The Sarbanes-Oxley act was created in 2002, requiring companies to have more sufficient internal control over their financial statements. The old “I wasn’t aware of that” from executives is no longer acceptable and in fact can result in jail time for the executives and others involved. The company can also lose their exchange listing, lose of D&O insurance or face large 7+ figure fines. The act was a direct response to corporate scandals, such as WorldCom, Enron and Tyco who covered up or
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Budgeting as a Key Component in Short and Long- Term Planning Management Budgeting is a process of planning, setting goals and defining the objectives of themanagement that are needed for a given period of time. It is the tool that provides specific direction and achievements for the company. It also controls the business setting, as well as it helps the management to study the financial aspects of the business and challenges of each department, and learn how to solve these problems. Budgeting
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Week 2 CheckPoint The four external factors are economic, sociological, political and professional, and technological. The economic factor centers on the funding and financial part, which is very important in an organization. Sociological factor emphasizes on the affected group, and their needs. The political and professional factor fixates on the laws and regulations from the state, federal, etc. They also focus on other organizations in the community. The technological factor concentrates
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1. Are the four components of Marriot’s financial strategy consistent with its growth objective? Explain. • Manage Rather than own hotel assets – Marriott sold it’s assets to partners, which should increase profitability by way of return on assets. Although there is a risk of contract expiration, but investing in higher risk projects should result in high returns. • Invest in projects that increase shareholder Value – The discounted cash flows method allows for Marriott to invest in
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The Sarbanes-Oxley Act was passed by Congress in 2002 in an effort to prevent and punish corporate corruption and to repair investor confidence. The act imposes on all publicly traded corporate organizations the requirement of mandatory accounting oversight, detailed disclosure requirements and criminal liability for noncompliance or violations of the act. Sarbanes-Oxley is named for Sen. Paul Sarbanes and Rep. Michael Oxley, the act's primary authors. The law was overwhelmingly passed by both houses
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Running head: UBS Financial Services Inc. AN ANALYSIS OF INTERNAL AND EXTERNAL PRACTICES UBS FINANCIAL SERVICES INC.: SWOT ANALYSIS Fall 2012 November 20, 2012 Berkeley College Larry L. Luing School of Business Personal Introduction With a month before graduation, a strange feeling of both accomplishment but yet uncertainty overcomes me. I have nested comfortably in a routine that is college and has been my life for the past four years. Change is imminent
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The first reason for the deficient attention to security exhibited by the management of iPremier is the focus on short term gains which is deeply imbedded in the company's culture. Many times in this case concern was expressed about what the stock price would be the following morning. There is too much attention on the stock price, which in turn plays back into the short-term focus. Companies that focus on a short-term "earnings game" often lose focus of their long term strategy, and thus causes
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Title: A Hedge Fund manager’s New Groove Date: November 2, 2010 Section: Money and Investing methodology According to the Wall Street’s journal article, a former manager of hedge funds has made a lot of money by switching to the high long term decision from his shorting stock. William Von Mueffling made a surprising announcement by saying that he would close his hedge funds and return about $3.5 billion to investors. Williams Muefflling’s firm contillion capital management of New York only
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“A financial statement is the primary means of communicating the financial information of an organization to its external users” (Edmunds, 2010). They show recordings of obligations and are used for making decisions. The purpose of the analysis is to determine the meaning and significance of the data contained. As stated in the text, there are three different methods that is used for examining financial statements. They are horizontal analysis, vertical analysis, and ratio analysis. Horizontal analysis
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Financial accounting is one of the required courses for CPA exam. Some of you may be getting ready to take the exam or considering it as your future goals. Let's use this forum to research the educational requirements, fees, areas of examination and licensing requirements for CPA exam. A CPA is a certified public account and is licensed by the state. In California, to earn the prestige associated with the CPA license, individuals are required to demonstrate their knowledge and competence by
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