Sarbanes

Sarbanes Introduction The Sarbanes-Oxley Act of 2002 was enacted into law in 2002 to respond to the various financial scandals that were taking place in the for-profit corporate sector of the United States. The act was meant to address the abuse of finances and accounting standards by companies such as Adelphia, Enron and WorldCom where the executives of these companies defrauded their shareholders, their employees and the US economy of billions of dollars. Once it was enacted, SOX was meant to introduce major changes to the corporate governance and financial management of capital in many corporations within America. The Sarbanes-Oxley Act or the SOX act of 2002 was developed by Senator Paul Sarbanes and House Representative Michael Oxley and it contains eleven sections which outline the responsibilities of chief executive officers as well as financial controllers in managing the finances of a company (Morgan et al, 2008). Examination of the SOX Act of 2002 Under the Sarbanes-Oxley Act of 200 2, companies that are publicly traded in the US are required to increase their internal financial and accounting controls after personal clarification with the chief executive and chief financial officers of the company. This is meant to strengthen the auditing, accounting and financial practices of the company.Advertising We will write a custom essay sample on Sarbanes-Oxley Act specifically for you for only $16.05 $11/page Learn More The act also requires for-profit corporations in the country to increase their external controls through enhancing the duties and responsibilities of the audit committee. The act also states that chief financial controllers and auditors need to provide supporting evidence that will be used to whistleblow on the abuse of company funds (Morgan et al, 2008). The SOX bill does not apply to privately held companies as many of the laws deal with the management of shareholder, corporate and public funds which are usually common in p ublicly traded companies. The new and enhanced standards within the SOX Act deal with additional responsibilities for the corporate board and chief executive officers of most organizations as well as the introduction of criminal penalties for managers caught defrauding corporations of public funds. Other enhanced standards within the act include auditor independence, enhanced financial disclosures, conflicts of interest and corporate fraud accountability. All these aspects are included within the eleven sections of the act where they analyse the specific mandates and requirements that managers need to have when conducting financial reporting (Kuschnik, 2008). Each of these sub sections are important and necessary in the financial management of publicly traded corporation as they ensure that there is accountability during the management of financial funds. For example auditor independence which falls under the second title deals with limiting the conflicts of interest that arise duri ng audit reporting while corporate fraud accountability which falls under the eleventh title of the act deals with the identification of corporate fraud and the various penalties that are served to deal with fraud. This section also revises the sentencing guidelines that were in existence before to deal with people who defrauded companies of billions of dollars. This review was seen to be important as it would enable the Securities and Exchange Commission (SEC) to temporarily freeze any transactions or payments that were deemed to be unusual for the company (Kuschnik, 2008).Advertising Looking for essay on business corporate law? Let's see if we can help you! Get your first paper with 15% OFF Learn More In general, the act deals with ensuring the financial reports generated by auditors and finance managers within organization to develop internal control reports that can be used to determine the accuracy of the company’s financial data. The adoption of the SOX act is meant to establish a best-practice standard when it comes to the management of corporate funds. The act also changes how corporate management boards and executives interact with each other as well as with their corporate auditors and financial controllers. It also ensures that the top managers of a corporate organization are held accountable for the accuracy of financial statements released at the end of every company financial year (Litvak, 2007). Benefits and Costs of the Sarbanes-Oxley Act According to Bednanrz (2006), the costs of implementing the SOX act will exceed the benefits of the act when it is fully implemented. A survey conducted on the compliance costs of the act in various publicly traded corporations within the US revealed that the first year compliance costs would exceed $4.6 million dollars. This figure applied to all the large multinational and domestic companies in the US. Medium sized companies and smaller companies operating within the US were l ikely to incur significant additional costs that were projected to amount to $2 million during the first-year compliance with the SOX guidelines. These huge costs incurred during the first year would make it difficult to determine whether the Sarbanes-Oxley Act was actually working in managing corporate finances and auditing issues (Bernanrz, 2006). With regards to the benefits of the act, various financial analysts and experts noted that the borrowing costs were lower for companies that had improved their internal control measures while corporate transparency had improved within many publicly traded organizations during the first year of compliance. Section 404 of the act ensured that companies had conservative reported earnings where financial reports and statements underwent verification to determine their accuracy before being presented to the various stakeholders of the company. Companies that had strong internal controls were able to experience an increase in their share price s and their financial statements were more reliable (Morgan et al, 2008).Advertising We will write a custom essay sample on Sarbanes-Oxley Act specifically for you for only $16.05 $11/page Learn More Reactions of Company Executives and Changes to Accounting Practices While many legislators have praised the Sarbanes-Oxley act to be effective in dealing with financial fraud within corporations, many business managers have expressed frustration with the act. The Federal Regulation Board has been faced with a lot of complaints about the high costs that are needed to implement the act in major public corporations within the country. Executives from General Electric, Lockheed Martin and Emerson Electric were among those who spoke about the various challenges of complying with the SOX act two years after it was implemented (Bednanrz, 2006). The executives agreed that while it was too soon to determine the benefits of complying with the act, there were considerable costs such as audit fees which were expected to increase by approximately 40% during the first year of compliance. Business managers working for BP saw the duplicate testing of internal controls to dilute the business practices of the organization as they saw it to be a frustrating exercise. They instead preferred to perform a single internal control testing exercise which would enable them to identify and document any financial issues or problems (Bednanrz, 2006). References Bednanrz, A., (2006, May 11). Executives tell regulators Sarbanes-Oxley costs exceed benefits. Retrieved from:Â  https://www.networkworld.com/article/2311689/execs-tell-regulators-sarbanes-oxley-costs-exceed-benefits.html Kuschnik, B., (2008). The Sarbanes-Oxley Act: big brother is watching you or adequate measures of corporate governance regulation. Rutgers Business Law Journal, 64-95 Litvak, K., (2007). The effect of the Sarbanes-Oxley Act on non-US companies cross-listed in the US. Journal of Corporate Fin ance, 13(55), 195-228Advertising Looking for essay on business corporate law? Let's see if we can help you! Get your first paper with 15% OFF Learn More Morgan, D.F., Green, R., Shinn, C.W., Robinson, K.S., (2008). Foundations of public service. New York: M.E. Sharpe Incorporated

Average National SAT Scores for 2013

Average National SAT Scores for 2013 More than a million high school students registered for the SAT for 2013. If youd like to know how your cohorts did, here are some results from the national SAT scores for 2013. Overall SAT Scores for 2013 These are the mean, or average, scores of all students who took the SAT from the fall of 2012 through June 2013, by section (they are identical to the the scores from the year before):   Here are the mean scores for all testers by section: Overall: 1498Critical Reading: 496Mathematics: 514Writing: 488 (subscores: multiple-choice: 48.1 / essay: 7.3) SAT Scores by Gender Here are the years scores separated by gender: Critical Reading:Males: 499Females: 494 Mathematics:Males: 531Females: 499 Writing:Males: 482Females: 493 SAT Scores by Reported Annual Income The results indicate consistently that students from wealthier families score higher on the SAT than kids from families with lower incomes. This doesnt mean that higher incomes produce smarter kids. Parents with more wealth might be more willing to purchase SAT prep  or retakes of the test. Here are the results: $0 - $20,000: 1326$20,000 - $40,000: 1402$40,000 - $60,000: 1461$60,000 - $80,000: 1497$80,000 - $100,000: 1535$100,000 - $120,000: 1569$120,000 - $140,000: 1581$140,000 - $160,000: 1604$160,000 - $200,000: 1625$200,000 and more: 1714 SAT Scores by Ethnicity There is no causal relationship between ethnicity and scores, but there are different results based on ethnicity: American Indian or Alaska Native: 1427Asian, Asian-American or Pacific Islander: 1645Black or African-American: 1278Mexican or Mexican-American: 1355Puerto Rican: 1354Other Hispanic, Latino, or Latin-American: 1354White: 1576Other: 1501No response: 1409 To spot trends, you may compare all the above data to the 2012 SAT results.   Other SAT Score Categories There are other categories of mean SAT scores, including the  average SAT scores for students entering the  top public schools  and the  scores for the top private schools.   2013 SAT Scores Summary These statistics represent the mean, but not the individual. Having nothing in common with the groups scoring the highest on the SAT doesnt mean that you cant secure a top-notch score. If you havent taken the SAT or are planning to retake it, there are  free SAT practice quizzes  and free SAT apps  you can use to help prepare yourself. Another authority suggests these additional ways of getting ready: Know the test structure.Write practice essays.Ensure that you have a calculator and spare batteries.Know when to guess on a question and when to skip it entirely.Get a good nights sleep.

Education Essay Example | Topics and Well Written Essays - 1000 words - 4

Education - Essay Example After the final work, you will find the areas in your work I edited. The ideas I added are typed in RED to make you spot the new additions. I have also attached one more article that I used. If your teacher requests for it, you may provide it to him. Thank you and hoping we work again in the nearest future since my field is Education. Isaac #72032 TUI UNIVERSITY Grear Dale III MAE 515 MOD 3 SLP Dr. Xiaoying Wu February 21, 2011 Texas Public School System Education is an important aspect of society. In the view of Goer (2007), education has an enormous impact on the human society. It trains the human mind to think and take the right decision. To this effect, human is regarded as a rational being and distinguished from other animals when he is educated to take control of himself and over the environment around him. Education therefore equips humankind with the knowledge to take charge over his immediate environment and make it suitable for his existence. It is for the reason of this im mense impact of education that States all over the world adapt educational systems that will be most suitable to the needs of its citizens and help solve the immediate problems of its people. To ensure that the adapted educational system meets the expectation of society, there are systems put in place to check for success and progress of the entire educational system. Checking for success of the educational system includes checking whether the curriculum answers the most immediate perturbing issues of society and whether stakeholders in the educational system; including students and teachers are living up to the standards of the educational system. The system that is used for checking whether the educational system is up to standard is commonly referred to as assessment. In the State of Texas, the public school system is one of the most esteemed forms of education. Texas’ public school system continues to use a variety of assessments in which to evaluate curriculum and teache rs/instructors. Assessments are conducted by students in determining where their school ranks within districts throughout the state. The rankings are not always used in a positive manner. Some assessments are in an attempt to solicit student enrollment into certain school districts. The State of Texas’ overall intent for its ranking procedure and policies is also used to promote schools as Magnet schools, which is a positive step to improve student outcomes. Magnet schools throughout the state of Texas receive much more funding regular schools. It focuses on special funding for special programs and compensation to teachers/instructors who deliver their curriculum to a certain standard. It is noticeable that the typical standard school receives far less funding and therefore students are less likely to receive the same standard of education. The intent of this analysis is to compare certification programs and evaluation requirements for teachers as well as students within the state of Texas school districts. What is a Magnet School? The article â€Å"Public School Review,† suggest that the difference between a Magnet and regular public schools â€Å"is that they usually have something special to offer over a regular school, which makes attending Magnet schools an attractive choice to many students, thereby increasing the diversity of the student population within them.† (Chen, 2007) Students who are privileged to enroll in Magnet schools

The State of Florida should raise the legal drivers age to 18 Essay

The State of Florida should raise the legal drivers age to 18 - Essay Example aged 16 years old at the time of the incidence made a grave mistake in his judgments: overloading the car with eight people, speeding, driving with near bald tires and overtaking another car full of fellow teen-agers (Driscoll 1). Dreadful tragedies involving young drivers have been reported from all the American states. It is quite clear that at ages eighteen and nineteen, there is a greater level of maturity and better judgments than at sixteen. In the year 2009, Justine Winter (while driving at 85mph) crashed a head on leading to a death of a mothers and her 13-year-old only son. On an interview in a TV show, winter says sorry to the family of the victims: 35-year-old, expectant Erin Thompson and Caden, her son (Daily Mail on Teenage Girl). She apologized saying she dint want to put them through any more pain than they had under gone through. Extending her apologies to her own family, she confirmed that her family went through a lot of pain because of the accident. Asked if she would take responsibility for the accident, she said she would although she clearly states that she cannot remember anything about the crash. Winter, who is the youngest inmate at 18, is serving a 15-year sentence at Montana Women’s Prison for the killings. The horrifying crash happened after winter fought with her boyfriend. They had a heated argument via text messages as she was driving. However winter and her lawyers insisted, it was a normal accident and not a suicide attempt. Winter, which was 16-years-older that time, suffered multiple injuries and had to under go several surgeries due to brain damage. Having been found guilty, of double homicide, she was jailed for 15 years. The prosecutor argued winter was carelessly driving, and she was not wearing a seatbelt. Erin Thompson’s family was praised by the judge who said their compassion and courage was remarkable. They only asked for apologies from the 18-year-old. At the moment, car crashes by the teenagers in the United

Personal Hygiene: Preventing Infections and Diseases Essay -- clean and

In today’s culture, poor personal hygiene is typically unacceptable and frowned upon. People don’t want to be around anyone who smells badly or isn’t clean. Consequences from poor personal hygiene can develop into potentially serious diseases such as hepatitis A, streptococcus, staph infections, common colds, influenza, typhoid, lice and even dental diseases, including, gingivitis, gum disease, plaque, and bad breath. These are all far too common within our workplaces, schools, and day to day life, but I can easily prevented them by maintaining good personal hygiene, which involves washing my hands, brushing my teeth, bathing, personal grooming, and doing my laundry properly. The key to preventing most of these infections and diseases is properly washing my hands and knowing when to wash them. I can’t see germs with my naked eye, so I wash them when they are dirty, before, during, and after food preparation, before I eat, after using the restroom, touching soiled clothing, animals, animal waste, the trash, or sneezing, coughing, and blowing my nose, and before and after treating wounds and sick people. There is more to washing my hands than soap and water. I must scrub all surfaces of my hand, including my wrist, the back of my hand, between my fingers, and under my fingernails for at least twenty seconds. The combination of scrubbing and an antibacterial soap helps to remove germs. Then I rinse my hands in warm water, drying them well with a clean hand towel, paper towel, or air dryer. If soap is unavailable, I use an alcohol based hand sanitizer. Another factor in the prevention of poor personal hygiene is addressing the prevention of dental diseases and infections. I brush my teeth at least twice a day in a vertical or circ... ...rive in our dirty laundry baskets or hampers. I always use a different basket for my clean laundry. I separate my clothing into three piles, colored, whites, and towels, to wash separately. Washing my colored clothes and towels in cold water and my whites in hot water, I follow the directions on my detergent bottle to ensure the correct amount is used per load. I also use a cup of bleach in my white clothes. When my laundry is done, I dry, fold, and put my clothes away so they stay clean for the next time I decide to wear them. It is essential to maintain good personal hygiene to prevent the spreading of germs and bacteria and to maintain a clean lifestyle and appearance. With the always increasing populations and crowded cities, our members of culture should make sure to take a few spare minutes out of their busy days to take better care of their personal hygiene.

Race-Ethnicity and Diagnosis as Predictors Essay

The purpose of this article was to understand and examine the number of outpatients for patients with substance abuse or mental health problem. The data was collected from 12 outpatient mental health and substance abuse facilities in four U. S. Census Regions. The authors put forward three hypotheses that guided the way that they will approach the research problem. The first hypothesis was by keeping all social-demographic information constant e. g. , sex and age, the condition of non-Latino blacks and Latinos was worse when compared with non-Latino whites. The second hypothesis was that the patients with dual medical conditions e. g. mental problems and substance use disorders could be expected to visit the hospital more times when compared with patients with single medical condition. Lastly, the third hypothesis was that the number of non-Latino blacks and Latinos would have visited the hospital less frequently when compared to non-Latino whites. The target population was outpatients in the United States. The study sample of 1,899 patients with mental health and substance abuse problems was obtained from 12 outpatient mental health or substance abuse treatment centers within a period of two months (May 2001 – June 2002). Out of this number, diagnoses for 1807 patients were obtained from the medical facilities. Patients who had substance and psychiatric problems were included in the study factoring the racial-ethnicity criterion: non-Latino black, Latino and non-Latino whites. The response rate of the study was 95. 26%. This rate of success may be attributed to the fact that information was retrieved from health facilities databases. Nevertheless, specifying that the sample come from only health facilities reduces the relevance of the study because there are patients with medical and substance abuse problems and they do not visit the health facilities. External validity plays a crucial role in defining the extent of success of the project. Some information and data were missing and thus the authors had to approximate the missing data utilizing technological capabilities. However, since the data was obtained from both the public and private medical facilities indicates that all social class population was factored into the consideration. The data that were utilized were obtained from records that the medical facilities keep; hence, the data was specific and applicable in solving the hypotheses. This means that the sampling plan was appropriate to some extent (because they analyzed hospital records and not analyzing the entire community) for analyzing the effect of substance abuse and psychiatric problems. Nevertheless, the sample was not fully representative of the entire population because the sample was only picked from only 12 health facilities. Some people with psychiatric problems and substance abuse do not visit medical facilities. In the case of substance abuse, the authors could have picked additional sample from counseling and other corrective facilities such as jails. The type of study was descriptive because it tries to show the link that exists between race-ethnicity and medical conditions: mental health and substance abuse. The main threats to external validity are the extent of analysis and acquisition of the sample. The data of 92 patients was missing. However, through calculations and approximations these data was obtained, which to some extend jeopardize validity of the research. The study shows that there is some racial and ethnicity difference in substance abuse and psychiatric problems in population of non-Latino black, non-Latino white and Latinos. The study should have extended to other population type such as Hispanics and African-Americans to understand the real extent of mental conditions and substance abuse to the entire population. The independent variables were the group of the targeted population e. g. Non-Latinos white, non-Latino black and Latinos. The dependent variables are the medical conditions that were being analyzed e. g. substance abuse and psychiatric conditions. The intervening variables are the link and relationship that exists between the medical conditions and patients who accessed the medical facility. The authors were able to balance and analyze dependent, independent and intervening variables in achieving the goals of the study. The authors collected the data from outpatient facilities in twelve medical facilities. The data was obtained from the hospital databases and other recordings. Moreover, additional data was obtained through approximation of missing sample data. The authors were able to visit both public and private facilities to ensure for some external credibility. This strategy ensured that specific data was utilized in the study. Obtaining the data from medical facilities increased its validity and reliability. However, the approximation of the missing data was the main weakness and specifying the population that is analyzed e. g. obtaining data from medical facilities rather than obtaining additional data from other agencies. The data that was obtained was grouped into six parts utilizing the BASIS-24 domains with the help of PROC MI in obtaining the missing data. The authors obtained diagnosis for 1,807 patients out of the 1,899 patients. From the analysis, the authors found out that Latino and Non-Latino black patients reported worse symptoms of substance use disorders and psychiatric disorders when compared with non-Latino white. The authors found out that there was no relation between race-ethnicity with medical conditions. The study also showed that Latinos reported greater emotional liability, self-harm symptoms and interpersonal functioning compared with non-Latino blacks and non-Latino whites. Additionally, the study found out that self-harm symptoms were greater in non-Latino black when compared with non-Latino whites. The unique difference that existed between the Latinos and non-Latino blacks is that the severity of substance use disorders in non-Latino blacks is greater than that of the Latino. The authors found that the relationship that exists among the three populations types was depressive symptoms and their (population) functioning capabilities. The findings of the study differed with evidence that indicates lower rates of mental health problems between the Latino and non-Latino black populations in the treatment of substance abuse. The authors have clearly explained strengths and shortcomings that may occur. The strength of the methodology was the ability of the authors to pick specific data in hospitals and utilizing it to understand the medical condition of the population. The methodology that was utilized had various weaknesses, especially in collecting the data and analyzing it. The population that was utilized did not define the entire population because the authors utilized medical records. They could have incorporated other institutions in understanding substance abuse and psychiatric conditions. Moreover, they obtained some missing data through utilization of technological machines. This increase chances of errors in the final analysis. The authors were able to compare their findings with previous research and the conclusion indicates the entire study has achieved its goals.

A Definition of Liberal Media Bias

A  Gallup poll found that just 40% of Americans trust the media to fairly and accurately report the news. Much of this has to do with the liberal tilt of news coverage and stories. In politics, conservatives often deal with an overwhelming liberal bias within the mainstream media, which includes the news divisions of major broadcast networks and major newspapers. This is typically just referred to as media bias. Media bias does not refer to the political punditry class as political affiliations are usually known and the commentary is intended as opinion-oriented. Media bias does not refer to media figures such as Rachel Maddow, Bill OReilly, and Al Sharpton who are expected to give political viewpoints. What Is Media Bias?   Media bias refers to the allegedly objective journalists in print and media who intentionally - and sometimes unintentionally - report or cover stories in a way favorable to Democrats and liberals and unfavorable to Republicans and conservatives. Journalists such as Dan Rather, Bob Schieffer, and Wolf Blitzer who portray themselves as pure newsmen could have their biases exposed by delivering one-sided news stories. Dan Rathers attempted takedown of George W. Bush comes to mind. Examples of Media Bias Barack Obama received free passes in both the 2008 and 2012 presidential races as the media was primarily interested in highlighting the historic nature of Obamas campaign. While Sarah Palin was heavily criticized by the media as lacking the experience to be Vice-President, the question was never a major issue with the decidedly less-experienced Obama. In 2012, the media turned every statement by Mitt Romney (dogs on vacation!) into stories that lasted weeks, while at the same time refusing to cover the Fast and Furious scandal or the Benghazi attacks with seriousness. And CNNs Candy Crowley infamously interrupted a debate exchange between Romney and Obama by debating Romney herself on Benghazi. (She was wrong, but the ramifications were huge.) While VP Joe Biden could barely take the stage without making a hysterical gaffe during his tenure, his sanity or competence was never questioned in the way that Dan Quayles was for once adding an e at the end of potato during a spelling bee. That the card was given to Quayle by the school with the incorrect spelling and that Quayle had questioned the spelling on the card is the part of the story the media always enjoys ignoring. While Democrats regularly get softball question and answer sessions from serious journalists, conservatives are usually left answering absurd questions based on absurd assumptions. When a deranged gunman shot Congresswoman Gabby Giffords of Arizona, the media had absolutely no problem claiming Sarah Palin was to blame because she once had a map on her website that had used a target on it to imply that it was going to be a competitive congressional race. Unbiased, Fair and Objective   The problem with media bias is that the journalist and media personalities are claiming to be unbiased, fair, and objective but typically end up delivering one-sided viewpoints disguised as fact. Many Americans will not look deeper into every issue presented by the media, instead of taking the stories at face value. Any information that might dispel the media bias myths has to be actively sought. Pronunciation: me-di-a bÄ «Ã‰â„¢s Also Known As: Mainstream Media; Lamestream media (Sarah Palin); Dinosaur Media (Laura Ingraham) Alternate Spellings: none Common Misspellings: none Examples In a free country, people depend on the media for their information about government and other powerful institutions. If the press sounds the alarm about some danger, people have to pay attention. But if they have lost confidence in the press – because of its biases – then there’s a good chance we’ll ignore the warning. And that could be dangerous. - Bernard Goldberg on Media Bias 60 Minutes used to be synonymous with gotcha, and it certainly was when it broke the Abu Ghraib story to hurt Bush in 2004, and when Dan Rather flaunted fake Texas Air National Guard documents to hurt Bush months later. In the 2008 election cycle, â€Å"60 Minutes† asked John McCain why he would let the Wall Street executives sail away on their yachts and leave this [bailout] on the American taxpayer? They hammered Romney about avoiding military service – and his five sons avoiding military service. Kroft has never asked Obama about his failure to serve in the military, and he certainly never asked about whether he had premarital sex with his wife – which Mike Wallace threw at Romney. - Brent Bozell