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The Sarbanes-Oxley Act, 2008.
A review of how the Sarbanes-Oxley Act keeps the corporation's audit committees on track so that illegal activity cannot cause the business financial distress.
2,630 words (approx. 10.5 pages), 5 sources, MLA, $ 79.95
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Abstract
The paper states that the Sarbanes-Oxley Act on corporation's audit committees has become more structured. The paper discusses that the audit committees should be composed of individuals who are not compensated for their service on this committee or involved in any other conflict of interest with any entity doing business with the organization, since most nonprofit organizations have volunteer board members. This paper demonstrates the many changes that an audit committee will experience through the Sarbanes Oxley Act in order to be successful.
Outline:
Executive Summary
Introduction
Discussion
Conclusion
From the Paper
"From there, the board and senior management team have been trying to relocate the company into a better position so that the future of the company will be secured. This promising future will be able to support jobs that are available at the present time and create others. "The audit committee, primarily composed of members of the board of directors, plays a critical role in providing oversight over and serving as a check and balance on a company's financial reporting system. The audit committee provides independent review and oversight of a company's financial reporting processes, internal controls and independent auditors. It also acts as a forum separate from management in which auditors and other interested parties can candidly discuss concerns" (Sarbanes-Oxley Act: Audit committee effectiveness = good company management). Along with that, the union has bees trying to characterize the employees in a losing situation due to the fact that it has not a part of the decisions of the senior management team. In the past, they have given up certain benefits to create an atmosphere of give and take; however they have been feeling that they have been taken advantage of by not being included in the current company decisions."
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Information Systems in Accounting, 2008.
This paper explores how information systems are changing the accounting profession.
1,039 words (approx. 4.2 pages), 6 sources, APA, $ 36.95
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Abstract
The paper discusses how updated information systems are reforming the most dominant aspects of the accounting profession, which have increasingly become the processes related to auditing and compliance. The paper explains that the Sarbanes-Oxley Act (SOX) has led to the development of technologies for better management of financial data including service oriented architectures (SOA) and the emergence of business process management (BPM) and business process reengineering (BPR).
Outline:
Executive Summary
The IT Requirements of Governance, Risk and Compliance
The Role of Service Oriented Architectures (SOA)
Business Process Management and Process Re-Engineering
Summary
From the Paper
"The most significant change to occur within the area of how new technologies are influencing accounting is in the area of redefining processes by which financial data is capture, analyzed and reported to both shareholders and the government. The attainment of compliance to the SOX requirements has led to a reengineering of financial reporting processes within all publicly-traded companies in the U.S., and has also led to a more consistent approach to reporting financial results (Gordon, 2006) Compliance to SOX standards requires many organizations to significantly re-define how they capture orders from customers, track them, and input them into their Enterprise Resource Planning (ERP) systems for manufacturing and fulfillment."
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Basel II Banking Supervision, 2008.
This paper deals with the consequences of Basel II regulations for Europe, the United States and some developing countries in the Middle East, especially Egypt.
3,739 words (approx. 15.0 pages), 22 sources, MLA, $ 103.95
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Abstract
The paper discusses Basel II that was published in June, 2004 in order to set international standards for banking regulation. The paper examines the effects of Basel II on Europe and the United States and its effect on some developing countries in the Middle East, Egypt in particular. The paper shows how the Basel II accords bring needed transparency and better risk reporting, but have relatively little effect on the emergence of better banking in developing countries.
Outline:
Introduction
Basel I's creation and evolution
Banking in Egypt Prior to Basel II
Economic Changes in the Developing and Developed World
Comparison of Financial Performance
Convergence and Trade with Money-Center and Developing World Financial Institutions
Basel II Main Tenets
Implementation of Basel II
Focus of Basel II Differs from the Focus on Developing Country Financial Systems
Implications for Egypt and Other Developing Countries
Conclusion
From the Paper
"Basel's committee on banking supervision was established as a response to the changes in world currency in the years leading up to 1974. By that time, the US and Great Britain had decoupled their currencies from gold and silver which had been established in the 1940's, and therefore offered a 'pure' promissory currency. Increases in oil prices in 1974 led to massive transfers of wealth to Middle Eastern nations, and several banks were imperiled by these changes."
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International Finance, 2008.
This paper looks at international finance and discusses national reserves.
1,117 words (approx. 4.5 pages), 4 sources, APA, $ 38.95
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Abstract
In this article, the writer looks at the central bank, which is one of the most important institutions in a country and whose main responsibility is the national monetary policy. The writer notes that many countries can improve the efficiency of their foreign currency reserve by investing the money and generating a return. The writer also points out that, on a global level, the increased efficiency of a central bank's use of reserve would translate into a reduction of financial crises, which would allow institutions such as the International Monetary Fund to redirect its funds to countries that are not yet capable to reach financial stability as well as design policies for those countries targeting their future stability. The writer notes that these are usually third world countries or developing countries with endemic corruption and political instability.
Outline:
The Central Bank - Roles
Reserves Policy - Evidence from Developing Countries
Central Banks and Foreign Currency Reserve Policy Efficiency
From the Paper
"A healthy reserve policy can overcome financial crises, such as those related to the country's balance sheet. Korea stands as a good example in this direction with its 1997 crisis. Investment banks started to borrowed short maturity foreign currencies and invested them in Korean won assets after the market deregulation in 1990. The same banks invested in foreign securities Russian bonds and by the end of 1997 the value of these obligations exceeded Korea's foreign currency reserves. In the context of a general fall of Asian currencies, the investors started to sell the Korean won, which eventually devaluated the national currency and forced the authorities to resort to the International Monetary Fund. The problem was not that Korean wasn't solvent, but that it wasn't liquid and this crisis could have been avoided, if the authorities hadn't let the national liquidity deteriorate so much since the beginning of 1990s."
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Creutzfeldt-Jakob disease (CJD), 2008.
This paper provides an overview of the rare Creutzfeldt-Jakob disease (CJD).
1,870 words (approx. 7.5 pages), 5 sources, APA, $ 59.95
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Abstract
This paper discusses Creutzfeldt-Jakob disease (CJD), also known as spongiform transmissible encephalopathis or infectious amyloidoses, is a dementing disease that results from a prion. Specifically, it describes the definition, occurrence, onset, symptoms and fatal outcome of the disease.This paper asserts that by studying the disease as it manifests in various cases, doctors can become familiar with earlier symptoms and diagnosis, and prepare families in advance. With such preparation, families can obtain closure in advance of the inevitable outcome and reach the closure stage sooner.
From the Paper
"The case study shows that the onset of more commonly psychiatric systems associated with mental illness precludes the early diagnosis of the disease. Instead, warning factors such as neurological symptoms should also be viewed as a warning sign of the disease. This can be particularly helpful in diagnosing familial cases. A known family history of the disease can be helpful in early diagnosis and also in making decisions regarding the care of the patient.
"According to the Memory and Aging Center (2008), many tools are available today that can be helpful in diagnosing the disease more accurately. The MRI for example can accurately detect the abnormalities displayed by the disease and rule out other possibilities such as mental illness. Because of the existing behavioral and movement manifestations of the disease, this tool often requires sedation or general anesthesia in severe cases, as patients are required to be still during the examination process. FLAIR and DWI images are also useful in showing abnormalities that are caused by the disease."
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Oowner's Equity, 2008.
A review of owner's equity, explaining the safeguards an investor should take.
1,062 words (approx. 4.2 pages), 7 sources, MLA, $ 37.95
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Abstract
The paper defines "owner's equity" and explains that the portion in a balance sheet of a corporation relating to the equity of stockholders include the paid-in or contributed capital invested and also the retained earnings. The paper continues and explains the various financial terms in analyzing stockholder's equity and relates the situation of owner's equity.
Outline:
Introduction
Why is it important to keep paid-in-capital separate from earned capital?
As an investor is paid-in or earned capital more important? Why?
As an investor, are basic or diluted earnings per share more important? Why?
From the Paper
"The 'Paid in capital', is often categorised more particularly as 'paid in surplus' 'additional paid in capital' or 'capital surplus'. These are differentiated from 'Retained Earnings' or in terms of its earlier distinction, 'Earned Surplus'. 'Retained Earnings' are differentiated from the 'paid-in-capital' or 'contributed capital', which indicates to the capital obtained in lieu of the stocks, that is often indicated by the 'Capital Stock' or that of 'Capital Surplus' and 'Donatee Stock' or 'Donated Surplus'. The 'Stock Dividends' which is the sharing of extra shares of capital stock having no cash receipt-decrease the 'Retained Earnings' and enhance 'Capital Stock'. The 'Retained Earnings' also known as 'Earned Capital' including the aggregate of all capital accounts appear to be the net worth of a company."
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General Motors v. Audi AG, 2008.
A comparison of the General Motors and Audi AG automobile manufacturers.
1,668 words (approx. 6.7 pages), 9 sources, APA, $ 54.95
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Abstract
The paper provides an overview of the Audi AG and General Motors companies and compares their financial statements. The paper examines both companies' accounting methods and policies, foreign currency transactions, the exchange rates they use and their transaction methods.
Outline:
Company Description
Accounting Methods, Techniques and Principles
Foreign Currency Transactions
Exchange Rates
Transaction Methods
From the Paper
"Audi AG is one of the most renowned automobile manufacturers of the globe. Founded in 1910 by August Horch, the company is based in Ingolstadt, Germany and it is currently a subsidy of the Volkswagen Group. The company has opened operation centers in six countries, including Russia, Hungary and South Korea and it operates with a total of 52,297 employees. The manufacturer is committed to personal growth through the complete satisfaction of all stakeholders. Audi produces luxury automobiles and a series of custom-made products, including cars, and other components, such as engines. The company is currently committed to limiting the negative impact held by automobiles and combustibles upon the surrounding environment. The company's mark of four joint rings symbolizes the union of four major car producers (Audi, DKW, Horch and Wanderer) into what is today known as Audi AG."
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The Sarbanes-Oxley Act (SOX), 2008.
Looks at the background and requirements of the Sarbanes-Oxley act (SOX).
940 words (approx. 3.8 pages), 3 sources, MLA, $ 33.95
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Abstract
This paper discuses the Sarbanes-Oxley Act of 2002 (SOX), which was the result of the huge financial scandals of the 20th century and the early 21st century. The objective of this legislation was to beef up the credibility and the framework of publicly held companies. The author of the paper points out that the eleven titles of the act embrace tough corporate board responsibilities, which can lead to criminal penalties. The paper relates the benefits of SOX to the management of corporations, describes the most important titles and suggests procedures for compliance.
From the Paper
"Title II is "Auditors Independence" and it has nine sections, giving rules for how auditors must be independent of the corporations so that conflicts of interest can be avoided. In fact, Section 201 of Title II tells auditing companies that they cannot do other kinds of business with the corporation, which they are providing auditing services for. This would seem to be an obvious thing that good standing companies would follow without a heavy handed federal law hanging over their heads, but in the age of Enron and WorldCom, it was needed."
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Stock Market Indices, 2008.
An analysis of major American stock exchanges and indices used to gauge market performance.
1,066 words (approx. 4.3 pages), 8 sources, APA, $ 37.95
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Abstract
This paper examines three major American stock exchanges: the New York Stock Exchange, the American Stock Exchange and the Nasdaq. The paper points out that they collectively represent thousands of publicly traded corporations, mutual funds and other entities, all with different trading prices and market capitalizations. To simplify the complex task of identifying performance trends that can affect the markets and the U.S. economy, a series of indices have been designed to guage market performance. The paper holds that the four most commonly cited indices are the Dow Jones Industrial Average, the Standard & Poor's 500, the New York Stock Exchange Composite, and the Nasdaq 100. The paper concludes that, while each index has its relative strengths and weaknesses, together these indices perform a valuable role in helping both the general public and investment experts make sense of the American stock markets.
Outline:
The Dow Jones
S&P 500
NYSE Composite
Nasdaq 100
Conclusion
From the Paper
"The New York Stock Exchange created the NYSE Composite in the mid-1960s and revamped it in 2003 in what it called an attempt to modernize it and make it more transparent (TSC Staff, 2003). This involved removing mutual funds, trusts and derivatives from the index, which pared down its total membership by about 700. NYSE claimed that, under its old composition, the NYSE Composite was double-counting some companies that were also held in these mutual funds and trusts (TSC Staff, 2003). As part of the changes introduced to the NYSE Composite, NYSE also reset its base value from 500 to 5,000. This type of change has been made before, as the index was founded with only a base value of 50. These changes have arguably not diminished the overall value of the NYSE Composite index. Because NYSE trades many of America's oldest and largest blue-chip companies, it remains the flagship exchange for the American stock markets. Because the NYSE Composite provides a way to measure the overall performance of this important exchange, it will remain a critical stock market index."
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Risk Assessment Standards - SAS Changes, 2008.
An analysis of new risk assessment standards in auditing.
3,042 words (approx. 12.2 pages), 10 sources, APA, $ 89.95
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Abstract
This paper analyzes the effect the new risk assessment standards (SAS 104-111) will have on upcoming audits. The paper explains that the standards were put in place by the AICPA Auditing board to enhance audit quality and are to take place for all audits for a period that begins after December 15, 2006. The paper also points out that these standards will affect the way audits are conducted and will place a larger focus on areas considered riskiest and most susceptible to financial statement misstatement. The paper then evaluates why these changes were made, what these changes are, the impact these changes will have on audit firms, audit clients, and all the way audits will change including fees, scheduling and test works. In conclusion, the paper establishes that these standards have a large impact on how audits are conducted and how these standards will try to make audits more efficient and financial misstatements less common.
Table of Contents:
Introduction
Literature Review
Why What and How of SAS 104-111
How to Manage Effects of New Standards
Discussion
Final Comments
From the Paper
"The fall season has often been the slow part of the year for auditors and audit clients with financial statements and tax returns out of the way, but this year has been different mainly due to the implementation of the Risk Assessment Standards SAS 104-111. The main change due to these standards is that companies no longer have to simply gain an understanding of internal controls of significant transaction classes, but now have to evaluate internal controls and create custom programs based on these evaluations to test these significant areas. This has resulted in firms calling clients and telling them that their fees may increase by 30 percent compared to years previous. This has also resulted in more preliminary work on audits being done during the planning phase of the audit. The way audits are completed will likely never be the same because of these standards."
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