Unit 10 Writing assignment Rich Pugh

Unit 10 Writing assignment Rich Pugh - Being able to pay...

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Several key concepts come to mind upon reflecting on these past 10 weeks. Learning about internal controls that the Sarbanes-Oxley Act of 2002 has set in place to safeguard assets, process information accurately and ensure the compliance with laws and regulations to deter fraud and misleading financial information. Using proper control procedures, companies can help ensure investors that they are being honest in their reports and stop theft from within the corporation. Also, rotating duties of employees and making vacations mandatory helps a company spot and find employees that may be involved in fraudulent activities. Learning how stock is issued and how dividends are paid was interesting concept. I knew little about stocks and how they were accounted for. I did not realize that companies did not have to pay dividends even if they are showing a profit. It would not be advisable to not pay dividends to investors if they are available however.
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Unformatted text preview: Being able to pay dividends consistently will make any companys stock more attractive to new investors and keep current investors with the company. Aside learning about the Sarbanes-Oxley Act and the issuance of stocks and their dividends, I have learned about other concepts as well. The statement of cash flows was the hardest concept I had to learn. In the end, I feel I grasped how the information fits into the statement and would feel comfortable in making one again when I need to. This course has broadened my knowledge in the accounting field. I feel this course has prepared me for my next courses in my pursuit of an accounting degree. It has encouraged me to continue learning accounting concepts and procedures. It would be a dream come true to run my own accounting firm but being the head of an accounting department would be a realistic and happy goal as well....
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