Accounting Practice On Trial with WorldCom
- More Financial Messes. // Practical Accountant;Aug2002, Vol. 35 Issue 8, p6
Reports the corporate accounting scandal of WorldCom Inc. in the U.S. Call of Treasury Secretary Paul O'Neill to jail fraudulent corporate executives; Disclosure of false financial statements; Plans of the Department of Justice to file criminal charges against WorldCom executives.
- LACK OF BUYERS WILL SLOW WORLDCOM ASSET SALE. Bischoff, Glenn // Telephony;7/1/2002, Vol. 242 Issue 26, p10
Reports on the effect of lack of buyers on WorldCom asset sale. Statement given by Vice Chairman Lawrence Babbio of Verizon on the asset sale of WorldCom; Reasons for the lack of buyers of assets of WorldCom; Problem of WorldCom with UUNet.
- MBS roundup: Mortgages entering a precarious state. Runyan, Sally // Asset Securitization Report;7/1/2002, Vol. 2 Issue 26, p10
Focuses on the mortgage management of the accounting fiasco of WorldCom Inc. in the U.S. Introduction of convexity buying; Assessment of the financing rate of mortgage banks; Information from Mortgage Bankers Association.
- Janet jumps from KPNQwest pan into WorldCom fire. Adshead, Antony // Computer Weekly;7/4/2002, p1
Reports the impact on the accounting scandal of KPNQwest and WorldCom on UK Education and Networking Association (Ukerna) in Great Britain. Decision of Ukerna to transfer from KPNQwest to WorldCom; Withdrawal of Ukerna on the contract with KPNQwest; Vulnerability of telecommunication market.
- WorldCom shockwave could hit PFI. // PFI Report;Jul2002, Issue 65, p4
Focuses on the effect of the collapse of U.S. telecommunications company WorldCom on companies involved in private finance initiative (PFI) accounts. Comments on the public scrutiny over PFI; Background on the WorldCom controversy; Impact on accounting practices.
- 'Creative' accounting practices are nothing new but we need to be able to put our trust in companies. Tora, Brian // Money Marketing;7/4/2002, p28
Comments on creative accounting practices of companies in Great Britain. Issues surrounding accounting practices; Controversies concerning corporate financial reporting; Impact of WorldCom's controversy on the financial industry.
- WorldCom: No Pat Answers. Nolle, Tom // Business Communications Review;Aug2002, Vol. 32 Issue 8, p8
Discusses the problems experienced by WorldCom before announcing an accounting fraud in the U.S. Revenue shifts in the service provider market; Impact of the Internet on the company; Compensation of executives; Winners and losers in the WorldCom scandal.
- WorldCom: Past Memories, Future Scenarios. // Business Communications Review;Aug2002, Vol. 32 Issue 8, p58
Comments on the accounting crisis faced by WorldCom in June 2002. History of Microwave Communications Incorporated (MCI); Losses incurred by WorldCom due to the accounting fraud.
- EBRI miscalculation. // Pensions & Investments;8/5/2002, Vol. 30 Issue 16, p10
Editorial. Focuses on the effect of retirement plan assets on the stock value of WorldCom Inc. in Washington. Estimation of the business losses of the company; Decrease of stock prices; Accounts on the impartiality of the research conducted by the Employee Benefit Research Institute.