...Capstone Response Nikki Pinkerton XACC/290 November 29, 2015 Dan Adams Capstone Response After reviewing Sarbanes-OXELY Act (SOX) which was established in 2002 we are able to see how this process affects the practice of accounting. SOX is designed to work with the internal controls that we have learned about this past week. Its main purpose is to ensure that auditors have no connection with the company they are auditing. No connection of any kind. Enron was one of the many companies committing fraud when the company was defunct and went bankrupt, this is why the SOX act was created. The requirements for under the SOX include statement of management’s responsibilities, allowing sufficient internal controls. This assessment is completed by management usually toward the end of the fiscal year. They will also the effectiveness of internal controls and procedures inside and outside. Sox ensures that all organizations are being checked and audited sparingly in order to aid in the consistency and accuracy of the information. Since this act was put in place in the year 2002 it has implanted stricter guidelines for organizations and is making the cover up of fraud much more difficult. Using external audits as the result of the SOX accounting scandals has come to an end. This process has ensured that all auditors have absolutely zero connection to the company that is being audited. I am sure they have to under go a very extensive back ground inspection...
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...Clive Williams Capstone Question XACC/291 September, 11th 2014 Shontell Chrisman There are many different elements that involved with operating a successful business. The world of “moving money” or financing is derived of a host of complex mathematics, but with one simple goal in mind, “Profits.” One of the most dangerous, but commonly known viruses to the banking world is the fraud. In chapter 7 of “Financial Accounting” describes fraud as a dishonest act by an employee that results in personal benefit to the employee at a cost to the employer. Fraud is not only up to the employees it is also an act committed by consumers as well. In the past as well as recent years, fraud is largely affected when it is committed by an employee. When an employee commits such a heinous crime it affects the company as a whole. The company is offering the employee great competitive pay, some of the best benefits packages, and most financial institutions have so many consumers personal information at the tip of their finger tips. I mean, who wants to give their money to a company that can not only taker their money, but steal their entire identity. Trust is a major issue when dealing in the financial transactions industry whether it be that the retail or corporate levels. The government had to step in and put a stop to businesses that are careless and reckless about handling funds. It seems to be a tough job on all parties at hand, but the...
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...|[pic] |Course Syllabus | | |School of Business | | |XACC/291 Version 1 | | |Principles of Accounting II | Copyright © 2011 by University of Phoenix. All rights reserved. Course Description This course introduces accounting concepts in a business environment. Students learn to create and apply accounting documents in making better business decisions. Other topics include plant assets, liabilities, accounting for corporations, investments, statements of cash flows, financial statement analysis, time value of money, payroll accounting, and other significant liabilities. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: University policies: You must be logged into the student website to view this document. Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning...
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...|[pic] |Course Syllabus | | |XACC/291 | | |Principles of Accounting II | | |1/13/2014-3/16/2014 | Copyright © 2011 by University of Phoenix. All rights reserved. Course Description This course introduces accounting concepts in a business environment. Students learn to create and apply accounting documents in making better business decisions. Other topics include plant assets, liabilities, accounting for corporations, investments, statements of cash flows, financial statement analysis, time value of money, payroll accounting, and other significant liabilities. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: University policies: You must be logged into the student website to view this document. Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning...
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...Course Syllabus School of Business XACC/290 Version 1 Principles of Accounting I Copyright © 2013 by University of Phoenix. All rights reserved. Course Description This course covers the fundamentals of financial accounting as well as the identification, measurement, and reporting of the financial effects of economic events on an enterprise. Students will learn to examine financial information from the perspective of management. Other topics include decision-making, planning, and controlling from the perspective of a practicing manager. Policies Faculty and students will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Kimmel, P. D., Weygandt, J. J., & Kieso, D. E. (2011). Financial accounting: Tools for business decision making (6th ed.). Hoboken, NJ: John Wiley & Sons. All electronic materials are available on the student website. Week One: Basic Accounting Principles and Concepts Details Due Points Objectives...
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...|[pic] |Syllabus | | |Axia College/School of Business | | |XACC/280 Version 2 | | |Financial Accounting Concepts and Principles | Copyright © 2010, 2009 by University of Phoenix. All rights reserved. Course Description This course covers the fundamentals of financial accounting as well as the identification, measurement, and reporting of the financial effects of economic events on the enterprise. Financial information is examined from the perspective of effective management decision making with special emphasis on the planning and controlling responsibilities of practicing managers. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning...
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...Coke or Pepsi, what would you choose? xxxxxx XACC/280 xxxxxx teacher name Everyone in the civilized world recognizes two companies as kings of the soda pop, Pepsi-Cola and Coca-Cola. These two companies have battled for over one hundred years to be top dog in the beverage business. In 2005, Coca-Cola (Coke) led the race by just over 7% in net income over Pepsi-Co (Pepsi). This essay will compare these two beverage giants side by side and analyze the financial statements of both as well as making suggestions about ways the each company may be able to improve their earnings. Pepsi-Cola was born in North Carolina, in 1898, as the invention of a pharmacist named Caleb Bradham. He put together various combinations of juices, syrups, and spices to try to come up with a new drink to serve to his customers at the soda fountain in his pharmacy. His drink, originally called “Brad’s drink” was soon renamed Pepsi-Cola (using a combination of the names of two of the ingredients Pepsin and Kola nuts). The drink was incredibly successful and soon took off beyond Bradham’s wildest expectations. In 1902, the Pepsi-Cola company was officially formed and the brand was patented. The beverage quickly moved from a soda fountain product to a bottled beverage (PepsiCo, Inc, 2010). The second half of this duo is Coca-Cola. Coca-Cola was invented in 1886, twelve years before Pepsi. It was created by Doctor John Pemberton, also a pharmacist...
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