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AnnualReports1A_CISCO02_SAMPLE

AnnualReports1A_CISCO02_SAMPLE - Understanding Corporate...

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Understanding Corporate Annual Reports Financial Accounting 1A – Online By: Student Name Dr. Seyedin References: www.ibm.com/financial guide www.aicpa.org/info/Sarbanes-Oxley2002.asp www.sec.gov A. What is an annual report? Enter a short answer here. B. Name the federal government agency that requires a publicly held corporation to keep shareholders informed of its state of business. Enter a short answer here. C. What is the purpose of auditing financial statements? Enter a short answer here. D. What is the name of rules and regulations used to prepare financial statements? Enter a short answer here. E. Name two other primary financial information sources. Enter a short answer here. F. What type of information is provided in the statement of earnings? Enter a short answer here. G. What type of information is provided in the statement of financial position? Enter a short answer here. H. What type of information is provided in the statement of cash flows? Enter a short answer here. I. Briefly explain the purpose of Public Company Accounting Oversight Board (PCAOB). Enter a short answer here. J. Under the new rules of the Sarbanes-Oxley Act of 2002, to whom does an auditor report? Enter a short answer here. K. What caused the new rule to be created? Enter a short answer here. L. Under the new rules of the Sarbanes-Oxley Act of 2002, name eight types of services that are "unlawful" if provided to a publicly held company by its auditor. Enter a short answer here. M. What is the mission of SEC? Enter a short answer here. N. How many commissioners does SEC have and who appoints them? Enter a short answer here. O. How many divisions and offices does SEC have? Enter a short answer here.
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