Part 3 The bankruptcy of Enron not only significantly impact the employment and pension of workers‚ but also the relevant major financial institutions‚ including investment Banks‚ commercial Banks‚ pension funds and mutual funds. On Feb. 14th‚ 2002‚ the international accounting standards foundation chairman and former Federal Reserve chairman Paul pointed out that the obvious problems in accounting and auditing profession has formed a kind of crisis after a long-term period of existence. A typical
Premium Enron Enron scandal Arthur Andersen
ACCT301 Week 2 Homework 1. In two to three paragraphs‚ describe the Sarbanes-Oxley Act and why it is important to the accounting profession. (15 points) Sarbanes-Oxley Act was created in order to ensure that controls were implemented and monitored by the regulating authority. Congress wanted to make sure that there was a specific standard and guideline for companies to follow in order to prevent fraud at such a large scale. When followed correctly there are controls set in place that are internal
Premium Internal control Sarbanes–Oxley Act Auditing
On October 1‚ Keisha King organized Real Answers‚ a new consulting firm; on October 3‚ the owner contributed $84‚000 cash. On October 31‚ the company’s records show the following items and amounts. Cash $ 11‚360 Cash dividends $ 2‚000 Accounts receivable 14‚000 Consulting fees earned 14‚000 Office supplies 3‚250 Rent expense 3‚550 Land 46‚000 Salaries expense 7‚000 Office equipment 18‚000 Telephone expense 760 Accounts payable 8‚500
Premium Balance sheet Generally Accepted Accounting Principles Accounts receivable
–exam1-01/02/2012 Questions 1 thru 5 are True or False‚ 6 thru 11 are multiple choice 1) The marginal tax rate is useful in tax planning because it measures the tax effect of a proposed transaction. True. 2) If a taxpayer’s total tax liability is $30‚000‚ taxable income is $100‚000; the average tax rate is 30 percent. True. The average tax = total federal income tax divided by taxable income 3) S Corporations (pass thru entities) result in a single level of taxation. (Are not
Premium
Class Act Class Act has concluded that the full agreement consideration of $5 million should be recorded as revenue upon signing the agreement. I do not think this is appropriate method to recognize revenue. According to FASB‚ a company would apply the following five steps to achieve the core principle: (1) identify contract with the customer. (2) Identify separate performance obligations. (3) Determine transaction price. (4) Allocate transaction price. (5) Recognize revenue when performance obligation
Premium Contract Money Payment
Has 505 The major online computer services such as Health Grades‚ America Online Inc.‚ and WebMD provide health news and medical and health forums where users can access medical libraries‚ exchange messages‚ and discuss health problems. In what ways might the growing use of these services by consumers affect future strategies for: Family practitioners? HMOs? Technology refers to the innovations or inventions from applied science and research. According to the book‚ adult use of the Internet
Premium Health care Medicine Illness
Assignment MB0045 –Financial Management Q.1 Considering the following information‚ what is the price of the share as per Gordon’s Model? |Details of the Company Net sales |Rs.120 lakhs | |Net profit margin |12.5% | |Outstanding preference shares |Rs.50 lakhs@ 12% dividend | |No. of equity shares |25‚ 000 | |Cost of
Premium Inventory
Forebrain - highest part a) Diencephalon b) Telencephalon/Cerebrum or Cortex - largest part of human brain‚ highly wrinkled (thought & action) Thalamus - major sensory relay center‚ regulates CNS & PNS Hypothalamus - ventral to thalamus (homeostasis‚ emotion‚ thirst‚ hunger‚ circadian rhythm‚ control of autonomic nervous system) [controls pituitary gland] Main structures a. Limbic system - collection of structures w/in forebrain (emotional brain in memories‚ emotions‚ decisions‚ motivation
Free Brain Cerebrum Endocrine system
Grammar assignment 1 A 1) Does she really knows how to make an authentic Victoria sponge cake? Does she really know how to make an authentic Victoria sponge cake? √ Uregelmæssigt udsagnsord. 2) Through practice Galileo became good to observe the stars and was able to identify craters on the moon. Through practice Galileo became good to observe the stars and were able to identify craters on the moon. 3. person ental. 3) The long-term consequences of sleeping too little is still unclear
Premium Jane Austen Oscar Pistorius Amputation
Gel Filtration Gel filtration is a non-adsorptive chromatography technique that separates molecules on the basis of molecular size. Desalting and buffer exchange are two special examples of gel filtration that are widely used in many downstream bioprocesses. Desalting is used to completely remove or lower the concentration of salt or other low molecular weight components in the sample while buffer exchange replaces the sample buffer with a new buffer. Gel filtration is one of the easiest chromatography
Premium Molecule Chromatography Molecular biology