Case 2 Jamaica Water Properties I Essay

The Securities and Exchange Commission (SEC) establishes and improves standards of financial accounting and reporting for the guidance and education of the public.

Following a number of discovered fraud scandals committed by well-known corporations and in order to restore public confidence in the stock market and trading of securities, the United States congress passed the Sarbanes-Oxley Act in the year 2002. As a result of the act endorsement by the New York Stock Exchange and the Securities and Exchange Commission, among many other national overseeing committees, a number of rules and regulations were proposed and adopted and that demanded new processes and programs be instilled for ensuring compliance with the requirements of the new law. The new rules and regulations pertaining to the enacted law have a common goal:

“Financial Statements…provide key information for internal and external decision making.” (Horgren, et al., 2015). Through analysis of the financial information of both JB Hi-Fi and Dicksmith, I have found that investing within JB Hi-fi would be a more profitable and beneficial for shareholders. Moreover not only does JB hi-fi’s financial information (Appendix 1) show that return on Shareholder’s equity is close to 48% of each dollar

The Sarbanes-Oxley Act was security law that birthed from corporate and accounting scandals. The act’s name derived from Senator Paul Sarbanes and Congressman Michael G. Oxley. Oxley is a congressman who introduced his Corporate and Auditing Accountability and Responsibility Act to the House of Representatives. Sarbanes was a senator who proposed his Public Company Accounting Reform and Investor Protection Act to the Senate in 2002. After the public kept on demanding for a reform, both of the proposed acts passed and President George W. Bush

The Sarbanes-Oxley Act was placed into effect July 2002; the act introduced major changes to the regulation of corporate governance and financial practice. The Sarbanes-Oxley Act was named after Senator Paul Sarbanes and Representative Michael Oxley, who were the main architects that set a number of non-negotiable deadlines for compliance. The organization for Economic Cooperation and Development was one of the first non- government organizations to spell out the principles that should govern the corporate and issued the OECD Principles of Corporate Governance. The Sarbanes Oxley Act also known as Public Company Accounting Reform and Information Protection Act and

The Sarbanes-Oxley Act is a federal law that was enacted in 2002. Enron and other similar corporate scandals led to the passing of this act. The Sarbanes-Oxley Act (SOX) is also known

The Sarbanes-Oxley Act of 2002 was passed by congress in 2002 and has been instrumental in protecting investor from fraud. The Act was passed to respond to the accounting malpractices of many corporations such as ENRON, who conducted many deceiving practices. It Is also known as the SOX Act and it required strict reform to improve financial disclosures from corporation to prevent fraud. This has been instrumental and has brought a higher level of accountability to companies.

1. What are some ways that you can “promote an ethical culture” where you work?

The problem to be investigated is the application of business ethics. In the business world, ethics are extremely important. Ethics are prime elements that help a business to grow and to become more productive. It is by applying proper business ethics that a business can operate in a moral or ethical business environment and managed to conduct all activities in a manner that maximizes profits while not compromising all other non-economic concerns(Schwab, 1996). Businesses have over the years failed to nurture business ethics in order to fulfill shareholders' interests and to have a culture that is oriented towards profit maximization and high performance(Jennings, 2012; Sims & Felton, 2006). This has led business to have gray areas in their activities. Gray areas are those situations or problems that do not fit exactly into any ethical analysis. These are the activities which may be represented to be immoral as a result of lying and false representations on the part of the business.

In this case, we are introduced to CEO John McDonough and his management team with Newell Company, a major manufacturer of hardware and home furnishings, office products, and housewares. A publicly owned corporation, Newell has made its name on mergers and acquisitions. Edgar A. Newell founded the company in 1902 after buying the assets of a manufacturer of brass curtain rods that had previously filed bankruptcy. In the years following, Newell Company has seen several management changes, and its also seen major growth and profitability making it tops in its respective market.

The Sarbanes Oxley Act came into effect in July 2002; it was put in place to introduced mayor changes to the regulation of corporate governance as well as financial practice. This act was named after a Senator named Paul Sarbanes and a Representative named

In 2002 the Sarbanes-Oxley Act was passed. This is a mandatory act that all organizations, large and small, must comply with. This legislation introduced major changes to the regulation of financial practice and corporate governance. There are eleven titles to the Sarbanes-Oxley Act. The act is named after its main architect, Representative Michael Oxley and Senator Paul Sarbanes. Former President Bush is quoted saying that it is intended to “deter and punish corporate and accounting fraud and

Congress passed the Sarbanes-Oxley Act of 2002 (SOX) in an effort to protect U.S. capital markets and millions of American shareholders. SOX promote accountability and transparency in

When examining Jeff Hawkins business model during his time as CEO with handspring there was no definitive answer. Hawkins Business model seemed more like a question. “How do you make an exciting product that's pushing the envelope in some ways, but on the other hand is usable and accessible to a very broad populace?”(Barnett, 2000). Hawkins had a business model that relied on strategic partners to perform business tasks such as manufacturing and distribution.

Workbrain Corporation is on the cusp of a dramatic expansion. David Ossip, the President and CEO, has hired Eric Green to manage Workbrain’s corporate development plan. In other words, Green’s task is to bring Ossip’s vision to life. Workbrain’s current organization state lacks structure, focus, and functional direction. The company is performing well but the coming expansion will require more extensive infrastructure. The external environment can be characterized by building pressure from investors, clients, and the marketplace—all driven by the innovative characteristics of their product and industry. Workbrain management currently prefers generalists rather than specialized employees. A key resource for Workbrain is