week7 accounting

User Generated

qrnenp407

Business Finance

Description

Based on the requirements of the Sarbanes-Oxley Act and SEC reporting requirements for publically traded companies, Write a four to five (4-5) page paper in which you: 1.Assess the roles of the Board of Directors and Chief Executive Officer of a public company for establishing an ethical environment that generates quality accounting and reliable financial reporting for use by shareholders and investors. Provide support for your assessment. 2.Recommend a strategy for a CEO to implement, leading to an ethical environment that leads to high-quality accounting, reporting, and forecasting. Provide support for your recommendation. 3.Suggest how corporate management can provide assurances to investors that the performance forecast and expected earnings will be realized, minimizing the volatility of the stock price. Provide support for your suggestions. 4.Evaluate the consequences to a publically traded company when there is a lack of quality within financial accounting and reporting, indicating how these consequences may be minimized. Provide support for your answer. 5.Assess the requirements of the Sarbanes-Oxley Act related to accounting quality, indicating whether or not you believe the requirements are sufficient to protect stockholders and potential investors. Provide support for your position. 6.Use at least five (5) quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality as academic resources. Your assignment must follow these formatting requirements: •Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions. •Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

I have done your work. I snipped the question parts due to plagiarism. Thank you.

Running head: ACCOUNTING

1

ACCOUNTING
Student’s name:
Institution affiliation:
Date:

ACCOUNTING

2
ACCOUNTING

Introduction
Transparency and accountability have a critical role when it comes to the prosperity of any
organization. Accountability and proper keeping of financial records determine the financial health
of any business. Any organization which does not protect the rights of investors by ensuring that
there is proper transparency when it comes to the management of the financial records is bound to
fail. However, due to the prevalence of accounting malpractice in the early 2000s, the U.S.
Congress passed the Sarbanes-Oxley Act (SOX) in 2002 with an aim of protecting the investors
from

fraudulent

accounting

practices

by

the

organizations

(Holt,

2008).

The Board of Directors (BOD) plays an oversight role in ensuring that there is
accountability in the organization. The BOD makes decisions on the number of dividends that the
shareholders should be paid & the amount of funds to be reinvested into the business. Moreover,
the BOD members play a role in ensuring that the financial records or statements of the
organization are accurate, transparent and verifiable pertaining the operations of the business as
per the requirement of the Sarbanes-Oxley Act.
The BOD also reviews the agendas provided by the CEO, which help in realizing the
financial goals of the company. The BOD members scrutinize the investment decisions arrived by
the organization's executive team, & the expenditures needed to provide support to the efforts. The
Board also creates an ethical environment that supports accounting & financial reporting by vetting
the CEO that can best perform the role of ensuring tha...


Anonymous
I use Studypool every time I need help studying, and it never disappoints.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Similar Content

Related Tags