Sarbanes

Sarbanes Introduction The Sarbanes-Oxley Act of 2002 was enacted into law in 2002 to respond to the various financial scandals that were taking place in the for-profit corporate sector of the United States. The act was meant to address the abuse of finances and accounting standards by companies such as Adelphia, Enron and WorldCom where the executives of these companies defrauded their shareholders, their employees and the US economy of billions of dollars. Once it was enacted, SOX was meant to introduce major changes to the corporate governance and financial management of capital in many corporations within America. The Sarbanes-Oxley Act or the SOX act of 2002 was developed by Senator Paul Sarbanes and House Representative Michael Oxley and it contains eleven sections which outline the responsibilities of chief executive officers as well as financial controllers in managing the finances of a company (Morgan et al, 2008). Examination of the SOX Act of 2002 Under the Sarbanes-Oxley Act of 200 2, companies that are publicly traded in the US are required to increase their internal financial and accounting controls after personal clarification with the chief executive and chief financial officers of the company. This is meant to strengthen the auditing, accounting and financial practices of the company.Advertising We will write a custom essay sample on Sarbanes-Oxley Act specifically for you for only $16.05 $11/page Learn More The act also requires for-profit corporations in the country to increase their external controls through enhancing the duties and responsibilities of the audit committee. The act also states that chief financial controllers and auditors need to provide supporting evidence that will be used to whistleblow on the abuse of company funds (Morgan et al, 2008). The SOX bill does not apply to privately held companies as many of the laws deal with the management of shareholder, corporate and public funds which are usually common in p ublicly traded companies. The new and enhanced standards within the SOX Act deal with additional responsibilities for the corporate board and chief executive officers of most organizations as well as the introduction of criminal penalties for managers caught defrauding corporations of public funds. Other enhanced standards within the act include auditor independence, enhanced financial disclosures, conflicts of interest and corporate fraud accountability. All these aspects are included within the eleven sections of the act where they analyse the specific mandates and requirements that managers need to have when conducting financial reporting (Kuschnik, 2008). Each of these sub sections are important and necessary in the financial management of publicly traded corporation as they ensure that there is accountability during the management of financial funds. For example auditor independence which falls under the second title deals with limiting the conflicts of interest that arise duri ng audit reporting while corporate fraud accountability which falls under the eleventh title of the act deals with the identification of corporate fraud and the various penalties that are served to deal with fraud. This section also revises the sentencing guidelines that were in existence before to deal with people who defrauded companies of billions of dollars. This review was seen to be important as it would enable the Securities and Exchange Commission (SEC) to temporarily freeze any transactions or payments that were deemed to be unusual for the company (Kuschnik, 2008).Advertising Looking for essay on business corporate law? Let's see if we can help you! Get your first paper with 15% OFF Learn More In general, the act deals with ensuring the financial reports generated by auditors and finance managers within organization to develop internal control reports that can be used to determine the accuracy of the company’s financial data. The adoption of the SOX act is meant to establish a best-practice standard when it comes to the management of corporate funds. The act also changes how corporate management boards and executives interact with each other as well as with their corporate auditors and financial controllers. It also ensures that the top managers of a corporate organization are held accountable for the accuracy of financial statements released at the end of every company financial year (Litvak, 2007). Benefits and Costs of the Sarbanes-Oxley Act According to Bednanrz (2006), the costs of implementing the SOX act will exceed the benefits of the act when it is fully implemented. A survey conducted on the compliance costs of the act in various publicly traded corporations within the US revealed that the first year compliance costs would exceed $4.6 million dollars. This figure applied to all the large multinational and domestic companies in the US. Medium sized companies and smaller companies operating within the US were l ikely to incur significant additional costs that were projected to amount to $2 million during the first-year compliance with the SOX guidelines. These huge costs incurred during the first year would make it difficult to determine whether the Sarbanes-Oxley Act was actually working in managing corporate finances and auditing issues (Bernanrz, 2006). With regards to the benefits of the act, various financial analysts and experts noted that the borrowing costs were lower for companies that had improved their internal control measures while corporate transparency had improved within many publicly traded organizations during the first year of compliance. Section 404 of the act ensured that companies had conservative reported earnings where financial reports and statements underwent verification to determine their accuracy before being presented to the various stakeholders of the company. Companies that had strong internal controls were able to experience an increase in their share price s and their financial statements were more reliable (Morgan et al, 2008).Advertising We will write a custom essay sample on Sarbanes-Oxley Act specifically for you for only $16.05 $11/page Learn More Reactions of Company Executives and Changes to Accounting Practices While many legislators have praised the Sarbanes-Oxley act to be effective in dealing with financial fraud within corporations, many business managers have expressed frustration with the act. The Federal Regulation Board has been faced with a lot of complaints about the high costs that are needed to implement the act in major public corporations within the country. Executives from General Electric, Lockheed Martin and Emerson Electric were among those who spoke about the various challenges of complying with the SOX act two years after it was implemented (Bednanrz, 2006). The executives agreed that while it was too soon to determine the benefits of complying with the act, there were considerable costs such as audit fees which were expected to increase by approximately 40% during the first year of compliance. Business managers working for BP saw the duplicate testing of internal controls to dilute the business practices of the organization as they saw it to be a frustrating exercise. They instead preferred to perform a single internal control testing exercise which would enable them to identify and document any financial issues or problems (Bednanrz, 2006). References Bednanrz, A., (2006, May 11). Executives tell regulators Sarbanes-Oxley costs exceed benefits. Retrieved from:Â  https://www.networkworld.com/article/2311689/execs-tell-regulators-sarbanes-oxley-costs-exceed-benefits.html Kuschnik, B., (2008). The Sarbanes-Oxley Act: big brother is watching you or adequate measures of corporate governance regulation. Rutgers Business Law Journal, 64-95 Litvak, K., (2007). The effect of the Sarbanes-Oxley Act on non-US companies cross-listed in the US. Journal of Corporate Fin ance, 13(55), 195-228Advertising Looking for essay on business corporate law? Let's see if we can help you! Get your first paper with 15% OFF Learn More Morgan, D.F., Green, R., Shinn, C.W., Robinson, K.S., (2008). Foundations of public service. New York: M.E. Sharpe Incorporated

Reading Deeply Example

Reading Deeply Example Reading Deeply – Book Report/Review Example Things fall apart Things fall apart Mr. Smith is enthusiast and uncompromising, perceiving the world completely as far as dark and white. Under him, fan like Enoch prosper. The celebration of the earthly things comes, at a time when the egwugwu wander around the towns in disbelief about the alien culture. A portion of the Christian men ask the egwugwu to resign quickly, so that the ladies will be permitted to go to their respective homes. The egwugwu concur. As they are resigning, Enoch brags egotistically that they might not set out to tap a Christian. One of the egwugwu people hits Enoch with a stick; Enoch reveals the secret about him. To reveal a secret about an egwugwu is viewed or perceived as an unpleasant sin (Achebe, 1994). Under Smith, he thinks reason and trade off get inconceivable which portrays the cultural difference between these two cultures. For example, Enochs demonstration is hostile in all faculties. He is attempting to begin a blessed war; when Smith hides or co nceals him in his dignitary, Enoch is disillusioned because he did not like what Smith was doing. He needs blood. His provocative remark comes directly following the egwugwu liberal concession. Despite the fact that the group tries to trade off with the new government and Christian religion, it demonstrates unthinkable. The white man did not respect and appreciate the Igbo ways, and the new religion is alien, narrow minded and deceptive, in that it preaches peace on one side while serving the British government on the other side (Achebe, 1994). This clearly indicates that the two races have significant interests and different perception of life. ReferenceAchebe, C. (1994). Things fall apart. New York, NY: Anchor.

Use Adobe Acrobat (PDF) Files in a Delphi Application

Use Adobe Acrobat (PDF) Files in a Delphi Application Delphi supports the display of Adobe PDF files from within an application. As long as youve got Adobe Reader installed, your PC will automatically have the relevant ActiveX control youll need to create a component you can drop into a Delphi form. Difficulty: Easy Time Required: 5 minutes Heres How: Start Delphi and select Component | Import ActiveX Control...Look for the Acrobat Control for ActiveX (Version x.x) control and click Install.Select the Component palette location into which the selected library will appear. Click Install.Select a package where the new component must be installed or create a new package for the new TPdf control.Click OK.Delphi will ask you whether you want to rebuild the modified/new package. Click Yes.After the package is compiled, Delphi will show you a message saying that the new TPdf component was registered and already available as part of the VCL.Close the package detail window, allowing Delphi to save the changes to it.The component is now available in the ActiveX tab (if you didnt change this setting in step 4).Drop the TPdf component onto a form and then select it.Using the object inspector, set the src property to the name of an existing PDF file on your system. Now all you have to do is resize the component and read the PDF file from your Delphi application. Tips: The Adobe ActiveX control installs automatically when you install Adobe Reader.  Step 11 can be completed during runtime, so you can open and close files programmatically as well as resize the control.

The Little Mermaid Essay Example | Topics and Well Written Essays - 1250 words

The Little Mermaid - Essay Example The plot might be conventional but still relatable. At the time of its release, target audience majorly consisted of children. The film adhered to the values of the patriarchal society we live in as it advocated that triumphant women are those who direct their men. They serve as the object of desire; this also reflected the cultural norms of the epoch when this tale was written. The Little Mermaid sacrifices her legs for a pair of legs to marry the man of her dreams, this holds true for women in the so-called modern age (Stoll 16). The only difference is that in reality, plastic surgery assists them in accomplishing this goal rather than magical spells. It should be noted down how Disney films modify their narrative style and content in consideration of the changes in the target audience. A consistent pattern emerges from their earlier films such as Snow White (1937), Cinderella (1950), Sleeping Beauty (1958) etc. This pattern depicts that heroines spent their entire life waiting to be rescued by prince charming, who ultimately showed up. Through a series of such animations, it is emphasised how only a man is the road of happiness for a woman (Stoll 33). This is in conformance with the patriarchal values of those ages. However, Arial emerges as slightly dissimilar and more defiant character than her earlier friends. In the film, she rebels against her father’s orders and falls in love with a human, which was against the norms of the Mer society. She also exhibits wit when she sighs, â€Å"I just don’t see how a world that makes such wonderful things can be bad.† Like all heroes, the prince charming possesses endearing qualities; his affectionate nature is portrayed by the closeness with his dog. Therefore, Prince Eric is the stereotypical prince... It should be noted down how Disney films modify their narrative style and content in consideration of the changes in the target audience. A consistent pattern emerges from their earlier films such as Snow White, Cinderella, Sleeping Beauty etc. This pattern depicts that heroines spent their entire life waiting to be rescued by prince charming, who ultimately showed up. Through a series of such animations, it is emphasized how only a man is the road of happiness for a woman (Stoll 33). This is in conformance with the patriarchal values of those ages. However, Arial emerges as slightly dissimilar and more defiant character than her earlier friends. In the film, she rebels against her father’s orders and falls in love with a human, which was against the norms of the Mer society. She also exhibits wit when she sighs, â€Å"I just don’t see how the world that makes such wonderful things can be bad.† Like all heroes, the prince charming possesses endearing qualities; h is affectionate nature is portrayed by the closeness with his dog. Therefore, Prince Eric is the stereotypical prince charming. The opening scene of the film revolves around the male world as the introductory scene starts with Eric’s boat and not surprisingly, everybody on the boat is a male. Then, Arial is enlightened with the requirements and characteristics of the ground people. As credits start appearing, we are taken to the sea and again all males! Thereby, the purpose and focus of the film are made explicit that males have a dominant part to play in this world.

Why is it important to pay attention in class Essay

Why is it important to pay attention in class - Essay Example Hence, instructors have a basic part in keeping learners on learning track (Driscoll 23). Regard less of the particular models of listening conduct that exist, most concur that listening or attention includes sensing, going to, deciphering, recollecting, and respond ­ing to boosts (the sights and sounds we listen to). Paying attention in classroom incorporates many things. Sensing alludes to our five faculties and the sum of the data audience members can pick up from them. The faculties of listening to and sight are most applicable to the present dialog of tuning in. When learners completely listen to anything, they first sense it by listening to it, seeing it, or both. In the classroom, there are various things learners can sense: the lawnmower outside, the two understudies talking and snickering in the back, the magnetic understudy in the following seat over, the person with the uproarious hack, and possibly the instructor. Add to the greater part of this tactile data any mental preoccupations: an alternate class in which a person may be battling, issues with money r elated help, nervousness about an approaching discourse, whats continuing throughout the weekend, issues with a beau or sweetheart, issues at work, issues with a flat mate or with family at home (Driscoll 41). Given this plenitude of accessible tangible jolts, it is clear that educators are not ensured their scholars consideration. Learners may have the capacity to sense every ­ thing, however they cant keep their concentrate on everything and thusly they must be particular in their consideration. Something must be yielded, and unless instructors are receptive to their understudies listening conduct it may be the instructors message that is disregarded. Educators ought to be mindful that consideration regarding classroom messages requires exertion and that consideration compasses are short when contrasted with the regular length of a lecture. Paying attention in classroom helps students to

The Ruth Moore Act Research Paper Example | Topics and Well Written Essays - 2250 words

The Ruth Moore Act - Research Paper Example The bill christened the Ruth Moore Act 2013 or H.R 671 was introduced by Representative Chellie Pingree of Maine and Senator Jon Tester ( D-MT) on February 13, 2013. Following the amendment, the bill H.R 671, would require the Department of Veterans Affairs (VA) to submit a report every year to the congress on the disability benefits claims given for people who are covered under the mental health conditions following allegations of incurred or aggravated by military sexual trauma for the time ranging from 2014 to 2918. The amendment will transform sense to the Congress as to the Veterans Affairs needs to update and improve the rules pertaining to the military sexual trauma (Otto, 2013). It would also require specific reporting to the Congress as well as to the Veteran claimants every month, the first of such coming fifteen months after the date of enactment of the bill following the amendment. The duration of reporting would be as long as the secretary makes the necessary updates, wh ich will improve the veteran’s affairs regulations with regard to military sexual trauma. H.R 671, as amended, extends the prevailing authority of two rounds down to the nearest dollar percentile increment in the rates of particular assistance relating to educational benefits that changes depending on the annual cost-of-living regulations and adjustments. Operational Definition of Terms Military sexual trauma; the term is used on a military veteran, regarding psychological trauma that is following the judgement of a mental health expert, was brought by a physical or mental assault of sexual type, a series of sexual nature, and sexual harassment that occurred to the victim when in active naval, military, and the air force. Covered mental health condition; This refers to the post-traumatic stress disorder, depression, anxiety, and or a mental health diagnosis explained in the modern version of the Diagnostic and Statistical Manual of Mental Disorders which is a journal publishe d by the American Psychiatric Association and determined by the Secretary as regards the military sexual trauma (Ruth Moore, Act of 2013). Covered claims; These are claims seeking for disability compensation submitted to the Secretary following a process of covered mental health condition where the survivor claims to have incurred the disability while on duty and aggravated by military sexual trauma. Ruth Moore- The brainchild Ruth Moore is a former navy officer who joined the disciplined forces in the mid nineteen eighties at the age of eighteen. Having come from a humble background and a family whose financial strength was meagre, she never made it to college. Ruth Moore was sexually assaulted by her immediate supervisor while stationed in the Azores. Things got worse when she reported the matter because, the officer raped her once more as a way of retaliating towards her efforts to get justice. Surprisingly, no charges were brought towards the supervisor instead, the administrato rs discharged her from hospital claiming that she was mentally unwell. It took twenty-three years for Moore to fight for her disability benefits. All through that period, Ruth Moore suffered from a sexually transmitted infectious disease caught from the supervisor. She also went through a depression from what she went through and finally lived in her van. However, in two thousand and nine, a veteran Affairs investigator got a glimpse of her medical records and after perusal discovered that the records had been tampered with by both medical and military officers. The veteran affairs officer went to help her win a seventy percent rating on the disability scale consequently

Retailer Relationships Research Paper Example | Topics and Well Written Essays - 1250 words

Retailer Relationships - Research Paper Example The British American Tobacco is a leading retailer within the region. They have established retailers to help ensure that their consumers can access their products in an effective way. The retailers ensure that the supply of goods is reliable, and therefore this enables consumers to buy what they need, wherever they are and whenever the need arises at quality prices. Proper relations between the retailer and consumer ensure that one pays reasonable prices for the commodities they buy (Newman & Cullen, 2002). The British American Tobacco targets a certain range of consumers in the market, and therefore to make it to their target goals, there are ways of marketing their products. They create adverts or conduct consumer awareness campaigns to help the consumer understand what goods are in the market and thus choose the best suitable for their needs. These retailers take into consideration the need to maintain their environments clean and the need to release user-friendly products in the market. Therefore, they usually pack their products in environment friendly packages, and in case of dangerous emissions, they treat them before releasing to the human environment. To ensure that the youth do not smoke, they have put restrictions to the sellers and suppliers on who the products should be sold to. Their commodities are under restriction for individuals below the age of 19. To ensure that sellers stick by the policy, they put adverts in televisions, signboards, and even campaigns against underage smoking. The BAT Company want to ensure that they fill every gap in the market; they even conduct research to identify whether they serve the needs of their customers. This helps access the type of services provided. They compare their products to those of their competitors, and therefore strive to improve the quality of goods offered. The quality may vary due to the distribution of their commodities; failure to engage customer opinions in their activities or even the overal l quality of products may be poor (Jones et al, 2002). However, research conducted recently showed that the British American Tobacco is one among the best retailer marketing institutions. Competitors have released substitute products to the markets that are of low quality and that cause more harm to the human body. The British American tobacco should put all the necessary efforts to ensure that consumers have the knowledge on the need to consume legitimate products. These contrabands only aim at making profits and do not care about consumer safety (Madaan, 2009). Since these illicit products cannot be altogether kicked out of the market, they need to establish their authentication to at least ensure that consumers are not at serious risks. With the changing times, British American Tobacco has managed to enhance its supply in different continents. Through this, it is easier to achieve growth because access to new markets increases sales, and later on, increasing the profits attained. With more branches, it is more likely to expand the company’s profile, and therefore this even creates more jobs for people all over the world, and more suppliers enabling distribution of commodities are able to earn themselves incomes and enhance interactions between consumers and retailers at grass roots level. Diversity in markets explored increases connections, but this is only possible using effective managerial personnel and creating