Internal Control Requirements for Publicly Traded Companies In a meeting last week‚ the president of LJB expressed interest of going public in the near future and asked us about the internal control requirements for such action. To become publicly listed‚ LJB must follow the Sarbanes-Oxley Act of 2002 (SOX)‚ which requires all US publicly traded companies to maintain an adequate system of internal control. Under SOX Section 404‚ a company must report on internal controls over financial reporting
Premium Internal control Public company Receipt
CHAPTER 4 Balance Sheet ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics 1. Disclosure principles‚ uses of the balance sheet‚ financial flexibility. Classification of items in the balance sheet and other financial statements. Preparation of balance sheet; issues of format‚ terminology‚ and valuation. Subsequent events. Questions 1‚ 2‚ 3‚ 5‚ 6‚ 7‚ 10‚ 18‚ 21‚ 24‚ 25 11‚ 12‚ 13‚ 14‚ 15‚ 16‚ 18‚ 19 4‚ 7‚ 8‚ 9‚ 16‚ 17‚ 20‚ 23‚ 26 22 1 Brief Exercises Exercises Problems 2. 1‚ 2‚ 3‚ 4‚ 5‚ 6‚
Premium Balance sheet Generally Accepted Accounting Principles
ACCT WINTER 2014 FINAL EXAM Name: Rajvi Pandya Date:12/17/2014 MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) All of the following are factors in contributing to the increase in cybercrime except: 1) A) the ability to anonymously access the Internet. B) the Internet’s similarity to telephone networks. C) the ability
Premium Internet Web search engine
Accounting 504 Case Study 2 Keller Graduate School of Management Prepared by: Samara Ellison Prepared for: Professor Hicks 3 April 2013 To: LJB Company President From: Samara Ellison‚ Accounting Firm Subject: Evaluation of LJB Company’s Internal Control Structures Date: 3 April 2013 Hello LJB Company President: First‚ I would like to thank you for hiring my accounting firm to evaluate LJB’s internal controls system. This report will inform you of any new internal control requirements
Premium Internal control
PRACTICE – Ch1 through Ch6 Chapter 1 1. What is the objective of financial reporting? a. Provide information that is useful to management in making decisions. b. Provide information that clearly portray nonfinancial transactions. c. Provide information about the reporting entity that is useful to present and potential equity investors lenders‚ and other creditors. d. Provide information that excludes claims to the resources. 2. When making decisions‚ investors are interested in assessing
Premium Income statement Balance sheet Revenue
Aug 30‚ 2013 Accounting 200 Chapter 1 Vocabulary Business: An organization in which basic resources (inputs)‚ such as materials and labor‚ are assembled and processed to provide goods or services (outputs) to customers. Service Business: Provide services rather than product to customers Ex. Delta Air Lines (Transportation) Walt Disney Co. (Entertainment) Merchandising Business: Sell products they purchase from other businesses. Ex. Wal-Mart (General Merchandise)
Premium Balance sheet Generally Accepted Accounting Principles Income statement
1. (TCO C) Which of the following should not be reported in the income statement? (Points : 5) Goodwill amortization Trade name amortization expense Patent impairment losses All of the above Question 2. 2. (TCO C) Which of the following costs incurred with developing computer software for internal use should be capitalized? (Points : 5) Evaluation of alternatives Coding Training Maintenance Question 3. 3. (TCO C) Mini Corp.
Premium Stock Income statement Discounted cash flow
The following cost data for the year just ended pertain to Heartstrings‚ Inc.‚ a greeting card manufacturer: Service department costs * ……………………………………. $ 50‚000 Direct labor: wages ……………………………………………. 242‚500 Direct labor: fringe benefits …………………………………… 47‚500 Indirect labor: fringe benefits …………………………………. 15‚000 Fringe benefits for production supervisor ……………………. 4‚500 Total overtime premiums paid ……………………………….. 27‚500 Cost of idle time: production employees § …………………… 20‚000 Administrative
Premium Costs Employee benefit Wage
MARK 2028: MARKETING FINANCIAL SERVICES GROUP PROJECT Case (30%) –Winter 2014 Learning Objectives: 1. Synthesize and apply all program concepts learned to date. 2. Continue to refine interpersonal/team skills‚ presentation skills and critical thinking. INSTRUCTIONS: Written Marketing Plan (Worth 20% of final grade) Using the concepts discussed in this course‚ develop a high-level marketing plan for the case provided. Page 5 outlines the rubric to follow to prepare your written plan. A
Premium Management Marketing Strategic management
FINA 5210 Problem Set 1 (Group 305) Problem 1 (a) WpC=[E(rp)-rf] ÷Aσp2 =6%÷2.5×(20%)2 =60% WfC=100% - 60% = 40% (b) Expected return of Complete portfolio is: rCEc= WpC×E(rp)+ WfC×rf =60%×10% + 40%×4% =7.6% The standard deviation of Complete portfolio is: σc = WpC × σp = 60% × 20% = 12% Certainty-equivalent rate of return for investing in C: rc CE= Uc = rCEc- 1/2Aσc2 = 7.6% - 0.5×2.5×12%2 = 5.8% Certainty-equivalent rate of return for investing in P: rp CE= Up= rCEp- 1/2Aσp2
Premium Standard deviation Investment Normal distribution