ACC 557 Week 2 Discussion Questions

Week 2″Sarbanes-Oxley Act (SOX)” Please respond to the following:From the e-Activity, recommend how the SOX framework can ensure reliable and complete financial information and how accounting professionals have benefitted from its use. Provide support for your response.Evaluate how the SOX has reinforced investors’ and creditors’ confidence in companies and how these individuals can take steps to verify the accuracy of the financial statements of potential investments or loans. Provide support for your rationale.DQ 2″Accounting for a Specific Circumstance” Please respond to the following:From the e-Activity research you gathered, analyze how you, as the Chief Financial Officer (CFO) of a “big box store” that has potential pollution, environmental-disposal, or demolition problems, would handle these costs in your financial statements and communicate this proposed plan to your colleagues on the management team. Indicate how any resistance would be overcome. Support your stance with the information that you obtained through your research.Recommend the advantages and disadvantages of recording the above-referenced costs in the financial statements and how this might alter the company’s public image.