Accounting  |  Format: Flash

The Sarbanes-Oxley Act and Corporate Governance - Part 1 (Updated)

Course Overview
A corporate scandal involves alleged or actual unethical behavior by people acting within or on behalf of a corporation. Since the turn of the century, the U.S. has seen some large corporate collapses and scandals due to shoddy and deceptive accounting practices. Many companies, shareholders and employees suffered as stock prices fell and reputations were tarnished when businesses such as Nokia, Lucent Technologies, energy, and internet-related businesses conducted questionable practices.

The Sarbanes-Oxley Act and Corporate Governance - Part 1 (Updated), along with The Sarbanes-Oxley Act and Corporate Governance - Part 2 (Updated), examines developments in finance and accounting and a series of corporate accounting scandals on the heels of the Enron debacle that have led to current sweeping accounting guidelines, proposals, and legislation�most notably, the Sarbanes-Oxley (SOX) Act. Many of the issues surrounding the SOX Act�especially Section 404, Internal Control over Financial Reporting and Sections 302 and 906, Management Certifications�are discussed. The general issues on corporate governance and corporate social responsibility (CSR), including stock option expensing, are also covered. The illegal practice of stock option backdating is described as well.

Learning Objectives
Upon successful completion of this segment, you should be able to:

  • Recognize the sources of accounting irregularities, including the Enron scandal and Special Purpose Entities (SPEs).
  • Identify the controversy with expensing stock options and specific issues addressed by ASC 718.
  • Recognize different rules and regulations put out by the FASB, NYSE, and the SEC.

       
    Catalog Number: 99DEL45
    CPE Credits: 2 Registry / 2 QAS
    Author: Steve Spafford, CPA
    Prerequisites/
    Advanced Preparation:
    None
    Course Level: Overview
    Field of Study: Accounting
    Content Partner: SmartPros Ltd.
    QAS: QAS Certified based on 50 minute hours.
    Course Type: Self-Study
    Minimum Passing Grade: 70%
    Soft/Hardware Reqs.:  Adobe Acrobat® Reader for the .pdf files
     56k or Greater Internet Connection
     Modern DHTML Compatible Browser
     Ram: 256 MB minimum
     Windows or Mac OS
    Release/Expiration Dates: Oct 04, 2019 / Oct 04, 2021

     

     

     

     

     

     

  • http://education.smartpros.com/includes/cpe/coursedetail.asp?CPECatalogID=25565&CourseID=18707