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· Assess how the GAAP and IFRS convergence project has · As a
CFO of a publically traded company, suggest how you would
create an ethical environment to ensure account balances are
correctly valued and reported so that information is reliable for
users. Provide support for your rationale.
· Assess the ethical requirements as outlined in the Sarbanes-
Oxley Act, indicating whether or not you believe the requirements
are adequate to ensure integrity in financial accounting and
reporting activities. Suggest improvements that may be needed
while providing support for your rationale.
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ACC 573 Week 2 DQ 2
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· In today’s business environment where publicly traded
companies feel pressure to meet short-term earnings expectations,
management may be tempted to “manage earnings”. Assess how a
financial statement user may be able to detect managed earnings
when reviewing the firm’s balance sheet, income statement, and
cash-flow statement. Indicate how a potential investor might
interpret these “red-flags”. Provide support for your rationale.