Review of Accounting Ethics – Worldcom ACC557 Financial Accounting Cornelia H. Brown Strayer University Review of Accounting Ethics - Worldcom In a business world pressured to meet organizational objectives such as high revenue growth it is not alarming that conduct by decision makers may be deemed as questionable practices. These practices within the past two decades have resulted in a number of organizations finding themselves confronted with ethical dilemmas and the aftermath
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gain popularity in the nineties mostly hailed from California (Green Day‚ the Offspring‚ etc.). Punk vanguards from the seventies hailed from the East Coast and from Great Britain (the Ramones‚ the Clash‚ etc.). The Sex Pistols’ "Liar" and Blink182’s "What’s My Age Again?" demonstrates how conditions — social‚ political‚ and physical — are reflected in the nature of the music produced by these punk bands. The Sex Pistols emerged in the late seventies as one of the first politically charged punk
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The financial world was rocked by accounting scandals in the late 1990s and early 2000s. Companies such as Enron‚ Global Crossing and Tyco International collapsed under the weight of fraud and destroyed investor confidence in corporate accounting. But the biggest collapse 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
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Best Practices in Implementing Work-Life Balance Programs Srirang Jha Apeejay School of Management‚ New Delhi E-mail: sjha.asm@gmail.com Swarn Kant Mishra Footwear Design & Development Institute‚ Noida E-mail: mishra.swarnkant@gmail.com Abstract Work-life balance programs are important for contemporary organizations not only for ensuring long-term wellbeing and good health of the employees but also to attain long-term competitiveness. There have been a number of researches establishing relationship
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The WorldCom scandal was actually brought to light by the internal auditor‚ Cynthia Cooper. Cooper and her team‚ Gene Morse and Glyn Smith uncovered the fact that line costs were being transferred to capital accounts. Cooper was originally tipped off to the fact that something was amiss when the head of WorldCom’s wireless business paid her a visit‚ upset that he was loosing $400 million that had been set aside to make up for shortfalls if customers didn’t pay their bills. Scott Sullivan‚ CFO of
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Ulysses S. Grant Ulysses S. Grant was born on April 27‚ 1822‚ in Point Pleasant‚ Ohio. He was entrusted with command of all U.S. armies in 1864‚ and relentlessly pursued the enemy during the Civil War. In 1869‚ at age 46‚ Grant became the youngest president theretofore. Though Grant was highly scrupulous‚ his administration was tainted with scandal. After leaving the presidency‚ he commissioned Mark Twain to publish his best-selling memoirs. President Ulysses S. Grant was born Hiram Ulysses Grant
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ETHICS IS MORE THAN LEGALITY In the early 2000s‚ the U.S. public was shocked to learn that Enron‚ the giant energy trading company‚ had created off-the-books partnerships to unlawfully hide its debts and losses. The Enron disgrace soon was followed by more scandals at major companies like WorldCom‚ Tyco International‚ ImClone‚ HealthSouth‚ and Boeing. (See the Legal Briefcase box for a brief summary of a few of these cases.) In recent years‚ greedy borrowers and lenders alike were among those who
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Since the beginning of radio’s “golden age” in the 1940’s‚ this form of mass media has experienced many changes from different programming‚ to advertising‚ to broadcast laws‚ etc. Beginning when the first radio station‚ KDKA‚ signed on in 1920 ‚ it was quickly being picked up as a new emerging form of mass media. By the mid-20’s radios themselves were better and easier to use‚ and by 1930‚ were being purchased by the millions. Radio not only survived but thrived through the great depression. This
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In the world of cosplay‚ there are many ways one could be involved successfully. While cosplay has been around since the 1930’s‚ it is just recently starting to branch out into more mainstream genres. A common type of cosplay is crossplay (crossdress and play) which is not to be confused with gender swap. The photo below shows a prime example of crossplay in which a female is representing a male character while adding her own twist to the costume yet still making the overall male character recognizable
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[1] What business was WorldCom in? WorldCom was in the business of telecommunications. Where was WorldCom located? WorldCom was located in Clinton‚ Mississippi. Who was the CEO? The CEO was Bernie Ebbers. Who was the CFO? The CFO was Scott Sullivan. What are the names of the two members of the internal audit staff who worked with Cynthia on their secret investigation? Gene Morse and Glyn Smith What made the internal auditors think that possibly there was a need to investigate WorldCom’s
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