Ethics and Financial Reporting - 2997 Words

Ethics and Financial Reporting AMBA 630 Executive Summary Reacting to a flood of accounting scandals and media outcry, the U.S. Congress passed the Sarbanes-Oxley Act (SOX) in July 2002. It is administered by the Securities and Exchange Commission (SEC). It sought to prevent future cases such as the one witnessed with Madoff Investment Securities, by improving the accuracy of public company financial statements. An important goal of SOX is to make these financials more meaningful (i.e., transparent) to their intended readers. . It sets guidelines for the corporate board of directors, CEOs and CFOs, audit committees, internal audit function and internal control system. . . Boards of directors are now expected to take a†¦show more content†¦Audit committees incorporating SOX principles have spent a lot of time on SOX compliance issues, while sometimes neglecting strategy concerns. However, once past the learning curve, they started focusing more on increasing business value (p. 1). They are paying more attention to effective accounting principles and risk, since they have to help restore confidence in corporations (p. 1). They need to make sure financial projections are sound and accurate based on earnings and income estimates, before the information is released to the public. They should also assist management mitigate financial risks, as their responsibility is to understand and sign off on management’s approach (p. 2). Ever since SOX, restatements have increased (from 50 to 3000 from 2005 to 2007; increasing costs and driving declines in stock prices) and audit committees have needed independent auditors more often to be compliant (p. 3). These issues need to be resolved once and for all by focusing on the committee’s composition (a member of the board of directors of the issuer and independent should be privileged as per section 301 of SOX provisions). They should also include financial experts that will help decipher financial statements in which the audit committee will relay to the board, as well as assess competition’s performances (p. 3). 3. The CEO’s and CFO’s of public companies The SOX Act put CEOs under the spotlight and putShow MoreRelatedEthics and Financial Reporting3003 Words   |  13 PagesEthics and Financial Reporting AMBA 630 Executive Summary Reacting to a flood of accounting scandals and media outcry, the U.S. Congress passed the Sarbanes-Oxley Act (SOX) in July 2002. It is administered by the Securities and Exchange Commission (SEC). It sought to prevent future cases such as the one witnessed with Madoff Investment Securities, by improving the accuracy of public company financial statements. An important goal of SOX is to make these financials more meaningful (i.e., transparent)Read MoreEthics And Financial Reporting Decisions948 Words   |  4 PagesAbstract. The article reviewed was The Impact of CFOs’ Incentives and Earnings Management Ethics on their Financial Reporting Decisions: The Mediating Role of Moral Disengagement. The key of the abstract is demonstrate how CFO’s personal incentives, interests of stakeholders, and regulatory reforms influence on earnings management ethics (p. 505). The authors focus on the role of CFO’s optional accruals through the presence and absence of incenti ve conflict. Introduction. The authors studied theRead MoreHealth Care Financial Management: Reporting Practices and Ethics1372 Words   |  6 PagesHealth Care Financial Management: Reporting Practices and Ethics Marvin Dumlao HCS/405 April 6, 2010 Lisa Sanders Health Care Financial Management: Reporting Practices and Ethics Whether operating as for-profit or non-profit, organizations must pay close attention to accounting practices and adhere to sound financial management procedures to remain solvent. This applies to health care organizations as wellRead MoreThe Code Of Ethics And Systematic Ethics985 Words   |  4 Pagesarticle reviewed was The Impact of Ethical Tools on Aggressiveness in Financial Reporting. The key of the abstract is to demonstrate the differences in financial reporting between the International Financial Reporting Standards (IFRS) and U.S. Standards (p.477). More in depth the research focuses on the code of ethics and moral duties of company top management. Introduction. The authors study the financial scandals and the recent financial crisis to demonstrate the gap between market processes and accountingRead MoreFinancial Reporting Between The International Financial Index Standards ( Ifrs ) And U.s. Standards890 Words   |  4 PagesMany studies demonstrate the differences in financial reporting between the International Financial Reporting Standards (IFRS) and U.S. Standards. Nagle, Wasieleski, and Rau (2012) in their research focused on the code of ethics and moral duties of the company top management. The researchers studied the financial scandals and the recent financial crisis to demonstrate the gap between the market processes and accounting standards. The IFRS and U.S. GAAP differ in a contrary nature of accounting standardsRead MoreEthical Financial Reporting And Disclosure Quality893 Words   |  4 PagesArticle #8 Abstract. The article reviewed was Director Overlap, Ethical Financial Reporting, and Improvements in Disclosure Quality. The key of the abstract is to emphasize the positive influence of independent audit committee on the ethical financial reporting, corporate disclosure, and company ethical environment overall (p. 183). Introduction. The author studies the relationships between the director overlap and financial reporting quality, and for that purpose, analyzes the compensation measurementRead MoreRole Of The Board Of Directors And Chief Executive Officer1592 Words   |  7 PagesQuality Presented by: Niambi Walker Acc573-Financial Reporting and Analysis To: Professor Brandy Havens Strayer University August 16th 2015 Assess the roles of the Board of Directors and Chief Executive Officer of a public company for establishing an ethical environment that generates quality accounting and reliable financial reporting for use by shareholders and investors. Provide support for your assessment A code of ethics and ethical values are key elements of the internal controlRead MoreEssay Ethics Article Review886 Words   |  4 PagesEthics Article Review Ethics Article Review The topic of ethics usually revolves around business practices. Included in these businesses practices are accounting and financial decision-making. Both of these require high standards of ethics as many people rely on the information produced by them. The lack of ethics results in misinformation and the lack of trust. This paper will first provide a brief summary of an article that discusses ethics in accounting and financial decision-makingRead MoreThe Effect Of Professional Ethics788 Words   |  4 PagesThe Effect of Professional Ethics in U.S. Accounting Businesses, investors, creditors rely on accounting ethics. The accounting profession requires honesty, consistency with industry standards, and compliance with laws and regulations. The ethics increase the responsibility and integrity of accounting professionals, and public trust. Ethical requirements influence the management behavior and decision-making. The financial scandal of Enron and Arthur Anderson demonstrates the failure of fundamentalRead MoreExploring The Earnings Management Techniques, Materiality Concept, And Ethical Judgments817 Words   |  4 PagesPerceptions on Fraudulent Reporting by Financial Executives. The abstract demonstrates how the materially affects a code of ethics and follows with financial risks and fraudulent activities (p. 243). Introduction. The author studies the financial reporting, earnings management, and relationships with stakeholders. Over the years, Securities and Exchange Commission (SEC) and Public Company Accounting Oversight Board (PCAOB) raised concerns on the reliability of financial reporting and fairness of earnings

Essay on Chinese Culture vs. Western and American Culture

Chinese Culture vs. Western and American Culture There are many different aspects on Ancient Chinese culture that differ from Western and American culture. Many things such as education, marriage, and community type can be different from what we have in our Western civilization. Although Chinese culture has evolved through many, many years some ancient traditions still uphold. There are a wide variety of differences between the Chinese and Western cultures forms of art and literature. One example of this is the importance of architecture in China. While the Chinese build large and extravagant buildings, the history of the architecture and the buildings themselves are relatively unimportant to them. There is hard to find any ancient†¦show more content†¦This is because most things are done electronically in western culture. Neat handwriting is nearly an unnecessary trait because so much is now typed instead of handwritten. Poetry even in its truest form in the western culture s is all typed and published into informal books or online. The Chinese culture would greatly frown upon this. The Chinese view it as an art of its own. It’s so important to them in fact that poets and writers are distinct by their handwriting and calligraphy abilities. â€Å"There is hardly anyone is Europe so well informed or so perceptive that he can say for certain whether a given specimen of writing is, or clearly is not, by, say Chao Meng-fu or Tung Ch’i Ch’ang and done with his own hand† (Speiser 18).He goes on by saying, â€Å"Calligraphy is one great category of art that remains almost a closed book for the US† (Speiser 18). The difference is likely due to language and written language differences. While the words on a page in Western cultures have very little symbolism, and are just letters in coordination with an object or idea; Chinese written language is based on full words and objects and ideas. In Chinese culture there is no combinat ion of letters, there is only elegant symbols that are written out to portray meaning or represent an object. This gives the Chinese an advantage in their artistic freedom on how they wish to write something, that Western cultures do not have. ChineseShow MoreRelatedDifferences Cultural in Chinese Food and Western Food1648 Words   |  7 PagesÃ¥ ¯ ¸ The Cultural Differences between Chinese and Western Food Cheng Hoi Man Upper Iowa University Term 4 2012 – 2013 COMM 221(DT) – Intercultural Communication Ms. Jamie Ku 9th June 2013 The Cultural Differences between Chinese and Western Food Abstract Food is one of the most enjoyable aspects of cultures to share. Every place has its own culinary delights to discover. Food culture can reflect the indication of human social development and improvement. In this paper, food ideas andRead MoreThe Himalayas As A Barrier For The World898 Words   |  4 Pagesthousand years, separating civilized development in China from the rest of the world. (China kept much to herself until about two hundred years ago. Then the British, using gunpowder invented by the Chinese, forced the door to China wide open to the West, starting the most humiliating chapter in Chinese history). Developments in China and the West progressed at a similar pace, despite their engaging in little intellectual communications. Great thinkers emerged in both parts of the world about 2500Read MoreThe Himalayas As A Barrier For The World909 Words   |  4 Pagesthousand years, separating civilized development in China from the rest of the world. (China kept much to herself until about two hundred years ago. Then the British, using gunpowder invented by the Chinese, forced the door to China wide open to the West, starting the most humiliating chapter in Chinese history and the interactions with the rest of the world). Developments in China and the West progressed at a similar pace, despite their engaging in little intellectual communications. Great thinkersRead MoreComparative And Normative Function As A Standard Of Behavior1617 Words   |  7 Pagesto converge. This experiment demonstrates how people will look towards others for guidance in ambiguous situations. Furthermore, the perceived consensus subsequently became internalized. Zou et al apply this understanding of perceived consensus to culture by arguing that perceptions of knowledge construct what we colloquially refer to as â€Å"common sense†. Communications research also guide Zou et al’s paradigm of perceived consensus by arguing how in-group discourse biases shared knowledge. As citedRead MoreThe Consumer Perception Of Consumer Behavior Essay1392 Words   |  6 Pagesthe many different types of consumers and how they behave around the world. The consumer perception process, the ATO model, emotions, values, and lifestyles are some of the topics that the textbook does not include the different in eastern vs. western cultures and how it affects these topics. The Consumer Perception Process is the process that a customer selects, organizes, and interprets information to create an of a company or product. There are three â€Å"stages† a consumer goes through when theyRead MoreSocially Gifted Consideration Incorporates Learning901 Words   |  4 PagesSocially gifted consideration incorporates learning, methodologies, and abilities that help looking after individuals crosswise over distinctive dialects and cultures.1 Culture impacts wellbeing practices as well as how the medicinal services supplier and the patient recognize sickness. Learning is continuously insightful of the society base of those in your administration zone, for example, the imparted conventions and estimations of that gathering. Being mindful of your patients experience basicRead MoreStereotypes in M. Butterfly Essay1558 Words   |  7 Pagesinspired by a 1986 newspaper story about a former French diplomat and a Chinese opera singer, who turns out to be a spy a nd a man. Hwang used the newspaper story and deconstructed it into Madame Butterfly to help breakdown the stereotypes that are present between the East and the West. Hwang’s play overall breaks down the sexist and racist clichà ©s that the East-West have against each other that reaffirm the Western male culture ideas. The stereotypes presented in the play revolve around the two mainRead MoreThe Effect of Shopping Experience on Cross Cultural Receptiveness in China1103 Words   |  5 PagesEffect of shopping experience On cross-cultural receptiveness in Chinese School of Business, Sun-Yat Sen University, Guangzhou Introduction Nowadays under the trend of globalization, like every other aspect in marketing changed in our life, more and more products are added some cross-culture mixing elements. For example, more Chinese movie have western actors and more Hollywood film conclude traditional Chinese like Panda or feature spots (C. Samuel Craig William H. Greene SusanRead MoreA Portrait Of A Rebellious, Independent Mulan1744 Words   |  7 PagesTo construct a portrait of a rebellious, independent Mulan, two characteristics that are preferred by Western audiences, Disney chooses to keep only a few of the functions from the source tale. In order to set the stage for her climatic moment of redemption, Mulan must have a villain to struggle against. She is not just in a war, but is locked in a battle with the leader of the opposing army, Shan-Yu, almost singlehandedly saving the emperor. She defeats not only Shan-Yu but the gender restrictionsRead MoreStereotyping And Ethnocentrism1184 Words   |  5 Pageswides pread generalization. They are formed from second hand information from close community member that use outdated information or are not an expert with that particular culture/community. Stereotypes are usually formed in situations when a person would suffer from information overload and in some cases, can accurately capture cultures or even celebrated within them (Neuliep, 2017, 191). Ethnocentrism takes this idea one step further. It is when one will view a particular people through their first

Gardenia Marketing Plan - 7095 Words

TABLE OF CONTENTS Pages Executive Summary 5 Company Introduction 5 Gardenia’s Mission Statement 6 Marketing Objectives 6 Qualitative Objectives 6 Quantitative Objectives 6 Market Overview 7 Market Structure 7 Market Potential 7 Market Size 9 Marco Environment 10 Demographic 10 Economics 10 Socio-cultural 11 Micro Environment 11 Marketing Intermediates 11 Media 11 Competitors 12 FairPrice 12 SunShine 13 Internal SWOT Analysis 14 Gardenia 14 Strengths 15 Weaknesses†¦show more content†¦There are 79 vending machines located at residential areas and school in Singapore currently.† Gardenia is still having a very healthy reserve revenue of SG$19.5millions for the financial year 2009 compared to SG$15.4 million in 2008. This allowed Gardenia to continue operating with stability in the bakery market Gardenia’s Mission Statement QAF is the parent company of Gardenia and its mission is to be the leading importer and distributor of a wide range of international food brands. We are committed to enhancing shareholder value by strengthening our market position, expanding our operations and distribution networks, providing consumers with quality healthy food options, and developing strategic core businesses. Marketing Objectives Our group’s goal is to make wholemeal bread become a staple food by turning it from a want into a need by consumers. Therefore the company plans to, Qualitative Objectives Encourage young adults to not skip breakfast and that having a nutritious breakfast improves their well-being. Choosing our wholemeal bread gives them extra perks. Instill deeper brand recognition in such that consumers are subconsciously aware of our brand when using our product. Quantitative Objectives Convert non-wholemeal bread consumers, specifically white bread consumers to wholemeal bread consumers with a 20% increase inShow MoreRelatedGardenia Bakeries Case Study1177 Words   |  5 Pagesreport This is a strategic marketing plan for Gardenia Bakeries (KL) Sdn Bhd to sell their product â€Å"Auntie Rosie’s Natural Pandan Kaya† to the country â€Å"Australia† in the state of â€Å"Sydney†. 2.0 Overview of Gardenia Bakeries Sdn Bhd 2.1 General Information of Gardenia Bakeries (KL) Sdn Bhd In 1969, an American named Horatio Sye Slocumm was sent by International Executive Service Corporation (IESC) to East Malaysia to start a bakery. Gardenia was then born. Gardenia Bakeries (KL) Sdn Bhd rolledRead MoreMarketing and Gardenia3892 Words   |  16 PagesCHAPTER 2: ANALYSIS OF MARKETING MIX STRATEGIES (4 P’s) 2.1 Product Strategy Product Classification The Gardenia main product is the Gardenia Sandwich Bread which contains high protein flour and enriched with essential vitamins such as Vitamin A, B1, B2, B3, C and various minerals. It is zero Transat and cholesterol free white bread. The Gardenia Bread is classified as consumer products under product classification since the breads are product that bought by ultimate consumers for personal consumptionRead MoreFinancial Projections And Its Impact On Business1489 Words   |  6 Pagespromote women’s health. Gardenia Blossom will be sold in China in the city of Shanghai for the launch of their skin care products. Shanghai is the most populated city in China located on the eastern part of China on the water. It is the most expensive city in China to live in and is referred to as the â€Å"showpiece of the booming economy of China† because of its beautiful skyline of skyscrapers, historic buildings and museums. This area of China is very attractive for Gardenia Blossom’s target marketRead MoreNature of Business of Kfc2393 Words   |  10 PagesGROUP ASSIGNMENT amp; EXERCISE QUESTIONS PRINCIPLES OF MARKETING amp; INTRODUCTION TO MARKETING SEPTEMBER 2012SEMESTER Week 1 - overview | 1. Discussion on Course Plan 2. Forming a group: Principles of Marketing (3-4 in a group) Introduction to Marketing (4-5 in a group) Week 2 - Topic 1: Foundations of Marketing | Instructions: Read Harley Davidson case Discussion questions Few brands engender such intense loyalty as that found in the hearts of Harley-DavidsonRead MoreCashew Bread: a Feasibility Study6936 Words   |  28 Pagesdistribution of the finished product, Cashew Bread, will be exclusively circulated throughout the city. Only people ages 20 and above are being considered as the target market of the researchers. CHAPTER 2 Management Aspect It is always necessary to have a plan before any endeavour no matter how simple the undertaking is. This chapter includes the basic consideration concerning the organization of the feasibility study. It includes the form of ownership, personnel qualifications and responsibilities, organizationRead MoreInternational Marketing Swot Analysis8581 Words   |  35 Pages1.0 Executive Summary The main objectives of this marketing plan is to evaluate the possibilities for May Soap to enter into the new market- Philippine. There are three possible market entry strategies, which are indirect exporting, direct exporting and joint venture. Direct exporting is more favourable as it provides greater control and this is important for expanding the business in future. Most-Likely, for Lam Soon to enter into a new market like Philippine, may incur loss of around RM 25,000Read MoreMarketing Report for LOreal6541 Words   |  27 PagesLancà ´me Paris, Garnier, Mabelline, Softsheen Carson, Matrix, and Biotherm. LOreal invests heavily into its research and development which gives them competitive advantage over its competitors. We as a group are going to produce a strategic marketing plan for LOreal. PART 1A PEST Analysis for LOreal Political Factors Ââ€" The political challenge is that LOreal should conform to all the different government leadership styles in various countries it operates within. LOreal faced a declineRead MoreMarketing Mix8932 Words   |  36 PagesMarketing Mix Decisions IE 153—WSWX Marketing Mix The term â€Å"marketing mix† became popularized after Neil H. Borden published his 1964 article, â€Å"The Concept of the Marketing Mix†. Borden began using the term in his teaching in the late 1940’s after James Culliton had described the marketing manager as a â€Å"mixer of ingredients†. The ingredients in Borden’s marketing mix included product The Marketing Mix planning, pricing, branding, distribution channels, personal selling, Source: http://wwwRead MoreMarketing Mix8923 Words   |  36 PagesMarketing Mix Decisions IE 153—WSWX Marketing Mix The term â€Å"marketing mix† became popularized after Neil H. Borden published his 1964 article, â€Å"The Concept of the Marketing Mix†. Borden began using the term in his teaching in the late 1940’s after James Culliton had described the marketing manager as a â€Å"mixer of ingredients†. The ingredients in Borden’s marketing mix included product The Marketing Mix planning, pricing, branding, distribution channels, personal selling, Source: http://www.quickmbaRead MoreItc Ltd. a Full Case Study10991 Words   |  44 Pages This transformational strategy, which has already become the subject matter of a case study at  Harvard Business School, is expected to progressively create for ITC a huge rural distribution infrastructure, significantly enhancing the Companys marketing reach. The company places computers with Internet access in rural farming villages; the e-Choupals serve as both a social gathering place for exchange of information (choupal means gathering place in Hindi) and an e-commerce hub. What began as an

British Monarch Essay Research Paper On July free essay sample

British Monarch Essay, Research Paper On July 2, 1776, in Philadelphia, the Continental Congress adopted the declaration, introduced by Richard Henry Lee and John Adams, which really declared independency from Great Britain. The Declaration, which explained why the Colonies ( now States ) declared their independency, was adopted by the Continental Congress July 4, 1776. The taking draughtsman was Thomas Jefferson, assisted by John Adams, Benjamin Franklin, Robert R. Livingston, and Roger Sherman. Does the Declaration of Independence say that all work forces are created equal? The Declaration of Independence provinces as follows ; We hold these truths to be axiomatic, that all work forces are created equal, that they are endowed by their Godhead with certain inalienable Rights, that among these are Life, Liberty and the chase of Happiness ( Pg.1 ) . To first reply the inquiry you have to recognize that, the definition of adult male was used really different so how the word is used today. During the clip of the Declaration adult male was described as a White male landholder, Blacks were non considered work forces ; they were considered belongings to their proprietors. We will write a custom essay sample on British Monarch Essay Research Paper On July or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Womans besides were non considered to hold much importance during this clip, history shows that they could non even vote. Therefore the word adult male as in the text is really limited to merely one certain group that made up the settlements. So harmonizing to the Second Continental Congress, which was made up of all White male landholders, all work forces are created equal. Did the authors of the Declaration say that democracy was the best signifier of authorities for the state they were declaring independent? Although the Declaration does non precisely province that Democracy is the best signifier of gover nment, it does read, Governments are instituted among Men, deducing their merely powers from the consent of the governed. That whenever any Form of Government becomes destructive of these terminals, it is the Right of the People to change or to get rid of it, and to establish new Government, puting its foundation on such rules and forming its powers in such signifier, as to them shall look most likely to consequence their Safety and Happiness ( Pg1 ) . This suggests that something had to be changed from the monarchy regulation that the people of the Thirteen settlements had lived under. The authors of the Declaration merely wanted a Government of the people for the people, which finally can be defined as a democracy. Was there any difference between the relationship that the British Monarch had with the American Legislatures and that he had with the Legislature in Britain? Yes, the relationship of British Monarch was wholly different with American Legislatures than that of his ain people. The ground behind the difference of dealingss was merely distance. As the settlements developed and coevalss pasted, the connexion with Britain easy deteriorated. It is because, he has called together Legislative Bodies at topographic points unusual, uncomfortable, and distant from the Depository of their public records, for the exclusive intent of tiring them into Conformity with his Measures, that America wrote the Declaration to be rid of the foreign encroacher. Was George the 3rd truly a autocrat? Yes King George was a autocrat, he had no apprehension of the manner of life in the settlements yet he still as stated in the Declaration refused his Assent to Laws, the most wholesome and necessary for the public good. The Declaration besides states