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.

Textbook: DFD and Ethics Assignment Instructions

Instructions

Textbook/Essay Assignment :

Sunnyvale Electrical. sells electrical parts to electrical contractors in the southeastern United States. Sunnyvale Electrical customers mail their payments attached to the stub (i.e., remittance advice [RA]) from their monthly statement to Sunnyvale Electrical accounts receivable (AR) office. An AR clerk confirms that the check amount agrees with the amount on the RA and sends the checks to the cashier.

The AR clerk prepares batch totals of the customer numbers, invoice numbers, and amount paid. The AR clerk then enters the batch totals and RAs into the computer, where the AR master data are updated to record the payment.

The computer reconciles the batch totals, confirms job completion, and reports discrepancies, if any, to the AR clerk. Refer to chapter 11 and 4 for help in the diagrams and tables. Use word or excel for the diagrams.

Problem 1 prepare a table of entities and activities
Problem 2 draw a context diagram
Problem 3 prepare an annotated table of entities and activities. Indicate on this table the groupings, bubble numbers, and bubble titles, to be used in preparing a level 0 logical DFD.
Problem 4 Draw a level 0 logical DFD.

Problem 5 Essay –

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.

What is the overall significance of the Sarbanes-Oxley Act of 2002 to financial reporting?

Requirement:

Review the website Soxlaw.com to provide an essay of your opinion on the questions in problem 5.

This should include Section 409 and other accounting references to help support your opinions. The essay should be in current APA formatting and include a reference section.

Note:

Your assignment will be checked for originality via the Turnitin plagiarism tool.

View the Textbook:

DFD and Ethics Resources section under the Textbook: DFD and Ethics page.

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