Module Readings and Assignment:
Complete the following readings early in the module:
- Module overview
- From your Argosy University online library resources, read the following article:
- Sarbanes–Oxley Act of 2002 (Pub.L. 107-204, 116 Stat. 745) http://www.iasplus.com/en/binary/resource/usreform.pdf/at_download/file/usreform.pdf
All business students need to understand the financial statements of a publicly traded company. Usually, a company produces three types of reports:
Balance sheet: A balance sheet shows the assets, liabilities, and equity of the company.
Income statement: An income statement shows the revenue and expenses of the company.
Statement of cash flows: A statement of cash flows shows where the company generates cash and how the cash is used.
All companies that sell their stock to the public on one of the stock exchanges must publish these statements and get them attested or audited by an independent accounting firm.
This module introduces ethics in finance and accounting. You will identify key legal and ethical issues in both areas and begin to apply legal and ethical principles to a business scenario. You will also explore the Sarbanes-Oxley Act of 2002 and apply the reform principles of this legislation to an existing business example.
Assignment: Discussion—Sarbanes-Oxley Act
Respond to the following question:
- How do unethical accounting practices affect internal and external stakeholders? Cite at least one regulation to present the legal perspective.
The Sarbanes-Oxley Act contains ten titles or sections.
- Summarize the major reform principles of any three titles.
- Select one major corporation failure from the past ten years, and analyze how it could have been avoided if the principles of Sarbanes-Oxley would have been followed.
- By Friday August 17, 2018, in a minimum of 400 words, post a summary of your findings from the The Sarbanes-Oxley Act to this Discussion Area.
Write your initial response from the following question: How do unethical accounting practices affect internal and external stakeholders? Cite at least one regulation to present the legal perspective.
in 300–500 words.
turned-in on time, Grading criteria followed All assignment qualifications addressed correctly, Grading Criteria followed, Include Question followed by the answer Reference Page Included Cover page Included, Paragraphs Indented, Running-head included, main heading should be centered; all new paragraphs should be indented; paper should be right ragged, not right justified; references, should always go on a standalone page. abstracts are not usually indented; acronyms should be spelled out when using them for the first time, for example HR. references as listed are APA standard. When you submit your papers through turnitin.com, your overall similarity index score should not be exceedingly high, with ten to fifteen percent being the maximum, Please make sure your APA formatting of citations. I have provided the APA resource cite for you. https://owl.english.purdue.edu/owl/resource/560/01, Please work on using literature within the span of the last 5 years, keep in mind there should not be any one, two, or three sentence paragraphs
Your response should be thorough and address all components of the discussion question in detail, include citations of all sources, where needed, according to the APA Style, and demonstrate accurate spelling, grammar, and punctuation
Do the following when responding:
- Read your answers.
- Provide substantive comments by
- contributing new, relevant information from course readings, Web sites, or other sources;
- building on the remarks or questions; or
- sharing practical examples of key concepts from your professional or personal experiences
- Respond to feedback on your posting and provide feedback to ideas.
- Make sure your writing
- is clear, concise, and organized;
- demonstrates ethical scholarship in accurate representation and attribution of sources; and
- displays accurate spelling, grammar, and punctuation.
Quality of initial posting, including fulfillment of assignment instructions
Reference to supporting readings and other materials