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University of Phoenix ACC 561 Week One Discussion Questions




Question;Week One Discussion Questions;Visit the;website of your favorite U.S. company. Find the company?s financial statements;in the section of the website for investors. Post a link to the statements.;What did you find interesting about each of the four financial statements;which include balance sheets, income statements, statements of cash flows, and;statements of owners? equity? How could the information in those statements be;useful to an investor and to a manager?Which one;of the four financial statements is your favorite and why?;Find an;article in the University Library about the Sarbanes-Oxley Act. Post a;reference consistent with APA guidelines for the article so all students can;locate it. What does the article tell you about the purpose of Sarbanes-Oxley;and about the responsibility of corporations?;In;addition to preparing financial statements in accordance with GAAP, U.S.;companies may be required, in the near future, to prepare these statements;according to the International Financial Reporting Standards (IFRS). Review the;standards on the Financial Accounting Standards Board website ( and on the IFRS Foundation website ( In what specific ways do the two sets of;standards differ from one another? If the United States adopted IFRS standards;what would be the advantages and disadvantages?


Paper#41699 | Written in 18-Jul-2015

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