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what is sox?
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Answer / h.r. sreepada bhagi
SOX - Sarbanes–Oxley Act of 2002 (USA). Also known as the
'Public Company Accounting Reform and Investor Protection
Act' (in the Senate) and 'Corporate and Auditing
Accountability and Responsibility Act' (in the House) and
commonly called Sarbanes–Oxley, Sarbox or SOX, is a United
States federal law enacted on July 30, 2002. It is named
after sponsors U.S. Senator Paul Sarbanes (D-MD) and U.S.
Representative Michael G. Oxley (R-OH).
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Answer / chandann87
soleben-oxeley act made by us congress in 2002 to protect the
investors interest..
| Is This Answer Correct ? | 7 Yes | 4 No |
Answer / gunjan thakur
Sarbanes-Oxley is a US law passed in 2002 to strengthen
Corporate governance and restore investor confidence
Sarbanes-Oxley law passed in response to a number of major
corporate and accounting scandals involving prominent
companies in the United States. These scandals resulted in a
loss of public trust in accounting and reporting practices.
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / raghavendra
In terms of Finance/Accounting terminal of real working
life, SOX is a quarterly report (prepared every 03 months).
The importance of this report reflects the closing of that
particular period/quarter we worked for. This report
consists of the quarterly Valuations (which we receive
through the Private equity firms). Basically, we prepare
this report to figure out whether is there any variance
between the values which we enter in our accounting software
(the valuations received from Private equity firms) which we
compare this report through the holdings report provided by
the SSB / SSC (State street bank / Corp.
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purchased a laptop for Rs.50000 and received one calculator costing Rs.1000 for free. Both laptop and calculator (stationery in nature) are meant for office use.What will be the journal entry in the books of both the parties?
DHPL is a small sized firm manufacturing hand tools. It manufacturing plan is situated in haryana. The company's sales in the year ending on 31st march 2007 were Rs.1000 million(Rs.100 crore) on an asset base of Rs.650 million. The net profit of the company was Rs.76 million. The management of the company wants to improve profitability further. The required rate of the company is 14 percent.The company is currently considering an investment proposal. One is to expand its manufacturing capacity. The estimated cost of the new equipment is Rs.250 million. It is expected to have an economic life of 10 years. The accountant forecasts that net cash inflows would be Rs.45 million per annum for the first three years, Rs.68 million per annum from year four to year eight and for the remaining two years Rs.30 million per annum. The plant can be sold for Rs.200 million: (a) The company can borrow funds from a nationalized bank at the interest rate of 14 percent for 10 years. It will be required to pay equal annum installment of interest and repayment of principal. (b) A financial institution has offered to lend money to DHPL at 13.5 per annum but it needs to pay equated quarterly installment of interest and repayment of principal. Questions: (1) Should the company expand its capacity? show the computation of NPV. (2) What is the annual installment of bank loan? (3) calculate the quarterly installment of the financial institution loan. (4) should the company borrow from the bank of from the financial institution?
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