Insight on WorldCom Scandal Table of Contents ABSTRACT 2 The importance of accounting conceptual framework 3 Historical Background 5 The Scandal – what happened 6 PENALTIES 7 How the scandal relates to accounting theory 8 RELATION TO POSITIVE ACCOUNTING THEORY 9 Conservatism Principle 9 Lack of Reliability 10 Lack of Relevance 11 Financial Misstatement 11 Conclusion 12 Bibliography 14 Insight on WorldCom Scandal ABSTRACT The scope of this paper deals with the
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U.S. Department of Justice Federal Bureau of Investigation 2012 The Strategic Information and Operations Center at FBI Headquarters is the 24/7 command post that monitors FBI operations and law enforcement activities around the globe. An FBI agent examines a potentially contaminated letter during a white powder training exercise. 2012 The FBI Story I A Message from FBI Director Robert S. Mueller, III For the FBI and its partners, 2012 was a year that reminded us once again of
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Kaitlin Sleasman Fraud Paper 1/14/11 Acct. 211 In October of 2004, Qwest Communications International, Inc., was charged by the Securities and Exchange Commission for securities fraud and other violations of the federal securities law. The accusations were being traced back between 1999 and 2002. Qwest recognized more than $3.8 billion in revenue and also excluded more than $230 million in expenses in order to meet unstoppable revenue and earnings projections. Qwest Communications did not
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ISSC351 - Week 1 Your Name: Search the Internet for articles on computer crime prosecution. Write a one page paper summarizing the article and identify key features of the decision you find in your search. Computer Crime Criminals have always tried to take advantage or exploit the advances in technology. It's extremely profitable to do so and rarely can get to prosecution if caught and if caught will be given the option to work with the intelligence agencies. Computer crime is prosecution
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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 performance. The fraud is committed without
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Ethics in Management Accounting What are ethics? According to the Merriam-Webster dictionary, ethics are defined as, “Rules or behavior based on ideas about what is morally good and bad.” Ethics are rooted in an individual or an entire group’s moral values that govern daily behavior and crucial decisions. From a professional perspective, ethics provide a given quality and ensures a fair practice. In terms of business, it is the moral duties and obligations that apply to various professions and their
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white-collar is associated by individual of a higher social class. Some of the crime can be characterized as any antitrust violations, computer and internet fraud, credit card fraud, phone and telemarketing fraud, bankruptcy fraud, healthcare fraud, environmental law violations, insurance fraud, mail fraud, government fraud, tax evasion, financial fraud, securities fraud, insider trading, bribery, kickbacks, counterfeiting, public corruption, money
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when using a computer and the Internet. Cybercrime, or computer crime, focuses on the information stored in electronic media, which is why it is sometimes referred to as information technology crime or info crime. This can be anything from downloading illegal music file to stealing money from online bank accounts. Cybercrime can also include non-monetary offenses, such as creating and distributing viruses on other computers or posting business information on the Internet that is meant to be confidential
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Cyber Crimes Cyber crimes are on some of the hardest crimes for the police to stop and catch the perpetrators because they can commit a crime in one state or country and physically be in another state or country. While the invention of the Internet has had great affects on the growth of technology, it has also given criminals an extremely large place to hide in and the laws are still trying to catch up with the growth of technology. The different technology crimes that occur fall into one of
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ISSN 1940-204X Koss Corporation Corporate Governance, Internal Controls, and Ethics: What Went Wrong? Melanie O. Anderson Slippery Rock University INTRODUCTION THE ACCOUNTING FUNCTION Koss Corporation is a Milwaukee company whose principal business is the design, manufacture, and sale of stereo headphones and related accessories. Michael Koss is the CEO; his father, John Koss, founded the company in 1958. The company has trademarks and patents for its products to differentiate
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