@ 2012, Cengage Learning Sarbanes-Oxley, Internal Control, and Cash LO 1 - Understanding the Impact of the Sarbanes-Oxley Act of 2002 on Accounting.

Slides:

Advertisements

Similar presentations

AB298-Associate Capstone in Accounting

Advertisements

5 Accounting Systems Accounting 26e C H A P T E R Warren Reeve Duchac

Dr. Mohamed A. Hamada Lecturer of Accounting Information Systems

Title Slide ProWorks for Sarbanes-Oxley (SOX) Compliance.

Principles of Financial Accounting, 11e

7-1 FRAUD, INTERNAL CONTROL, AND CASH Financial Accounting, Sixth Edition 7.

Sarbanes-Oxley, Internal Control & Cash

Internal Control Pertemuan 05 s.d 06 Matakuliah: F0712 / Lab Sistem Informasi Akuntansi Tahun: 2007.

Internal Control. COSO’s Framework Committee of Sponsoring Organizations 1992 issued a white paper on internal control Since this time, this framework.

Chapter 4 IDENTIFYING RISKS AND CONTROLS IN BUSINESS PROCESSES.

Learning Objectives LO1 Distinguish between management and auditor’s responsibilities regarding an auditee organization’s internal controls. LO2 Explain.

© 2014 Cengage Learning. All Rights Reserved. Learning Objective © 2014 Cengage Learning. All Rights Reserved. LO5 Prepare a post-closing trial balance.

© 2003 McGraw-Hill Australia Pty Ltd, PPTs t/a Accounting Information & Reporting Systems by A. Aseervatham & D. Anandarajah. Slides prepared by Kaye Watson.

CPA, MBA BY RACHELLE AGATHA, CPA, MBA Sarbanes-Oxley, Internal Control and Cash Slides by Rachelle Agatha, CPA, with excerpts from Warren, Reeve, Duchac.

7-1 The Sarbanes-Oxley Act of 2002 (referred to simply as Sarbanes- Oxley) applies only to companies whose stock is traded on public exchanges. Its purpose.

Chapter 5 Internal Control over Financial Reporting

Internal Control in a Financial Statement Audit

Chapter 7 Auditing Internal Control over Financial Reporting McGraw-Hill/Irwin ©2008 The McGraw-Hill Companies, All Rights Reserved.

Accounting Principles, Eighth Edition

C Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, or posted to a publicly accessible website, in whole or in part.

Prepared by: C. Douglas Cloud Professor Emeritus of Accounting Pepperdine University © 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned,

Prepared by: C. Douglas Cloud Professor Emeritus of Accounting Pepperdine University © 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned,

Click to edit Master title style Sarbanes-Oxley, Internal Control and Cash.

©2014 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publically accessible website, in whole or in part.

1 Today’s Presentation Sarbanes Oxley and Financial Reporting An NSTAR Perspective.

1 © 2012 John Wiley & Sons, Ltd, Accounting for Managers, 4th edition, Chapter 2 Accounting and its Relationship to Shareholder Value and.

Warren Reeve Duchac Financial Accounting 14e Sarbanes-Oxley, Internal Control, and Cash 8 C H A P T E R human/iStock/360/Getty Images.

Richard F. Chambers, CIA, CGAP Vice President, IIA Learning Center The Institute of Internal Auditors.

Internal Control and Accounting for Cash Chapter Six McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.

1-1 Prepared by Coby Harmon University of California, Santa Barbara Westmont College.

Student Version o Repetition is an important component, a key part of learning. In memory, the more times patterns of thought are repeated, the more likely.

Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Chapter 7 Fraud, Ethics, and Controls.

Learning Objectives Understand the Business – LO1 Distinguish among service, merchandising, and manufacturing operations. – LO2 Explain common principles.

Prepared by: C. Douglas Cloud Professor Emeritus of Accounting Pepperdine University © 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned,

8-1 Accounting Principles Using Excel for Success PowerPoint Presentation by: Douglas Cloud, Professor Emeritus Accounting, Pepperdine University © 2011.

Learning Objectives LO5 Document an accounting system to identify key controls and weaknesses in order to assess control risk. LO6 Write key control tests.

Chapter 5 Sarbanes-Oxley, Internal Control, and Cash.

Bank Reconciliation and Internal Control Week 2 Seminar Presentation

Financial Management & Internal Control for Utility Companies Julia Barber, CPA and Sherman, Barber & Mullikin, CPAs Madison, IN

Entrepreneurship Mr. Bernstein Preparing Financial Statements, pp December 2015.

Chpt 9.3 – Accounting Controls for Cash Internal Controls – is the set of accounting procedures established to ___________ _________ and waste, ensure.

Accounting II Unit 2 Chapter 8 Sarbanes-Oxley, Internal Control and Cash 1.

©2008 Prentice Hall Business Publishing, Auditing 12/e, Arens/Beasley/Elder Section 404 Audits of Internal Control and Control Risk Chapter 10.

Warren Reeve Duchac Accounting 26e Accounting Systems 5 C H A P T E R human/iStock/360/Getty Images.

Experience perspective // CPAs & ADVISORS CLUB FINANCIAL MANAGEMENT BEST PRACTICES Presented by Rick Wittgren, CPA, partner.

Governance, risk and ethics. 2 Section A: Governance and responsibility Section B: Internal control and review Section C: Identifying and assessing risk.

7-1 7 Sarbanes-Oxley, Internal Control, and Cash Student Version.

Corporate Financial Accounting 14e Warren Reeve Duchac Chapter 7 Internal Control and Cash.

ACC 422 Week 2 DQ 3 To purchase this material click 422/ACC-422-Week-2-DQ-3 How do we account for the disposition of.

Accounting Records Every company is required to maintain proper accounting records.

= + The Accounting Equation Liabilities Equity Assets

Sarbanes-Oxley, Internal Control, and Cash

© 2015 Cengage Learning. All Rights Reserved.

THE RECORDING PROCESS -POSTING

Sarbanes-Oxley, Internal Control, and Cash

© 2015 Cengage Learning. All Rights Reserved.

Managing Financial Operations

7 Sarbanes-Oxley, Internal Control, and Cash

7 Sarbanes-Oxley, Internal Control, and Cash

The Accounting Process

إعداد القوائم المالية Preparation of Financial Statements

Sarbanes-Oxley, Internal Control, and Cash

Sarbanes-Oxley, Internal Control, and Cash

Governance and Audit Oversight for Capital Market

Sarbanes-Oxley, Internal Control, and Cash

Source Documents The accounting department is informed of transactions by means of business papers that are sent to it. These business papers are called.

(Financial Statements) Accounting Principles, Eighth Edition

© 2015 Cengage Learning. All Rights Reserved.

© 2014 Cengage Learning. All Rights Reserved.

Simpson Company experienced the following events during Year 1.

Presentation transcript:

@ 2012, Cengage Learning Sarbanes-Oxley, Internal Control, and Cash LO 1 - Understanding the Impact of the Sarbanes-Oxley Act of 2002 on Accounting

Sarbanes-Oxley Act of 2002  The Sarbanes-Oxley Act of 2002 (often referred to simply as Sarbanes-Oxley) applies only to companies whose stock is traded on public exchanges. Its purpose is to restore public confidence and trust in the financial statements of companies. LO 1

 Sarbanes-Oxley requires companies to maintain strong and effective internal controls over the recording of transactions and the preparing of financial statements. Sarbanes-Oxley Act of 2002

LO 1  Internal control is broadly defined as the procedures and processes used by a company to:  Safeguard its assets.  Process information accurately.  Ensure compliance with laws and regulations. Sarbanes-Oxley Act of 2002

LO 1 Sarbanes-Oxley Act of 2002

LO 1 Sarbanes-Oxley Act of 2002