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University of Phoenix ACC 561 Week One Discussion Questions

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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 (http://www.FASB.org) and on;the IFRS Foundation website (http://www.IFRS.org).;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#41867 | Written in 18-Jul-2015

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