The Sarbanes-Oxley Act of 2002 (often shortened to SOX) is legislation enacted in response to the high-profile Enron and WorldCom financial scandals to protect shareholders and the general public from accounting errors and fraudulent practices in the enterprise. The act is administered by the Securities and Exchange Commission (SEC), which sets deadlines for compliance and publishes rules on requirements. Sarbanes-Oxley is not a set of business practices and does not specify how a business should
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The impact of ICT on accounting practice in Nigeria CHAPTER ONE Introduction 1.1 Background of the study In the recent past centuries, before the inception of Information and Communications Technology (ICT), the accountants of an organization were using a socially acceptable behavioural method of reporting accounting and economic reports, carried out during accounting year ends, the preparation of accounting records, book such as the profit and loss account, the balance sheet
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The impact of ICT on accounting practice in Nigeria CHAPTER ONE Introduction 1.1 Background of the study In the recent past centuries, before the inception of Information and Communications Technology (ICT), the accountants of an organization were using a socially acceptable behavioural method of reporting accounting and economic reports, carried out during accounting year ends, the preparation of accounting records, book such as the profit and loss account, the balance sheet
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CHAPTER 1 Financial Accounting and Accounting Standards ASSIGNMENT CLASSIFICATION TABLE | | | | |Topics |Questions |Cases | |1. |Subject matter of accounting. |1, 2 |4
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framework. * They are principally found in law and accounting. They may also be found in investment banking, insurance, real estate and architectural services. * Any profession that operates locally, but has clients in multiple locations, are potential members of a network. * They include the well-known accounting networks like PwC, KPMG, Deloitte, and Ernst & Young (also known as the Big 4 Audit Firms) as well as more than 30 other accounting networks and associations. * These firms use
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IMPORTANT AICPA INFORMATION ON SARBANES-OXLEY |How the Sarbanes-Oxley Act of 2002 Impacts the Accounting Profession (AICPA) | | | | | |
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Ethical risks and threats in the accounting profession Accounting ethics is primarily the study of moral values and judgments as they apply to accountancy. Accounting ethics were first introduced by Luca Pacioli in 1494 in his book “Summa de arithmetica, geometria, proportioni, et proportinalita”, and later expanded by government bodies, professional organizations and independent companies (Humphrey 2005). Throughout 2001 and 2002, the financial scandals in in the USA and some other countries
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Even though Richard McDermott and Kevin Stocks’ book, Eleventh Hour, could be excessively dramatic at times, I believe that they captured the essence of the challenges faced by hospital administration and accomplished their goals for a textbook-novel. In the preface, McDermott and Scott explain that textbook-novels are designed to help students transition from university to their professional roles, provide real-world context for topics explored, demonstrate how healthcare related issues such as
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segments, Ethics and Governance, Financial Reporting and Strategic Management Accounting. In the increasingly complex business environment in which organisations operate, characterised by change, uncertainty and escalating competition, the disciplines of strategy and leadership have become critical to successful organisational performance. The aim of this segment is to link the knowledge of management and financial accounting to the concepts of strategy and leadership. Accountants use a variety of technical
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to obtain the needed results and they found out that career opportunities really matter in choosing a course because the Accountancy students considered their future in doing this. Though they faced challenges in taking their course, they did their utmost to overcome these and obtain their wanted profession. In addition, they expected to have a good job in the future through this career. This paper further concluded that the students were motivated to study harder and to perform better despite of
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