Case Study 2 – Internal Control The following are the internal control requirements a company who wants to go public needs to be put into place. INTERNAL CONTROL REQUIREMENTS Management’s Assessment Section 404(a) of the Act and the related rules adopted by the SEC require management to assess the effectiveness of the company’s internal control over financial reporting as of the end of the company’s most recent fiscal year‚ and to state in the company’s annual report whether the company’s internal
Premium Generally Accepted Accounting Principles Fiscal year Balance sheet
Ethics your name HCS/405 /2012 Ethics There are four significant elements of financial management‚ “There are four basic financial statements. You can think of them as a set. They include the balance sheet‚ the statement of revenue and expense‚ the statement of fund balance or net worth‚ and the statement of cash flows.” (Baker & Baker‚ Chapter 4‚ 2011). Financial manager need to have a balance sheet to review or perform an audit so they can see the debt to income ratio for the
Premium Finance Generally Accepted Accounting Principles Financial statements
Case Study Two Name Accounting and Finance 02Feb2011 Dear President of LJB Company‚ (1) If the LJB Company should decide to become a publicly traded company‚ a few internal controls should be implemented to comply with the Sarbanes-Oxley Act (SOX). * Management will need to provide periodic quarterly reports to evaluate the effectiveness and reliability of LJB’s internal controls over financial reporting procedures. * Management should certify the accuracy and fairness of presentation
Premium Internal control Sarbanes–Oxley Act Cash
1. Explain how the Voice of the Employee supports improved internal processes (Voice of the Business)‚ and how the Voice of the Business supports customer satisfaction (Voice of the Customer). Voice of the Employee centers on creating and maintaining a workplace that is safe and secure in due to issues of violence and employee relations. Given the opportunity‚ employees have the chance to give their opinion and suggestions to improve the current work environment without the fear of retaliation and
Premium Balanced scorecard Strategic management Management
Arnold C. Collins‚ Jr Columbia Southern University Unit II Case Study Question 1 I don’t believe that the State of the USA designed to replace GDP as the primary measure of economic performance. I simply believe that the United States would like to see more indicators as to how our economy is doing and what we can do to help boost the economy. While taking in other information on what’s going on with the country. First standing us as a nonprofit agency I 2007 and would later gather more notice in
Premium United States Economics Unemployment
LBJ Company: Internal Control Evaluation Accounting 504: Managerial Use & Analysis Case Study 2 Written by: 8/10/13 This evaluation is being presented as an assessment of the preparedness of the LJB Company to go public at a future date. By researching current regulations regarding publicly traded firms we hope to prepare for a smooth transition into the trading market. The Sarbanes-Oxley Act of 2002 (SOX) has established the following guidelines
Premium Internal control Sarbanes–Oxley Act Security
Type 2 diabetes. Her A1C is better. I have encouraged her to really try to eat those regular meals‚ monitor her glucose values and we did discuss the possibility of decreasing or stopping the metformin at this time. She does understand that with the prednisone
Premium Patient Nursing Health care
Apollo 13." NASA - Home. N.p.‚ n.d. Web. 2 Dec. 2011. <http://www.nasa.gov/mission_pages/apollo/missions/apollo13.html> Apollo 13 Review Board Encyclopedia Astronautica. "1970.06.13 - Apollo 13 Review Board publishes result of investigation.."Encyclopedia Astronautica. N.p.‚ n.d. Web. 2 Dec. 2011. <http://www.astronautix.com/details/apo27567.htm> Greene‚ Nick Harris‚ Charles E.‚ and Michael S. Pritchard. Engineering ethics: concepts and cases. 4th ed. Belmont‚ CA: Wadsworth Cengage Learning
Premium Apollo program Apollo 11 Apollo 13
Case Study 2 Springfield Express Instructions: Springfield Express is a luxury passenger carrier in Texas. All seats are first class‚ and the following data are available: Number of seats per passenger train car | 90 | Average load factor (percentage of seats filled) | 70% | Average full passenger fare | $160 | Average variable cost per passenger | $70 | Fixed operating cost per month | $3‚150‚000 | a. What is the break-even point in passengers and revenues per month? Break-even
Premium Management Marketing Strategic management
To: President of LJB Company‚ Thank you for selecting our firm to provide your company with an evaluation of your organizations internal control system. Internal control systems are vital in securing your organizations assets‚ it will limit the risk of fraud as well as misuse of your assets. Comprehending how to separate duties among your employees will aid in improving transparency as well as keep your company financially strong. Before the company decides to go public it is important to know
Premium Internal control