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Full-Text Articles in Business
Sox Section 404 Material Weaknesses Related To Revenue Recognition, Dana R. Hermanson, Daniel M. Ivan, Susan H. Iva
Sox Section 404 Material Weaknesses Related To Revenue Recognition, Dana R. Hermanson, Daniel M. Ivan, Susan H. Iva
Faculty and Research Publications
The article analyzes disclosures of material weaknesses in internal control after the implementation of U.S. Sarbanes-Oxley Act of 2002 (SOX) 404 and summarizes the efforts of firms to remediate such material weaknesses. According to SOX section 404, management must issue a report on the effectiveness of the internal control of the firm over financial reporting. It notes that a report must be issued by the external auditor expressing an opinion on the effectiveness of internal control over financial reporting.
Oil And Gas Financial Reporting Using The Usgaap Xbrl Taxonomy, Tim Mahon, Ernest Capozzoli
Oil And Gas Financial Reporting Using The Usgaap Xbrl Taxonomy, Tim Mahon, Ernest Capozzoli
Faculty and Research Publications
The Oil and Gas industry has very unique requirements in reporting oil and gas producing activities. Because of these unique requirements, it has been difficult to compare Oil and Gas companies over the years. The current XBRL US taxonomy includes standardized Oil and Gas disclosures. This paper will introduce the requirements Oil and Gas companies are to follow when reporting their financial information. Also, an analysis of the U. S. GAAP taxonomy was done by tagging Anadarko’s 2006 financial statements1. The analysis was to determine if the taxonomy includes elements for each of these requirements. Finally, conclusions of the analysis …