Sarbanes Oxley Act Of 2002 Essay - 1343 Words

Sarbanes-Oxley Act of 2002 The financial crisis of the early 2000s left many investors and stockholders nervous about the accuracy of financial statements issued by public companies. The financial crisis resulted after many previously successful companies suddenly tanked due to restatement of their financials. These companies include Enron, Tyco, Sunbeam, Rite-Aid, Xerox and WorldCom amongst others (Kieso, 2014, p. 17). How could many previously successful companies suddenly go belly-up? The evidence was to be seen, these companies had used malicious accounting techniques to hide massive amounts of debts and increase their assets without having to show them accurately in a fair and honest way on their financial statements. This paper will discuss the legislation that was enacted following these events. It is known as the Public Accounting Return and Investor Protection Act, better known as the Sarbanes-Oxley Act, and has been enacted since the year 2002 (Mishkin, 2012, p. 158). This Act is applicable to all public companies within the US as well as any international companies who have securities within the US registered with the SEC (The Vendor-Neutral Sarbanes-Oxley Site, 2012). In this paper, it will be discussed why Sarbanes-Oxley was enacted and the key specifications. Why Sarbanes-Oxley? The Sarbanes-Oxley Act, which will now be referred to as SOX, was enacted essentially to curb conflicts of interest, thus reducing the expectations gap. The expectations gapShow MoreRelatedSarbanes-Oxley Act of 2002985 Words   |  4 Pages Sarbanes-Oxley Act of 2002 Week # 2 Individual Assignment â€Æ' Sox Key Main Aspects for a Regulatory Environment Sarbanes-Oxley Act was passed in 2002 by former president George Bush. Essentially to combat the Enron crisis. The Sox Act basically has regulatory control and creates an enviroment that is looking out for the public. Ideally this regulatory environment protects the public from fraud within corporations. Understanding, that while having this regulatoryRead MoreThe Sarbanes Oxley Act Of 20021614 Words   |  7 PagesThe Sarbanes-Oxley Act of 2002 (SOX) was enacted to bring back public trust in markets. Building trust requires ethics within organizations. Through codes of ethics, organizations are put in line to conduct themselves in a manner that promotes public trust. Through defining a code of ethics, organizations can follow, market becomes fair for investors to have confidence in the integrity of the disclosures and financial reports given to them. The code of ethics include â€Å"the promotion of honest andRead MoreThe Sarbanes Oxley Act Of 2002 Essay1605 Words   |  7 Pages well-known acts have been signed into laws by the presidents at the time to protect investors and consumers alike. A brief overview of the Sarbanes-Oxley Act of 2002, a discussion of some of the provisions therein, opinions of others regarding the act and also my personal and professional opinion will be discussed below. The same will be examined about the Dodd-Frank Wall Street Reform and Consumer Protection Act. Senators Paul Sarbanes and Michael Oxley were the sponsors of the Sarbanes-Oxley Act of 2002Read MoreThe Sarbanes Oxley Act Of 20021563 Words   |  7 PagesThe Sarbanes-Oxley Act of 2002 (SOX) was enacted to bring back public trust in markets. Building trust requires ethics within organizations. Through codes of ethics, organizations conduct themselves in a manner that promotes public trust. Through defining a code of ethics, organizations can follow, the market becomes fair for investors to have confidence in the integrity of the disclosures and financial reports given to them. The code of ethics includes the promotion of honest and ethical conductRead MoreThe Sarbanes Oxley Act Of 20021015 Words   |  5 PagesThe Sarbanes-Oxley Act of 2002, also known as the SOX Act, is enacted on July 30, 2002 by Congress as a result of some major accounting frauds such as Enron and WorldCom. The main objective of this act is to recover the investors’ trust in the stock market, and to p revent and detect corporate accounting fraud. I will discuss the background of Sarbanes-Oxley Act, and why it became necessary in the first section of this paper. The second section will be the act’s regulations for the management, externalRead MoreThe Sarbanes Oxley Act Of 2002 Essay1070 Words   |  5 Pagesof Sarbanes-Oxley Act of 2002. This Act was placed into law to protect the consumer against fraudulent activity by organizations. This paper will provide a brief history of the law and discuss some of the ethical components and social implications on corporations. This research will provide information on how the Sarbanes-Oxley Act affects smaller organizations and how it encourages employees to inform of wrong doings. Brief Synopsis of Sarbanes-Oxley The U.S. Congress passed the Sarbanes-OxleyRead MoreThe Sarbanes Oxley Act Of 20022137 Words   |  9 Pagesdishonest act that remained common amongst companies such as Enron, WorldCom, and Tyco was the fabrication of financial statements. These companies were reporting false information on their financial statements so that it would appear that the companies were making profits. However, those companies were actually losing money instead. Because of these companies’ actions, the call to have American businesses to be regulated under new rules served as a very important need. In 2002, Paul Sarbanes from theRead MoreThe Sarbanes Oxley Act Of 20021525 Words   |  7 Pagesthe Sarbanes-Oxley Act of 2002 (Cheeseman, 2013). Congress ordered the Sarbanes-Oxley Act of 2002 (SOX Act) to shield customers from the fraudulent exercises of significant partnerships. This paper will give a brief history of the SOX Act, portray how it will shield general society from fraud inside of partne rships, and give a presumption to the viability of the capacity of the demonstration to shield purchasers from future frauds. History of the SOX Act Congress established the Sarbanes-Oxley ActRead MoreSarbanes Oxley Act of 20021322 Words   |  6 Pagesï » ¿Sarbanes-Oxley Act of 2002 Descriptions of the main aspects of the regulatory environment which will protect the public from fraud within corporations are going to be provided in this paper. A special attention to the Sarbanes – Oxley Act of 2002 (SOX) requirement; along with an evaluation of whether Sarbanes-Oxley Act will be effective in avoiding future frauds based on their implemented rules and regulations. The main aspects of the regulatory environment are based on the different laws and regulationsRead MoreThe Sarbanes Oxley Act Of 2002 Essay1302 Words   |  6 PagesThe Sarbanes-Oxley Act of 2002 was the result of a number of large financial scandals in the United States in the late 1990s and early 2000s. One of the most well-known corporate accounting scandals was the Enron scandal, which was exposed in 2001. Enron, an energy company that was considered one of the most financially sound corporations in the United States before the scandal, produced false earnings reports to shareholders and kept large debts off the accounting books (Peavler, 2016). Enron executives

Assessment A Child And Adolescent The Term `` Made Me...

As a child and adolescent the term â€Å"assessment† made me cringe inside. Now, as a future educator my perspective on this topic has completely changed. Over time, assessment has developed a negative connotation among many individuals. However, I think we as educators are to blame for this. Student’s attitudes about tests reflect the teacher’s attitude in many cases. We need to make it exciting for children, which is how I intend to approach testing because this is a way for students to demonstrate what they know and have learned throughout school. Assessments are important and stand to be a useful tool for multiple reasons. Primarily, it helps educators make decisions about what to teach students. Tests provide information about what†¦show more content†¦These should not be graded and should be used solely for the purpose of knowing what you need to teach, which needs to be made clear to students. This type of assessment is appropriate before covering any type of new material that has not been taught yet. One of my favorite pieces about pre-assessments is that you can tailor them to any learner and support multiple intelligences. Students can demonstrate their knowledge through writing, drawing, discussions, concept maps, performing, and etc. I plan to use the strategies that are most applicable to my students. For example, most elementary children love to draw and color so this is an effective way to assess them without any added stress or anxiety that arises with the stigma of an assessment. Also, while teaching summer school I used chart paper and had my students tell me everything they knew about tornadoes, which helped address the various misconceptions the students had. Ultimately, pre-tests should let students express themselves in varying methods and allow for that differentiation to take place that Howard Gardner promotes. The next type of test that is useful for educators and students themselves is formative assessment. As these happen all throughout the school year, this t ype of test provides students with continual feedback and gives them an idea of where they are in terms of understanding the content and developing as a learner. Thus, the depth of feedback

Apush Explorers and Revolutionary War free essay sample

French explorer that explored the Great Lakes, the Mississippi River, and he Gulf of Mexico 4. Fort Niceness ¶y g. After Washington and his men fired and killed some French troops and their leader outside of Fort Duquesne, Washington set up hastily constructed breastworks called Fort Necessity h. After a ten hour siege, he was forced to surrender his entire command in July 1754, but was permitted to march his men away with the full honors of war 5. The French and Indian War/ 7 Years War I. The fourth Anglo-French struggle j.It was fought in America and in Europe, the West Indies, the Philippines, Africa, and in the ocean k. In Europe, the principle adversaries were Britain ND Prussia against France, Spain, Austria and Russia l. France wasted so many troops in Europe that it was unable to send sufficient support to the colonies 6. General Edward Bradford m. Sixty year old officer that was experienced in European warfare n. He was sent to Virginia with a strong detachment of British troops o. After foraging scanty supplies from the colonists, he set out in 1755 with 2 thousand men to capture Fort Duquesne p.Most of his force consisted of ill-disciplined colonial militiamen q. Burdocks expedition moved slowly because they had to drag heavy artillery r. A few miles from the fort, Bradford encountered a much smaller force of French and Indians, but they ran into the thickets and poured a murderous fire into the ranks of the redcoats s. Washington came to Burdocks aide t. Bradford was mortally wounded and the British force was routed after terrible losses 7. General James Wolfe and the Battle of Quebec u. 32 years Old and had been an officer since age 14 v.He sent a detachment up a poorly guarded part of the rocky eminence protecting Quebec w. They scaled the cliff and by morning, the 2 armies faced each other on the Plains of Abraham on the outskirts of Quebec He fell fatally wounded after the battle, but the French were defeated and the city surrendered 8. The Peace of Paris of 1763 y. French power was thrown completely off the continent of North America z. The French were allowed to retain several small but valuable sugar islands in the West Indies, and two islets in the Gulf of SST.Lawrence for fishing stations {. France ceded to Spain, all trans-Mississippi Louisiana plus New Orleans l. Spain gave Florida to Britain for Cuba where Havana had fallen into British arms 9. Chief Pontiac War y. Pontiac led several tribes including a handful of French traders in a lenient campaign to drive the British out of Ohio country Pontiac war besieged Detroit in the spring of 1 763 at the hands of a rival chieftain and overran all but 3 of the British posts west of the Appalachians, killing 2000 soldiers and settlers CLC.The British retaliated by waging a primitive biological warfare where one British commanded ordered blankets infected with small pox to be distributed among the Indians . This crushed the uprising and brought an uneasy truce to the frontier Pontiac died in 1769 at the hands off rival chieftain 10. The Proclamation of 1 763 . It flatly prohibited settlement in the area beyond the Appalachians, ending further adjustments . This document was not intended to oppress the colonists at all, but to work out the Indian problem fairly and prevent another bloody eruption like Pontiac uprising Chapter 7 1.The Navigation Acts: a. Passed by Parliament in 1650 to target rival Dutch shippers trying to elbow their way into the American carrying trade b. All commerce flowing to and from the colonies could only be transferred in British vessels Required that European goods destined for America first had to be landed in Britain where tariff duties could be collected and British middlemen could take a slice of the profits d. American merchants must ship enumerated goods, notably tobacco, exclusively to Britain even though the prices might be better elsewhere 2.Salutary Neglect: e. Navigation Laws that were imposed held no intolerable burden mainly because they were loosely enforced (Salutary Neglect) 3. George Greenville: f. Prime Minister that first aroused the resentment of the colonists in 1763 by ordering the British Navy to begin strictly enforcing the Navigation Laws g. He secured from Parliament the Sugar Act of 1 764 h. Quartering Act of 1 765: required certain colonies to provide food and quarters for British troops I. Stamp Act of 1 765 j. Greenville regarded these measures as reasonable and just k.He was simple asking the Americans to pay a fair share of the costs for their own defense I. Colonists believed that Greenville was striking at their local liberties 4. Sugar Act of 1 764: m. First law ever passed by Parliament for raising tax revenue in the colonies for the crown n. It increased the duty on foreign sugar imported from the West Indies o. After bitter protests, the duties were lowered substantially and the agitation died down 5. Stamp Act of 1 765: p. Greenville was trying to raise the tax revenues to support the new litany force q.The Stamp Act mandated the use of stamped paper or the affixing of stamps, certifying payment of tax r. Stamps were required on bills of sale for about fifty trade items as well as on certain types of commercial and legal documents, including playing cards, pamphlets, newspapers, diplomas, bills of lading, and marriage licenses 6. Taxation without Representation: s. The phrase colonists chanted after the stamp act was enacted 7. Virtual Representation: t. Greenville claimed that the American colonies were represented in Parliament u.He declared that the power of Parliament was supreme and undivided and that every member of Parliament represented all British subjects, even those Americans in Boston or Charleston who had never voted for a member of the Parliament v. Americans scoffed at the idea of virtual representation 8. Stamp Act Congress 1765: w. It brought together in NYC, 27 distinguished delegates from nine colonies x. After debating, the members drew up a statement of their rights and grievances and beseeches the king and Parliament to repeal the repugnant legislation y. The Congress, which was ignored in England, made little splash at the time in America z.It was one more step to colonial unity 9. Non-lamentation Agreements: A promising stride towards union I . People started using home made goods and stopped purchasing British imports This gave colonial men and women a chance to participate in colonial protests 10. Sons of Liberty: Took law into their own hands D. Cried Liberty, Property, and No Stamps . They enforced importation agreements against violators with tar and feathering . Patriotic mobs ransacked the houses of unpopular officials, confiscated their money, and hanged effigies of stamp agents on liberty poles 11. Declaratory Act 1766: .Reaffirmed Parliaments right to bind the colonies in all cases whatsoever It defined the constitutional principle it would not yield: absolute and unqualified sovereignty over its North American colonies Charles Townsend: . Seized control of the British ministry as the new Prime Minister Champagne Charley . Persuaded Parliament to pass the Townsend Acts . Often drunk 12. . Understood the difference between external and internal taxes 13. Townsend Acts 17671 Light import tax on glass, white lead, paper, paint and tea . Made this tax an indirect customs duty payable at American ports .To the Americans, this difference did not matter . Parliament suspended the legislature of NY because of failure to comply tit the quartering act . The Townsend Acts were to be earmarked to pay the salaries of the royal governors and judges in America Importation acts were quickly revived against Townsend acts Boston Massacre 1 770: . A crowd of 60 townspeople set upon a squad of ten redcoats hit the red coats with clubs . The troops opened fire and killed or wounded eleven citizens first to die was Crisps Attacks . Only 2 red coats Were found guilty Of man slaughter 15.King George Ill: . 32 years old 14. . They . The . Strenuously attempting to assert the power of the British monarchy Townsend Acts had failed to produce revenue He was a good man but a bad ruler . He surrounded himself with cooperative yes men and a corrupt Prime Minister Lord North 16. Lord North: . Under Lord North, Parliament repealed the Townsend revenue duties except the tax on tea The tax that colonists found most offensive was retained to keep alive the principle of parliamentary taxation . Corrupt 17. Committees Of Correspondence 1772: .Samuel Adams organized the local committees of correspondence He formed the first one in Boston in 1772 which provoked 80 other towns in their colonies to set up similar organizations . Their chief function was to parade the spirit of resistance by interchanging letters and this keep alive opposition to British policy . Virginia created the House of Burgesses in 1773 by creating such as body such as a standing committee of the House of Burgesses . Within a short time, every colony had established a central committee through which it could exchange ideas and information with other 18.British East India Company: . In 1773, it was overburdened with 17 million pounds of unsold tea and was facing bankruptcy . If it collapsed, then the London government would lose heavily in tax revenue, so they decided to assist the company by warding it a complete monopoly Of American tea business . The company offered to sell tea much cheaper even with the tax, but Americans refused to buy it 19. Boston Tea Party 1 773: . A band of Bostonians, disguised as Indians, boarded the docked tea ships on December 16, 1773 . They smashed open 342 crates of tea and dumped the contents into the harbor .After this, Hutchinson traveled to Britain and never returned 20. Coercive/lamentable Acts 1 774: . In 1774, it passed a series of acts designed to chastise Boston in particular, Massachusetts in general . Called the massacre of American Liberty Boston Port Act was the most drastic. It closed the harbor until damages were paid and order could be ensured . Many of the chartered rights of colonial Massachusetts were swept away . Restrictions were placed on town meetings . Enforcing officials who killed colonists in the line of duty could now be sent to Britain for trial .Quebec Act 1774: guaranteed the French their Catholic religion and permitted them to retain their customs and traditions and extended the boundaries of Quebec southward down to the Ohio River 21 . First Continental Congress: . 1774 the first congress was to meet in Philadelphia to consider ways Of dressing colonial grievances . 12/13 colonies with only Georgia missing sent 55 distinguished men . They deliberated for 7 weeks from Seep 5-act 26 . It was not a legislative, but a consultative body a convention rather than .After prolong argument, the congress drew up several a congress dignified papers including the Declaration of Rights . The most significant action of the Congress was the creation of the Association 22. Declaration of Rights: . Made by the continental congress 23. The Association: . It called a complete boycott on British goods: importation, non- exportation, and non-consumption The delegates were not yet calling for independence, they wanted to repeal the offensive legislation and return to the happy days before parliamentary taxation 24.

Competition and Strategy in Higher Education †MyAssignmenthelp

Question: Discuss about the Competition and Strategy in Higher Education. Answer: Introduction It can be analyzed that development tools play a great role in conducting the activities in the right direction. It is seen that in this essay the focus will be given more on the development tools like SWOT, Porter five forces and Pestle analysis. These tools help to maintain proper balance in the overall activities of the company. SWOT analysis is one of the development tools that provide information related to the internal environment of the organizations. In this tool, there are four sections that represent the concept of strength, weakness, opportunities, and threats. It is the important concept as it helps to give actual position which the company has in the market. It is seen that the focus is given by the managers of the organization and rectification are done so that competitive advantage can be achieved (Bell and Rochford, 2016). This framework represents the strength of the company which has a connection with various factors of the marketing mix and it is also related to the market share of the company. The strength of the company represents the brand image and the overall goodwill possessed by the company. Next section is related to the weakness in which it has a link with the insufficient resources available with the company. Also in many companies, there is weak distribution channel which comes under the section of weakness (Huggins and Izushi, 2015). The threat of the company is related to the number of competitors of the company in the market. The last section represents opportunities that have a connection with the new product development and also the chance available to the customers to achieve large market share (Hill, Jones, and Schilling, 2014). Practical Example is related to Ford in which it can be analyzed that the company has a large market share and a good image. It is seen that goodwill of the company is one of the major strength that helps to achieve success in the competitive environment. The weakness is related to the high-cost structure and also low exposure in the Asian market. It is analyzed that due to this weakness negative impact is seen on the growth of the company (Santos and Laczniak, 2015). Opportunities of the company are related with the strategic partnership and also the company has new emission standards. Next aspect is related to a threat which the company faces in the competitive market. Ford has to face m major threat due to the fluctuation that takes place in the exchange rate and also the threat is from the competitors like Toyota and BMW who offer same products to the customers. Top management or the managers analyze all the aspects so that growth can be achieved in an effective manner (Sminia, 2017). Porter Five Forces Framework By focusing on this development tool it is analyzed that if the company consider this model then it can be possible to evaluate the competitive environment of the company. In this framework, there are five aspects of competitive rivalry which is related with the strength possessed by the competitors and also the prices of the competitors are evaluated. Power of supplier is also one of the factors which are related to the overall suppliers or number of suppliers in the market. If there are large numbers of suppliers then power is reduced (Pucciarelli and Kaplan, 2016). Power of buyer is also considered as a factor in which proper evaluation is made of the buyers who are availing the services of the company. The threat of substitute is one of the aspects in which proper analysis is made of the substitute that is seen in the market and it gives impact on the overall prices of the company. The threat of new entry is one of the factors in which analyze is made by focusing on the new entry of the business in the market. It is analyzed that it has a link with the overall high cost and also concerned with the entry in the market of the new business. It is seen that in there are many new businesses who are entering the market due to this the new entrants is high in the market. The substitution of products is also high as there are many competitors who are present in the market like Cadbury from which the customers can easily substitute the products. It is seen that power of buyer is high in this company as there are many buyers who purchase the products and if the focus is given on the supplier then it can be analyzed that it is also high as there are many suppliers who offer products to the customers in the market. If rivalry level is analyzed then it is seen that it is high as the competition level is high in the market (Porter and Heppelmann, 2014) PESTLE Analysis framework This framework focuses on the external environment analysis of a company which takes into consideration six aspects like political, economic, social, legal, environmental, legal and technological. In this framework, the entire external environment is considered in which the activities of the company are conducted. It is seen that there are many aspects of the analysis which help to analyze the environment of the industry. In this framework, there are six aspects like It is related to the government rules and regulations that influence the activities of the company. It can be evaluated that it gives direct impact on the policies which are given by the government and it considers tariff policies and fiscal policies which impact the activities of the company. It is seen that these factors give impact on the activities of the company (Grant, 2016). It is seen that it affect the overall performance of the company in a specific country. It also takes into consideration the rate of inflation that gives impact on the prices of the services and products. Revenue is also one of the factors which get affected and also impact is seen on the purchasing decision of the customers (Moutinho and Phillips, 2018). It is also related to the technologies which are latest and helps the company to enhance innovation. The activities are conducted smoothly of the company considers latest technologies to conduct the activities (Van Alstyne, Parker, and Choudary, 2016). It considers the external and internal factor of the company and also many laws are there which is important to be considered by the company. It has a connection with the environment of the surroundings in which the company conducts the activities. This is an important aspect which impacts the overall activities of the company.Apple is one of the practical examples and it is seen that the policies of the government give effect on the overall cost with is concerned with the labor and manufacturing. Also, the effect is seen on which impact the power of the buyers of the customers who are from different countries. The technological factor is also one of the aspects which show that products which are offered can be innovative. Also, it is the formation of the apple company is affected by the rules and policies which are imposed. Environmental issues are related to the used products which should be disposed of so that activities can be conducted smoothly. References Bell, G.G. and Rochford, L., 2016. Rediscovering SWOTs integrative nature: A new understanding of an old framework.The International Journal of Management Education,14(3), pp.310-326. Grant, R.M., 2016.Contemporary strategy analysis: Text and cases edition. John Wiley Sons. Hill, C.W., Jones, G.R. and Schilling, M.A., 2014.Strategic management: theory: an integrated approach. Cengage Learning. Huggins, R. and Izushi, H., 2015. The Competitive Advantage of Nations: origins and journey.Competitiveness Review,25(5), pp.458-470. Moutinho, L. and Phillips, P., 2018. Strategic analysis. InContemporary Issues in Strategic Management(pp. 46-79). Routledge. Porter, M.E. and Heppelmann, J.E., 2014. How smart, connected products are transforming competition.Harvard Business Review,92(11), pp.64-88. Pucciarelli, F. and Kaplan, A., 2016. Competition and strategy in higher education: Managing complexity and uncertainty.Business Horizons,59(3), pp.311-320. Santos, N. and Laczniak, G., 2015. Marketing to the poor: A SWOT analysis of the Market Construction Model for engaging impoverished market segments.Social Business,5(2). Sminia, H., 2017. The industrial organization approach. InThe Strategic Manager(pp. 51-70). Routledge. Van Alstyne, M.W., Parker, G.G. and Choudary, S.P., 2016. Pipelines, platforms, and the new rules of strategy.Harvard Business Review,94(4), pp.54-62.