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WorldCom: The Final Catalyst on pp. 114-118 1. Describe the mechanisms that WorldCom's management used to transfer profit from other time periods to...

WorldCom: The Final Catalyst on pp. 114-118
1. Describe the mechanisms that WorldCom's management used to transfer profit from other time periods to inflate the current period.
3. How should WorldCom's board of directors have prevented the manipulations that management used?
4. Bernie Ebbers was not an accountant, so he needed the cooperation of accountants to make his manipulations work. Why did WorldCom's accountants go along?
5. Why would a board of directors approve giving its Chairman and CEO loans of over $408 million?

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