
Ch10 Corporate Governance and Financial Reporting

Flashcard
•
Business
•
University
•
Hard
Krystal Huffman
Used 1+ times
FREE Resource
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20 questions
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1.
FLASHCARD QUESTION
Front
Corporate Governance
Back
Governance activities influence public perception of an entity's citizenship responsibilities.
2.
FLASHCARD QUESTION
Front
Corporate Governance
Back
involves business ethics, social responsibility, equitable treatment of stakeholders, full and fair disclosure, and board responsibilities.
3.
FLASHCARD QUESTION
Front
Public Company Accounting Oversight Board (PCAOB)
Back
Acts as a watchdog of the accounting and auditing profession.
4.
FLASHCARD QUESTION
Front
Financial Reporting Misstatements
Back
Big R: Re-issue full financial statements for material errors.
Little r: Revise immaterial misstatements or adjustments in normal business.
5.
FLASHCARD QUESTION
Front
Sarbanes-Oxley Act of 2002
Back
Enhanced regulations for financial accounting and reporting, requiring numerous restatements from 2004-2006, tighter controls, and improved reliability.
6.
FLASHCARD QUESTION
Front
Earnings Manipulation
Back
Includes recording revenue too soon, bogus revenue, boosting income with unsustainable activities, and shifting expenses to alter financial periods.
7.
FLASHCARD QUESTION
Front
Cash Flow Manipulation
Back
Involves shifting financing cash inflows to operating activities, moving operating cash outflows to investing, and inflating cash flow using acquisitions or disposals.
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