Types of Different Financial Statements

timer Asked: Oct 5th, 2015

Question description

school login - ID - Betty.Thompson38        password:  home2256

school:  htttps://campus.ctuonline.edu

APA format writing the individual paper must have 3 or more

part A is 400 - 600 words

part B - powerpoint 15 slides

make sure that citation match all the references in paper as before.

DEADLINE:  Sunday, October 11 or before

assignment below:


Weekly tasks or assignments (Individual or Group Projects) will be due by Monday and late submissions will be assigned a late penalty in accordance with the late penalty policy found in the syllabus. NOTE: All submission posting times are based on midnight Central Time.

Respond to the following scenario with your thoughts, ideas, and comments. Be substantive and clear, and use research to reinforce your ideas.

Part I

Because this is your first week as vice president (VP) of finance at Apix, several members of the top management team have stopped by your office. Timothy Russell, chair of the audit committee, comes in first to talk with you about the Sarbanes-Oxley Act of 2002 (SOX).

“Welcome to Apix,” he says. I hope you’re getting comfortable with us here. We have a lot on our plate, and we need your assistance with some important compliance issues.”

“Thanks, Tim,” you say. “Mary Francis mentioned Sarbanes-Oxley when I talked with her last week. Maybe we can start with that.”

“Right. As you know, our company is private and will eventually need to seek external funding. In fact, we have some potential investors that are interested. However, they want to know more information, especially about the compliance.

“I would like for you to provide us with a write up that we could share with the investors. Specifically, outline what the Sarbanes-Oxley Act is and what impact it has on financial reporting. As well, discuss what Section 302 requires of the chief executive officer (CEO) and chief financial officer (CFO).”

“Ok, I’m on it!”

Complete the following:

  • In 400–600 words, outline what the Sarbanes-Oxley Act is and what impact it has on financial reporting.
  • Discuss what Section 302 requires of the chief executive officer (CEO) and chief financial officer (CFO).
Part II:

Mary Francis comes into your office later that morning.

“Good news! I think we’ve got strong potential investors!” Mary announces.

“That’s great!” you reply.

“And now, they are asking for financial information” Mary states.

“Ok, I could provide a 50-page analysis for them!” you say.

“That’s exactly what they don’t want. I’m beginning to notice that some of the investors don’t have a strong finance background, and the last thing we want to do is scare them off with too many financial figures” Mary explains. I would like for you to complete a presentation. However, I want you to keep it simple and clear. Using all 3 Financial Statements, please provide an analysis on Apix’s assets, liabilities, cash, and profit. As well, choose 2 additional components on each of the sheets, and provide your initial impression on the company financial situation. Do you think you could handle this?”

“Of course! I’ll get started on this right away.”

Mary also indicates that she would like between 10–15 slides with 150–200 words in the notes page.

Please submit your assignment.

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