The Sarbanes Oxley Act was issued in 2002 in response to the many corporate scandals to help reduce fraud, improve the reliability of financial reporting and restore public confidence in the accounting profession. Identify a financial reporting fraud that occurred prior to 2002 and discuss how the requirements of SOX could have prevented the fraud from occurring.
In: Accounting
Explain the ways in which an athletic department is similar to a typical academic department.
Explain the ways in which an athletic department is different to a typical academic department.
How does this help explain the different ways that the university administration treats each?
In: Economics
Provide information regarding the job market and future job trends as they relate to your potential career What academic and other training / preparation are required to enter this career?
What academic and other training / preparation are required to enter this career?
In: Operations Management
The effectiveness of data mining has been criticized by the Wall Street Journal. In one arti- cle, the author notes that academic studies have shown that by using data mining, analysts could accurately predict changes in the stock market based on either the population of sheep in Bangladesh, the number of nine-year-olds at a given time, or whether it is smoggy on a given day.4 While the statistical correlation may be valid, there must be a logical reason that a particular factor will predict stock returns. LO 10-2
Required:
a. Do you think these findings represent valid relationships or spurious correlations?
b. What measures do you think might be valid predictors of stock market returns?
In: Finance
Description
The purpose of this assignment is to demonstrate understanding of basic alterations in vision and hearing.
Compose a short (1.5 – 2.5 page) essay explaining one common alteration in vision and one common alteration in hearing. You should briefly describe the pathophysiologic changes, prevalence, manifestations, and treatment for each. You should also explain the mechanism that the specific treatment uses to return a normal functioning state. You may select a disease process from the book, but will need to use additional resources to provide all the information required for the essay. The essay should be structured, and follow a logical format. Remember to cite your sources, consistent with the academic integrity policy of Doane. APA format is required.
In: Nursing
Compute and Interpret Liquidity, Solvency and Coverage
Ratios
Balance sheets and income statements for Lockheed Martin
Corporation follow. Refer to these financial statements to answer
the requirements.
| Income Statement | |||
|---|---|---|---|
| Year Ended December 31 (In millions) | 2005 | 2004 | 2003 |
| Net sales | |||
| Products | $ 31,518 | $ 30,202 | $ 27,290 |
| Service | 5,695 | 5,324 | 4,534 |
| 37,213 | 35,526 | 31,824 | |
| Cost of sales | |||
| Products | 27,882 | 27,637 | 25,306 |
| Service | 5,073 | 4,765 | 4,099 |
| Unallocated coporate costs | 803 | 914 | 443 |
| 33,758 | 33,316 | 29,848 | |
| 3,455 | 2,210 | 1,976 | |
| Other income (expenses), net | (449) | (121) | 43 |
| Operating profit | 3,006 | 2,089 | 2,019 |
| Interest expense | 370 | 425 | 487 |
| Earnings before taxes | 2,636 | 1,664 | 1,532 |
| Income tax expense | 811 | 398 | 479 |
| Net earnings | $ 1,825 | $ 1,266 | $ 1,053 |
| Balance Sheet | ||
|---|---|---|
| December 31 (In millions) | 2005 | 2004 |
| Assets | ||
| Cash and cash equivalents | $ 2,164 | $ 780 |
| Short-term investments | 429 | 396 |
| Receivables | 4,579 | 4,094 |
| Inventories | 1,921 | 1,864 |
| Deferred income taxes | 861 | 982 |
| Other current assets | 495 | 557 |
| Total current assets | 10,449 | 8,673 |
| Property, plant and equipment, net | 3,924 | 3,599 |
| Investments in equity securities | 196 | 812 |
| Goodwill | 8,447 | 7,892 |
| Purchased intangibles, net | 560 | 672 |
| Prepaid pension asset | 1,360 | 1,030 |
| Other assets | 2,728 | 2,596 |
| Total assets | $ 27,664 | $ 25,274 |
| Liabilities and stockholders' equity | ||
| Accounts payable | $ 1,998 | $ 1,726 |
| Customer advances and amounts in excess of costs incurred | 4,331 | 4,028 |
| Salaries, benefits and payroll taxes | 1,475 | 1,346 |
| Current maturities of long-term debt | 202 | 15 |
| Other current liabilities | 1,422 | 1,451 |
| Total current liabilities | 9,428 | 8,566 |
| Long-term debt | 4,664 | 5,264 |
| Accrued pension liabilities | 2,097 | 1,300 |
| Other postretirement benefit liabilities | 1,277 | 1,236 |
| Other liabilities | 2,331 | 1,887 |
| Stockholders' equity | ||
| Common stock, $1 par value per share | 432 | 438 |
| Additional paid-in capital | 1,724 | 2,223 |
| Retained earnings | 7,278 | 5,915 |
| Accumulated other comprehensive loss | (1,553) | (1,532) |
| Other | (14) | (23) |
| Total stockholders' equity | 7,867 | 7,021 |
| Total liabilities and stockholders' equity | $ 27,664 | $ 25,274 |
| Consolidated Statement of Cash Flows | |||
|---|---|---|---|
| Year Ended December 31 (In millions) | 2005 | 2004 | 2003 |
| Operating Activities | |||
| Net earnings | $ 1,825 | $ 1,266 | $ 1,053 |
| Adjustments to reconcile net earnings to net cash provided by operating activities | |||
| Depreciation and amortization | 555 | 511 | 480 |
| Amortization of purchased intangibles | 150 | 145 | 129 |
| Deferred federal income taxes | 24 | (58) | 467 |
| Changes in operating assets and liabilities: | |||
| Receivables | (390) | (87) | (258) |
| Inventories | (39) | 519 | (94) |
| Accounts payable | 239 | 288 | 330 |
| Customer advances and amounts in excess of costs incurred | 296 | (228) | (285) |
| Other | 534 | 568 | (13) |
| Net cash provided by operating activities | 3,194 | 2,924 | 1,809 |
| Investing Activities | |||
| Expenditures for property, plant and equipment | (865) | (769) | (687) |
| Acquisition of business/investments in affiliated companies | (84) | (91) | (821) |
| Proceeds from divestiture of businesses/Investments in affiliated companies | 935 | 279 | 234 |
| Purchase of short-term investments, net | (33) | (156) | (240) |
| Other | 28 | 29 | 53 |
| Net cash used for investing activities | (19) | (708) | (1,461) |
| Financing Activities | |||
| repayment of long-term debt | (413) | (1,369) | (2,202) |
| Issuances of long-term debt | -- | -- | 1,000 |
| Long-term debt repayment and issuance costs | (12) | (163) | (175) |
| Issuances of common stock | 406 | 164 | 44 |
| Repurchases of common stock | (1,310) | (673) | (482) |
| Common stock dividends | (462) | (405) | (261) |
| Net cash used for financing activities | (1,791) | (2,446) | (2,076) |
| Net increase (decrease) in cash and cash equivalents | 1,384 | (230) | (1,728) |
| Cash and cash equivalents at beginning of year | 780 | 1,010 | 2,738 |
| Cash and cash equivalents at end of year | $ 2,164 | $ 780 | $ 1,010 |
(a) Compute Lockheed Martin's current ratio and quick ratio for
2005 and 2004. (Round your answers to two decimal places.)
2005 current ratio = Answer
2004 current ratio = Answer
2005 quick ratio = Answer
2004 quick ratio = Answer
(b) Compute total liabilities-to-equity ratios and total
debt-to-equity ratios for 2005 and 2004. (Round your answers to two
decimal places.)
2005 total liabilities-to-stockholders' equity = Answer
2004 total liabilities-to-stockholders' equity = Answer
2005 total debt-to-equity = Answer
2004 total debt-to-equity = Answer
(c) Compute times interest earned ratio, cash from operations to
total debt ratio, and free operating cash flow to total debt
ratios. (Round your answers to two decimal places.)
2005 times interest earned = Answer
2004 times interest earned = Answer
2005 cash from operations to total debt = Answer
2004 cash from operations to total debt = Answer
2005 free operating cash flow to total debt = Answer
2004 free operating cash flow to total debt = Answer
In: Accounting
1. Use Thwaites' method to find the separation point for flow across a infinitely long cylinder (BOUNDARY LAYER THEORY IN FLUID MECHANICS).
In: Mechanical Engineering
Identify three compounds that lie on the boundary between ionic and covalent bonding, and calculate the difference in electronegativity and %ionic character for each of those compounds.
In: Chemistry
Determine the reflection coefficient of the pulse amplitude under the following boundary conditions on the right end:
(1) Fixed end
(2) Loose end
In: Physics
Discuss how the UK has benefited from globalization and international trade.
In: Economics