There were some WorldCom directors who made entries, but didn’t know what they were for and GAAP support (Mintz & Morris, "Case 2-1 Cynthia Cooper and WorldCom," 2011). An audit committee meeting took place, where the truth was reveled about the “prepaid capacity” and the misleading entries. It was mentioned that there were good business reasons but no accounting rationale for the entries (Cynthia Cooper and WorldCom). According to Mintz, “the due care standard calls for continued improvement in the level of competency and quality of services by performing professional services to the best of one’s abilities” (Mintz and Morris, Ch.1, 2011). Mintz, S. M., & Morris, R. E. (2011).
Business Research Applications George Reyes RES 320 September 24, 2012 ARMAND DI CIANNI Business Research Applications In today’s ever-changing economy both here at home or in the global market if a company does not do it proper research by ensuring the company knows about changes in market conditions, what do the customers prefer, and what other companies are implementing it can seriously affect a company’s success. Smart business decisions are made based on data and good information which is a direct result from research. By implementing stringent research plans a company can stay up-to date with its position in the market, and most importantly new and innovative strategies being put forth by competitors that are essential
Identify the main reasons for reviewing working methods, products and / or services in a business environment. • Ways of working – Ways to improve performance and obtain feedback and move the business forward • Products and services provided – These need to be reviewed as the market place is fast pacing and constantly changing. Its important to do the above so that business keeps up to date with the current market. 2. When a business is going through change: a) Describe the different types of support that people may need.
RESEARCH OF EMERGING ACCOUNTING ISSUES SASHA BRAYBOY ACC 563 PROFESSOR JAMES WRIGHT LOWER BUCKS COUNTY MARCH 2, 2014 STRAYER UNIVERSITY The Financial Accounting Standards Board although very effective in their own right in implementing laws, rules, and regulations to effectively guide the world of accounting, they still posed some concerns from others in the areas of timeliness and implementation on very time sensitive accounting practices. In 1984 the Financial Standards Accounting Board (FASB) established a task force called the “Emerging Issues Task Force”. This entity was formed “to assist FASB in identifying issues and problems that may require action and to expand the scope of the FASB Technical Bulletins to offer quicker guidance on a wider variety of issues”. (Richard G. Schroeder, 2011) The issues that caused the establishment were the lack of enough pronouncements to address accounting issues and practices like interest rate swaps and new financial instruments while accountants were also concerned about the amount of pronouncements that were created at a rate that caused a standards overload problem. The EITF had to come to obtain both timely responses to emerging issue while preventing the very possible standards overload through the use of excessive new pronouncements.
He also went on to mention that he was in need for an individual who is knowledgeable about his business. Gail Bennett’s presentation stood out and made Mr. Matthews realize that Putnam, Rhodes and Shafer accounting firm has a team of auditors who are highly efficient and specialized within his business industry. The audit team at Putnam, Rhodes and Shafer prepared a proposal to achieve the deal with Cable Co. the proposal was a professional document that included several accomplishments through their professional expertise. One of the more appealing parts of their proposal was the information that they included on their knowledge of mergers and acquisitions. This proposal was able to provide Cable Co. with the knowledge of how the accounting firm will bring value to their company.
Strategic Plan Paper: Riordan Manufacturing, Incorporated Team A Strategic Plan Paper: Riordan Manufacturing, Incorporated Global organizations have complex structures because operations span beyond their domestic markets and into the international marketplace. This global marketplace affects how organizations conduct business because of varying differences and needs in economic, technological, political-legal, and sociocultural forces. Organizations then must balance these external factors by strengthening their core competencies. Strategy planning is the means for organizations in realizing goals while considering the factors that affect their businesses. Riordan Manufacturing, Incorporated is a global organization planning for sales
Week1 Topic 1 To survive in a highly competitive environment, a business organization must adapt and change (evolve). Successful organizations seek continuous improvement in how they create and deliver products and services. This can include changing existing processes or inventing new processes. Such process changes are made utilizing a myriad of different methodologies including (but not limited to) CIMM, TQM, Six Sigma, Balanced Scorecard and
Strategic Plan: Part II Anonymous BUS/475 February 23, 2000 n.a. Strategic Plan: Phase II Several trends and forces, both external and internal factors can lead businesses on different pathways. Trends and forces are necessities that must be analyzed by organization and fostered as a tool to increase revenue. Organizations that respond and react to changes and modify their strategic plan when necessary will remain superior in the industry and competition. In order for a business to thrive in today’s shifting business environment, the administration of that particular organization must have the capability to respond to changes in the trends and forces in the business setting.
PCAOB, The Future of 404 Scott Carlson Mark Geiger Evallory Spratlin Kimberly Williams Liberty University Abstract Since the Sarbanes-Oxley Act of 2002 was implemented, small businesses have objected to what they describe as severe financial impacts, which are a byproduct of Rule 404 of the act. This paper will explore the allegations of small businesses, Congress’ response and what this dialogue means for the future of the Sarbanes-Oxley. The implications of this research are important because they have bearing on future regulation in the financial industry. The Sarbanes-Oxley Act of 2002 is a comprehensive bill that has proven to be a work in progress since its passage. The necessity of the bill can hardly be disputed
The impact of changing technology on both employers and employees is considered. Employment patterns and the expertise required of staff are changing. Flexibility in the face of new information technologies will be essential if organisations and individuals are to survive and flourish in the business world. The introduction or enhancement of technologies will always carry some risk and learners will consider the types of risk and how organisations can manage these. Finally, learners will consider how organisational business systems may be improved by the introduction of new technologies and