The Quality of Financial Reporting After the Passage of...

Research Proposal The Quality of financial Reporting after the passage of Sarbanes-Oxley Act Dr. Hassan Ahmed Assistant Professor at Cameron University Abstract The complexity of business environment necessitates a set of required disclosures in a timely fashion. The full disclosure principle under U.S. GAAP is based on a vague definition that cannot be clearly implemented. The cost of disclosures can be significantly large and can have a negative impact on companies’ future earnings (small businesses). The purpose of this article is to examine the disclosure establishment of pre and post Enron, the effect of those disclosures on both corporations and on potential investors and to examine whether financial reporting quality†¦show more content†¦Arthur Levitt’s top priority throughout his tenure with SEC was, to protect potential investors. Mr. Levitt’s policy was to increase the quality of financial reporting and strengthen the role of the corporate audit committees. Contingent liabilities are often referred as off-balance sheet activities and they are neither recognized as assets or liabilities nor the y are reported on the balance sheet simply because GAAP does not recognize them as such. Enron and many other large companies were successful to keep billions of dollars of debt off-balance sheet (Chandra, et al, 2006). Title 4 section 401, j of SOX’s enhanced financial disclosures required the disclosure of all material off balance sheet transactions, obligations, arrangements and any material current or future that will have an effect on the financial condition (SOX, 2002). Economics and Accounting literature devoted considerable amount of time to analyze the cost-benefit of SOX and found that US firms incur 6.1 billion was spent of manpower, IT and consulting services (CFO, Bergen 2004 and 2005). 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Bush signed into law the Sarbanes-Oxley Act that became effective onRead MoreLge 500 Week 10 Discussion 12 Essay2300 Words   |  10 PagesCauses Please respond to the following: Analyze at least three underlying causes for the creation of the Sarbanes-Oxley Act. Next, rank the causes that you have analyzed from the most important to the least important to the creation of the Act. Explain your rationale. In the later part of 1990s, there was an epidemic of accounting scandals which arose with the disclosure of financials transgressions by trusted corporate executives. 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The American Association Of Public Accountants - 1841 Words

The American Association of Public Accountants, created in 1887, tasked accounting professionals with the responsibility to ascertain, maintain, and evaluate company financial statements for accuracy, fraud, and compliance utilizing current accounting guidelines. Financial frauds, in the twentieth century, however continued to evaded detection due to loose accounting oversight, and a lack of proper internal and external controls (Events that shaped a century, 2005). Since that time, additional acts of legislation, including the Sarbanes-Oxley Act, and the Dodd-Frank Act, became law as efforts made towards combatting fraud. Further, the Public Company Accounting Oversight Board (PCAOB) and Securities Exchange Commission (SEC) Fraud Task Force now exist in an effort to combat, pursue, and prosecute financial fraud crime (Gupta, Weirich, Turner, 2013). Despite these measures, the methods for combatting financial fraud need updates in consideration of the ongoing advances in technology. 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Comm 399 Assignment 2 Free Essays

Comm 399- 204 Question 1: a) The flow unit for the above steps is patients. b) The resources needed for: i) pre-surgery examination and orientation are the blood and urine test equipment, dinner supplies, tea and cookies and a bed. ii) surgery are the anesthetic, operating table, supplies, operating room, a surgeon iii) recovery are a wheel chair, cookies and tea and a bed. We will write a custom essay sample on Comm 399 Assignment 2 or any similar topic only for you Order Now Question 2 a) The weekly throughput rate of the hospital is 120 patients/ week b) The average bed utilization is 450/ 630 = 71% c) | 90| 90| 90| | | | | | | | | | | | | | | | | 60| | | | 60| | | | | | | | | | | | | | | | | | | | | | 30| 30| | | | | | | | | | | | | | | Mond| Tues| Wed| Thurs| Fri| Sat| Sun| Question 3 a) The average bed utilization would be 540/ 630= 86%. b) | 90| 90| 90| 90| | | | | | | | | | | | | | | | | 60| | | | | 60| 60| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Mond| Tues| Wed| Thurs| Fri| Sat| Sun| Question 4 a) Yes more capacity does need to be added to the facility. The bottleneck resource is the available beds and this directly affects the throughput rate. By increasing the number of available beds the hospital can admit more patients and operate on more of them leading to an increased throughput rate. b) My suggestion would be to first add an additional operation room so the throughput rate of operations from doctors could match that of the operating rooms available at 48 per day. Then I would suggest adding additional beds adding up to as many as 54 [ (48-30) *3 ]. This would maximize the number or patients able to be operated on and take care of, reaching the capacity rate for the different stages. How to cite Comm 399 Assignment 2, Papers

Martin Luther King And Mass Media Essay Example For Students

Martin Luther King And Mass Media Essay Martin Luther King, Jr. and the Mass MediaMartin Luther King Jr. was a very significant and influential man. Though his life was cut short at 39 years old, he left a big mark on todays society. From the Prayer Pilgrimage of May 17, 1957, an event and a date that marked Kings entr?e into the field of national Negro leadership to the unforgettable March on Washington. (Bennett 10) King was determined to reach his goal, which was to have blacks and whiter united and treated equally. King was faced with many obstacles, including the press. At first, there was hardly any print about Kings events and protests. When the events did get recognition Kings name wasnt mentioned at all. Not until many years later when the protests sparked violence and death was Kings name mentioned and even then, it was used in negative way. In this paper, I will discuss how the news magazines Time, Newsweek, and the U.S. News went about distorting, neglecting, and eventually praising King and his events. In order to help understand the Civil Rights Movement and it controversy you have to start at the beginning. On the way home from work as a seamstress Mrs. Rosa Parks boarded a Montgomery City Line bus. When asked to give up her seat for a white passenger Rosa Parks refused. The bus driver left his seat and summoned the police. The police officer arrested Rosa Parks for violating the cities segregation ordinances. ( Bennett 59) Rosa Parks arrest sparked a one-day boycott that stretched out to 382 days. That event started the Civil Rights movement and changed the spirit of Martin Luther Kings, Jr. Time magazine was the first of the newsmagazines to pick up the story of the bus boycott. (Lentz 26) Newsweek didnt print the story until five months after it happened. In addition, not until then did Kings name was mentioned by it or Time. Neither King nor the cause grabbed the attention of U.S. News World Report. What they did report was how disturbed the southerners were over the population shift in Montgomery that seemed to be leading to black control. (Lentz 28 ) With the bus boycott in full swing merchants were loosing millions of dollars and white housewives were having to drive their black maids around, whose services they didnt want to loose. With people, complaining the Montgomery government stepped in. While the court was scheduled to hear the city governments petition to stop the bus boycott, the Supreme Court stepped in. A message came down form the Supreme Court striking down the motion that the bus segregation ordinance as unconstitutional. When this was heard a joyful bystander stated God Almighty has spoken from Washington D.C. (Lentz 31) After Kings victory, there was almost nothing in Newsweek and Time. Not until 382 days after the bus boycott began, did Time and Newsweek report on the event. Both ma gazines predicted that the black victory would be accepted by whites. (Lentz 31) This later proved untrue. Snipers fired shots at buses and the homes of black ministers were bombed, as were black churches. Kings first arrest after trying to enter a crowed courtroom where another Negro integration leader was testifying put his face in Newsweek. A photograph showing policeman handling King roughly, appeared in Newsweek. The caption noted Alabama arrests a Negro minister on a loitering charge. (Lucaitis 27) Not even mentioning Kings name. In the late summer of 1962, King decided to launch a series of demonstrations in Birmingham. The demonstrations lead to wide spread violence. White police officers with K-9 dogs invaded the march and arrests were made. King was one of the demonstrators arrested. .uff972c5bf1195bf3a83729d41d4e30b5 , .uff972c5bf1195bf3a83729d41d4e30b5 .postImageUrl , .uff972c5bf1195bf3a83729d41d4e30b5 .centered-text-area { min-height: 80px; position: relative; } .uff972c5bf1195bf3a83729d41d4e30b5 , .uff972c5bf1195bf3a83729d41d4e30b5:hover , .uff972c5bf1195bf3a83729d41d4e30b5:visited , .uff972c5bf1195bf3a83729d41d4e30b5:active { border:0!important; } .uff972c5bf1195bf3a83729d41d4e30b5 .clearfix:after { content: ""; display: table; clear: both; } .uff972c5bf1195bf3a83729d41d4e30b5 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .uff972c5bf1195bf3a83729d41d4e30b5:active , .uff972c5bf1195bf3a83729d41d4e30b5:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .uff972c5bf1195bf3a83729d41d4e30b5 .centered-text-area { width: 100%; position: relative ; } .uff972c5bf1195bf3a83729d41d4e30b5 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .uff972c5bf1195bf3a83729d41d4e30b5 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .uff972c5bf1195bf3a83729d41d4e30b5 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .uff972c5bf1195bf3a83729d41d4e30b5:hover .ctaButton { background-color: #34495E!important; } .uff972c5bf1195bf3a83729d41d4e30b5 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .uff972c5bf1195bf3a83729d41d4e30b5 .uff972c5bf1195bf3a83729d41d4e30b5-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .uff972c5bf1195bf3a83729d41d4e30b5:after { content: ""; display: block; clear: both; } READ: Compassion vs Insensitivity EssayTime, Newsweek, and U.S. News World Report would find themselves forced to write about the events in Birmingham. U.S. News would be forced into the all-together awkward position of having to account for the brutal and open violence black demonstrators, especially children, that the entire world had seen.(Lentz 78) Time and Newsweek would recall the Birmingham campaign as a crusade for freedom. (Lentz 78) When reporting about Birmingham, Newsweek entertained doubts. The journal chose terms, siege, army, generals, and recruiting troops, -that spoke of invasion and military. (Lentz 80) Newsweek also criticized Kings timing of the demonstratio ns. Kings problems were not limited to criticism from Newsweek and Time. Unexpectedly his movement was running out of steam. King and colleges set out on a march in order to force police to arrest them. They were taken into custody and jailed. The headlines of Newsweek and Time were unchanged as King campaign continued. The best example of how the papers chose to ignore King was after one of his many arrests. Following the arrests of King, President Kennedy called Kings wife to express his concern and to tell her that she would be hearing from her husband. Recognizing a good stroke of publicity, King instructed his wife to get word of the telephone call to the SCLC for an announcement to reporters. No mention of the call appeared in Newsweek and Time, which was odd, considering Kennedy was the nations most visible news maker.(Lentz 84) The turning point came when King recruited Birminghams school children, most of them teenagers. He had sent them on marches downtown. Before nightfal l, thousands were jailed. During the marches police officers chose to use billy clubs, police dogs, and fire hoses. More than 250 journalists, from America and many of the nations of Europe and Asia, covered the story.(Lentz 84) Time, for example, described the scene as, police against children, dogs against humans, whites against blacks.(Lentz 87)The U.S. News described King as a sinister and a ruthless leader Helping to mastermind the Birmingham protest and promising to add demonstrations in a city that already had enough violence. Fireman doused the children with high-pressure hoses. Many were sent sprawling across the pavement. There were screams as the water streams hit the people. The crowd surged forward again, and was hit by another blast of water. Police brought dogs, let them lose on long leashes. Officers on motorcycles chased Negros back into the churches and used nightsticks on stragglers.(U.S. News World Report 8) The reports made by Time were masterfully understated. The high-pressure hoses lacked the power, to strip bark from a tree, and there use was justified by the notation and the crowd surged forward twice. Only one policeman used a nightstick and that was merely to just prod stragglers. Dogs were employed but carefully, on long leashes, and dogs and demonstrators did not even meet.(Lentz 86-87) The March on Washington was the one event that united millions of blacks without violence and caught the eye of the world. It was also the place where Kings now famous speech I have a dream? originated. That speech caught the mood of the event. Time and Newsweek reported the March as a rite of national idealism. Kings popularity rose with Time because his oratory was catching, dramatic, inspirational; He became the Civil Rights Leader who holds the heat of most American Negros in his hand.(Lentz 104) Four months after the march Time magazine was the first to print the entirety of Kings I have a dream?speech. U.S. News described King as a false prophet and a dangerous radical who preached the necessity of social disruption, and increasing militancy throughout the nation.(Lentz 118)Time selected King as Man of the Year. Time said King was selected As a man- but also as the representative of his people for whom 1963 was perhaps the most important year in their history.(Bennett 118) King was also honored by receiving the Noble Peace Prize on December 10, 1964. He was the twelfth American and third Negro to win this prize. In conclusion, the victories and failures of Martin Luther King, Jr. were many. In the beginning, Time maga zine had refused to write about King and his demonstrations. Reluctantly writing about his arrests and the Birmingham riots. Newsweek wrote negatively about King and the Birmingham riots. Stating that it was almost military like, and that King had asked for violence by letting teenagers protest. After the Washington March, Time and Newsweek reported the event in a positive mind frame. In the end, Time made King its Man of the Year. The U.S. News had called King Ruthless and Sinister and all throughout Kings career, U.S. News hardly printed anything positive. As you can see King gained popularity, Time and Newsweek gradually showed interest in his message. Their articles helped King gain support from political figures, and citizens with their controversial headlines. Martin Luther King, Jr. was and still is a very important figure in our society today. There is no doubt that Americas mass media helped place King there.