The purpose of this assignment is to understand the challenges facing forensic business investigations and working with limited financial and non-financial information.
Brief Background: The WorldCom Inc. scandal which involved nearly a $4 billion accounting fraud, wiped out the value of shareholder investments and created significant public outcry. The accounting fraud essentially involved the capitalisation of expenses and the use of balance sheet reserves to write off uncollectible debtors, litigation costs and company acquisition related costs, including overvaluing goodwill.
Question to answer: Analyze the attached WorldCom financial statements using Beneish ratios and derive M-scores for the financial years 2000 and 2001 using both the five variable and eight variable models . Show all calculations. What does your analysis suggest?
Word Limit: 800-900 words
Deadline: 3 days
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