The Sarbanes Oxley ( Sox ) Essay - 2099 Words

In 2002, the U.S. Congress passed an act called the Sarbanes-Oxley (SOX) Act in order to protect people from possibly engaging in fraudulent accounting activities committed by public corporations. It is a reform that requires corporations to produce better financial documents in order to stop any future accounting fraud and contains provisions for companies to follow to prevent any corrupt behavior. SOX was created in response to major accounting scandals committed by corporations such as Enron. Enron Corporation was an American energy trading company who committed the largest audit fraud alongside Arthur Andersen and filed for one of the largest bankruptcies in history in 2001 after producing false numbers and committing fraud for years (â€Å"Enron’s Questionable Transactions† page 93). Enron failed to run an ethical business in multiple aspects. The executives of the company abused their powers by having board members not properly oversee its employees. Enron committed accounting malpractice by producing false financial reports to hide the debt from failed projects and deals. Using a mark-to-market accounting method, Enron would create assets and claim the projected profit for the books immediately even if the company had not made any profit yet. In order to hide its failures, rather than reporting their loss, they would transfer the loss to an off-the-books account, ultimately leading the loss to go unreported. Along with Enron hiding losses and creating f alse profit for theShow MoreRelatedThe Sarbanes Oxley Act ( Sox )1728 Words   |  7 Pagesaccounting scandals that led to the passing of Sarbanes-Oxley Act, which introduced the most comprehensive set of new business regulations since the 1930’s. The Sarbanes-Oxley Act (SOX) is an act that was passed by United States Congress in 2002. This act safeguarded investors from the likelihood of fraudulent accounting practices of publicly traded organizations by authorizing strict reforms to advance financial disclosures and prevent accounting frauds. With SOX being an extremely important piece ofRead MoreThe Sarbanes Oxley Act ( Sox )1604 Words   |  7 PagesThus, to respond to the public pressure over acts of corporate offense, the Sarbanes-Oxley Act (SOX) was enacted in 2002. SOX proposed major changes to the regulation of corporate governance and financial reporting by improving the accuracy and reliability of company disclosure. This essay will explain the effects of SOX on the financial statement fraud in an organization. Situation Prior to the legislation of Sarbanes-Oxley Act, the regulations of financial statement were much more lax than currentRead MoreThe Sarbanes Oxley Act ( Sox )943 Words   |  4 PagesThe Sarbanes-Oxley Act (SOX) was passed by Congress in 2002, and is administered by the SEC. The SEC checks for compliance and creates rules and requirements. The Act was created to restore investor confidence in financial statements after major accounting frauds, such as Enron, Tyco, and WorldCom. In addition, SOX aimed to prevent future accounting fraud through improving the accuracy of disclosures and through increasing corporate governance, accountability, and reliability. Major Provisions TheRead MoreThe Sarbanes Oxley ( Sox ) Act1995 Words   |  8 PagesThe Sarbanes-Oxley (SOX) Act was passed by Congress in 2002 to address issues in auditing, corporate governance and capital markets that Congress believed existed. These deficiencies let to several cases of accounting irregularities and securities fraud. According to the Student Guide to the Sarbanes-Oxley Act many changes were made to securities law. A new federal agency was created, the entire accounting industry was restructured, Wall Street practices were reformed, corporate governance proceduresRead MoreThe Sarbanes Oxley Act ( Sox )1202 Words   |  5 PagesBrief historical summary on SOX enactment The Sarbanes Oxley Act (SOX) was sanctioned in July 2002 with the objective of reestablishing public trust in the markets. SOX was promised as one of the opportunities for cultivating organizational ethics by clearly outlining the code of ethics. This included the raise of truthful and strong ethical behavior. SOX moreover, demands that corporate organizations to release codes applicable to the senior financial officer. Indorsing whistle blowing in theRead MoreThe Sarbanes Oxley Act ( Sox )2238 Words   |  9 Pages The Sarbanes-Oxley Act. An act passed by U.S. Congress in 2002 to protect investors and the general public from the possibility of accounting errors and fraudulent practices by corporations. The Sarbanes-Oxley Act (SOX), named after U.S. Senator Paul Sarbanes and U.S. Representative Michael G. Oxley, which contains eleven sections, mandated strict reforms to improve financial disclosures and prevent accounting fraud. The eleven sections of the bill cover responsibilities of a public corporation’sRead MoreThe Sarbanes Oxley Act ( Sox )955 Words   |  4 PagesErnestas Zarskis BUS 5644 International Accounting and Reporting Paper #2 Dr. LuAnn Bean 1. Based on the video Bigger Than Enron, discuss at least five features of the Sarbanes-Oxley Act (SOX) that are the result of events related to corporate fraud. Under Section 302 signing officer should be familiar with the report and are responsible for internal controls and have evaluated these internal controls within the previous ninety days and have reported on their findings. Also, report should notRead MoreThe Sarbanes Oxley Act ( Sox ) Essay1609 Words   |  7 Pagesmalpractices across several companies in the United States such as Enrol Corporation, Tyco International and WorldCom, there has been a lot of attention with regards to the accounting practices in the corporate sector. Specifically, the Sarbanes – Oxley Act (SOX) which was passed by congress in 2002, was aimed at addressing the situation by regulating fraudulent accounting practices such as bribery and wrong entries in books (Williams Elson, 2010). While regulation has its own limits, it is hopedRead MoreThe Sarbanes Oxley Act ( Sox )969 Words   |  4 Pagesthe accounting field Due to my position as your Financial Adviser, it is my duty to explain to you some important changes in the accounting field and the legislation that brought about this change. In 2002 the U.S. Congress passed the Sarbanes-Oxley Act of 2002 (SOX), a legislation put in place not only to improve the accuracy of corporate disclosures, but also to protect shareholders and the general public from accounting errors and fraudulent practices in all organizations. Although these organizationsRead MoreThe Sarbanes Oxley Act ( Sox ) Essay1233 Words   |  5 Pagescompanies such as Enron and WorldCom in the turn of the century motivated Congress to pass the Sarbanes-Oxley Act (SOX) in 2002 to strengthen regulations within the accounting profession (Whittington Pany, 2014). As a result, the SOX introduced provisions that changed the accounting function, such as the establishment of the Public Company Accounting Oversight Board (PCAOB) and other major elements; however, the SOX regulations subsequently resulted in consequences to its compliance. In the United States

Learning Styles Personality Types Free Essays

Teamwork: Balancing Learning Styles and Personality Types R. Haynes GEN200 October 7, 2010 Abstract Three different learning styles and personality types were assessed to identify a strategy for the three to collaborate and communicate effectively in a team-setting. The use of the Myers-Briggs personality type indicator and Howard Gardner’s theory of Multiple Intelligences determined the different personality types and learning styles to study. We will write a custom essay sample on Learning Styles Personality Types or any similar topic only for you Order Now Every personality type and learning style offers skills and abilities beneficial to teamwork. Students and employees benefit from knowing their personality type and learning style. It allows them to determine how they will best contribute to a team. Teamwork: Balancing Learning Styles and Personality Types Even though undefined, knowing one’s learning style and personality type allows one to determine their skills and abilities to excel. The Myers-Briggs personality type indicator and Howard Gardner’s theory of Multiple Intelligences was used to assess different personality types and learning styles. These assessments are used by schools as well as employers; the results of these assessments bring self-awareness allowing one to determine how one works individually and what one has to offer to a team. Teamwork is a part of everyday life; whether one is a student or an employee. As a student to know one’s learning style or personality type helps one discover the best way to study and retain information. It also allows one to assess how well one can contribute to and collaborate in a group project. As an employee, one works with a team daily therefore knowing the way one learns or one’s personality type allows them to â€Å"pinpoint your own strengths and weaknesses and let your teammates know where you can excel† (Wee ; Morse, 2007, para. 8), which makes delegating tasks and roles easier. In either setting, one can play up their strengths, build weaknesses, and focus their career to their skills and abilities. One’s learning style is â€Å"your mind’s particular way of taking in and processing information† (Carter, Bishop, ; Kravits, 2007, p. 38). Verbal-linguistic, interpersonal, and visual-spatial are just three of many learning styles one may fall into. A verbal-linguistic learner uses language to learn and can listen, memorize, and speak well. An interpersonal learner relates to others and considers the perspective of others. They learn best in group discussions or group activities. A visual-spatial learner is capable of perceiving and creating images. They use charts, diagrams, or graphs to learn effectively. For these three learners to work effectively together consider developing study groups in which each learner teaches the information to the group. In the study group include graphs or PowerPoint presentations for visual-spatial learners, group discussion for interpersonal learners, and outlines of the presentation for verbal-linguistic learners. Including different techniques will help each learner to perfect strengths and build weaknesses. An individual’s personality characteristics identify how one learns, thinks, reacts to others, and retains information. The three personality types that were assed were an Organizer, Adventurer, and a Giver. An Organizer is responsible, disciplined, and loyal. They work well in structured environments. An Adventurer is courageous, flexible, open-minded, and hands-on. A Giver is adaptable, honest, has open communication with others, and promotes potential in others. For these three personality types to collaborate together, the Organizer should create a schedule of tasks. The Giver and Organizer should request feedback to ensure all tasks are being met and each group member is equally participating. They should develop a game or use music to help memorize material or to present material for the Giver and Adventurer. All three personality types would enjoy working in a group with open communication. In a group, they can present new ideas to each other and establish those that work best to achieve their goal. In conclusion, although undefined, knowing one’s learning style and personality type allows one to determine their skills and abilities to excel for two main reasons. First, one will be aware of what areas are their strongest and weakest. Most important, one will be aware of how one works individually and what one has to offer to a team. Personality types were assessed using the Myers-Briggs personality indicator and learning styles were assessed using Howard Gardner’s theory of Multiple Intelligences, which is used by schools as well as employers. These assessments prepare one for collaborating and communicating in a team either at school or in a work environment. References Carter, C. , Bishop, J. , Kravits, S. (2007). Keys to College Studying: Become An Active Thinker (2nd ed. ). Upper Saddle River, NJ: Prentice Hall, Inc. A Pearson Education Company. Wee, J. , Morse, O. (2007, Aug). Juggling People-Secrets for Successful Teams. Cost Engineering, 49(8), 38. How to cite Learning Styles Personality Types, Essays

Motivations In Advertising free essay sample

For every question they asked they would demonstrate a stereotype. They do this for two more questions then they asked the older teens. Each one of them word run normally not as a stereotype but as themselves. When they asked a young man if he just insulted his sister he said no then he said yes he put his head down any said my intention was not to hurt my sister. He put his head down any said my intention was not to hurt my sister.The message at the end Of the commercial was always be yourself dont let others put you down and take pride in who you are. My thoughts and theories on this commercial I believe this to motivate the younger generation to be themselves and not what others portray them as. Feel the always commercial is driving the younger generation and trying to motivate them to be something more and think positively and dont let others bring you down. We will write a custom essay sample on Motivations In Advertising or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This commercial is also evolutionary because in time girls were portrayed to not being able to run or throw a ball or do things that men could do and through time girls have been wowing everybody that they can do what men can do and that we as women are equal. So with this always commercial it is telling girls its okay to be you and dont be a stereotype. Be who you want to be and do what you want. Do not let others control your future or control who you are. This commercial was powerful, heartfelt and motivational. There is a whole line of these commercials on TV and each one is as motivational as this one was.

What is a Superhero free essay sample

As a child my favorite superhero was Superman. I read the comics, awed at Christopher Reeve and even tried flying off my bed a couple of times. Clark Kent was the man, our only hope for when some alien robot spaceship would attack the weak race of humanity. You just don’t mess with the man who can dodge bullets! I maintained my firm belief that Superman was unbeatable until about seventh grade, my first year of junior high. I met my future best friend, Courtney, who I immediately clashed with at the lunch table. The first day a heated superhero debate ensued. She started with a simple off-hand comment, â€Å"Batman would win in any situation, and he doesn’t need superpowers to kick butt.† I laughed and retorted, â€Å"Well until you put him against superman.† And than it started, Courtney was pulling for Batman with her no-superpowers-equals-better argument; I fighting for Superman like Courtney was that alien robot spaceship that needed to be destroyed. We will write a custom essay sample on What is a Superhero? or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page It ended in a draw, with the terms that it would remain something of which we do not speak. Years passed, neither of us speaking of the dilemma. As the new Superman and Batman movies came out we had an unspoken agreement that we wouldn’t see them together. We grew closer as friends, even getting jobs together at McDonalds; a dirty job neither of us wanted to go into alone. But with our oldest manager being twenty seven, it was an interesting place to work. I was dubbed the name â€Å"Pantsmonster†, its roots being my last name and their supposed resemblance. We both came to realize how hard the work was but how easy it was to make friends.We all appreciated the work we did and had a blast doing it. When someone did an amazing job they were recognized for it and given the deserved respect. Though we worked our hardest and made everlasting friendships, there were still obstacles to overcome. The most memorable of these being a week long promotion we were running: double cheeseburgers for one dollar. Every day of this sale I was assigned the grilling job of meat and chicken. Though it seemed the lines were endless and the number of double cheeseburgers sold multiplied by the minute, I managed to keep my food levels bountiful; a feat that seemed near impossible. While doing this I also made sure my grill team stayed hydrated, constantly fetching drinks for the thirsty. From this day forward I was known as the Majestic Pantsmonster, master of the grills, beacon of light to the thirsty. To them I was a regular superhero, whose epic battle was the week long double cheeseburger fiasco. It dawned on me that to be considered a great superhero, superpowers are not required. You just need a body of people in need who are looking for someone to pull them through the hardest of times. Like Batman was to the people of Gotham. And though to this day I won’t admit it to Courtney, Batman will always be the greatest superhero in my book. His ability to fight crime and win while being powerless is truly iconic and inspiring. While he may just be a comic book character, his message to fight for what you believe in, even if you are just an everyday person, echoes in the extraordinary actions of ordinary people. As Batman waits for his next challenge, I await mine; whether it is next week at work or further into my future. I anticipate the obstacles that lie ahead, ready to leave my childish love of Superman behind.

Rome, NY

Rome, NY will always have a special place in my heart. Even though I was only there for 3 days, it was 3 days that I will always remember. During that time I experienced a wide variety of things and was exposed to a wide variety of people and influences. Rome, NY was a completely different then any other place on earth for those 3 days. Once you walked though the main gates to the Griffis Air Force Base it was like there were no laws and everything that was socially accepted were no longer the norm. Public nudity was not frowned upon, but it was cheered for, people did not have to hide drug use, for where ever you looked there was someone using, selling or distributing drugs for free and amongst all of this there is the sound of live performances by some of todays most well known musical acts, such as The Red Hot Chilli Peppers, The Offspring, Dave Matthews Band and even some acts to pass the generations like Willie Nelson and Elvis Costello. Upon reaching the complex you cannot miss the 10 high wall, painted into a giant mural surrounding the entire grounds. The mural portrays everything in our generation from the Coco Cola Polar Bear to Austin Powers. And from generations past things as The Whos Tommy and performers at the original Woodstock in 1969 like Crosby, Stills Nash and Young. As you walked though the main gates of complex the first thing you saw was a line of Porto potties over a mile long. Then as you walked past there you would come too the main camping area. This area was a wide open area full of freshly cut green grass with trees growing sporadically around in the area many times that of a regulation football field. Which would soon be nothing more then a giant sea of every color, shape and size of tent that you can imagine. And surrounding each tent was either some type of flag or descriptive emblem to allow you to find your tent later. Aft

Granpa's Gift To Me Essay Example | Topics and Well Written Essays - 500 words

Granpa's Gift To Me - Essay Example My grandpa presented me a beautiful wristwatch on my 10th birthday. When he presented me the watch, he also reminded me that I should not forget to use it properly. Grandpa showed me the stopwatch function of that golden electric watch and insisted me to arrange my actions after setting timer. Analyzing all the incidents occurred in my life after receiving the gift; I can certainly say that the gift helped me to increase my concentration, discipline and above all my confidence level. Therefore, I can say that a good gift can definitely change one’s life. I never thought or heard in my life that a gift helps one to increase one’s concentration. Grandpa clearly showed me how such a gift will increase one’s concentration. Grandpa told me that time is so precious that we should not waste even a minute in our life. He showed me the way of saving time with a small and interesting example. When we started having soup after setting the stopwatch, I could finish the soup ten seconds before him. Grandpa encouraged me by telling that I saved ten seconds which will be really useful for me at a later time. After this incident I began to observe things very minutely and gradually felt the level of my concentration increasing. Another good quality that the gift brought to my life is discipline. Though I was not too lazy, I would very often violate some of the rules and regulations of my school. Majority of these violations were not deliberate and the prominent among them was going late to school. I would often reach school late and miss the first hour of the study, just for being late to some minutes. When started scheduling my time, that is, began to save time, to my wonder I could reach school too early and it opened me the new realm of knowledge. I realized that I was wasting my valuable time on trifles and that is why I cannot complete assignments and homework’s in time. Realizing this fact I rearranged my

What Is Critical Literacy Essay Example | Topics and Well Written Essays - 1000 words

What Is Critical Literacy - Essay Example Critical literacy is important as it moves readers beyond traditional view point about reading literature for the sake of reading the words but also to read the world. Coming up with questions about people whose voices have been represented or missing in the text, who gains or losses because of reading the text, assists the reader comprehend the text’s objectives and protect readers from being manipulated by the text itself (Joseph, 1985). Critical literacy support readers to analyze texts actively and offer strategies for uncovering underlying information. There are many different perspectives about critical literacy which have produced various pedagogical approaches about learning and teaching. All these approaches have a common basic ground that literacy needs literate users of texts to implement a critical questioning approach (Edward, 2006). Proponents of critical literacy suggest that the practice is not just a way of achieving literacy by improving one’s ability to decode texts but is the ability to have a dialogue with others about the various meanings information might have and taking through a potentially critical learner how to think flexibly. Literacy development has encouraged students to interrogate issues of power, for example the disparities in a social context for instance socio-economic status, gender, sexual orientation, class, race etc. Students have become critically literate because they have the ability to critique messages that are in the texts that they read. Fundamentally, instructors who use critical pedagogy show how to examine the language and how it plays a role in the social construction. This therefore implies that critically literate students evaluate ongoing development, the role they play on the earth and how experiences make sense to them. There are many ways of involving students t o become critical members