AVOIDING INVESTMENTS IN FRAUDULENT COMPANIES: THE WORLDCOM FRAUD Introduction The purpose of this report is to investigate and discuss the accounting fraud that occurred at WorldCom in order to recommend improved strategies to Berkshire Hathaway’s management for avoiding investments in companies with fraudulent financials. Accounting fraud is a crime committed by high level employees at an organization to manipulate the organization’s financial statements and intentionally disguise company
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University of Phoenix Material Part I Team Strategy Plan 1. Complete the following table to address the creation of teams at Riordan Manufacturing. What are possible structures for the creation of teams? |Strategy/Structure |Strengths |Weaknesses | | |(Minimum of two) |(Minimum of two) | |Stating goals
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University of Phoenix Material Team Strategy Plan 1. Complete the following table to address the creation of teams at Riordan Manufacturing. Strategy Strengths Weaknesses Clear expectation of goals Better measuring of objectives and increased efficiency in objective measuring Is reluctant in discussing communications and is distant in relationships. Channels of communications Keys to develop healthy associations are developed such as knowledge and bonding. Since there is a lot
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Enron and its Associates Used Questionable Accounting Practices Clearly‚ there have been cases where management knowingly deceived the auditors. Then there seem to be other instances where the accounting treatment envelope was pushed just a bit too far. In the case of Enron‚ David B. Duncan‚ the former Andersen partner in charge of the Enron audit who was the government’s chief witness in the trial against Arthur Andersen‚ stood behind the decisions that resulted in the widespread use of off-balance
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WorldCom Failure in relation to its Organizational Behavior LDR/531 - Organizational Leadership October 7‚ 2010 WorldCom Failure in relation to its Organizational Behavior INTRODUCTION Year 2002 saw an unprecedented number of corporate scandals: Enron‚ Tyco‚ Global Crossing‚ etc. In many ways‚ WorldCom is just another case of failed corporate governance‚ accounting abuses‚ and outright greed. Many people may question if there is a secret to operating a successful business in modern times.
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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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Week 3 Reflection Kimberly Grigsby‚ Juataun Mark‚ Jack Martincavage‚ Ana Valdivia MGT/311 December 04‚ 2012 Joe Cheng Week 3 Reflection During period of November 27 to December 03 Learning Team F was presented a slide show‚ lecture by Professor Cheng and reading assignments from Organizational behavior (14th ed.). Professor Cheng’s slide show and lecture discussed conflicts and conflict resolution. Conflicted is defined as a process that begins when one party perceives that another party
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Interactionist views of conflict are almost a polar opposite of traditional conflict with the exception that it is held to a peaceful conflict. This is done to bring out competitiveness and drive amongst team and group members. Human relations conflict is the thinking that know matter how good or bad a group or team is conflict is going to happen within a group. Human relation conflict is more geared toward understanding and knowing how to resolve a conflict peacefully and in a way that benefits everyone.
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University of Phoenix Material Conflict Management Plan 1. Identify the available conflict management strategies and their strengths and weaknesses. |Strategy |Strengths |Weaknesses | | |Short term result |Reduces the interpersonal connections. | | |
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The WorldCom Accounting Scandal WorldCom was started in Mississippi as a long distance telephone service provider in 1983 (Lyke and Jickling‚ 2). Over the next decade and a half‚ the company expanded to offer a whole range of telecommunication services through a series of mergers and acquisitions (Lyke and Jickling‚ 2). At its height‚ WorldCom was the largest long distance phone company in the United States and was one of the leading companies in the telecommunication market in the world‚ providing
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