Integrated Knowledge
Outcome 2 - Relate and integrate knowledge of domestic and international regulatory standards and legal accounting controls to real-world situations.
My Artifacts demonstrating mastery of this outcome
artifact_1_-_mediation_arbitration_services_macc_511_legal_asspects_financial_and_commercial_trade.doc | |
File Size: | 29 kb |
File Type: | doc |
artifact_2_-_sarbanes-oxley_act_of_2002_macc_561_auditing_and_forensic_accounting.docx | |
File Size: | 30 kb |
File Type: | docx |
artifact_3_-_homework_assignment_1_acct_490_auditing_theory_and_practice.doc | |
File Size: | 45 kb |
File Type: | doc |
My Reflection on meeting this outcome
Artifact 1 – Mediation Arbitration Services was a paper I did for my Legal Aspects Financial and Commercial Trade class. Through this class I have learned that there are some instances when a company has some legal issues that may come up. In some cases the two individuals or companies can go through mediation arbitration services to help settle their differences. If they do use the mediation arbitration services it could save the company a lot of money because they would not have the large amount of lawyer fees and court cost that go along with it, and that would all be on top of the money they may have to pay out to the individual or company that was on the other side of the issue.
Artifact 2 – Sarbanes-Oxley Act of 2002 was a paper that I completed for my Auditing and Forensic Accounting class. Through this class I have learned about the Sarbanes-Oxley Act of 2002, which had a major impact on the accounting world. The government needed to do something since the great Enron scandal. This had a large impact on many people. It drained a lot of retirement accounts, which has caused some of our older generation to have to work even longer. With the Sarbanes-Oxley Act there are new rules and regulations put into place that can help us from having this happen again. I would have to say that if this were to happen again it could cause a major problem.
Artifact 3 – Homework assignment 1: This is my assignment from the first week of class for Auditing. In this assignment I have showed my knowledge of how to I can examine financial statements and apply legal knowledge I have learned through the classes I have taken. Through auditing classes you learn all about the separations of duties. By making sure you keep the separation of duties in the work place because it can truly cut down on a lot of issues that can cause fraud. And that is a large issues in the work place today.
Artifact 1 – Mediation Arbitration Services was a paper I did for my Legal Aspects Financial and Commercial Trade class. Through this class I have learned that there are some instances when a company has some legal issues that may come up. In some cases the two individuals or companies can go through mediation arbitration services to help settle their differences. If they do use the mediation arbitration services it could save the company a lot of money because they would not have the large amount of lawyer fees and court cost that go along with it, and that would all be on top of the money they may have to pay out to the individual or company that was on the other side of the issue.
Artifact 2 – Sarbanes-Oxley Act of 2002 was a paper that I completed for my Auditing and Forensic Accounting class. Through this class I have learned about the Sarbanes-Oxley Act of 2002, which had a major impact on the accounting world. The government needed to do something since the great Enron scandal. This had a large impact on many people. It drained a lot of retirement accounts, which has caused some of our older generation to have to work even longer. With the Sarbanes-Oxley Act there are new rules and regulations put into place that can help us from having this happen again. I would have to say that if this were to happen again it could cause a major problem.
Artifact 3 – Homework assignment 1: This is my assignment from the first week of class for Auditing. In this assignment I have showed my knowledge of how to I can examine financial statements and apply legal knowledge I have learned through the classes I have taken. Through auditing classes you learn all about the separations of duties. By making sure you keep the separation of duties in the work place because it can truly cut down on a lot of issues that can cause fraud. And that is a large issues in the work place today.
My Future Learning Goals related to this outcome
With having learned this information in my classes I will be able to further my career and follow the rules and regulations that are set in place for accounting professionals. I have learned that these rules and regulations are put into place for a reason and with out them our world could be in some major trouble financially. I will be able to use this information in all of my positions and it will show employers that I know what is right and what is wrong when it comes to possibly hiring me as an employee. When a firm is looking to hire a new employee it is very important to make sure that employee knows all the rules and regulations because if they do not know the proper process and happen to do something in correctly then that could cost the firm their reputation as well as a large fine.
With having learned this information in my classes I will be able to further my career and follow the rules and regulations that are set in place for accounting professionals. I have learned that these rules and regulations are put into place for a reason and with out them our world could be in some major trouble financially. I will be able to use this information in all of my positions and it will show employers that I know what is right and what is wrong when it comes to possibly hiring me as an employee. When a firm is looking to hire a new employee it is very important to make sure that employee knows all the rules and regulations because if they do not know the proper process and happen to do something in correctly then that could cost the firm their reputation as well as a large fine.