The nature of thought is intriguing, in that our thoughts make up who we are as a person. Today’s society throws around the word integrity loosely these days. This paper will explain identifying situations that might lead to unethical practices and behavior in accounting. I will also share what I learned about the effect of the Sarbanes-Oxley Act of 2002 on financial statements. Examples of unethical behaviors involved injured parties, how the unethical behavior affected the organization, individual
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The power of section 404 of the Sarbanes -Oxley Act on earning quality Law/431 July 23, 2012 The power of section 404 of the Sarbanes -Oxley Act on earning quality In this article, the authors study the effect of Section 404 of the Sarbanes-Oxley Act on two primary characteristics of earnings quality, reliability and relevance in combination. Using a difference-in-differences method, they find that firms that were required to comply with Section 404 during the first 2 years of its
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Cost Justified I. Stakeholders A. Mary 1. Protecting her image 2. Economic well being by loss of position B. Joe 1. Interested in keeping his job 2. Reputation 3. Dilemma of following Mary’s request or go to upper management C. CEO (John) 1. Interest on the company and the performance of company 2. Interested in having a reliable computer system 3. Reputation D. Employees 1. Economic job loss 2. Fear of being blamed for system performance 3. Interest in company performance E. Shareholders
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NORTHCENTRAL UNIVERSITY ASSIGNMENT COVER SHEET Learner: Patrick W. Bass THIS FORM MUST BE COMPLETELY FILLED IN Please Follow These Procedures: If requested by your mentor, use an assignment cover sheet as the first page of the word processor file. The assignment header should include the Learner’s last name, first initial, course code, dash, and assignment number (DoeJXXX0000-1) justified to the left and the page number justified to the right. Keep a Photocopy or Electronic
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Executive Memo to the Board To: Board of Directors From: UoPx CPA Auditors Subject: GAAP Requirements and Accounting Treatment for Share-Based Payment Reporting and Consolidation of Special Purpose Entity Week 6 Points to consider Memo on SPE and Share-based payments Evaluate Share-based payment reporting JJH->Share-based employee compensation awards are classified as either equity instruments or liability instruments. The measurement date for estimating the fair value
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Business Ethics: Enron Case Study Introduction: Enron was a very powerful company that was doing very well in the market. The value of its share was high and the company was enjoying an overall healthy position as a business. The employees were happy and new recruits would have killed to get a job at Enron. However, this was not to last. Enron enjoyed so much success that it got to its head and it started making all sorts of problems. Enron decided to change its organizational structure
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Internet Controls Vanessa King July 29, 2012 Internal controls are used within an organization to help safeguard assets and enhance the reliability and accuracy of accounting records. I think internal controls are essential for any public company to function. Safeguarding assets includes stopping robbery, employee theft, and unauthorized use and is very important for an organization. Minimizing the risk of unintentional mistakes, or errors as well as intentional mistakes
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business. Many transformations in the business environment have taken place, including immoral conducts and the tendency for corruption. Unethical accounting behavior is also included as a consequence. The unpredictable increase and collapse of the Enron Company set off a long-burning fire under the American social conscience. From every crevasse and corner, voices rose demanding increased accountability, demanding tighter regulation, and demanding that the unethical be brought to justice. Accounting
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CAPSTONE CASE STUDY ON ORGANIZATIONAL ARCHITECTURE: ARTHUR ANDERSEN LLP 1. Discuss the environmental, strategic and organizational changes that occurred over the life of Andersen in the context of Figure 11.1. Architectural design of firm may vary among companies. There are most common categories are business environment, strategy, and organizational architecture. Business environment of Andersen includes technology that was used effectively; structure of its markets, regulations which helped
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else with your investment. But there is an answer to help protect companies and shareholder, and it comes in the form of a regulatory organization that was put in place in 2002. That was put in place as a direct response to the corporate scandals of Enron and other scandals that followed, and was also put in place to help restore confidence in the financial market. SOX-Applies only to US companies on the US exchange, and is an Act put in place in 2002 to mandate all publicly traded corporations
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