User Account

All Pages

Accounts receivable embezzlement scheme

Assignment Help Business Management
Reference no: EM133149287

MCI WorldCom

Read the following articles or other related articles regarding the MCI WorldCom case and then answer the questions below:

Sources:

Zabihollah Rezaee and Richard Riley, Financial Statement Fraud: Prevention and Detection (Wiley, 2010), "MCI: The Fraud That WorldCom Acquired," pp. 216-17.

Neil Weinberg, "Aggressive Accounting: Ring of Thieves," Forbes.com, June 10, 2002.

Mike Celizic, "White Collar Ex-con: Jail Looms for Mortgage Execs," MSNBC, October 8, 2008.

For a more complete description of these events, see Pavlo, Walter, Jr., and Neil Weinberg, "Stolen without a Gun: Confessions from Inside History's Biggest Accounting Fraud - the Collapse of MCI WorldCom," Etika, 2007.

Short Answer Questions

1. How much cash did Mr. Pavlo steal in six months?

2. What was the accounting inadequacy at MCI that Mr. Pavlo faced?

3. At least how many financial reporting (accounting) schemes did Mr. Pavlo use for the MCI collection problem?

4. What opportunity did Mr. Pavlo perceive would allow him to perpetrate his fraud and get away with it?

5. How much time did Mr. Pavlo spend in prison?

6. Who were Mr. Pavlo's unintended victims?

Discussion Questions

1. From the excerpt and article, describe the rationalizations used by Mr. Pavlo.

2. Given that Mr. Pavlo's fraud was restricted to an accounts receivable embezzlement scheme, what symptoms might auditors observe?

3. Given that Mr. Pavlo's fraud was restricted to an accounts receivable embezzlement scheme but was buried among legitimate accounts receivable transactions, describe the three most effective data extraction and analysis tests (using IDEA, Picalo, or ACL) for accounts receivable that you believe would identify this fraud and state why you believe them to be effective.

Reference no: EM133149287

Questions Cloud

Compute the break-even quantity of each product : Texas-Q sells three models: a small portable gas grill, a larger stationary gas grill, Compute the break-even quantity of each product
Quantitative methods for application to risk assessment : Employ a range of qualitative and quantitative methods for application to risk assessment - Assess relevant documents and communicate the essential
Evaluate the implementation of telemedicine program : How effective can telemedicine be in the treatment of these patients? What are some of the benefits of this service to the organization and patient?
Compute eric income tax for the year : Eric is single and has no dependents for 2021. He earned $60,000 and had deductions from gross income of $1,800. Compute Eric income tax for the year
Accounts receivable embezzlement scheme : Mr. Pavlo's fraud was restricted to an accounts receivable embezzlement scheme, what symptoms might auditors observe?
Determine the payback period for the project : A project required an initial outlay of $100,000 and is expected to generate annual net cash inflows of $28,000 for next five years. Determine payback period
?what are the characteristics of a corporation : I. ?What are the characteristics of a corporation and the advantages and disadvantages? Provide examples.
Discuss how innovation management can support : Discuss how innovation management can support the achievement of the organisation or department goals.
Currency exchange rate : Did China Make Concerted Efforts to Control its Currency's Exchange Rate During this Period?

Reviews

Write a Review

Business Management Questions & Answers

  In the case of kelo et al v city of new london

In the case of Kelo et al. v. City of New London, 545 U.S. 469 (2005), the US Supreme Court upheld the right of the City of New London

  Define organigraph

Define organigraph. Why is it important to take this concept into consideration is a change process?

  Assignment on introductory reflection

Think of a time when you wrote something that influenced another person. This could be in any context and of any length. For example, it could be a text you sen

  How are the designs different

Describe the three designs (Fixed, Flexible and Mixed Method) and when it is appropriate to use each design?

  Find out the cournot equilibrium

A) Find out the Cournot equilibrium and calculate each firm's profit.

  What does crenshaw mean by intersectionality

What is Crenshaw's critique of both feminist movements and racial justice movements as it relates to intersectionality? What does Crenshaw mean by intersectionality? What is her critique of identity politics as it relates to intersectionality?

  How much is the arbitrage profit

What course of action swap dealer can take to earn arbitrage profit assuming $125 million exposure to the above bond?

  Observation of people with disabilities

Observe your immediate environment such as your community, workplace, school, etc and are you able to observe many people with disabilities

  What four steps should an organization follow

What is the relationship between management information systems and information technology?- What four steps should an organization follow in determining which technologies to use?

  Structure dimension in an organization

Provide a reference that states why Culture dimension should come before Structure dimension in an Organization?

  Worrying signs of developing retinoblastoma

A pair of identical twins both show worrying signs of developing retinoblastoma (eye cancer), often caused by mutations in the RB1 gene. RB1 stops progression

  Process of implementing your individual development plan

What difficulties do you anticipate during the process of implementing your Individual Development Plan?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd