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Improper revenue recognition tops sec frauds

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Reference no: EM133197128

Did you know that improper revenue recognition tops SEC Frauds? According to cfodive.com, "The most well-known example of this scheme involved WorldCom. The company in 2002 overstated its net income by more than $9 billion, in part by improperly capitalizing operating expenses" (Freedman, 2020).

Reference no: EM133197128

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