Week 7 Homework Assignment: CPA Horizons 2025 Four Important Themes In Accounting Profession Pre-certification and lifelong Learning: Pride in the profession: Value Proposition: World-wide Profession: SOLUTIONS  The AICPA sponsored a research in 2010 to look at the prospects for CPAs and the accounting industry. The article lists ten areas that every accountant should research in order to succeed over the next 10 to 15 years. Overall, the future seems promising as long as th...

Week 5 Homework Assignment: AICPA Code of Professional Conduct I). AICPA Code of Professional Conduct II). What AICPA code section would cover XBRL from the standpoint of an accountant providing misleading information that is ……….. posted to XBRL and please provide a rationale for that position. SOLUTION  Week 5 Assignment—AICPA Code of Professioal Conduct The American Institute of Certified Public Accountants (AICPA) was created to govern the conduct of all certified pu...

Week 4 Homework Assignment: Code of Ethics Do you agree with the authors that a code of ethics should do more than stablish minimum acceptable standards? Why? Or Why not? Describe the five cardinal virtues of professional accountants that the article’s authors discuss. We’ve talked about rules-based versus principles-based accounting standards. Should we have rules-based ethics standards? Why or why not? Should they tell you exactly what to do in specific ethical situations? Compar...

Instruction   Access the codification database through your course shell and give a summary (1 paragraph) of each of the below references ASC 830-230-55-1 ASC 926-330-35-1 ASC 954-440-25-2 ASC 710-10-05-6 SOLUTION   Over two hundred persons from various accounting and financial institutions provided feedback on the FASB Codification before it was published in 2009. When it was first conceived, the goal of this project was to make U.S. Generally Accepted Accounting Principles...

Instructions  Description of Mexico’s Process to adopt IFRS. Did Mexico adopt IFRS or did they make changes to IFRS to adapt it to its country’s culture or regulations? Adoption of IFRS on Mexico companies made it easier to access the capital market. Based on your research regarding your selected country, should the US SEC mandate adoption of IFRS? Why or why not? What is your personal opinion regarding whether the US SEC should mandate the adoption of IFRS? SOLUTION   The P...

Instructions   Read the article “Ethics Evolution in the Era of Sarbanes- Oxley.” This article is part of the readings for the week and can be found through the DeVry online library. The last sentence of the article says “Maintaining a culture that emphasizes ethics and compliance is challenging.” Do you agree or disagree with this statement? Locate an article on an accounting scandal from the past 20 years. Summarize the article for the class and either add the article to your post or i...

Week 1 Homework Assignment: The Sarbanes-Oxley Act The case of Phar-Mor Inc. Waste Management Case 1990 Enron Scandal early 2000’s SOLUTION  Abstract Investor confidence in the financial reporting system was the driving force for the Sarbanes-Oxley Act of 2002. Phar-Mor is a good example of a company that falsified inventory at the majority of its retail locations to cover up significant fraud perpetrated by its top executives. For example, in the Waste Management affair, the...