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Discussion Questions
Go to the U.S. Securities and Exchange Commission's Web site at https://www.sec.gov and the Financial Accounting Standards Board'sWeb site athttps://www.fasb.org. Identify the mission and main activities of each organization. Then, analyze the similarities and differences between the roles of each entity. Which entity has more influence over financial statement reporting? Explain your answer.
Search the Internet or the Online Library for information about the Sarbanes-Oxley Act. A useful guide to some of these provisions is located athttps://www.soxlaw.com. Summarize at least two provisions of the law, and discuss your interpretation of these provisions with your classmates. Do you think this law will make financial statements more reliable? Also, discuss how Sarbanes-Oxley establishes boundaries to ensure ethical practices. What does the law allow or prohibit, and why?
In November and December 2007, Lane Co., a newly organized magazine publisher, received $90,000 for 1,000 three-year subscriptions at $30 per year, starting with the January 2008 issue. Lane included the entire $90,000 in its 2007 income tax retur..
Outline substantive procedures by using the Apollo Shoes Casebook for detecting irregularities in each of the following audit cycles:
the simply french restaurant has identified the following activities performed by its staffsettables
How is UPS performing? What factors are driving this performance? Is the current performance likely to be sustained? Why or why not?
Component depreciation is allowed under GAAP but is rarely used. Under IFRS it is required. Should component depreciation be required or allowed or prohibited? Defend your answer and remember, it is allowed under GAAP but rarely used.
the following informationis available for leno companysales 695000goods available 535000ending
ruberstein inc. was founded on april 1 and entered into the following transactions apr 1 issued common stock to
the franc zeppo venture manufactures a product that goes through two processing departments. information relating to
farber corp. a distributor of her-based sunscreen is ready to begin its 3-quarter in which peak sales occur. the
benaflek co. purchased some equipment 3 years ago. the companys required rate of return is 12 and the net present value
gerold invested 6200 in an account that pays 5 percent simple interest. how much money will he have at the end of ten
What is a constructive dividend? Under what circumstances is the IRS likely to argue that a constructive dividend has been paid?
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