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Review the provisions of the Sarbanes-Oxley Act which was created in 2002 to address the accounting scandals in the late 90s early 00s (Enron, WorldCom, etc.). Identify the provisions that you feel made the biggest impact. What other provisions could have been included in the Act to strengthen the Responsible Stewardship and Integrity of the accounting profession? And conversely, what existing provisions in the Act do you believe (if any) are unnecessary or over-regulate the profession?
What are the implications of BP's strategy in terms of public perception and how may this impact upon their performance?
Jenny Carson invested $12,000 at 8% annual interest and left the money invested without withdrawing any of the interest for 15 years. At the end of the 15 years, Jenny decided to withdraw the accumulated amount of money.
Providing language and cultural training for employees is big business. If you were going to write a class on how language affects intercultural business communications, what would your lesson plan look like?
Garfield Company purchased, as an available-for-sale securities, $80,000 of the 9%, 5-year bonds of Chester Corporation for $74,086, which provides an 11% return.
Prepare any journal entries you consider necessary, including year-end entries (December 31), assuming these are available-for-sale securities.
Publicly traded firms are required to report to the investors using an accrual not a cash-basis approach. Do you think they should? What are the advantages? The drawbacks?
Since tax-exempt organizations do not benefit from the deductions that result from depreciation, what options do tax-exempt organizations have in acquiring the use of real estate?
Assuming sales volume is expected to be the same in the upcoming year as it was in the past year, give three separate options the company could implement in order to achieve their target profit in the upcoming year.
An accounting firm is trying to understand the capability of its process to review certain types of account audits. What is the percentage of audits that will take longer than 15 hours?
Quayle Corporation's inventory cost on its balance sheet was lower using first-in, first-out than it would have been using last-in, first-out. Assuming no beginning inventory, in what direction did the cost of purchases move during the period?
What are the two techniques used to convert trial balances from foreign currencies in U.S. dollars? Explain the situations when you would employ each metod.
Olgas proprietorship earned a net profit of $95,000 during the year and she withdrew $70,000 of this profit. Olga must report $70,000 net income from the proprietorship on her individual income tax return.
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