|Company overview||The USA’s second-largest long-distance telephone company in 2002.|
|Best known for||The Biggest Accounting Scandal Ever.|
|Products & services||Conferencing, Contact Centers, Data and IP Services, Internet access, IT Solutions and Hosting, Managed Networks|
|Origins||Founded in 1983 as Long Distance Discount Service, Inc|
|Fate||Acquired by Verizon Communications in 2006|
|Headquarters||Clinton, Mississippi then relocating to Ashburn, Virginia, U.S.|
|Key people||Bernard Ebbers (Founder & CEO), Cynthia Cooper (Vice president), Kim Emigh (Financial analyst)|
|Revenue||About $20.6 billion (2005)|
|Scandals & incidents||In 2002, the Securities and Exchange Commission launched its investigation into WorldCom’s accounting and found that the company had overstated assets by a staggering $11 billion.|
|It is interesting that||WorldCom remains the biggest accounting scandal in U.S. history as well as one of the largest bankruptcies.|
📝 WorldCom Research Papers Examples
- Ethical Role of CorporationsBusiness essay sample: Corporations must not be allowed to avoid their social responsibility since their endeavors affect social, economic and environmental concerns.
- WorldCom Accounting Scandal AnalysisBusiness essay sample: WorldCom which is the US's second-biggest long-distance phone company is considered to have committed the greatest accounting fraud in the annals of the history of the US.
- The Role of Corporate Scandals in Enhancing Financial ReportingBusiness essay sample: Director’s remuneration, lack of corporate social responsibility, increase of non-audit activities and no provision of punishment are the main reasons of corporate collapse.
- Business Ethics Are Good for Society and the EconomyBusiness essay sample: The role of business ethics are good for society and the economy. Its influence on the promotion and development of the business.
- Accounting Fraud at WorldComBusiness essay sample: WorldCom used typical accounting fraud to show a profit of $ 1.4 billion in the year 2001 as against a real loss.
- Rules-Based Versus Principle-Based AccountingBusiness essay sample: Companies have often taken advantage of capricious regulations to cunningly configure business transactions producing favorable and untruthful accounting reports.
- Financial Scandals: Survival vs. Non-SurvivalBusiness essay sample: This paper seeks to establish whether there are unique steps that are taken by the management of firms during the post-scandal period, that lead to the survival of the companies.
- Financial Scandals: Enron, WorldCom, and Waste ManagementBusiness essay sample: The Enron, WorldCom, and Waste Management scandals are examples of well-known financial scandals. They led to the loss of investors’ money and assets worth billions of dollars.
- WorldCom Accounting ScandalBusiness essay sample: The paper analyses the company’s overview and recession, the scandal, its identification, and effects to examine the WorldCom accounting scandal.
🏆 Best WorldCom Essay Titles
- The Role of the Accountancy Profession in Worldcom Scandals
- Accounting and Business Issues: WorldCom’s Failure
- Decision-Making Traps of Worldcom’s Board
- Analyzing the Fraudulent Activities of WorldCom
- WorldCom Financial Statement Manipulation
- Bernard Ebbers and the Grand Success of WorldCom
- Worldcom’s Impact on Corporate World
- Accounting Scandals: Enron and WorldCom
- Business Ethics: Accounting Irregularities at Worldcom and Arthur Andersen
- Worldcom and Reliant Should Be Charged With Felonies
- Corporate Governance Failure of WorldCom
- WorldCom and Rising Auditing Standards
- Financial Markets After Enron and WorldCom Collapse
- Worldcom: Organizational Culture and Unethical Safeguards
- Sarbanes-Oxley Act of 2002: History and Impact
The Sarbanes-Oxley Act aims to improve the safeguarding of the investors’ interests from malicious business practices and misappropriation of investor funds.
- Leadership, Management, and the Failure of Worldcom
- WorldCom: The Telecommunications Industry and Recent Accounting Techniques
- Models That Predict Business Failure; The Application of Models to Real Life – Enron and WorldCom
- Worldcom: What Went Wrong
- Post Enron and WorldCom and Investor Confidence Strengthening
- WorldCom Misled Even the Most Careful Investors
- Relationship Between Andersen and Worldcom
- Worldcom CEO Died After Accounting Fraud Jail Term
- Stricter Auditing Standards Implemented Due to Enron-WorldCom Scandals
- WorldCom: Bankruptcy and Lessons for Investors
- The Earnings Management Issue of WorldCom
- WorldCom, Enron, and the Application of Business Failure Prediction Models
- The Rise and Fall of WorldCom Telecommunications
- Agency Problem in Corporate Governance: The Case of WorldCom
- Researching the Sarbanes-Oxley Act
This Act was passed by President Bush. It was named after its creators, Senator Paul Sarbanes and Representative Michael Oxley.
- Uncertain Economy and the Future of Worldcom
- Worldcom Fraud Scandal: How It Failed
- Lessons From Worldcom: How to Avoid Disaster Stocks
- Rise of WorldCom Strategic Management
- Fraudulent Accounting and the Downfall of WorldCom
- American Greed: Inside the WorldCom Scam
- The Economic Consequences of Accounting Fraud in Product Markets: The Case of WorldCom
- WorldCom Improprieties of Unprecedented Magnitude
- Due Diligence and Reliance Defenses at WorldCom
- Six Steps to Failure: Lessons From WorldCom and Nortel’s Record-Breaking Bankruptcies
- Failing Good Intentions: The WorldCom Fraud and the Collapse of US Telecommunications After Deregulation
- The WorldCom Scam That Changed Everything
❓ WorldCom Research Questions
- Should Worldcom CEO Bernard Ebbers Be Sentenced to 25 Years in Prison?
- What Are the Organizational Behavior Principles of WorldCom?
- In What Ways Was the Worldcom Fraud Committed?
- Enron and Worldcom: What Makes Companies Fail?
- What Was the Leading Cause of the Worldcom Scandal?
- Why Is WorldCom Accounting Fraud Relevant Today?
- What Are the WorldCom Whistleblower Challenges?
- How Has the WorldCom Scandal Impacted Corporate Affairs?
- What Went Wrong at WorldCom?
- How Did WorldCom’s Accountants Conceal Over $9 Billion in Expenses?
- What Are the Financial Consequences of the WorldCom Accounting Scandal?
- How Did Three Unlikely Sleuths Expose Fraud at WorldCom?
- What Happened to WorldCom After the Scandal?
- How Did WorldCom Become Successful?
- What Were the Major Reasons Behind Worldcom Scandal?
- Did WorldCom Have a Code of Ethics?
- What Are the Ethical Issues in the WorldCom Case?
- How Did the WorldCom Scandal Affect the Company and Investors?
- Who Was the Whistleblower at WorldCom?
- What Happened to Worldcom Stocks?