Accounting Regulatory Agencies - 1280 Words

ACCOUNTING REGULATORY AGENCIES Introduction Accounting standards are needed so that financial statements will fairly and consistently describe financial performance. Without standards, users of financial statements would need to learn the accounting rules of each company, and comparisons between companies would be difficult. Numerous accounting bodies govern the accounting environment and accommodate the success of a business. The four main financial governing bodies include the following: †¢ Securities and Exchange Commission (SEC) †¢ Financial Accounting Standards Board (FASB) †¢ Governmental Accounting Standards Board (GASB) †¢ International Accounting Standards Board (IASB)†¦show more content†¦While the GASB has jurisdiction over financial reporting by governmental entities, the FASB establishes rules for private sector accounting. Both boards are independent, nongovernmental bodies whose members are appointed by the trustees of the Financial Accounting Foundation (FAF). Before issuin g its standards, the GASB follows the set of â€Å"due process† activities enumerated in its published rules of procedure. Due process is stringent and is designed to permit a thorough and open study of financial accounting and reporting issues by the preparers, auditors, and users of financial reports, in order to encourage broad public participation in the standards setting process. Significant steps in the process are announced publicly. The GASB’s meetings are open to public observation and a public record is maintained. One difference between the two organizations is that the rules of the GASB need not apply to that of FASB. If the GASB had not covered an accounting topic that the FASB had, then the FASB standards would be used by the government entities. This sets up kind of like a default so that there are not so many different rules and possibly double standards. The GASB and the FASB both have the authority to create rules, with the GASB having the abilit yShow MoreRelatedRegulatory Standards Of The Federal Information Systems Management Act911 Words   |  4 Pageswriting assignment I will discuss the following regulatory requirements comprise of the Federal Information Systems Management Act (FISMA), Sarbanes-Oxley Act (SOX), Gramm-Leach-Bliley Act, Payment Card Industry Standards (PCI DSS), Health Insurance Portability and Accountability Act (HIPAA), and Intellectual Property Law. I will also discuss security methods and controls which should be applied to ensure compliance with the standards and regulatory requirements. I will explain the guidelines establishedRead MoreCase Study : Fund Accounting Manager Essay803 Words   |  4 PagesSUMMARY: Fund accounting manager with two decades of hands-on experience in hedge fund, venture capital fund, private equity fund and mutual fund accounting, administration and operations. Full range of accounting and financial experience including: investment accounting, administration, taxation, auditing, and client service management. HIGHLIGHT OF QUALIFICATIONS: †¢ Outstanding experience in hedge fund, venture fund, private equity fund and mutual fund accounting and operations with a solidRead MoreHomework Week 1 Accounting984 Words   |  4 Pages1-2. Identify and describe the five environmental differences between governments and for-profit business enterprises as identified in the Governmental Accounting Standards Boards Why Governmental Accounting and Financial Reporting Is—and Should Be—Different. The five environmental differences include mission/purpose, source of revenue, potential longevity, relationship with stakeholders, and role of budget. The mission/purpose is defined by the goals of the organization. The purpose of aRead MoreQuestions On Accounting And Management Accounting766 Words   |  4 Pages Subject Name: Accounting for Decision Making Course Name: Bachelor of Commerce (Applied) Semester/Year: 01st Semester 2015 Due Date: Monday 23rd March 2015 Student Name: Phuwanat Tharanop ID: 1499002 ASSIGNMENT ONE PART ONE: 15 marks Research Questions Q1: Write a detailed summary that describes and distinguishes in-depth the different roles of financial accounting and management accounting ‘play’ in a professional service organisation. Answer: Financial accounting is the process of summarizingRead MoreThe Public Company Accounting Oversight Board958 Words   |  4 Pagesthe Public Company Accounting Oversight Board (PCAOB) to regulate the audit industry to oversee accounting professionals who provided independent audit reports for publicly traded companies (SEC). Key responsibilities include: registering public accounting firms and establishing audit, quality control, ethics, independence, and other standards relating to public company audits (SEC). Conducting inspections, investigations, and disciplinary proceedings of registered accounting firms, as well as enforcingRead MoreArgumentative Essay1538 Words   |  7 PagesAccounting Regulation: Word Count: 1195 Table of Contents: Page 1.0 Argument in favour of tight accounting regulation: 1.1 Introduction 3 1.2 The agency problem 3 1.3 Comparability of financial statements 3 1.4 Auditing 4 1.5 Auditor’s independence concerns 4 1.6 Credibility of financial reporting 4 1.7 Conclusion 5 2.0 Argument in favour of â€Å"Free market† regulation: Read MoreThe Ethics Of Sarbanes Oxley Act1667 Words   |  7 Pagesto internal control. For an accounting perspective, internal control is a system for internal and external auditors to measure performance and recommend the improvement of the control. It is definitely correct that both enforcement and the system are to address the risks of frauds. In the meantime, a new regulatory agency, the Public Company Accounting Oversight Board (PCAOB) was created to monitor the work of public accountants. Among SOX and the PCAOB, accounting information system (AIS) isRead MoreBusiness Matrix1325 Words   |  6 PagesACCOUNTING TRANSPARENCY Charles Katoroogo Prof Brandy Havens ACC 303 12/1/2013 ACCOUNTING TRANSPARENCY Accounting is mainly concerned with general rules, concepts and principles that are established with the purpose of governing different fields of financial reporting. Accounting principles are also known as accounting principles and guidelines, these acts as the base on which more complex and critical rules are based. The authority responsible for issuing the accounting standards (i.e. financialRead MoreFinancial Reporting Essay1444 Words   |  6 PagesFinancial Reporting Generally accepted accounting principles (GAAP) are uniquely different for each country. Although there has been a push for International Financial Reporting Standards (IFRS) to be the new accounting standards for both domestic and foreign financial statements, local GAAP still remains the current standard for participating countries (CFO, 2008). Regulations regarding an organization’s regulatory environment and issues with foreign currency vary within domestic and foreign companiesRead MoreAccounting Is The Most Boring1478 Words   |  6 PagesAccounting is commonly depicted as the most boring, yet reliable profession possibly offered in the business school. But what if accountants managed to scam millions? How about billions? Accounting is a seemingly innocuous career, but corporations can manipulate their current financial state and become more appealing to investors with some clever help from their accountants. Accountants could embellish financial statements or secure h igher balances for wage expenditures. A typical corporate mistake

The Importance Of Immigrants And Refugees In America

 ¨Give me your tired, your poor, Your huddled masses yearning to breathe free, the wretched refuse of your teeming shore. Send these, the homeless, tempest-tost to me, I lift my lamp beside the golden door! ¨- Emma Lazarus. America is the nation that draws every immigrants attention. Americans have created a country with every type of race, culture, and religion, resulting in a country so unique and diverse. Immigrants and refugees have a huge impact on Americas economics, and while lots of refugees escape persecution, they bring the culture that we call a melting pot. Immigrants come to America every year seeking a new opportunity to get out of their country. Many Americans and government officials think that all they do is take up†¦show more content†¦With this said how can the government try and put up border limits. What if it was one of us trying to come to America, what if you were once one of them trying to come to America. Jamelle Bouise stated in â€Å"When P eople Flee to America shores† that â€Å"The United States is a nation that fears immigrants and refugees as much as it’s a nation of immigrants and refugees.† Some Americans have lived the dream all their life and have not seen what is outside of the country and what other countries are doing to immigrants. What makes America so great is the culture. Immigrants have brought every type of idea from clothing to food to language. Immigrants and refugees are what make America, America. Phillip Connor stated in â€Å"U.S. Resettles Fewer Refugees, Even as Global Number of Displaced People Grows† That â€Å"With the rise of U.S. refugee arrivals from Middle Eastern and African countries, Arabic has become the most spoken language of incoming refugees† (Connor). As many immigrants come to America they bring their language and culture with them, which makes America so unique. Another piece of evidence found in Phillip Connors article was that â€Å"Between fiscal 2011 and 2016, a rising number of refugees have been Muslim, reflecting the increasing number of refugees from Muslim-majority countries admitted to the United States† (Connor). Immigrants come from everywhere and can not bring much with butShow MoreRelatedAmerica s Immigration Regulation Is Very Sophisticated912 Words   |  4 Pagessophisticated. The immigration regulation is provided for under immigration act. This Act has regulated the total number of permanent immigrants coming to the country yearly at 675,000 (Gagne 23). The Congress decided a precise number of refugees, who can be allowed into the country. Immigration in the country is founded upon various principles that include reunion of families, immigrants with valuable skills, economy, refugee protection, and diversification. Family Immigration Family reunification isRead MoreBrianna Sparks. Mr. Zingale, Mr. Lehman. Us History, Language1685 Words   |  7 Pagesthe first amendment of the Constitution, but also other federal laws. However, Trump has good intention, for he wants to protect the welfare and safety of our country. On January 17, 2017, President Trump signed the Executive Order that bans Syrian refugees and the majority of Muslim countries from entering the US for 90 days; those countries are: Syria, Iraq, Iran, Somalia, Yemen, Libya, and Sudan. The Executive Order links a connection to terrorism, particularly to the attack on September 11, 2001Read MoreIllegal Immigrants In America Have Contributed Massively1352 Words   |  6 PagesIllegal immigrants in America have contributed massively to the Economy and researchers have facts and evidence to back up their finding. For the most part many people are not educated enough about the concept illegal immigrants or don’t bother to look for the fact about illegal immigrants. Their contribution to the economy is very productive, according to the institute on taxation and economy: Collectively, undocumented immigrants in the United States pay an estimated total of $11.74 billion inRead MoreAmerican Immigration Policy, Citizenship, And The Rela tionship Between Foreign Policy And Constitutional Law1477 Words   |  6 Pageslaw, regarding refugees. Since the birth of the United States in 1776, citizens, from countries all around the world have considered making the trek to America, in hopes of pursuing a different, more prosperous life. Yet, many of history’s hopeful travellers have learned- legally entering America is potentially the most strenuous part of finding their place, in the country. From the late 18th Century until now, there has been gradual increase not only in the quantity of immigrants from around theRead MoreImmigration Control And National Homeland Security1491 Words   |  6 Pagesthrough Immigration Control† in which he contends that the only means to keep America safe from a follow-up attack is to strengthen and enforce immigration law to prevent terrorists from being able to enter the country. Edwidge Danticat, writing for The Nation in 2005, provides a juxtaposition to Krikorian’s stance in her essay â€Å"Not Your Homeland†, in which she describes her witnessing of the inhumane conditions many immigrants are forced to endure in the name of increased security to protect the countryRead MoreHow Can America Become A Better Immigrant Nation?1245 Words   |  5 PagesHow Can America Become a Better Immigrant Nation Again? It has become evident to many that the American economy is declining in recent years. Journalists are pointing out that one of the reasons why it got weaker is due to a failed immigration system and outdated policies towards illegal immigrants. For instance, Fareed Zakaria from Time magazine says, although America was once considered an example to many other immigrant nations, it is now falling behind some of them in terms of immigration-relatedRead MoreThe World Of An Immigrant1711 Words   |  7 Pageseverything they have. When an American contemplates the word immigrant, one imagines the countless people from Mexico crossing into our country or the refugees that hope to make this country their home. What eludes most of us, however, is the reality that most people were, at one point, immigrants to this country and that our forefathers came here exactly the same as refugees come today. What is brought to mind when I hear the word immigrant is hope and perseverance. I remember the countless peopleRead MoreThe Problem Of Homelessness And Drug Addiction1224 Words   |  5 Pagescontemporary issues such as social inequality, homelessness, drug addiction, structural, symbolic and interpersonal violence, and illicit economies. While all of these issues are important to understand, the public concern that is of the utmost importance is homelessness as well as the issues that correspond with this public concern. Homelessness is a very serious and pressing contemporary issue and it is strongly linked to another very serious contemporary issue, that being, drug addiction. ThroughRead MoreThe Immigration Of The United States1711 Words   |  7 Pagesvast majority of people living in the United States are descendants of immigrants, and yet majority of them are against them. It is quickly forgotten that America was built on immigrants that wanted a new life. A life free from harsh government, and the freedom from forced religion. The original settlers were immigra nts that stole this land; immigrants continued to come for years. It is not a newly constructed concept that immigrants have always been a problem, ask any Native American. One used to beRead MoreProtests1197 Words   |  5 PagesIn this paper, I will be discussing the recent political issue about the ban imposed on refugees from the Muslim-dominant nations into the United States. The current president of the United States, Donald Trump, on the 27th of January 2017 issued an executive order banning immigrants from seven countries into the United States. The issue that informed the ban was the security threat that the immigrants posed to the United States because most terrorist groups have an Islamic background. While this

The Left Brain vs. the Right Brain Free Essays

The Left Brain vs. the Right Brain: How Does This Impact Learning Over the years, schools have been teaching in the traditional way. This has proven to be successful for many students, but not all. We will write a custom essay sample on The Left Brain vs. the Right Brain or any similar topic only for you Order Now By breaking down the brain and how each side of it processes information could make a more conducive learning environment. If both sides are maximized in the classroom, all of the students are able to excel. Which should be the goal of all schools. Before comparing the styles, knowing how the brain processes the information for different people needs to be looked at. The brain processes information by the type of information that it is. Each side of the brain will process information differently. The left side of the brain will generally process information in a linear fashion. It will take the information and put it in a line and then draw the conclusion at the end. This is a sequential type of thinking. The left brain excels at information that comes in symbols, such as math formulas. It think of things in a logical sense. It can work through a problem in the logical sequence to come to the conclusion or answer. The left brained individual does not have any issues with expressing themselves verbally. They know what they want to say, and they can say it correctly. The left brained person is grounded in the world of reality. They are able to adjust to their surroundings (Templeton, 2012). On the other hand, the right brained person is the opposite. Instead of being linear in their way of thinking, the right brained person likes to know what the result is before discussing the topic. They need to know what the â€Å"big picture† is first so that they know where they are going. The right brained individual will jump around from task to task, not doing them in a sequential order. They still complete the tasks, but they will not prioritize the tasks. Where the left brained person likes symbols, the right brained person likes to deal with things that they can touch, real objects. The left brain looks at things in a logical manner, the right brain does things that feel right. They will base choices off of how they feel about something. A right brained person will want to see things visually. They will make mental pictures of the things that are discussed. The right brained person may have difficulty in meeting deadlines because they want to change the things around them and are less attune to reality (Templeton, 2012). Now that the aspects of each side of the brain has been described, are we able to only function with one side of the brain? To read some of the literature that is out there on the subject, you would assume that this is what people think. If this was the case, then we would only have that side of the brain. The brain was made to work with both sides in conjunction with each other. Yet, most people will be dominate one side more than the other. Radwan (2012) list ways that a person with either side brain dominant can use the other side. For example, a person that is left brained dominant should try to refrain from using only logic to make a decision. Radwan (2012) suggest listening to music while reading. that way the right side of the brain can be active in the process. For the person that is right brained, they should try to find out as much as they can about the issue or situation. Get more details about it. They should also try using more numbers, this way the left side of the brain is working, too, according to Radwan (2012). How is the traditional way of teaching conducted? According to Novak (1998), the traditional way of teaching is where the teacher is the one with the power and responsibility, they play the role of the instructor. They teach through lectures. They will be the one that decides the curriculum and what they want the students to learn. Novak (1998) also states that the teachers are the reason that learning happens and that the students need to have the information that they are missing, given to them. The classroom is generally set up with the desks or tables in a row with the teacher in the front of the classroom. The most important part of this process is the content and delivery of the lesson. It is believed that the student gets their knowledge through practice, which could include the note taking. This type of teaching will be competitive. (Johnson, 1991). Traditional style teaching can cause learning issues for some students. Not every person has the ability to learn this way. In a competitive arena, those that do not excel, may get left behind because they feel insignificant to the others. If they are wrong in the front of the class, they may not want to answer questions, due to the feeling of being ridiculed. This type of teaching does not take into account the creative side of the student. The student that starts to â€Å"move back into their shell†, has the potential to start to fall behind. With the traditional style, that student will have a challenge to catch up since the technique is to continue to teach, fill the student with more knowledge. Brain based teaching is a different type of teaching then the traditional way. It is geared more for the success of the student. It is broken down into three areas, before, during and after class. The before class section, which is conducted way in advance of the class, has two steps: pre-exposure and the environment. The pre-exposure has the teacher plan for those students that will need some extra help. The teacher determines how they will engage the students, making it interactive, to make them remember more of the lesson. The environment cannot always be adjusted, but when it can, the teacher will want to make the students feel safe. They will want to allow the students to sit wherever they want to. The temperature and lighting will need to be adjusted and watched to ensure it is conducive with the learning environment. (Jensen, 2005) During the class, the teacher wants to ensure that they engage both the mind and body. This will keep the student awake and interested in the material. The next step will be to â€Å"frame† the lesson. This step gets the student interested in the lesson. It is like a motivator for the student to learn the material. Acquisition is the next aspect that needs to be looked at. This focuses on input where the students and teacher interact and learn from each other. The teacher will want to elaborate on the topic to ensure that the learning has more detail. When the student has learned something new, time needs to be added at the end of class to reinforce the memory so that it can be recalled later. This is a very important part that is not done with traditional teaching. (Jensen, 2005) Jensen (2005) states that the after class section has two steps: â€Å"settling time and rest and review and revision. † It is believed that rather than teaching a mass amount of information, interval learning is the better way. Giving the students time to allow the information to settle by giving them breaks. As time goes on, the students will start to forget the information that was taught to them. If time is set aside to review the information and revise the students knowledge, they will remember it longer. A study was conducted in Pakistan to find out which style of teaching is more productive. It was conducted in Pakistan because the only style that has ever been taught is the traditional style. Fifty students were used in the study; twenty-five were the control, traditional, and twenty-five were the experimental. All of the students were given a pre-test in physics. The scores were recorded and then they were taught in the two different styles. At the end of the study, they were given a post-test. The results showed that the students that studied under the brain based technique were able to learn and retain more compared to the students under the traditional style. (Ali, 2010) For years schools have taught using the traditional style of teaching. Knowing what each side of the brain processes and using that to teach students has proven to be effective. By combining the creative side with the linear side ensures that students stay interested in the material. By staying interested, they are able to learn more, and more importantly, retain more information. References Ali, R. , Hukamdad, Ghazi, S. , Shahzad, S. , Khan, H. (2010). The Impact of Brain Based Learning on Students Academic Achievement. Interdisciplinary Journal of Contemporary Research In Business, 2 (2). 542-556. Jensen, E. (2005). Teaching with the Brain in Mind. Alexandria, VA. Association for Supervision Curriculum Development. Johnson D, Johnson R. (1991). Learning Together and Alone ed3. ;Allyn Bacon, Sydney. Novak, J. (1998). Learning, Creating and Using Knowledge: Concept Maps as Facilitative Tools in Schools and Corporations; Lawrence Erlbaum Associates, Inc; New Jersey, pp 24-25. Radwan, M. (2012). Learn How To Use Both Sides of Your Brain (the Left and Right Hemisphere. Retrieved from: http://www. 2knowmyself. com/The_brain/learn_how_ use_both_sides_of_your_brain_left_right. Templeton, M. (2012). Learning Styles. Retrieved from: http://frank. mtsu. edu/~studskl/hd/ learn. html. How to cite The Left Brain vs. the Right Brain, Essay examples

Investor Activists Icahn For Shareholders †MyAssignmenthelp.com

Question: Discuss about the Investor Activists Icahn For Shareholders. Answer: The investor activists such as Icahn are good for the shareholders, businesses and management to the extent that they help create a case for an institution hence the fundamental advantages are achieved. It implies that the investor activists help in laying out plans hence improve and drive the organization towards the creation of value (Venkiteshwaran, Iyer and Rao, 2010 pp.45). In other words, they are good for shareholders since they may help in making out good investment decisions. Hence the constructive changes and positive stock returns are achieved. A realistic explanation why investor activists leave the target institutions is as a result of pump and dump. I believe it is the case since the investor activists use their positions to put pressure on the boards into the plans which they hold that they are values for shareholders. Later, they dump the stocks when the prices increase hence the company is overleveraged and cannot invest in the long-term. Icahn is referred to as a corporate raider of dark legend since he used his tactics such as taking companies privately to buy shares especially those which were undervalued hence he would push changes through the management and increase returns. On the other hand, he was called the champion of shareholder activism since his activities were seen as legitimate and were welcomed by most organizational investors (Bebchuk, Brav and Jiang, 2015 pp.10). He would force companies to buy shares at a high price and issue the shareholders with the dividends and profits which they deserved. The most appropriate term for Icahn is a champion for shareholder activism since he is associated with investments which cause changes in the institutional policies hence the profitability for the target companies in the long-run is achieved. Bibliography Venkiteshwaran, V., Iyer, S.R. and Rao, R.P., 2010. Is Carl Icahn Good for Long?Term Shareholders? A Case Study in Shareholder Activism.Journal of Applied Corporate Finance,22(4), pp.45-57. Bebchuk, L.A., Brav, A. and Jiang, W., 2015.The long-term effects of hedge fund activism(No. w21227). National Bureau of Economic Research.