Question

Your essay must include an introduction, body, and conclusion, and address all relevant parts of each question. Your response should be a minimum of 300 words in length. You must include academic sources to support your ideas. Make sure to cite all references you use. Proper citation format for a reference includes the name of the author(s), the title of the work, the date of the publication, and the page number.

a. Define how managerial accounting differs from financial accounting. Be sure to address the diverse users of managerial and of financial accounting and provide examples of how at least five users would utilize accounting information.

b. Illustrate how managerial accounting information assists managers in performing the roles of planning, directing, and controlling by providing an example of each.

c. Briefly explain how the Sarbanes-Oxley Act (SOX) affects management accountants specifically, and answer this question: In your opinion, is SOX enough to deter unethical accounting practices internally? Be specific and support your opinion with academic research.

Answer 1

Solution:

Sarbanes-Oxley Act (SOX) influences the board bookkeepers in following ways:

a) Sarbanes-Oxley Act requires the documentation and testing of inner control framework in the association which influences the working of the board bookkeepers fundamentally.

b) Sarbanes-Oxley Act expects the executives to survey their execution occasionally and in this manner, the board bookkeepers assumes a key job in evaluating the execution of the board.

c) The aftereffect of assessment work done by the board bookkeepers are legitimately recorded under the necessities of Sarbanes-Oxley act, in this way, the executives bookkeepers need to play out their undertakings precisely and in great configuration.