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ACC 573 WEEK 3 Discussions"Profitability" Please respond to the following:http://onlinehomeworkacer.com/Paper/acc-573-week-3-discussions/As part of the Sarbanes-Oxley Act, corporate officers are no longer able to "pass the buck" of responsibility for ensuring adequate controls over financial statements and reporting activities thus ensuring the accuracy of financial statements. Assess the adequacy of the provisions contained within the Act, indicating whether or not you believe requirements will improve the accuracy of financial statements and reporting. Provide support for your rationale.Given the requirements contained in the Act for CEO and CFOs to certify the adequacy of controls and financial statement accuracy, evaluate your comfort level with this requirement should you become a CFO of a publically traded company. Provide support for your rationale. ACC 573 WEEK 3 Discussion 2 "Financial Risk" Please respond to the following:Based on the company you researched in the e-Activity, assess the financial "red flags" that would have indicated that the company may be having financial difficulty providing suggestions related to how management should address these problems. Provide support for your rationale.Evaluate whether or not you are confident that the models used for predicting bankruptcy would have been adequate to predict the invariable bankruptcy of the company you researched. Provide evidence supporting your position.
ACC 573 WEEK 1 DISCUSSIONS"SEC Reporting Requirements" Please respond to the following:http://onlinehomeworkacer.com/Paper/acc-573-week-1-discussions/Based on your review of the SEC reporting requirements as outlined in the Sarbanes-Oxley Act, assess the adequacy of the reporting requirements for providing credible financial and operating information for company stakeholders and potential investors, indicating any gaps identified in the reporting. Provide support for your rationale.From the e-Activity, suggest ways that these gaps may be addressed to increase the reliability of reporting requirements or minimize stakeholder and investor risk. Provide support for your recommendations. ACC 573 WEEK 1 DISCUSSION 2 "GAAP versus IFRS Reporting Requirements" Please respond to the following:Assess how the GAAP and IFRS convergence project has impacted SEC reporting requirements, predicting the long-term impact of the convergence on reporting. Provide a rationale for your prediction.Evaluate the challenges for U.S. public companies to fully adopt IFRS and propose solutions to these challenges. Provide support for your recommendations.
ACC 573 WEEK 2 Discussions"Accounting Valuation and Ethics" Please respond to the following:http://onlinehomeworkacer.com/Paper/acc-573-week-2-discussions/As a CFO of a publically traded company, suggest how you would create an ethical environment to ensure account balances are correctly valued and reported so that information is reliable for users. Provide support for your rationale.Assess the ethical requirements as outlined in the Sarbanes-Oxley Act, indicating whether or not you believe the requirements are adequate to ensure integrity in financial accounting and reporting activities. Suggest improvements that may be needed while providing support for your rationale. ACC 573 WEEK 2 Discussion 2 "Managing Earnings" Please respond to the following:In today's business environment where publicly traded companies feel pressure to meet short-term earnings expectations, management may be tempted to "manage earnings". Assess how a financial statement user may be able to detect managed earnings when reviewing the firm's balance sheet, income statement, and cash-flow statement. Indicate how a potential investor might interpret these "red-flags". Provide support for your rationale.Assess how the Sarbanes-Oxley Act addresses the concern of corporate "managed earnings", indicating whether or not you believe the requirements within the Act are sufficient to minimize these concerns. Provide support for your rationale.
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