Assignment 2: You Are an Entrepreneur! Due Week 6 and worth 280 points Student life does not generally afford a great deal of free time to pursue your personal interests; however‚ at one point‚ you may have considered turning a personal interest or hobby into an official enterprise. Today‚ you have finally decided to turn that hobby into a business but have realized that you need start- up capital from a lender or investor. To obtain funding‚ you need to convince a lender / investor that your
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President Bush signed the Sarbanes-Oxley Act. This act set new standards for publicly traded corporations‚ containing a total of eleven sections that protect shareholders and the public from fraudulent accounting practices. The SEC is responsible for overseeing‚ administering and enforcing this act by setting deadlines for compliance‚ setting requirements‚ standards for internal controls‚ audit‚ disclosure and ethical requirements. I believe one of the largest effects of the SOX Act is section 301 which
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illegal happenings in businesses‚ they are rightfully required by law. The Sarbanes-Oxley Act (SOX) of 2002 was passed after numerous corporate scandals. It required companies to be more much more thorough to implementing and checking their
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after a failure of the system. The Sarbanes-Oxley Act of 2002 is a primary example of legislation following financial market failure. Sarbanes-Oxley influenced public businesses through transformation of the financial system. The July 2002 enactment of the Sarbanes Oxley Act‚ co-authored by U.S. Sen. Paul Sarbanes of Maryland and U.S. Rep. Michael Oxley of Ohio‚ followed a series of large public company failures that included Enron‚ Tyco and WorldCom. Sarbanes-Oxley addressed investor confidence
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AIS Attacks and Failures: Who to Blame ACC564 2/17/13 Professor Ridilla AIS Attacks and Failures: Who to Blame Accounting information systems is a computer based database that stores‚ collects‚ and processes the financial data of the organization. The AIS system is then backed up by the organizations centralized database. When the AIS system is attacked by outside sources the responsibility falls to the organization if the proper controls are not in place but if the
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Organization Culture pg 6 5.0Organization Structure pg 8 6.0 Advantages /Disadvantages pg 9 7.0 Horizontal Integration pg 14 8.0 Management Approaches pg 14 9.0 Enron /WorldCom pg 16 10.0 Agency Theory pg 17-18 11.0 Remuneration Strategy pg 19 12.0 Sarbanes- Oxley Act pg 22-28 1.0 Executive Summary In the changing environment of the work place‚ workers are faced with numerous challenges to make the work place a safe and rewarding one while executives are being compensated with many rewards‚ bonuses
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1. What you have learned from those movies? Every big company believes that they can’t fail or in another word “They are too big to fail”. However‚ they did not know how to be enough; all they want just put more and more money in their pocket. Good example from the movies: First Enron‚ they are the big company for oil and gas. But the manager in the movie tried to make more money. They did not care about the situation or account in the company. So the problems become worse when the real account
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earnings of $111 billion. Many Fortune 500 companies went under fire in the early 2000’s for their misleading accounting methods‚ leading investors to believe the company was making billions; in which the government step-in‚ and created the Sarbanes-Oxley Act (SOX) of 2002. In early 2000’s‚ numerous Fortune 500 companies‚ Enron‚ WorldCom‚ Arthur Anderson and Adelphia and others‚ were alleged practicing complex accounting methods to cover their huge debt‚ while claiming they were making billions
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regulation. Deregulation relaxes laws so that the industry can self-regulate on the principle that it should be allowed to without government support or sanction. The devastation of Enron‚ WorldCom and the sub-prime market caused the passing of the Sarbanes-Oxley Act by Congress. LEGAL ISSUE The legal issue in this article shows legal business problems due to the deregulation of mistakes that have transpired. These legal business issues include bankruptcy‚ fraud‚ lawsuits and ethical issues. MANAGERIAL
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Unethical Practices and Behavior in Accounting The Sarbanes-Oxley Act of 2002 (SOX) was created to prevent fraudulent financial activities‚ and to provide investors with more accurate financial resources on corporations. Under SOX‚ companies are held accountable if they fail to maintain the requirements that were set forth in the act. The act requires companies to maintain satisfactory internal control measures‚ provide responsible financial reports‚ disclose periodic reports‚ and establish rules
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