Explain the most important sections are often considered

Assignment Help Accounting Basics
Reference no: EM131796240

Problem

When the Sarbanes-Oxley Act was enacted on July 30, 2002, it profoundly changed the regulatory environment for publicly traded companies in the United States. The law was passed in reaction to the accounting scandal at Enron Corp. which forced the firm to file bankruptcy in December 2001 and which led to the obstruction of justice conviction and subsequent demise of accounting firm Arthur Andersen. Known as SOX, the act consists of 11 sections covering topics such as corporate governance, financial reporting, civil and criminal liability, and regulatory structure (Moran, 2013).

The Sarbanes-Oxley Act is arranged into eleven titles. As far as compliance is concerned, the most important sections within these are often considered to be 302, 401, 404, 409, 802 and 906.

Choose one of the 11 titles in the Sarbanes-Oxley Act of 2002 and describe it. Do you believe this section is an effective deterrent to an accounting scandal? Why or why not?

Reference no: EM131796240

Questions Cloud

Identify current accounting issues post-sox : Explain the role of the Sarbanes-Oxley Act in today's accounting environment, and identify current accounting issues Post-SOX.
Number of non-overlapping success : Let Rn be the total number of non-overlapping success runs in n trials, counting runs of any length between 1 and n. Find E(Rn) by using the result of b).
Discuss overall tax burden to himself and barton products : Should Mike increase his salary by $50,000.00 to reduce the overall tax burden to himself and Barton Products
Number of-days in month picked at random : Let X be the number of-days in month picked at random from the 12 months of a year (not a leap year).
Explain the most important sections are often considered : As far as compliance is concerned, the most important sections within these are often considered to be 302, 401, 404, 409, 802 and 906.
What is the operating cash flow for the project : You are evaluating a project for The Tiff-any golf club, guaranteed to correct that nasty slice.
Prepare the document flowchart to depict order processing : Prepare the document flowchart to depict the order processing in XYZ Company
Find a formula for var : Suppose X1 and X2 are independent. Find a Formula for Var(X1X2) in terms of µ1 = E(X1) s21 = Var(X1), µ2 = E(X2), and s22 = Vaar (X2).
Find the total amount of depletion that maley should record : During 2012, 450,000 tons were removed and 300,000 tons were sold. The total amount of depletion that Maley should record for 2012 is

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd