Please, write a 6 pages Research paper. Note that 6 pages mean 6 pages of double-spaced typed material with one-inch margins left, right, top and bottom, and Times New Roman, 12-point font. The cover...

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Please, write a 6 pages Research paper. Note that 6 pages mean 6 pages of double-spaced typed material with one-inch margins left, right, top and bottom, and Times New Roman, 12-point font. The cover sheet, table of contents, index, pictures, long quotations or multiple quotations will not count toward the 6 pages. Students must cite all sources and use a minimum of five in their research papers. Wikipedia cannot be used as a source.



Please, make sure to provide the turnitin report.



Thank you.



Topic:
“WorldCom and Arthur Anderson scandal”




Instructions: Please, write a 6 pages Research paper. Note that 6 pages mean 6 pages of double-spaced typed material with one-inch margins left, right, top and bottom, and Times New Roman, 12-point font. The cover sheet, table of contents, index, pictures, long quotations or multiple quotations will not count toward the 6 pages. Students must cite all sources and use a minimum of five in their research papers. Wikipedia cannot be used as a source. Please, make sure to provide the turnitin report. Thank you. Topic: “WorldCom and Arthur Anderson scandal” Term Paper ACC 538 You are encouraged to research a topic of your choosing related to the application of U.S. law to the business sector. This may include a topic in which you are interested and want to learn more, a problem you would like to solve, or an answer or response to a situation. Your writing should focus on:  elements and defenses for each of the common law torts.  UCC contract law, including contract formation and appropriate remedies for a breached contract.  obligations and remedies of buyers and sellers under the UCC, and security interests.  types of bankruptcy relief, by chapter of the bankruptcy code. Understand agency relationships.  advantages and disadvantages of various forms of businesses. Understand the general concepts of wills and trusts.  idiosyncrasies of Labor and Employment, administrative, Consumer, and Environmental Law. APA format must be used for the paper. Research papers will be 6-10 pages in length. Note that 6-10 pages means 6-10 pages of double-spaced typed material with one-inch margins left, right, top and bottom, and Times New Roman, 12-point font. The cover sheet, table of contents, index, pictures, long quotations or multiple quotations will not count toward the 6-10 pages. Students must cite all sources and use a minimum of five in their research papers. Wikipedia cannot be used as a source. Due Dates: Topic: no later than Sunday, 11:59 PM EST/EDT of Module 2 Final paper: no later than Sunday, 11:59 PM EST/EDT of Module 8 Submission: Submit your chosen topic to the instructor via the course email. Submit the completed Research Paper through the course Dropbox and also to Turnitin.com. Please refer to the course Resources area for specific instructions on how to use Turnitin.com. Term Paper ACC 538 Evaluation Criteria The research papers will be evaluated using the following rubric: Area of Analysis Limited Proficiency (0- 7pts) Developing (8- 15pts) Proficient (16- 24pts) Exemplary (25pts) Thesis or Main Point The main idea is not clear. There is no identifiable thesis statement present. There is a seemingly random collection of information. Main idea is somewhat clear but is not succinctly stated in introduction. There is a need for more specific information. Main idea is clearly stated but writer loses focus throughout essay. There is one clear, well-focused topic. Main idea stands out and is supported by detailed information. Logical Developmen t (Including Unity and Coherence) Many details are not in a logical or expected order. There is little sense that the writing is organized. The transitions between ideas are unclear or nonexistent. Some details are not in a logical or expected order, and this distracts the reader. Some transitions work well; connections between other ideas are fuzzy. Details are placed in a logical order, but the way in which they are presented/ introduced sometimes makes the writing less interesting. Transitions clearly show how ideas are connected, but there is little variety or sophistication. Details are placed in a logical order and the way they are presented effectively keeps the interest of the reader. A variety of thoughtful transitions is used. Writer clearly shows relationship between ideas. Understandi ng of Subject Matter Does not identify, summarize, or explain the main problem or question. Represents the issues inaccurately or inappropriately. Identifies the main issues, but does not summarize or explain them clearly or sufficiently. Successfully identifies and summarizes the main issues, but does not explain significance or implications. Clearly identifies and summarizes the main issues and successfully explains why/how they are problems or questions; and identifies embedded or implicit issues, addressing their relationships to each other. Grammar and Spelling Many grammatical, spelling, or punctuation errors. A few grammatical spelling, or punctuation errors. Almost no grammatical, spelling, or punctuation errors. No grammatical, spelling, or punctuation errors.
Answered Same DayOct 08, 2021

Answer To: Please, write a 6 pages Research paper. Note that 6 pages mean 6 pages of double-spaced typed...

Charanjeet answered on Oct 12 2021
135 Votes
Executive Summary
U.S financial market had gone through a number of scandals like Enron, WorldCom etc. WorldCom or MCI was small company known as LDDS established in 1983 by Bill Fields and Bernie Ebbers. Later on after four years, company went public. A large number of merger and acquisitions made by company which helped in increasin
g its revenue and made it 42th among top fortune companies. Suddenly in 2002 the company filed for re organization under chapter 11 of bankruptcy code. It was revealed that the profits of company was overstated in 2001 and 2002 by showing capitalization of the expenses. The CEO, top management, internal as well external auditors was involved in this fraud. Later on the CEO and the CFO and other parties involved was punished for their wrongdoings and SOX Act 2002 was made to protect the interest of the investors in the future from such malpractices.
Table of Contents
    Sr. No.
    Topic
    Page No.
    1.
    Introduction
    1
    2.
    Background of Worldcom
    1
    3.
    Early Symptoms of Fraud
    1
    4.
    Accounting Sham
    1-2
    5.
    Auditing Malpractices
    2
    6.
    Key Players involved in Scandal
    3
    7.
    Consequences of the fraud
    3
    8.
    After Scandal
    3
    9.
    Measures taken after the scandal
    3-4
    10.
    Conclusion
     4
    11.
    References
    5
Introduction: From late 1990’s to early 2000’s financial market of U.S went through a number of Scandals like Enron, WorldCom etc. These scandals were such drastic that it resulted in lost of faith of the investors. Many people lost their jobs, investors lost their money, board of directors were punished. So it was felt to make such an act which will help in protection of investors. After the happening of these scandals, Sarbanes and Oxely Act 2002 implemented to help auditors in their work. The SOX Act, 2002 was made to address the issues of financial reporting of large companies. The CEO and other top management persons of the WorldCom involved in the scandal was the reason SOX Act was needed to increase the protection of the investors.
Background of WorldCom: WorldCom or MCI was a long distance phone service provider, which was started as a small company known by the name Long Distance Discount Services (LDDS) in 1983 by Bill Fields and his friend Bernie Ebbers. In 1989, Ebbers became CEO of the company, and the company went public. During 1990’s Company made a large number of other telecommunication companies’ acquisition which converted its revenue from $ 154 million in 1990 to $39.2 billion in 2001. This acquisition and revenue made it 42th among 500 fortune companies. It had work force of around 85,000 employees and presence over 65 countries of the world. In 2002, the company revealed that it had indulged in fraudulent reporting by stating its profit as $ 3 billion while there was loss of half a million dollar. This was the eye opening scandal in the history of U.S
Early Symptoms of Fraud
· From 1985 to 1999 the company made various mergers and acqusitions to cover the outstanding debt created by the company. The result of the same is merger/acquisition fraud.
· A 400 million dollar loan provided to the CEO, Ebbers to prevent him from selling shares of WorldCom was also fraud lent wrongdoing.
· The sudden decrease in free cash flow was also an early warning that something wrong was going on. It was decreased from 351...
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