Financial statements

Different governments across the world enact different acts to different business and investors in order to help them in curbing specific challenges facing various business. The provisions of this acts apply in both public and private companies and overs the major responsibilities that are expected to be carried out in order to ensure this provisions of the act are followed. In the following discussion we are going to look at Sarbanes-Oxley Act which was a United States federal law. Question…

Each person has a vested interest in the bank and wants to make a profit. Banks need to meet their customer needs, as from the deposits that customers make allow for loans to be funded, and that is how a bank can grow for the future. As a shareholder, it is vital for the person to make a profit. For example, the vendor that installs the check imaging system for the ATM wants the product and service to be successful because if not, it affects the vendors’ reputation. Employees want to work for a…

Garcia and Weir’s staff, SYF corporation, SYF employees, unnamed client, Billy Hart, Steve Vincent, SYF’s stock holders and the rest of the firm’s partners. Brent’s actions and integrity left all the addressed stakeholders at risk for a substantial financial loss. This is the reason I wholeheartedly agree with the final actions of the firm managing their situation. Ultimately, Hart could’ve elected a different approach in dealing with Mydland’s deceitfulness. Billy had the opportunity to ignore…

amounted to the total derivative losses to US$550 million. However, these losses have been covered up by manipulating the figures using the wrong assessment method by taking the intrinsic value as the fair value of the derivative on the company’s financial statements. In other words, they are ignoring the maturity, volatility, interest rates that are taken into consideration when calculating fair value amount to present an unrealistic figures to the public and the shareholders. To make matter…

What is Six Sigma? • Statistical measure and a management philosophy • Used to symbolise standard deviation • A measure to determine how good or bad the performance of the process is i.e. how many mistakes the company commits while carrying out the process. The dabbawalas were awarded the six sigma certificate by the Forbes Magazine as part of the quality assurance study carried out by the magazine n their operations. What it meant was that the dabbawalas made one mistake in 6 million…

1988, four tasks demanded Thomas Kren's immediate attention. (Oster287) The first of the ambitious and controversial is the expansion program that began in 1982 by his predecessor would not be completed until the summer of1991. (Oster287) These Financial Resources of the museum were a portion of the museum’s permanent collection. (Oster287) The Post-World War the Second was the portion of the museum’s permanent collection comparatively weak, and this museum was hampered by the public’s…

Reader, it showed that description can provide the significant details to explain some ideas so let the writing skill become more strong (p.23). In the article which is “Post-Public Accounting Careers,” the authors use description to illuminate some statements to provide a clear understanding of the content. This is a professional article in a specific major area, so it's difficult to understand completely by people who are not in this area without the description. For instance, the author…

Problem statements There are two sets of concepts that shall not be confused: social market verse monetary market; extrinsic incentives (motivations) and intrinsic incentives (motivations). Although they are also firstly studied by psychologists, they have significant differences. The major difference between the “social market” and the “monetary market” is simple: It depends on whether or not “money” is involved. (Heyman & Ariely, 2004) In terms of our experiment, I argue that knowledge can…

Grant Thornton's decision to completely rely on Jack Greenberg, Inc’s delivery receipts to perform the company audit is the controversial issue in the case given. It had justified that the independent auditor relied on the delivery receipts as the audit evidence based on the ‘segregation of duties’ system. The case here explained that JGI’s internal control procedures for inventory had been executed by different person as the purchasing, receiving and approving functions are performed by the…

Mr. Pang Hwang Kim claimed he is not in an employee with Kilo E-Liquids or his contracted to perform any services or act as a third-party to conduct any particular plumbing or skilled electrical trades with the insured. He further stated that he does not have or operate a construction company that provides any electricians to perform any jobs with businesses or with private residences. What he said is an interior designer. He owns his own designing business where he works out of his home. He…