Represent the difference between what is right and wrong
Ethics
Attempting to influence a person of authority by offering something
of value is considered a
Bribe
The Financial Accounting Standards Board oversees
GAAP
Ethical obligations to society and the environment
Social responsibility
The Securities and Exchange Commission is the ____ authority requiring publicly traded companies to submit accurate financials.
ultimate
Which organization represents the main authority to promote investor confidence by ensuring that publicly traded companies provide accurate financial information?
SEC
Buying and selling securities also means to
trade
State and local governments are also considered
municipalities
Municipalities are allowed to sell _____ to fund projects.
bonds
The shareholder’s equity and retained earnings statement include information about a company’s
stock
_____ is the trading of securities based on non-public information. This is illegal.
Insider trading
_____ is a plan to reorganize debt by eliminating or reducing the amount owed to creditors and shareholders.
Bankruptcy
Auditing firms have a duty to independently review financials to prevent and minimize
fraud
Which entity has a duty to independently review financials to prevent and minimize fraud?
auditing firms
Refers to interfering with an investigation
Obstruction of justice
The SEC can bring _____ charges against the entities who commit fraud.
criminal
The Sarbanes-Oxley Act of 2002 provided additional laws and regulations for ________ traded U.S. companies
publicly
The Sarbanes-Oxley Act of 2002 provided
additional laws and regulations for publicly traded U.S. companies
The balance sheet for governmental agencies _____ corporate balance sheets.
is similar to
IFRS is _____ across the world.
widely used