YOU WERE LOOKING FOR :Irregularities in Accounting at WorldCom and Enron
Essays 1 - 30
savvy ways of getting things done. That is, until the fall of 2001. The nation, already shocked and stunned by the tragedy...
employees - and even the economy. In the end, no one has benefited from either situation, because the methods were done in secrecy...
principles of accounting in the U.S. (Larson et al, 2001). Since that time, a number of authoritative bodies have been instituted ...
and diligence and independence at the auditing level" (Anonymous, 2003). From a broader perspective, one of the main reason...
in accountants and the way accounts were prepared was being shaken. The entire financial basis of the stock markets requires tha...
as CEO and Chairman on February 4, 2002; Jeffrey K. Skilling, former CEO and Director; Andrew S. Fastow, former chief financial of...
derivative, why its typically used and how its typically used. Following that, we can go in depth into both Enron and Worldcom, an...
effect to such things, and these situations are no different. When people lose jobs, families suffer, economies suffer, communiti...
a result of ending some of the companys more obscure partnerships (Leonard, 2001). And, it was these partnerships that severely h...
2005). The result would be an increase in the current years EBIDTA (Scharff, 2005). The line costs, in fact, were the main ...
thousands of businesses around the world" (Moberg and Romar, 2002). It also carried "more international voice traffic than any oth...
accounting system it may be argued that a collapse in the style of Enron is much more unlikely due to very different accounting en...
(Fixmer, 2002). Network security. By 2002, there had been few lawsuits in this area, but even then it was recognized as on...
corporation. But to avoid conflict of interest, SPEs are supposed to be run by outsiders who have no involvement in the main compa...
front panel." Kozierok (2001) also explains that the term "external drive bay" is a "bit of a misnomer" in that the term ex...
as consumers have an increased awareness of less tangible aspects, such as corporate governance and ethical and moral responsibili...
its current ratio is understandable. WorldComs values in these two ratios reflect its precarious operation position. Neith...
corresponding functional interest in them * The interests of all stakeholders are of intrinsic value (Donaldson et al, 1995, pp. 6...
these contributions finds one incorporating the interests of ethics and morality within the corporate structure, essential concept...
for bankruptcy due to its inability to hide such tremendous losses any longer. It took a matter of three month for the company to...
This demand is impacted by information regarding that share as well as market conditions. In the case of Enron and WorldCom the we...
of philosophy dealing with right and wrong and the morality of motives and ends" (Shaughnessy, 2002, p. 20). But questions of ethi...
known as the going concern concept1. In looking at the viability of the business the potential creditors are seeking to ensure tha...
rules and audits the accounts. When looking at the failure of Enron it is these accounting standards that appear to fail. In looki...
made available to all of the outside world including Wall Street analysts. The news of its financial problems came as a surprise ...
processes (Chidi, 2002). Some of the accounting techniques used at WorldCom in order to supplement R&D write-offs included the use...
not been given any authority greater than that which resides in with the Security and Exchanges Commission (SEC), which can cause ...
fraud when accounting (Miller & Bahnson, 2005). In addition to the GAAP standards, some businesses, especially those outside the U...
The writer analyses survey results provided by the student. The survey was undertaken to determine whether or not attitudes toward...
In the financial markets are regulated by the Securities and Exchange Commission (SEC). The principal purpose of the SEC is to "pr...