Public Company Accounting Oversight Board

working for Halliburton as their Director of Technical Accounting Research and Training in March 2005. He was told by his new boss, Mark McCollum, the Chief Accounting Officer, that he was needed to be the “Smokey the Bear” in the accounting team (Eisinger, 2015). They had just gotten over a two-year accounting probe from the SEC shortly before Menendez was hired and he was supposed to do an assessment of the financials and accounting of the company and report his findings. Shortly after…

to be able to be rigorously interpreted and devote, there must be a satisfactory impartial of implementation guidance. The IASC standards often provide less implementation guidance than U.S. Instead, they condense statements of principles to some public standards outside the United States. Also, the IASC has formatted its standards by using venture some lettering to emphasize basic requirements of the standards while spot explanative theme in normal lettering. I believe that the requirements of…

and Responsibility for Compliance A. A finance manager is tasked to manage the funds of a company to the best benefit of the company while following compliance guidelines. To do this some of the decisions a finance manager would make would pertain to the capital structure of a company, input on investment and dividends, cash management and very importantly evaluating the financial performance of the company. B. As a financial manger each of the above decisions will need to be made in the…

to the appropriate parties, she was considered a responsible party in the case. Stacey L. Hamm was the Accounting Manager who reported to Parsons at the time of the scandal. She, too, had visibility and firsthand knowledge of the lack of compliance to GAAP standards, through the company practices and did nothing to correct the issues. Final…

multiple times during the decade. 2009 reflected a significant drop in price based on the previous years of 2006-07, while 2011-12 marked an all- time high for the company. What could be the reason(s) behind that? I will be focusing my financial analysis below on what I believe went wrong and why I feel there is room for improvement. Company Background Coach, Inc. is a leading New York design house of modern luxury accessories and lifestyle brands. The Coach brand was established in New York…

not tread lightly on this matter after he had ripped off so many people and ruined the remainder of their lives. Fastow ended up pleading guilty to fraud, insider trading, and almost 100 counts of money laundering. After taking one look into the accounting sheets of Enron, the courts needed not to be convinced that Fastow was guilty. As for Skilling’s charges, he ended up being convicted of over half of the counts of securities fraud (19 of the 28) and was given a little over 24 years in prison.…

surrounding community and/or to the nation or world, as a whole. Unlike the for-profit counterparts, nonprofits do not exist to generate profit or have owner’s equity or stockholders (Accounting Coach, n.d.). Instead, nonprofits must rely on contribution, membership dues, program revenue, fundraising events/activities, public or private grants, or investment income to generate revenue to keep the organization running and financially functioning. Likewise, the revenues must be greater than the…

Appointed and hybrid boards are two types of board formations that may have positive or negative effects on the organizations’ ability to fulfill its mission. Board members may be appointed by an authority outside the organization. For instance, a governor may appoint a member to a state university board of directors. However, nonprofit boards are rarely comprised of totally appointed members. Hybrid boards may consist of elected members, appointed members and others serving by virtue of…

business issues. It will be assumed there is honest reporting to shareholders and the executives are behaving ethically with accountable for their conduct. If anyone in a company is performing unethically, regardless of their title, it should result in their termination. Non-profit enterprises, which enjoy tax benefits and public financial support, should develop a compensation model tied to the activities of the organization and the revenues generated. This is advisable because these…

Evaluating Cost Reductions PPC is a small public plastics manufacturing organization which. The organization first became a publicly listed organization three years ago, and has experienced a large impact of the recent recession. The organization has taken several steps within the past year to reduce costs. The question has arisen as to whether said cost reduction actions are an operation issue or a control deficiency, of if said cost reductions are a material weakness or a significant…