Enron Corporation's fishy accounting practices, the siphoning of profits at Adelphia Communications Corp., allegations of tax fraud and lavish personal spending of company money at Tyco International and WorldCom Inc.'s bid to hide billions of dollars worth of expenses are just a few examples of unethical activities. Scandals and bankruptcies in the United States at companies like Enron and WorldCom Inc. have focused attention on the abuse of the power entrusted to executives by …
showed first 75 words of 481 total

showed last 75 words of 481 total
…services or equipment were booked even if they were not provided, so that departments could meet revenue targets. Outside contractors billed for hours they could not have worked, and some equipment was purchased without anyone checking to see whether it was already in inventory. The documents also show that a small group of WorldCom executives, knowing that their business was eroding rapidly, discussed various accounting maneuvers that would help prop up the company's bottom line.