Student Name ACC/260 Date Instructors Name[Page Break] 1. Which segment of its operations got Enron into difficulties? The guaranteed loans that were intended to bridge the financing for investments from outside investors that could not be found would be the segment of operations that caused Enron difficulties. 2. Did Enron’s directors understand how profits were being made in this segment
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boys will be boys Barbara Kantrowitz and Claudia Kalb’s‚ “Boys will be Boys” article‚ explains how after years of research on girls‚ boys must also be put under the microscope‚ in efforts to reach a further understanding of the adolescent male. The two authors start their article by pointing out‚ that boys and girls come from two completely different “planets”. They have two different “crisis points”‚ which are stages of emotional and social development‚ where things can go seriously wrong. Kantrowitz
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Technology-integration in Old Age Homes in India A Status Paper Sugan Bhatia‚ Ph.D. President Indian University Association for Continuing Education Delhi 1.1 The elderly (aged 60 years and above) in India account for more than 9 percent of the total population. The National Population Commission estimated that the population of the elderly is expected to grow from 71 million in 2001 to 173 million in 2026. This demographic scenario appears to indicate a very precarious condition for the older persons
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