Sarbanes-Oxley Act of 2002 The Sarbanes-Oxley Act of 2002 (SOX) resulted from the consequences of the financial disasters perpetuated by financial institutions such as Enron, Worldcom, and even the Savings and Loan debacles that served to fool and cripple the financial markets. As a result of their deceptive accounting practices, many investors lost millions of dollars. SOX was signed into law by President George Bush on the 30th day of July in the year 2002. The Act was lawmakers and legislators
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The Role of Accounting in the Medical Office By Joy Hicks Medical Office Expert An accounting department plays an enormous role within the medical office. As the backbone of the organization, the accounting department allows the organization to operate at its fullest potential. Without an accounting department, it would be impossible for any type of organization to operate in a cost effective manner. General Accepted Accounting Principles (GAAP) are the common set of accounting principles
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to Dr. Jeffery Hillard Dante Pennix Sr. April 21, 2014 My goal is to become a Certified Public Accountant while achieving the goal of owning a lucrative CPA firm. One of the great benefits of choosing tax accounting as a career is that you will always have a job when you graduate. Tax accountants and CPAs will always be in high demand as long as the globalizations of marketplaces continue to develop. Tax accountants also create tax strategies to reduce the amount of taxes a client owes while remaining
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is the company that is responsible for the system of internal control in order to assure the reliability of the information that they produce. 3. Who conducts financial statement audits? Financial statement audits are performed by certified public accountants (CPAs) who are independent from the organization being audited. 4. What is the auditor’s main objective when performing a financial statement audit? The main objective when performing a financial statement audit is to determine whether
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Assignment #1 1. A. In the article “CPA is Disbarred by the Office of Professional Responsibility-Lessons for Tax Practitioners,” a complaint was made by the OCR against Tim W. Kaskey, which alleged that he violated Circular 230 in multiple ways including: 1) willfully failing to file his own tax returns, 2) failing to exercise due diligence in preparing his client’s returns, 3) failing to exercise due diligence in determining the correctness of the written representations he made to the IRS
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look at the impact Sarbanes and Oxley has had on the practice of public accounting. Prior to Sarbanes and Oxley the regulation of public accounting was done internally, through organizations such as the SEC. However with the passage of Sarbanes and Oxley the profession was given an overhaul making companies more accountable. Sarbanes-Oxley was established to improve the quality and transparency of the financial statements issued by public companies. With that purpose in mind Sarbanes-Oxley developed
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I first became involved in the Accounting Association Spring of 2010. I then pledged for the Beta Alpha Psi (BAP) organization and was initiated fall of 2010. I have been an active member since then and became BAP Membership chair spring of 2011. Becoming BAP membership chair is a privilege to me because I get to be the “welcoming person” to our organization. I am a good candidate for this position because I am friendly and very easy to get along with. Being a part of BAP is a wonderful experience
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Lithonia Campus BUS 508 – Contemporary Business March 1, 2012 Strayer University Determine the most important five (5) skills that a forensic accountant needs to possess and evaluate the need for each skill. Be sure to include discussion regarding the relationship between the skill and its application to business operations. A forensic accountant is a specialist in accounting and financial systems that is trained to detect white collar fraud. Forensic Accounting is a fast growing field in
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PROJECT: Forensic Accountants: Fraud Busters 1 Individual Project: Forensic Accountants: Fraud Busters Pamela Turner Professor Ann Nelson Contemporary Business 508 February 13, 2013 Strayer University INDIVIDUAL PROJECT: Forensic Accountants: Fraud Busters 2 Individual Project: Forensic Accountants: Fraud Busters Determine the most important five skills that a forensic accountant needs to possess
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100 – Accounting I November 24, 2014 Dr. Anita McKie Careers in Accounting Someone with an education or degree in accounting can pursue different careers. Two of the most profitable career choices would be Certified Public Accountant (CPA) or Chief Financial Officer (CFO). A CPA has an array of duties, to include: filing taxes for individuals or corporations, as well as offering financial planning services. According to AICPA (2014), the financial planning services
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