Question
Hello, I need some help with this discussion question. It should be a detailed answer. Thank you! The statement of cash flows has traditionally been
Hello, I need some help with this discussion question. It should be a detailed answer. Thank you!
The statement of cash flows has traditionally been thought of as the fraud-proof statement. Usually, it is the statement that is most difficult to fudge, explain why that is? WorldCom changed everything in the early 2000s. WorldCom had reclassified $3.8 billion in expenses as capital purchases. What were they trying to accomplish on the statement of cash flows? On the income statement? What happened to WorldCom, its officers and Arthur Anderson, and its auditor?
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