Full Disclosure Paper

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Full Disclosure Paper ACC/421 Full Disclosure Paper Disclosure is information regarding an activity of financial records that creditors, investors, and humans should know what when on in the company or organization regarding the finances increase or decrease. This includes strikes in the company, major fire, theft, a bad product, or a product that is at a high-demand regarding the time of year. Hurricane season in Houston a few years back. The weather reporter states that Houston, Texas is at threat of developing a hurricane, which will hit a specific area. The area has to prepare for the bad storm. The people in the area may have to leave their homes or stay and ride out the storm. The majority the people…show more content…
All store reopen the next day, lights was out for an hour, which did not damage the frozen food or meat. The stores were less water and can goods, until the trucks arrive later in the week for a delivery. The stores in Katy made a profit on the hurricane. Gasoline sold out longer than the other stores. Most of the gasoline comes from the Bay City, Beaumont area that hit hardest from the storm. Those areas where the storm hit had to take a loss for the month. They could not open their doors for a few weeks cause of no lights in the area and no items delivered to stores for a long while. Downtown Houston was out of commission for two weeks or more. The company downtown has to write a disclosure on their financial statements of the loss. A company or organizations, which are not privately, own and do not disclose certain items in their financial statement, this will influence the judgment of the companies’ stakeholders’ ethical behavior and concerns. Companies that do not fully disclose all items possibly charged with fraud. Disclosure notes should be disclose on business statements’ with the correct amounts related to the increase or decrease of an account to present measure of quantities reflected. Sarbanes Oxley Act known as the SOX Act offer guidelines companies and organizations should conduct their financial reporting. Not reporting balance sheets or financial statements the way SOX
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