Technology
Hired to install automated payroll system for General Electric
Who is Arthur Anderson
Act established in 2002
What is SOX
CEO of Enron
Who is Jeff Skilling
Created in 1985
What is Microsoft Excel
Paul Sarbanes and Michael Oxley
Who are the 2 congressmen that drafted Sox
Largest bankruptcy in U.S History
Who is Lehman Brothers
Described as "a magic sheet of paper"
What is VisiCalc
Established thorough and accurate communication between multiple computer systems
What is the Electronic Data Interchange (EDI)
Recording assets on fair value, list profits as projections, and write unrealized gains into current year’s income statement
What is Mark-to-Market Accounting
Improved efficiency, and computerized banking and credit card processing
What is the Electronic Recording Machine of Accounting (ERMA)
Improved Financial Accounting and Reporting Standards
What is FASB
Also known as "bankruptcy-remote entity"
What are Special Purpose Entities