Fraudulent Financial Reporting and Ethics at WorldCom Case Study

Fraudulent Financial Reporting and Ethics at WorldCom - Case Study Example As a result, the company incurred very substantial losses. These enormous losses meant that the business could not attain standards set by stock exchange analysts (Kaplan, Robert, and Kiron, 2004). WorldCom decided to hide these losses and buy time so that they could pay their expenses later. WorldCom’s senior management resorted to fraudulent practices to conceal these losses. The company agreed to have intentionally misappropriated over $3.8 billion. This amount was a line cost liability, but it was reported as a long-term capital investment. Line costs are funds that WorldCom paid to other telecommunication companies to lease their communication networks. Line costs were supposed to be as current liabilities in WorldCom’s profit and loss account. In 2001, $ 3.055 billion was said to have been wrongly assigned by the company. A sum of $797 million is supposed to have been allocated in 2002. WorldCom claimed that $14.7 billion was reported as line cost during the year of 2001 (Kaplan, Robert, and Kiron, 2004). Having allocated the expense as a capital investment, WorldCom increased its net annual income. This is because the line cost, a current liability, was inaccurately reduced. Following this, there were increments in the company assets since capital costs are considered investments. On 8th August 2012, WorldCom to have used its financial reserves wrongfully. Reports revealed that WorldCom used funds in reserve accounts to pay line expenses. Reserve accounts hold precautionary money for companies to use in case of an unforeseen event. The United States Stock Exchange Commission requested WorldCom to avail financial reports suspected to be.  

LED :: essays research papers

Q: What is LED (Light Emitting Diode)? A: LED (Light Emitting Diode) is the most commonly used backlight for Cellular phones. The LED backlight offers some benefits over the EL backlight. To start, the LED backlight does not require an inverter, just a DC source of +3VDC~+5VDC. Secondly, depending on the backlight configuration, the brightness can very bright, and thirdly, the life of the LED exceeds 50K hours. http://www.microtipsusa.com/content/Products_FAQS.asp#17 Abbreviation of light emitting diode, an electronic device that lights up when electricity is passed through it. LEDs are usually red. They are good for displaying images because they can be relatively small, and they do not burn out. http://www.webopedia.com/TERM/L/LED.html http://www.edgesystem.net/LED_light_therapy.htm A small indicator light most often used to show the power is on or the device is being used. LEDs are found on your computer case, monitor, printer, modem, CD-ROM drive, and hard drive. What is Inside an LED? LED's are special diodes that emit light when connected in a circuit. They are frequently used as "pilot" lights in electronic appliances to indicate whether the circuit is closed or not. A a clear (or often colored) epoxy case enclosed the heart of an LED, the semi-conductor chip. LED leads side lead on flat side of bulb = negative The two wires extending below the LED epoxy enclosure, or the "bulb" indicate how the LED should be connected into a circuit. The negative side of an LED lead is indicated in two ways: 1) by the flat side of the bulb, and 2) by the shorter of the two wires extending from the LED. The negative lead should be connected to the negative terminal of a battery. LED's operate at relative low voltages between about 1 and 4 volts, and draw currents between about 10 and 40 milliamperes. Voltages and currents substantially above these values can melt a LED chip. The most important part of a light emitting diode (LED) is the semi-conductor chip located in the center of the bulb as shown at the right. The chip has two regions separated by a junction. The p region is dominated by positive electric charges, and the n region is dominated by negative electric charges. The junction acts as a barrier to the flow of electrons between the p and the n regions. Only when sufficient voltage is applied to the semi-conductor chip, can the current flow, and the electrons cross the junction into the p region. In the absence of a large enough electric potential difference (voltage) across the LED leads, the junction presents an electric potential barrier to the flow of electrons.

Old Testament Leadership Essay

Introduction The Holy Scriptures are without question a vault of rich wisdom for a variety of subjects. The subject of leadership is no different; in fact a case can perhaps be made that the Holy Scriptures are word pictures of God’s leadership for humankind. Whether it is read as the divinely, inspired word of God, or as a mere historical account of ancient Israel, or as a book of pure myths, the reader will encounter fascinating people with extraordinary leadership qualities. The following will take a glimpse at Moses; the man whom God chose to be the leader of the Hebrew slaves in Egypt, into a land that flowed with milk and honey. The following will be an attempt to document moments of strength, weakness, failure, and victory. This paper will conclude by identifying Moses as a servant leader who, in spite of human failure, ultimately fulfilled the will and purpose of God. Leadership Style The style of leadership that Moses demonstrated was clearly Servant leadership, â€Å"In order to retain the potential in this young man, God led him into the Midian desert to learn a new way of life† (Kuest, 2009). As a shepherd he learned to serve, and became servant to the purpose and will of God. Relationships Moses although he spent much time on Mount Sinai (in relationship with God), he also spent time with his successor Joshua whom he had prepared for Servant Leadership (Num. 11:28). Incarnation Moses was not a detached leader. In fact throughout the wilderness journey, he was among the people. He was an accessible leader. Evidence of this fact is found when there were needs the people went straight to him (Num. 20:1-13). Covenants OLD TESTAMENT LEADERSHIP 3 Moses was perhaps known for many things; in fact it is widely known that Moses is regarded as one of the Jewish people’s greatest prophets/leaders. One specific thing that Moses is known for is the Mosaic Covenant. The bible states â€Å"If you obey me fully and keep my covenant, then out of all the nations you will be my treasured possession. Although the whole earth is mine, you will be for me a kingdom of priest and a holy nation† (Ex. 19:5-6). Moses In spite of his greatness, Moses was a man with weaknesses. As the time when he was supposed to speak to the rock but instead hit the rock, thus failed to do what he was instructed to do. Moses over saw victories, and uprisings by his own people, however, through it all he was the man whom God had called and he was servant to that calling. Conclusion Perhaps his greatest strength was his relationship with God, the time that he spent in the presence of the Almighty God had to be his constant reminder that what he was doing was greater than himself. Moses’s weakness and failure did not hinder him from desiring to see God’s glory, these experiences on the mountain top made him who he was. OLD TESTAMENT LEADERSHIP 4 References Kuest, R. (2009). Uncommon leadership: Servant Leadership In A Power-Based World. Second Edition. New Missions Systems International. Ft. Myers, Fl. KJV (2013). iPad app.

USS Ohio (BB-12) and the Great White Fleet

USS Ohio (BB-12) was a Maine-class battleship that served with the US Navy from 1904 to 1922. The first warship named for the state since the ship-of-the-line USS Ohio that had been launched in 1820, the new battleship represented an improved version of the earlier Illinois-class. Built in San Francisco, Ohio joined the fleet and saw immediate service in the Far East. Transferring to the Atlantic in 1907, it joined the Great White Fleet for its cruise around the world. Ohio was modernized in 1909 and later supported American operations in Mexico. Though briefly decommissioned, it returned to active duty with the US entry into  World War I. Fulfilling a training role during the conflict, Ohio was placed in reserve in 1919 before being removed from the fleet three years later.   Design Approved on May 4, 1898, the Maine-class of battleship was meant to be an evolution of USS Iowa (BB-4) which entered service in June 1897 as well as the more recent Illinois-class. As such, the new battleships were to be of a sea-going design rather than the coastal configuration used in the Indiana- and Kearsarge-classes. Initially designed to mount four 13/35 cal. guns in two twin turrets, the design of the new class changed under the guidance of Rear Admiral George W. Melville and more powerful 12/40 cal. guns were selected instead. This main battery was supported by sixteen 6 guns, six 3 guns, eight 3-pdr guns, and six 1-pdr guns. While the first designs called for using Krupp Cemented armor, the US Navy later decided to utilize Harvey armor which had been employed on earlier battleships. Construction Designated USS Maine (BB-10), the lead ship of the class became the first to carry the name since the armored cruiser whose loss helped incite the Spanish-American War. This was followed by USS Ohio (BB-12) which was laid down on April 22, 1899 at Union Iron Works in San Francisco. Ohio was the only member of the Maine-class to be built on the West Coast. On May 18, 1901, Ohio slid down the ways with Helen Deschler, a relative of Ohio Governor George K. Nash, acting as sponsor. In addition, the ceremony was attended by President William McKinley. Over three years later, on October 4, 1904, the battleship entered commission with Captain Leavitt C. Logan in command. USS Ohio (BB-12) - Overview: Nation: United StatesType: BattleshipShipyard: Union Iron WorksLaid Down: April 22, 1899Launched: May 18, 1901Commissioned: October 4, 1904Fate: Sold for scrap, 1923 Specifications Displacement: 12,723 tonsLength: 393 ft., 10 in.Beam: 72 ft., 3 in.Draft: 23 ft., 10 in.Speed: 18 knotsComplement: 561 men Armament 4 Ãâ€" 12 in. guns16 Ãâ€" 6 in. guns6 Ãâ€" 3 in. guns8 Ãâ€" 3-pounder guns6 Ãâ€" 1-pounder guns2 Ãâ€" .30 in machine guns2 Ãâ€" 18 in. torpedo tubes Early Career As the United States newest battleship in the Pacific, Ohio received orders to steam west to serve as flagship of the Asiatic Fleet. Departing San Francisco on April 1, 1905, the battleship carried Secretary of War William H. Taft and Alice Roosevelt, daughter of President Theodore Roosevelt, on an inspection tour of the Far East. Completing this duty, Ohio remained in the region and operated off Japan, China, and the Philippines. Among the ships crew at this time was Midshipman Chester W. Nimitz who would later lead the US Pacific Fleet to victory over Japan in World War II. With the end of its tour of duty in 1907, Ohio returned to the United States and transferred to the East Coast. Great White Fleet In 1906, Roosevelt became increasingly worried regarding the US Navys lack of strength in the Pacific due to the growing threat posed by the Japanese. To impress upon Japan that the United States could move its main battle fleet to the Pacific with ease, he began planning a world cruise of the nations battleships. Dubbed the Great White Fleet, Ohio, commanded by Captain Charles Bartlett, was assigned to the forces Third Division, Second Squadron. This group also contained its sister ships Maine and Missouri. Departing Hampton Roads on December 16, 1907, the fleet turned south making port calls in Brazil before passing through the Straits of Magellan. Moving north, the fleet, led by Rear Admiral Robley D. Evans, reached San Diego on April 14, 1908. Briefly pausing in California, Ohio and the rest of the fleet then crossed the Pacific to Hawaii before reaching New Zealand and Australia in August. After taking part in elaborate and festive visits, the fleet cruised north to the Philippines, Japan, and China. Completing port calls in these nations, the American fleet transited the Indian Ocean before passing through the Suez Canal and entering the Mediterranean. Here the fleet parted to show the flag in several ports. Steaming west, Ohio made visits to ports in the Mediterranean before the fleet regrouped at Gibraltar. Crossing the Atlantic, the fleet arrived at Hampton Roads on February 22 where it was inspected by Roosevelt. With the conclusion of its world cruise, Ohio entered the yard at New York for a refit and received a new coat of gray paint as well as had a new cage mast installed. Later Career Remaining at New York, Ohio spent much of the next four years training members of the New York Naval Militia as well as conducting occasional operation with the Atlantic Fleet. During this period it received a second cage mast as well as other modern equipment. Though obsolete, Ohio continued to fulfill secondary functions and in 1914 helped support the US occupation of Veracruz. That summer the battleship embarked midshipmen from the US Naval Academy for a training cruise before being deactivated at Philadelphia Navy Yard that fall. Each of the next two summers Ohio reentered commission for training operations involving the Academy. With the US entry into World War I in April 1917, Ohio was re-commissioned. Ordered to Norfolk following its re-commissioning on April 24, the battleship spent the war training sailors in and around the Chesapeake Bay. With the conflicts conclusion, Ohio steamed north to Philadelphia where it was placed in reserve on January 7, 1919. Decommissioned on May 31, 1922, it was sold for scrap the following March in compliance with the Washington Naval Treaty.