Need help with my writing homework on MBA Applied Managerial Finance 615. Write a 750 word paper answering; Introduction The enactment of the Sarbanes-Oxley Act into law on July 30,2002 was in response to the various corporate and accounting malfeasance committed by various company such as Enron and WorldCom with the intent of restoring the public’s onfidence in America’s businesses. There are two important sections in the Sarbanes-Oxley Act which are Section 302 which requires certification of the signing officers and Section 404 which mandates companies to publish their financial repors.

The Section 302 of Sarbanes Oxley

Section 302 of Sarbanes Oxley Act include certifications that signing officers have reviewed the report that it did not contain any false information either by omission or by misleading and that the financial statement fairly reflects the true financial condition of the company (www.soxlaw.com a, 2003). In addition, the signing officers must have also reviewed the internal controls of the company. Section 404 of Sarbanes-Oxley Act on the other hand mandates that issuers are required to publish their annual reports “concerning the scope and adequacy of the internal control structure and procedures for financial reporting. This statement shall also assess the effectiveness of such internal controls and procedures” (www.soxlaw.com b, 2003).

In the case of Apex Printing, they have only complied with the Section 404 of Sarbanes-Oxley Act which is the requirement to publish their annual reports and its attending internal control structure but it is not yet certified by signing officers that the financial information that they will publish is materially true and accurate. In effect, it is like making known the company’s financial information without ensuring its accuracy which is susceptible to misrepresentation if not downright unethical.

The importance of being compliant in the Section 302 is not only to avoid criminal liability from regulatory agencies such as Security of Exchange Commission but also to become an ethical company. In an age of heightened public awareness against corporate malfeasance, it will not be right to skirt laws which are designed to protect the interest of the various shareholders of company from fraud. It will hurt the reputation of the company which has numerous repercussions from not being able to do an IPO to source external funding to non-patronage of its products or services in the market due to the suspicion of its customers that the company is a fraud.

Considering the various repercussion of non-compliance to Section 302 of Sarbanes Oxley Act, that ranges from a) non-launch of an initial public offering (IPO) of equity shares which will deny the company the much needed additional external funding b) potential legal ramifications for non-compliance which will have an implication of c) hurting its reputation in the market as an unethical company resulting to non-patronage of its product and services, it is therefore an imperative Apex Printing to comply with Section 302 of Sarbanes Oxley Act.

References

Sarbanes-Oxley Act Section 302. Sarbanes Oxley 302 Made Easier.. (n.d.).Sarbanes-Oxley Act Section 302. Sarbanes Oxley 302 Made Easier.. Retrieved April 13, 2014, from http://www.soxlaw.com/s302.htm

Sarbanes-Oxley Act Section 404. Sarbanes Oxley 404 Made Easier.. (n.d.).Sarbanes-Oxley Act Section 404. Sarbanes Oxley 404 Made Easier.. Retrieved April 10, 2014, from http://www.soxlaw.com/s404.htm

Reply 1

This paper validates that my research and understanding of the Section 302 of Sarbanes Oxley Act is correct. Especially when our interpretation is consistent that non-compliance with the Act has various repercussions such as the loss of credibility and criminal or civil prosecution from regulatory agencies. I expanded my interpretation however that the loss of credibility or the hurting of corporate reputation has an economic repercussion in the market as people will patronize the products and services of companies whom they doubt to have unethical practices such as non-compliance to regulatory agencies. This could hurt more than the criminal liability from the regulatory agencies because it undermines the viability of the business in the market.

Reply 2

In this paper, I learned that we both acknowledged that Sarbanes Oxley Act was crafted in response to the various corporate and accounting frauds that resulted in large number of people losing money and employees losing their jobs not to mention that it precipitated the global recession. In this paper, the criminal liability of the CEO and CEO for fraud is stressed. In my paper however, I did not entertain the idea of launching an IPO abroad just to avoid compliance with Section 302 of Sarbanes Oxley Act. Launching an IPO elsewhere to avoid regulations will surely be noticed by potential investors and will defeat the purpose of sourcing external funds because investors will not trust the company.

Your assignment is to prepare and submit a paper on personal exploration of knowledge. The term knowledge is used to mean a certain understanding of an issue with the capacity to utilize it for a definite reason. Cognitive Processes such as perception, learning, communication, association, and reasoning are involved in knowledge acquisition.

In this paper, our objective is to analyze the idea of knowledge as acquired through the exposure of a subject to stimuli. In this case, we will study the case wherein knowledge is acquired through experience. Moreover, it is our goal to evaluate the sensory experience obtained from an organized activity and from an unstructured activity.

Like what the elders usually says, the experience is the best teacher. It is through experience that we learn practical things that don’t have any scientific explanation or that there is no available reason that is justifiable. This generally discusses or covers how we deal with life. how we define our individuality, we play our role in society, and how we react in a given situation, and our responsiveness to outside forces. Knowledge can be obtained in a process called learning. In psychology and education, learning theories are attempts to explain how people or even animals learn which then aids us to understand the intrinsic course of learning. There are three main philosophical frameworks where we can categorize learning: behaviorism, cognitivism, and constructivism (Dunn, 1997).

The sensation is a term widely used to describe the reaction or responsiveness of a person to a given stimulus. Generally, it is used to refer to the subjective experience resulting from stimulation of a sense organ. Scientifically, the study of sensation is the study of the operation of the senses. Aristotle recognized only five senses — vision, hearing, taste, smell, and touch, each associated with a particular sense organ. On the other hand, James Weldon Johnson defined sensation as the state of heightened interest or emotion. In this sense, sensory experiences can be both obtained from either experiencing it through our five senses or by stimulation wherein we react to a given stimulus which can then gives us different feelings and emotions towards different things.