WorldCom Leads Financial News

Paper Summary:

This paper outlines a Wall Street Journal (WSJ) article about WorldCom's restatement of $7.2 billion in expenses and subsequent financial collapse. The basis of why the editors of the WSJ considered the story leading financial news is explored. Issues related to the study of finance include capital markets and institutions, investments, and financial management. Of particular interest are the financial management issues of accountability, financial statement accuracy, ethics, fraud and corporate responsibility.

From the Paper:

"The financial collapse of WorldCom occurs in the wake of the recent Enron financial scandal. The Wall Street Journal editors correctly categorize the WorldCom story as leading the news (Sandberg & Pulliam, 2002, A3). Attesting to the newsworthiness of the WorldCom story is the fact that this event is being covered in all major news outlets: print, radio, television, and on the web."

More papers on WorldCom Leads Financial News:

• Analytical Essay # 38565 : "Financial News Report"
• Essay # 59859 : "The WorldCom Scandal"
• Term Paper # 146501 : "Accounting Disasters and Changes in Financial Reporting"

APA Citation:

MLA Citation: