Accounting scandals over the past several years

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Reference no: EM13757002

Write a 200- to 350-word response to the capstone discussion question.

In the wake of accounting scandals over the past several years, how has the Sarbanes-Oxley Act (SOX) of 2002 affected the practice of accounting? What is the role of internal controls in complying with SOX (2002)?

Access the Internet to acquire a copy of the most recent annual report for the publicly traded company used to complete the Financial Reporting Problem, Part 1 assignment due in Week Six.

Analyze the information contained in the company's balance sheet and income statement to answer the following questions:

Are the assets included under the company's current assets listed in the proper order? Explain your answer.
How are the company's assets classified?
What are cash equivalents?
What are the company's total current liabilities at the end of its most recent annual reporting period?
What are the company's total current liabilities at the end of the previous annual reporting period?
Considering all the information you have gathered, why might this information be important to potential creditors, investors, and employees?

Summarize the analysis in a 700- to 1,050-word paper in a Microsoft® Word document.

Reference no: EM13757002

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