Enron and WorldCom FIN/486 December 22‚ 2014 Enron and WorldCom In 1998‚ Waste Management executives acknowledged earnings misstatements of approximately $1.7 billion. With the help of the Arthur Anderson accounting firm‚ Waste Management shareholders lost more than $6 billion dollars (CNN‚ 2001). The Waste Management corruption ushered in a series of corporate scandals into the new millennium. Enron and WorldCom were only two of many ethical and accounting violations that prompted new legislation
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WorldCom Scandal Formerly known as WorldCom‚ now known as MCI‚ this U.S.-based telecommunications company was at one time the second-largest long distance phone company in the U.S. Today‚ it is perhaps best known for a massive accounting scandal that led to the company filing for bankruptcy protection in 2002. In 1998‚ the telecommunications industry began to slow down and WorldCom’s stock was declining. CEO Bernard Ebbers came under increasing pressure from banks to cover margin calls on
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by accounting pronouncements so long as proper disclosures are made. Mr. Duncan‚ however‚ appeared to have been duped by a situation where management went above and beyond what was allowable. He testified that he had been deceived by Enron officials on at least two matters. The first of these was the company’s use of what investigators have called a "side agreement" in the establishment of a partnership known as Chewco. If that agreement had been known to auditors‚ the accounting treatment of the
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WorldCom Scandal A summary of WorldCom fraud would include having to describe the greed that would eventually destroy one of the largest communications companies in the United States and world. A humble motel owner‚ Bernard Ebbers took a small long distance company in 1983 and turned it into one of the most successful businesses in the country. It was not so much the business operations that caused the company to grow but the aggressive acquisitions that made the company grow. In its day‚ CEO Bernard
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outcomes. The meta-analysis suggests that spinal-induced hypotension‚ bradycardia‚ and amount of vasopressors needed were reduced with prophylactic ondansetron. However‚ Gao L et al recommends that further‚ stricter studies with larger sample size should be performed with a focus in obstetric patients. A meta-analysis is considered a systematic review‚ which provides the highest level of evidence. The systematic review is relevant to the PICOT question in that helped determine that the administration
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TYPES OF ECONOMIC SYSTEMS The world’s economic systems fall into one of four main categories: traditional economy‚ market economy‚ command economy and mixed economy; however‚ there are unlimited variations of each type. An economic system must define what to produce‚ how to produce it and for whom to produced it. Depending on the products produced and the environment‚ certain economic strategies will be more successful than others. Traditional A traditional economic system is one in which each new
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IJCSNS International Journal of Computer Science and Network Security‚ VOL.11 No.1‚ January 2011 197 An Approach to Detect and Prevent SQL Injection Attacks in Database Using Web Service IndraniBalasundaram 1 Dr. E. Ramaraj2 1 Lecturer‚ Department of Computer Science‚ Madurai Kamaraj University‚ Madurai 2 Director of Computer Centre Alagappa University‚ Karaikudi. Abstract SQL injection is an attack methodology that targets the data residing in a database through the firewall that
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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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Democracy is a system of government built for the welfare of the people by the people of their country. After the civil war (1861-1865)‚ the time periods – Reconstruction‚ Gilded Age‚ and the 1920s – showed dramatic changes in the US democracy socially and politically. The US democracy progressed the most in the 1920s amongst the three above mentioned time periods‚ as every group in the society aim for social and political rights. The Reconstruction period (1865-1877)‚ as the name suggests‚ was
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One is the Buddhism and the other is the Confucianism. Regarding their impact‚ we may find that either of them has an alienated function. The Buddhism‚ at the first place‚ originated in India tells the notion of reincarnation and doing good for the sake of the return in afterlife. When it came to Japan from China‚ the fair ladies who could read Chinese were therefore influenced by one of its doctrine. So basically
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