First Sentence:
In June 2002, WorldCom announced that during the previous two years $3.8 billion in costs had been capitalized rather than expensed.
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Key Phrases - Statistically Improbable Phrases (SIPs):
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computer general controls, preliminary audit strategies, control risk approach, preliminary audit strategy, investing and financing cycles, sales adjustment transactions, further audit procedures, allocation assertion, analytical procedures risk, significant inherent risks, payable turn days, cutoff statement, specific audit objectives, account balance assertions, assessing control risk, auditing the revenue cycle, using generalized audit software, computer application controls, competent audit evidence, lower assessed level, revenue cycle transactions, programmed application controls, allowance for sampling risk, accounts payable master file, designing substantive tests
Key Phrases - Capitalized Phrases (CAPs):
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United States, Hood Furniture, Public Companies Accounting Oversight Board, Single Audit Act, Intel Corporation, Performance View, Risk Advisory, Securities Act, Julia Anderson, Ace Finance Company, Alpha Corporation, Harris Company, New York, American Institute of Certified Public Accountants, Arthur Andersen, Supreme Court, Big Four, Dennis Brewer, Keith Brown, Les Browning, Waste Management, Craig Ferris, Amalgamated Products, Balance Objectives Existence, Conrad Saws
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