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Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
ISBN: 9781337552127

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BuyFindarrow_forward

Accounting Information Systems

11th Edition
Ulric J. Gelinas + 3 others
ISBN: 9781337552127
Textbook Problem

Read Section 409 from the Sarbanes-Oxley Act of 2002. Do you agree that this supports real-time financial reporting? Research both sides of the issue and provide a conclusion based on your findings.

Summary Introduction

To explain: The view of Person X.

General ledger/business reporting process (GL/BR):

General ledger can be defined as the central data repository needed to develop the business reports. The business reports and other forms of information generation are all derived from the general ledger data repository. The GL/BR process is considered as a central activity of the accounting information systems.

Explanation

The view of Person X:

Section 409 states that the organization must reveal to the public on a current and periodic basis on the material changes that have taken place with related to the financial activities and related operations.

If the company has already set up a control process to adhere with section 409, then the real-time financial reporting becomes trivial...

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