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The Role of Government and Regulation

Government's involvement in and regulation of employee benefits

Please answer this questions. (Human Resources Questions) First: Other than the mandates of the Internal Revenue Code (IRC) and a few other ineffectual reporting and disclosure requirements, benefit programs were practically unregulated by the federal government. Before the major shift that came with the enactment of the Em

While the SOX Act of 2002 as many different sections, it would be important to focus on some of the major changes that were implemented. AUDITORS: First the act called for the creation of the PCAOB (Public Company Accounting Oversight Board), which in effect is a Government entity that controls public accounting. This is a major change in profession. For many years the profession was self-regulated. That is there was no direct Government involvement. With the PCAOB this entities charter is to audit the auditors. Another change was the type of services that could be offered and the approval authority for those services. In this case services must be approved by the Audit Committee of the Board of Directors and secondly auditor can not offer or provide certain services to their audit clients. This includes consulting services, accounting services, IT services, certain tax services and any other service that would cause a conflict of interest. This section was in direct response to the critics that argued that Anderson sold out to Enron as they were also the consultants to this company and was in effect advising the company on the services that were being audited. COMPANY: The major change directly affected executive management. While there were other processes in place that indicated that management was responsible for the financial information presented to the general public, SOX forced the executives (CEO and CFO) to provide a quarterly certification letter indicating that the necessary internal controls are in place, operating and effective. On the other hand, SOX provides under Section 302 that the management assessment of the control environment shall be audited by the external auditor and that the auditor would provide a report on the internal controls. DISCUSSING CHANGES: With these issues in mind, it will be important for each one of you to research the SOX Act in more detail, read current literature on how this affects your organization (if applicable) or the business community in general.

While the SOX Act of 2002 as many different sections, it would be important to focus on some of the major changes that were implemented. AUDITORS: First the act called for the creation of the PCAOB (Public Company Accounting Oversight Board), which in effect is a Government entity that controls public accounting. This i

Market Trends: Productivity, Wages & Price Elasticity of Demand

Describe the market trends that a Auto Industry will face. Explain your conclusions. Address how each of the following will or will not change, and why: Productivity: Consider the law of diminishing marginal productivity Cost structure o Wages and benefits o Fixed and variable costs Price elasticity of demand Effec

Complete an external environmental scan of your organziation

See attached file. Complete the external environmental scan for your organization. Perform an internal, competitive environmental scan for your organization. Write a summary that does the following: - Identifies and analyzes the most important external environmental factor in the remote, industry, and external operatin

Current Market Conditions Analysis

I need help with a Current Market Conditions Paper only of no more than 850 words analyzing the current market conditions of the Auto industry with no plagiarism to do my power-point slides(Iâ??ll do the PWP). Make sure to list all the references. Address the following topics: SEE BELOW â?¢ Supply and demand analysis

ETHICAL DILEMMAS Below are several situations that present ethical questions in a business. Discuss each situation: (a) from the strictly legal viewpoint (b) from a moral and ethical viewpoint, and (c) from the point of view of what is best in the long run for the company. Be sure to consider both short and long range consequences. Also look at each situation from the perspective of all stakeholders (groups concerned: customers, stockholders, employees, government, and community). 1. A disgruntled employee of your major competitor mails top secret information or new product samples to you. Do you begin to do a dance on your desktop or do you immediately mail the information back to your competitor? What would you do? a. Throw the plans or secrets away. b. Send them to your research department for analysis. c. Notify your competitor about what is going on. d. Call the FBI. e. Other? 2. You are the general manager of a regional chemical company. In the course of producing your bulk chemicals, large amounts of particles and smoke are emitted through your plant's smokestack. The level of pollutants is below current EPA regulations, and you are violating no laws, but neighborhood groups are complaining about minor health problems caused by the smoke. After investigating numerous alternatives, you find the most effective solution would be to install a 'scrubber' system which will remove 90 percent of the pollutants and ash. Cost: $1 million. Do you install the system? 3. You are the vice president of a beer company in a state which sets the legal drinking age at twenty one. Your boss asks you to organize a lobbying effort to have the drinking age reduced to eighteen. 4. You are an accountant in a large firm. Your boss tells you to use a controversial accounting practice which will make the company's profits seem higher. She tells you it is only to impress stock holders and will not be used in statements submitted to the IRS.

ETHICAL DILEMMAS Below are several situations that present ethical questions in a business. Discuss each situation: (a) from the strictly legal viewpoint (b) from a moral and ethical viewpoint, and (c) from the point of view of what is best in the long run for the company. Be sure to consider both short and long

1. Identify the Major reporting requirements associated with each of the following: a. Securities Act of 1933 b. Securities and Exchange Act of 1934 c. 10-K report d. 10-Q report 2. Identify each of the following: a. The private sector organization that is responsible for setting financial accounting standards in the United States. b. The private sector organization that is responsible for setting state and local governmental accounting standards in the United States. c. The organization that exists to influence the development of international accounting standards. d. The federal agency that oversees accounting at the federal government. e. The organization responsible for the enforcement of financial accounting standards in the United States. 3. Mag's pie shop is a rapidly growing baker and distributor of specialty pies for festive occasions. Mag's CPA adviser keeps recommending that Mag install better internal controls over the business. Specifically, the CPA recommends that Mag separate the company's record keeping function from the physical control of cash and other assets. The CPA also recommends that Mag use only preprinted and pre-numbered forms for all business transactions. a. What is the purpose of internal controls? Please be specific. b. For each internal control suggested by the CPA, please give one example of an unsatisfactory situation or event that the control would prevent. 4. Sales clerk controls (see attached)

1. Identify the Major reporting requirements associated with each of the following: a. Securities Act of 1933 b. Securities and Exchange Act of 1934 c. 10-K report d. 10-Q report 2. Identify each of the following: a. The private sector organization that is responsible for setting financial accounting standards in the Uni

Texas local government code on Hearing Examiners

There are provisions of the Texas Local Government Code that allow some police officers to have the benefit of Independent Hearing Examiners to review their discipline. # Identify the relevant provisions and briefly explain why they provide a disciplinary review process that is basically similar to labor arbitration.

You are given the following long-run annual rates of return for alternative investment instruments: ? US Government T-Bills 3.5% ? Large-cap common stocks 12.1% ? Long-term corporate bonds 6.2% ? Long-term government bonds 5.6% ? Small-capitalization common stock 14.6% The annual rate of inflation during the period was 2.9%. Compute the real rate of return on these investment alternatives.

Assignment #2: Risk Assessment, Portfolio Management 1. You are given the following long-run annual rates of return for alternative investment instruments: ? US Government T-Bills 3.5% ? Large-cap common stocks 12.1% ? Long-term corporate bonds 6.2% ? Long-term government bonds 5.6% ? Small-capitalization commo

Government Revenue Stabilization Program

Scenario: You are the Assistant City Manager for Centropolis, a city of 500,000 people in the Midwest region of the United States. The City employs 6,000 people in 25 departments, with a budget of more than $1 billion. Centropolis is the core of a metropolitan area with a population of almost two million people. The city shar

Indifference curves can intersect if A. the consumer is poorly educated B. the two goods are high priced C. the consumer's income is very low D. all of thee above E. none of the above

Indifference curves can intersect if A. the consumer is poorly educated B. the two goods are high priced C. the consumer's income is very low D. all of thee above E. none of the above if the expected return from an investment is plotted along the vertical axis and the riskiness of the investment is plotted along the hori

Performance Based Contracting, Market Research, and Other Topics

1. What is performance based contracting? 2. When is it appropriate to use Government Furnished Property? What are the advantages and disadvantages? 3. What are the primary rules concerning gifts regarding government employees? What is the overarching rule in the ethics arena that always provides a safe harbor for any dec

Questions

1. What are some of the biggest challenges you see facing those in the Government Contracting Career Field Today? 2. In addition to contractual authority we need to think about the fundamental elements that comprise a contract? In the common law certain elements that comprise a contract have been developed over time. what are

Height and weight restriction as gender discrimination

READ AND ANSWER THREE CASE QUESTIONS AT THE BOTTOM OF THE PAGE. Dothard v. Rawlinson 433 U.S. 321 (1977) After her application for employment as an Alabama prison guard was rejected because the applicant, Rawlinson, failed to meet the minimum 120-pound weight, 5-foot-2-inch height requirement of an Alabama statute, Rawlins

Technology Management: Environmental factors, role of government in innovation

1. What environmental factors should be analyzed to transfer a product from a business environment to the home and to the car? What technology breakthroughs moved the telephone from a business tool to a personal, portable necessity? How would you model those S-curves? 2. What role does a government play in fostering innovati