Adelphia Communications Corporation – Fraud Case In the year 2002, Adelphia Communications Corporation faced a massive accounting scandal that led to company’s bankruptcy and later reorganization. This paper will attempt to identify, analyze and evaluate the consequences of misrepresentation of financial accounts on a company, industry and economic level. Moreover, it will attempt to examine factors influencing the corporate failure from an auditor’s point of view, and consider the measures that
John Rigas and his family are the centerpiece of the Adelphia scandal, which is regarded as one of the most elaborate and extensive accounting frauds in history. In 1952, the founder John Rigas purchased a cable company for three hundred dollars. Twenty years later, he created Adelphia Communications corporations and the company went public. With the help of his family, it eventually grew to be the nation’s 6th largest cable company. John’s sons Timothy, Michael, James and Peter all held executive
21st Century evolved, it appeared as if Adelphia Communications Corporation was on a direct path of success; unbeknownst to their investors and the public, they were in reality on a direct path of destruction instead. Unfortunately, Adelphia is not the first major company in the history of the United States’ business world to lose the trust of the American public, but it is certainly one of the most notable ones to do so. As the events surrounding the Adelphia scandal unfolded in full view of the
The Adelphia Communications Scandal John Rigas started Adelphia Communcations in 1952 with the help of two partners, but soon bought it out. The company was taken public in 1986 and as a result would have to abide by the regulations of the SEC. By the early 2000s, Adelphia was one of the top cable companies in the United States. This was the peak of a corporation that would begin a downward spiral over the first half of 2002 as a result of fraudulent use of the company’s assets at its’ shareholders
Between the years 2000 and 2002 there were over a dozen corporate scandals involving unethical corporate governance practices. The allegations ranged from faulty revenue reporting and falsifying financial records, to the shredding and destruction of financial documents (Patsuris, 2002). Most notably, are the cases involving Enron and Arthur Andersen. The allegations of the Enron scandal went public in October 2001. They included, hiding debt and boosting profits to the tune of more than one billion
American Corporations and Internet Porn In this essay, we shall consider the so-called "reputable" mainstream American companies that are reaping huge profits from Internet porn, as well as related considerations. Marriott, Westin, and Hilton are known for their pornographic video deliveries to paying rooms, a practice which Omni Hotels discontinued when confronted by the American Family Association. On the other hand, Internet porn companies like Yahoo! In its x-rated Geocities sites
Managing an organization’s financial operation requires a good understanding of the economy and ways to maximize revenue. For an organization to operate on a daily basis, adequate cash flow is required. Poor cash management within an organization might make it hard for the organization to function because there may be shortage of cash in case of inconsistences in the market. In most companies, management is interested in the company 's cash inflows and outflows because these determines the availability
CAN-SPAM Act -2003 “The CAN-SPAM Act, a law that sets the rules for commercial email, establishes requirements for commercial messages, gives recipients the right to have you stop emailing them, and spells out tough penalties for violations” (Fingerman, 2004). Information technology and internet introduced the term Spam; irrelevant or inappropriate messages sent on the Internet to a large number of recipients. But any irrelevant and unclear information distributed in bulk by any sort of media can
Cummings, T. G., & Worley, C. G. (2009). Organization development and change. Cengage Learning. Kaplan, R. S., & Norton, D. P. (2000). Having trouble with your strategy?: Then map it. Harvard Business School Publishing Corporation. Byrne, J. A. (1993). The horizontal corporation. Business Week, 20(1993), 76-81. Lu, M. H., Madu, C. N., Kuei, C. H., & Winokur, D. (1994). Integrating QFD, AHP and benchmarking in strategic marketing. Journal of Business & Industrial Marketing, 9(1), 41-50.
Comcast Corporation Rikki Wooten Due Date: 5/1/2017 Introduction Comcast Corporation is a global media, and technology corporation with two primary businesses, Comcast Cable and NBCUniversal. Comcast Cable is one of the top nation's largest video, high-speed Internet and phone providers to home-owner customers under the XFINITY brand, and provides these services to businesses as well. NBCUniversal operates news, entertainment and sports cable networks, the NBC and Telemundo broadcast
being shaped and modified because it is known to have many meanings. According to our text “public relations is a planned process to influence public opinion, through sound character and proper performance, based on mutually satisfactory two-way communications” (Seitel, 2007). Using this definition as guidance has helped in the research process during the 1989 crisis of Exxon Valdez. There were many things that the researchers have found to be informative. Therefore a brief summary will be given in