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Chapter 1: Introduction to Managerial Accounting




Question;1.5-1 The Sarbanes-Oxley Act was designed;to hold corporations accountable for internal control and financial;reporting functions.;1.5-2 The;Sarbanes-Oxley Act has significantly impacted the responsibility for financial reporting;by publicly;traded corporations.;1.5-3 CPA;firms cannot provide consulting services for their current audit clients.;1.5-4 Trends;in the modern business environment include a shift to a service economy and the;rise of the global marketplace.;1.5-5 The;concept of the lean production philosophy is generally credited to General;Motors.;1.5-6 The;decision to bill customers electronically, which saves the company money, would;be a positive benefit when performing cost-benefit analysis.;1.5-7 Lean;production cuts the throughput time of a manufacturing concern.;1.5-8 ISO;9001:2008 is a certification program for companies that adhere to an international;set of quality management;standards and guidelines.;1.5-9 According to SOX, at least one;member of the audit committee should be a financial expert.;1.5-10 IFRS stands for ?important;financial reporting standards?.


Paper#54953 | Written in 18-Jul-2015

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