WorldCom Public Relations Group is the world's leading network of independently owned public relations counseling firms. WorldCom has 107 offices in 95 cities in 46 countries on five continents, more than 1,800 employees and revenue in 2009 of more than US $215 million. Established in 1988, WorldCom was formed so that the strongest, most capable independent public relations firms could serve national, international and multi-national clients while retaining the flexibility and client-service focus inherent in independent agencies. ACCOUNTING FRAUD
$11 Billion Accounting Fraud over 3 year period (1999 - 2002) Understatement of operating expenses of $7B through improper release
WorldCom was dominated by Ebbers and Sullivan, with virtually no checks and constraints placed on their actions Significant pressure to meet the numbers Lack of courage of employees to communicate the fraudulent activates believed it would have cost them their jobs A financial system in which controls were extremely deficient The BOD and Audit Committee did not appear to have had an adequate understanding of the company and culture
i t f ll t c v ti li f cc ti t t is c s rv tis ic W rl c s s c s l l sl f r ti f t r l ss f r i t fi l cc ts f t rtic l r fi ci l r. W rl c t f ll t is c c t f cc ti s t r v ic s t ct ll t ir ri i l r v . Aft r f S ci l I v sti tiv C itt t cc ti rr rs r isc v r . t v rific ti T c t $11 Billi Acc ti Fr v r3 r ri (1999 2002).S , i r s lt rl c s till 2003.
Be aware of your environment No job is worth breaking the law or committing unethical acts Your personal integrity is your most important asset you own it and control it If it seems too good to be true, it probably is.
Share capital or issued capital or capital stock refers to the portion of a company's equity that has been obtained by trading stock to a shareholder for cash or an equivalent item of capital value.
Authorized 150,000,000 Equity Shares of Rs.10 each Issued, Subscribed and Paid up 144,683,510 Equity Shares of Rs 10 each total -
1,446.8
Amount appropriated out of earned surplus (retained earnings) for future planned or unforeseen expenditure.
General Reserve
85499.00
27,836.6
17,250.1
A secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan Secured loans From Banks, against hypothecation of Stores, Raw Materials , Finished Goods Stock in Process and Book Debts Cash Credit Total Rs.in millions. 129.8
129.8
Loan extended only on the basis of the borrower's financial position, creditworthiness, credit history, and general reputation. The borrower signs a promissory not but does not pledge any specific asset as collateral
Unsecured loanSales tax deferral Liability/Loan, an incentive under Package Scheme of Incentives 1983, 1988,1993 and 1998 Fixed Deposits, unclaimed In foreign currency, from a bank as packing credit facility against exports Total
0.2 2485.0
15700.0
Fixed asset, also known as a non-current asset or as property, plant, and equipment (PP&E), is a term used in accounting for assets and property which cannot easily be converted into cash for eg:- Land, buildings, equipment, machinery, vehicles, leasehold improvements, and other such items
Fixed assets of Bajaj auto Land free hold Plant n machinery Furniture n fixtures Factory equipments
Actual payment of cash or cash-equivalent for goods or services, or a charge against available funds in settlement of an obligation as evidenced by an invoice, receipt, voucher, or other such document. Revenue expenditure is cash used in payment for goods and services consumed in a short period. Expenditure Materials Other Expenses Interest Depreciation and write downs Total Rs.in millions(till 2010) 80,704.4 12,736.5 59.8 1364.5 94708.5
A taxable payment declared by a company's board of directors and given to its shareholders out of the company's current or retained earnings, usually quarterly. Dividends are usually given as cash (cash dividend), but they can also take the form of stock (stock dividend) or other property
2010 5787.3