Conflict in Ethical Decision Making at WorldCom Kerry Seeley Business Ethics MT4200 National American University September 25‚ 2007 Craig Chaplin Abstract This paper explains how WorldCom began and where it’s at now. It didn’t take long for WorldCom to become the second largest long distance phone company. WorldCom provided a legal framework for people working in communication projects on an individual basis‚ mainly in Central America‚ but they also developed projects together with partners
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WorldCom: Organizational Culture and Unethical Safeguards Organizational culture is one of four influences whether an ethical or unethical behavior will be made. WorldCom’s demise‚ deliberately overstating their income by $7 billion between 1999 and 2002; and their once valued stock of $180 million becoming nearly worthless‚ can attribute a significant amount of their failure on their “dis”organizational culture. Corporations worldwide who do not think this type of fraud can happen at the hands
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Specialty Glass‚ Inc.: Cost Accounting and Hazardous Wastes A Business Case presented to Ms. Nancy Chua Accountancy Department In partial fulfilment of the course requirements In MODCOS1 Imperial‚ Glenn Paolo S. Reyes‚ Joselle Marie R. K31 July 8‚ 2011 Producing about 30 percent of the world’s colored sheet glass‚ it is evident that Specialty Glass Inc. has a competitive advantage over other manufacturers of sheet glass. First‚ their capital investment provides an advantage
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Audit Quality and Cost of Debt Capital for Private Firms: Evidence from Finland Jukka Karjalainen Department of Business University of Eastern Finland April 10‚ 2010 Abstract The purpose of this paper is to examine the value relevance of the perceived audit quality in terms of who audits‚ as well as the audit outcomes in terms of the auditor’s opinion and accruals quality‚ in the pricing of debt capital for privately-held firms by examining a large sample of privately-held Finnish firms. The
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Assignment # 3 WorldCom Accounting Fraud By Mark A. Cowan Strayer University ACC 499- Accounting Capstone May 15‚ 2011 The purpose of this paper is to discuss the aspects of the WorldCom accounting scandal and the effects that this scandal had on the accounting world as we know it. We will discuss the corporate culture at WorldCom and how it contributed to the accounting fraud‚ how the CEO’s desire to be the #1 stock on Wall Street contributed to the fraud‚ pressures on accountants to book
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protect stock prices Financial Overview of WorldCom (in Billions) Financial Highlights 1994 1999 2001 2004 Revenues $2.2 $37.1 $35.2 $20.7 Total Assets $3.4 $91.1 $103.9 $17.1 Employees $7.5 $97.6 $87.8 $40.4 Market Cap. $3.3 $150.5 $42.8 $6.4 Debt $0.8 $13.1 $30.0 $5.9 Total Capitalization $4.1 $163.6 $72.8 $12.3 Summary of Improper Income Statement amounts (in millions) 1999 2000 2001 2002 Total Revenues $205 $328 $358 $67 $958 Line Costs $598 $2‚870 $3‚063 $798 $7‚329 Other Expenses
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“The Effect of IFRS Adoption and Investor Protection on Earnings Quality Around the World” by Houqe et al. In the paper “The Effects of IFRS Adoption and Investor Protection on Earnings Quality Around the World” Houqe et al. study the interaction of two fundamental factors that influence financial reporting. So‚ the authors developed an empirical model that tested whether the quality of earnings is a function of mandatory IFRS adoption‚ the country’s investor protection and the interaction of these
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Earning management is good or not? Introdcution This essay is to examine whether earning management is it good or bad. Though there is so many debate about whether it should be accepted to be good rather than bad‚ however‚ this essay will explain the both side of earnings management. Earnings management reduces the quality of financial reporting‚ it can interfere with the resource allocation in the economy and can bring adverse consequences to the financial market. This essay analyses both‚ causes
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to act ethically. When an individual is asked to do something that they may even suspect would be detrimental to their livelihood‚ then they have all the rights given to them to not follow through with that action. In the case of Betty Vinson of WorldCom‚ while she had the clear understanding that her actions were wrong‚ she clearly kept personal financial safety ahead of her moral and ethical standards. This eventually translated into an even more detrimental result‚ which was jail time. She clearly
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encontrarás al final del capítulo 1‚ páginas 36 a la 37: 1-5 Corporate taxes. Tantor Supply‚ Inc.‚ is a small corporation acting as the exclusive distributor of a major line of sporting goods. During 2000 the firm earned $92‚500 before taxes. a. Calculate the firm’s tax liability using the corporate tax rate schedule given in Table 3.4. b. How much is Tanto Supply’s 2000 after-tax earnings? c. What was the firm’s average tax rate‚ based on your findings in a? d. What is the
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