Ethics in Finance Case Study Essay - 1153 Words

Bradley Miller 2/12/15 Seminar of Finance Case Study Ethics in Finance 1. Have I defined the problem correctly and accurately? Answer: The problem was that the WorldCom Company was falling farther and farther into debt and they needed a way out of this hard time. The CEO came to us with a plan to turn the company or in reality to make it look as if the company was headed into the right direction, when in fact it was not. The plan was to use other accounts that have holding money in them for other various projects to make the revenue look as though it was high and still climbing. 2. If I stood on the other side of the problem, how would I define it? Answer: I would define the situation as what it is, fraud. This company was at one†¦show more content†¦I also have to look at the consequences of my actions when dealing with financials for a big company that only wants to see revenue increases. Do I go with it or try and swing the minds of the beholder. 5. What is my intention in making this decision? Answer: My intention for making the decision to keep my mouth closed was to keep my good paying job and to make the company seem as if it was healthy and that it is steadily making its yearly revenue even if it is the wrong thing to do. I knew my decision was wrong but I still went through with it because my CEO told me to do so and that no one would ever find out that I was one of the managers that aided in the fraud. 6. How do the likely results compare with my intention? Answer: The results were that someone found out about the fraud that I and the company had filed, correlate with one another. I knew from past companies that had tried this fraud got caught and I just looked the other way because I was still getting paid and at the time money was the root of all evil. My intention was to make the company look rich so that investors would buy into the stock of the company and I did so until the SEC looked into the books and saw the transfers we made from various accounts to keep revenues up. 7. Can my decision injure anyone? How? Answer: My decision can injure people or families mentally and physical ways as well. Mentally people can be hurt because the money they invested might have been their life savingsShow MoreRelatedEthics Of The Financial World1056 Words   |  5 PagesAshanti Bennett Evonne Whaley BUS-101 27 September 2014 Ethics in the Financial World My form of business includes finances, mainly accounting and auditing. As I progress towards my accounting degree, I found out that there are many issues that I have to deal with in regards to the business itself. Eventually, finances also have to go through ethical issues. 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