Following your request, I would like to state how the distinction between money spent on assets and revenue expenses should be made in the company with limited liability. I would also like to use the above accounting concepts to show, by using recent example of WorldCom Inc. bankruptcy, how the can be manipulated and misused in order to overstate annual profit figures. According to the finance and accounting theory revenue spending or expenditure defined as …
showed first 75 words of 1419 total

showed last 75 words of 1419 total
…Pendrill "Advanced Financial Accounting" (6th edition) 3. Kermit D. Larson "Essentials of Financial Accounting" (7th edition) 4. "The Economist" - magazines: issue for June 29th - July 5th and issue for July 20th to 26th 2002 5. www.ft.com (Financial Times) "WorldCom Meltdown" 27th of June 2002 6. www.bbc.com (BBC News) "WorldCom: why it matters"? 26th of June 2002 7. www.cnn.com (CNN Money News) "WorldCom`s Financial bomb". 26TH OF June 2002 8. www.scharlesassociates.com for 7th of October 2002