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  • Accounting Fraud

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    Jeric Risma
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    Worldcom was involved in a large accounting fraud scheme that misrepresented the company's financials. Accountants improperly capitalized line costs that should have been recorded as expenses, inflating reported earnings and hiding losses. The fraud ultimately led to Worldcom filing for bankruptcy in 2002, resulting in losses for shareholders and employees.

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    Worldcom was involved in a large accounting fraud scheme that misrepresented the company's financials. Accountants improperly capitalized line costs that should have been recorded as expenses, inflating reported earnings and hiding losses. The fraud ultimately led to Worldcom filing for bankruptcy in 2002, resulting in losses for shareholders and employees.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    2 views1 page

    Accounting Fraud

    Uploaded by

    Jeric Risma
    Worldcom was involved in a large accounting fraud scheme that misrepresented the company's financials. Accountants improperly capitalized line costs that should have been recorded as expenses, inflating reported earnings and hiding losses. The fraud ultimately led to Worldcom filing for bankruptcy in 2002, resulting in losses for shareholders and employees.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    UNENDING SCHEME: THE UNRAVELD ISSUE OF ACCOUNTING

    FRAUD

    Prompter: Accounting fraud scheme caught at hand! Detailed report to be

    given by __________. (Name sa reporter)

    Reporter: Worldcom has its worst nightmare when an event occurred

    involving their accountants resulting to financial fraud.

    Reporter: The main problem encountered by the second largest long

    distance telephone company in America (Worldcom) is their cost

    increasing rapidly rather then their revenue. Also almost

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