Explain the Relevance of the Sarbanes Oxley Act to the Documentation

question 8

Essay

Explain the relevance of the Sarbanes Oxley Act to the documentation tools presented in this chapter.

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Definitions:

Service Fee

A charge imposed for the provision of a service, often additional to the regular cost of goods or services sold.

Perpetual Inventory System

An accounting method that continuously tracks inventory levels by adjusting them with each sale or purchase transaction.

Journal Entries

The method by which financial transactions are recorded in the accounting records of a business, detailing the accounts affected and the amounts.

Maturity Date

The date on which a financial obligation must be repaid or a bond or other instrument reaches its expiration and the principal is due back to the investors.