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Q. Show accounting deception situations?
In 2002 The Sarbanes-Oxley Act was approved. The Act was approved as one result of the large losses to the employees and investors from accounting deception situations involving companies such as Enron and WorldCom. The Act makes the Public Company Accounting Oversight Board. The Board have five members appointed and overseen by the Securities and Exchange Commission. The Board investigates and oversees the audits and auditors of public companies and can sanction both firms and individuals for violations of regulations, laws, and rules. The Chief Financial Officer and Chief Executive Officer of a public company must now certify the company's financial statements. Corporate audit committees before the corporate management are now responsible for compensating, hiring, and overseeing the external auditors.
Closing entries perhaps prepared directly from the work sheet. The first journal entry debits all items appearing in the Income Statement credit column as well as credits Income Su
Accounting for payroll Employer Taxes and Reports Everyone who works should have a social security number. All employers in this country who have at least one employee should h
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journalizing payroll transactions, for Keller Systems;Inc, paid cash for april's payroll tax liability. withheld taxes from april payrolls; employee income tax,$532.00; social se
After the accounts are adjusted and closed at the end of the fiscal year, Accounts Receivable has a balance of $673,400, and Allowance for Doubtful Accounts has a balance of $11,90
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