Do not use Wikipedia, Investopedia, ehow.com, dictionary.com, or any other website that does not have credibility! They will not be accepted as citations.
Use the 2 attached references below in the paper to also include 3 additional references:
International Financial reporting Standards (IFRS) - Pearson Custom Business Resources/Library, Published by Pearson Learning Solution, Copyright 2014 by Pearson Education: https://view.ebookplus.pearsoncmg.com/ebook/
Likely Effects of stock exchange Governance Proposal and Sarbanes-Oxley on Corporate Boards and financial reporting. -REF-Klein, A. (2003). Likely effects of stock exchange governance proposals and sarbanes-oxley on corporate boards and financial reporting. Accounting Horizons, 17(4), 343-355. Retrieved from http://search.proquest.com.ezproxy.saintleo.edu/docview/
The writing assignment must cover the following topics from the course textbook references attached and external sources:
1. Financial and Managerial Accounting
a. Role of accounting in society
b. Focus on international issues
c. Preparing financial statements
d. Horizontal financial statement model
e. The effects of Sarbanes-Oxley Act on financial reporting
Managerial and financial accounting Name Course Instructor Date Background Financial information provides financial information to stakeholders’ mostly external users to facilitate evaluation of past performance. On the other hand, management accounting provides information to the managers who undertake the planning, controlling and decision making functions. Financial accounting information must then adhere to accounting standards while following the prescribed format while preparing financial statements unlike management information that may differ depending on a department needs or company’s operations. Governments, auditors and investors are interested in financial information that is verifiable. Accounting plays diverse roles in society, while international issues complicate preparation of financial statements under different jurisdictions. Accountants may choose the horizontal financial statement model to determine changes how individual items affect the financial statements. The adoption of the Sarbanes-Oxley Act resulting in improved governance and oversight of the financial reporting system. Role of accounting in society Technology adoption and globalization have impacted on the accounting profession. To take into account these changes there is a need to assess accurate financial information quickly and easily (Raj & Seetharaman, 2012). As such, accountants provide information to decision makers responsible for planning, implementing and exe...