Hattiesburg, Massachusetts . WorldCom make great growth strokes through mergers, acquisitions, long distance rates, and cutting edge technology in the communications industry. It achieved an unprecedented success that would soon unveil accounting fraud, scandal, and shameful demise. But in 2002 Enron and WorldCom were exposed as corrupt organizations, run by fraudsters that had lined their pockets with tens of millions of dollars and destroyed $240 billion dollars worth of investor's money (BBC News
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a) INTRODUCTION ACKNOWLEDGEMENT Praise to Allah for six (6) months I undergo my internship that begins on early February this year till end of July, I finally successfully completed my Industrial training report. For the remaining days that I have to continue my training in order to complete my course, I pray to Allah hoping my journey is in His bliss. I also would like to extend my thankfulness to the most precious persons in my life, my father and mother for all their moral support
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AICPA Code of Professional Conduct Teresa K. Grimm 376 September 2, 2013 Sylvia Baughey AICPA Code of Professional Conduct I will be describing what the main reason of having the AICPA Code of Professional Conduct and why it’s the foundation of the ethical reason in the accounting world. I will also try to explain what I believe to be the most three important principles and why they are the most important. The main reason behind the AICPA Code of Professional Conduct is to uphold
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In Focus: The Enron Scandal This corporation was identified by Fortune Magazine as America’s Most Innovative Company 1996 to 2001 (Lindstrom par. 1). It was garnered as the 7th largest company on the Fortune 500 list in the US in 2000 and it placed sixth in the largest energy company in the world in 2000 (“Enron Corporation” par. 6). Who does not know the Enron Corporation, a giant in the commerce of energy? But among all these prestigious titles, there is another that the Enron Corporation
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Running Head: Elitism and Institutional Power Play University of Phoenix Arnella Trent Pol / 443 July 23, 2008 WORD COUNT (646) The Washington Post is the most read paper in the Washington Metropolitan area. The paper is a voice in the City which has a significant level of power that shapes public opinion and attitudes. The attitudes are form during, and after reading
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The Enron Scandal and Moral Hazard Prof. Leigh Tesfatsion Department of Economics Iowa State University Ames, IA 50011-1070 http://www.econ.iastate.edu/tesfatsi/ Last Revised: 3 April 2011 The Enron Scandal and Moral Hazard • Enron, the 7th largest U.S. company in 2001, filed for bankruptcy in December 2001. • Enron investors and retirees were left with worthless stock. • Enron was charged with securities fraud (fraudulent manipulation of publicly reported financial results, lying
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A Walk Through Time The significant moments in time collectively make up our nations history. In that history we see change, growth and experience loss. These events make us the people, that make up the country that love and contribute to. I chose five events in time that brought about a tremendous change across the world, and making life as we know it today, a walk in the park. MONTGOMERY BUS BOYCOTT Montgomery Alabama, 1955 and 1956 was
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Watergate Paper Paul Salabarria HIS/145 June 26, 2012 Jeff Wilson Watergate Paper Watergate was a scandal that involved a break-in into the offices of the Democratic National Committee during the Nixon administration. Watergate was one of the most famous political scandals in American history. Decades after Watergate historians and others continue to argue about its causes and significance (Brinkley, 2007). It marked a period that both weakened our relationships with other countries as well as
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public. Especially after many recent scandals that have more then embarrassed the industry. The overall idea behind the field of accounting is for accountants to serve the public for the greater good. Yet the public doesn’t feel that accountants can be trusted. Hence, the numerous amounts of regulations imposed by the government on the finance field. In this paper we discuss the field of finance and accounting, overall view of the public, several scandals that led to the lowly perception of the
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Business Research Ethics Mary Beth Dooley Res 351 March 26, 2012 Erica Mitchell Unethical issues are something that every business greatly tries to ignore. This isn’t always the case but a majority of them try to make sure they are handling all business in a very ethical way. The article that I read speaks about a business that didn’t act in such a way when it came to some of the information that it shared with stockholders and analysts. The company in which
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