Why did some managers complain about the requirements imposed by SOX sections 302 and 404?

Q: Properly designed management control systems have both fixed compensation and contingent…

A: Properly designed management control systems typically include both fixed compensation and…

Q: Which is NOT an element of the Controlling function? O a. Comparing actual Performance with…

A: Controlling function prevails in every company where there are more than two people working to…

Q: Explain the problems associated with lack of director independence.

A: An independent director is a director of board of directors who does not have a material…

Q: What can be Consquences of Unethical Behaviour?

A: Please note - Due to multiple questions,  we can answer only first question as per policies.

Q: Which among the three different compensation models, commission, hybrid, and salary, which model can…

A: Commission-based model: In a commission-based model, financial advisors are primarily incentivized…

Q: What are management’s responsibilities under Sections 302 and 404?

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: Indicate which of the following answers to the statement below represents the best choice, then…

A: Activity Based Costing Activity based costing is one of the techniques that distributes the costs on…

Q: Mechanisms used for reporting non-compliance and identifying risk issues can include which of the…

A: Answer: Balance scorecard is the management tool that can help identify the shortcomings of the…

Q: Under IFRS, the retrospective approach should not be used if: a.    retrospective application…

A: International Financial Reporting Standards (IFRS): International Financial Reporting Standards is a…

Q: What are the implications if management refuse to sign a management representation letter

A: If the management is not signing or refuses to sign the letter, this implies that the management is…

Q: Should the FASB have overturned the software revenue recognition portion within ASC 985-605? As part…

A: Financial accounting standards board (FASB): This is the organization that creates, develops, and…

Q: Explain how whistleblowers can contribute to a company's ethical behaviour?

A: Whistleblowers contribution to companys ethical behaviour: Whistleblower:  whistleblowing means…

Q: IS a outsource?

A: Outsourcing is the process of hiring a third party to perform the company's services that are…

Q: please explain the "principle of exceptions" as it relates to cost control.

A:

Q: If so many companies find non-GAAP calculationsuseful when communicating with their stakeholders,…

A: GAAP is a set of rules for efficiently capturing and interpreting accounting data. GAAP standards…

Q: Neutrality of information means that the information is a. Not in favour of any of the employees b.…

A: Accounting information is information related to financial statements like income statement, balance…

Q: What is one key way to reduce cost-allocation disputes that arise with government contracts?

A:

Q: Uncontrollable costs are the costs which be influenced by the action of a specified member of an…

A: In the process of manufacturing goods certain costs are incurred. The type of costs involved in the…

Q: Research executive compensation packages. Do you believe these compensation packages are excessive?…

A: Executive compensation packages refer to the total remuneration, or pay and benefits, that are…

Q: What is meant by GAAG? Why should all companies follow GAAP in reporting to external users?

A: Generally Accepted Accounting Principles is what is meant by the abbreviation GAAP. Companies use…

Q: Describe the process of handling Unequal Service Lives?

A: Answer: When the project’s life is equal, it is easy to determine the different capital budgeting…

Q: How is the Handling of Unequal Service Lives done?

A: When decision has to be made while comparing one project with other projects and out of which only…

Q: what is implicationstion if management refused to sign a management representative letter? If…

A: Management Representative Letter: It is the letter that is signed by the senior management of the…

Q: Cite a specific example of non-value added activity that can be eliminated in a particular industry.…

A: NVA activities are tasks that do not add to the shape or function of the market. Filing, copying,…

Q: Is advertising a program expense?

A: Advertising is treated as expense when it is incurred by the entity or organization for making the…

Q: Business that are exempt from output VAT but entitle to input VAT are   A. Vat Exempt Persons B.…

A: Value Added Tax is a novel form of levying tax on goods and services. It is paid to the credit of…

Q: Is  a rule of Contra Proferentum defensible in today’s business environment? Explain with example

A: Meaning: It is a legal doctrine in contract law which states that any clause considered to be…

Q: What do you think is the difference between claims and entitlements?

A: Manufacturing industries are based on preparing final products from the raw materials and…

Q: Discuss drawbacks/difficulties of Cost- Benefit Analysis used under Utilitarian Approach in Ethics.

A: Cost benefit analysis: It is the technique that is used to compare the project cost and benefits…