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Sedbober [7]
3 years ago
8

The Roland Company needs to comply with the financial reporting standards of the Sarbanes-Oxley Act. One of the employees, Ken,

believes that the costs outweigh the benefits. However, his boss feels the opposite, that the benefits outweigh the costs.
Who is correct?
Business
1 answer:
77julia77 [94]3 years ago
7 0

Answer:

The boss is correct.

Explanation:

Under Sarbanes-Oxley Act, a  rules-based approach to corporate governance and reporting is used. It is based on the view that companies must be

required by law (or by some other form of compulsory regulation) to comply with established  principles of good corporate governance.

Except in the instances of exceptions provided in the act, company has no choice than to comply regardless of the cost implication because non-compliance is punishable under the act. Sometimes, it is called tick box approach

This is contrary to what is obtainable in a principled-based approach where allowance is given for explanation in the event of possible con-compliance.

You might be interested in
In the context of skills of successful managers, making sacrifices to encourage and promote desired outcomes in an organization
Zielflug [23.3K]

Answer: monitoring operation

Explanation:

Monitoring operations requires management oversight, employee feedback and customer reviews. It can help provide specific directions for employees, which can lead to improved time management and increased productivity.

4 0
3 years ago
When you take your first job, you decide to start saving right away for your retirement. You put $5,000 per year into a saving p
mafiozo [28]

Answer:

FV= $857,840.94

Explanation:

Giving the following information:

First investment:

Annual deposit= $5,000 per year

Interest rate= 10%

Number of years= 5

Second investment:

Number of years= 35

Interest rate= 10%

Lumpsum= first investment

First, we need to calculate the future value of the first investment. We will use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

FV= {5,000*[(1.1^5) - 1]} / 0.10

FV= $30,525.5

Now, the future value of the second investment.

FV= PV*(1+i)^n

FV= 30,525.5*(1.1^35)

FV= $857,840.94

7 0
3 years ago
Congressman Smith and Congresswoman Johnson both consider themselves advocates for the national parks and are introducing differ
Hunter-Best [27]

Answer:

Congressman Smith's bill because it will reduce the overuse of the parks

Explanation:

When people use the park, their activities are more likely to create some sort of degradation to the parks quality. For example, children can spoil their drinks and foods there, pulling out the grass, destroying the land while playing sports, etc.

As the price of a certain product increase, the demand for that product would decrease. Increasing the entrance fees will lead  lesser amount of people who enter the park. This will minimize the degradation process

6 0
3 years ago
4.37.-On January 1st, Frank bought a used car for $72,000 and agreed to pay it as follows: ¼ down payment; the balance to be pai
Iteru [2.4K]

Answer:

$1,664.099

Explanation:

The amount that should be recognised by the Frank in respect of monthly payments to be made in respect of used car shall be determined using present value of annuity formula as follows:

Total amount to be paid= $72,000*3/4=$54,000

Total amount to be paid=Present value of annuity=R+R[(1-(1+i)^-n)/i]

Where

R=Equal monthly payment to be made=?

i=Interest rate compounded monthly=9/12=0.75%

n=number of payments involved=36

Present value of annuity= $54,000

$54,000=R+R[(1-(1+0.75%)^-36)/0.75%]

$54,000=R+R(31.45)

$54,000=R*32.45

R=$1,664.099=equal monthly payment

4 0
3 years ago
These financial statement items are for Snyder Corporation at year-end, July 31, 2017. Salaries and wages payable $2,580 Salarie
tatiyna

Answer:

Net loss = (6,700)

Explanation:

According to the scenario, computation of the given data are as follow:-

Income Statement

Particular                                        Amount ($)

Revenue from Service                         62,100

Revenue from Rent                         8,500

Less-Salaries and wages expenses   (50,700)

Less-Utilities expenses                       (22,600)

Less-Depreciation expenses       (4,000)

Net loss                                               (6,700)

6 0
3 years ago
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