The Sarbanes-Oxley Act has increased the s increased the reliability and dependability of financial statements. As a result of this, companies’ internal controls improved greatly. Under the Sarbanes-Oxley Act, the revised auditing requirements for internal controls mandates that an organizations internal controls procedures must be tested by auditors and that the test findings should be reported in the organization’s annual audit report. An assessment of whether the internal controls supply both a system of maintaining records that concretely and fairly project the company’s transactions, and acceptable assertion that transactions are recorded in conformity with the arrangement of GAAP financial statements are to be included in this
‘The advantages of enlarging the EU after the end of the cold war were significant for its member states.’ How valid is this assessment? The enlargement of the EU was positive for both member states, the worlds trading and applicant states. The EU would work to bring prosperity, peace and a unity between countries which had been involved in conflict after World War two and the cold war. Even though there were negative aspects of enlarging the EU such as divisions over NATO, the expansion bought many positive aspects. In order for the EU to achieve bringing Europe together after World War 2 they would need to expand.
Managers choose accounting procedures that produce the most accurate picture of the company’s operating performance and financial condition. a. This is true because managers will sign an executive compensation contract which will contain an annual bonus and a longer term pay components that will tie to their financial statement results. Using accounting data in this manner increases the efficiency of executive compensation contracts. 3.
Comparative Ratio Analysis of Tootsie Roll Industries and Hershey Comapny A company’s general financial picture can be determined through a ratio analysis. Financial ratios have proved to be a useful tool for management, investors and creditors. Management uses financial ratios to develop ways to improve operating efficiency strategies for future growth and see how they stack up against the competition in their industry. Creditors and investors analyze ratios to determine a company’s financial strength and operating effectiveness in order to loan money or invest in them. Financial ratios have more impact when compared over several years to help identify trends.
Due to this improvement it helps to protect investor confidence in the companies and the US legislature as well. Moreover, it also helps in establishing a public company accounting oversight board, auditor independence, and corporate responsibility and enhanced
In conclusion, the Sarbanes-Oxley Act is an integral part of internal control. Because of Section 404, the CEO’s and chief financial officer are now held accountable for the accurate filings of its financial statements, or face stiff penalties. In 2007, SEC Chairman Christopher Cox stated, “Sarbanes-Oxley helped restore trust in U.S. markets by increasing accountability, speeding up reporting, and making audits more independent.” (Sarbanes-Oxley Act, 2010, section 6, para. 2). Because of SOX, investor’s confidence has improved and financial statements are now more accurate and
The second reason for restructuring was to manage redundancy at the management echelon. The third reason was to make their brand more common in the market and across the globe. The forth reason was to establish the monetary infrastructure to place financial decision making in the correct places. One more reason was for information and communication technology to take control of many of the company’s platforms. This would enable human resources to have the capacity to take talents around the world.
This will boost sales and spread the word of a new contender in the collections world. I will be discussing my capital structure that best fits my corporation, my employees and payroll accounts, and my tangible plant assets. I will also be giving insight on the ethics and
Effect of Systems on Business By Phil Newmark CIS/207 Mar 02, 2015 Bob Juszynski Effect of Systems on Business With the growth of the consumer market place and the demand for faster delivery of products and services it is the roll of Information Systems to streamline everyday transactions both for the consumer and for the organizations they do business with. Properly identifying those IS systems and learning how they can be used to improve productivity can be best analyzed by looking at current technology, determining the improvements they have made and looking ahead to what the future holds for companies using these systems. By understanding our past technologies we can improve them to better serve the goals of an organization and the people who interact with it. Office Automation Systems Creating documents, communication and other tasks you would see done in an office environment everyday have been simplified and incorporated into systems we now use every day. Word processing and spreadsheets replace typewriters and accounting ledgers and information storage allows workers and managers instant access to critical information about sales, client or employees.
• Increase B2C advertising, focussed on innovative solutions they may offer, like real-time traffic updates and information. • Distribution points worldwide will increase levels of aftercare and service, increasing sales through improved customer satisfaction as well. • Capitalise on green markets and the advantages satellite navigation can hold in these markets, especially the management of fleets. Fleets fitted with TomTom hardware may recover lost PND unit sales of the past. • Increased number of partnerships with companies like Renault, Toyota and AVIS will increase exposure to consumers and increase unit sales as well.