The Sarbanes Oxley Act Of 2002 - 1525 Words

Most word references characterize fraud as a bogus representation of true data. Whether that false data is given by expressing false words, deluding claims, or by concealing or disguising uncovered data, it is viewed as fraudulent because of the beguiling nature. In spite of the fact that it is deceptive to give false data, people even in real companies will attempt to cover their misfortunes by reporting false data. Taking after many years of monetary frauds and outrages including executives and officers at a portion of the biggest organizations in the United States, Congress established the Sarbanes-Oxley Act of 2002 (Cheeseman, 2013). Congress ordered the Sarbanes-Oxley Act of 2002 (SOX Act) to shield customers from the fraudulent exercises of significant partnerships. This paper will give a brief history of the SOX Act, portray how it will shield general society from fraud inside of partnerships, and give a presumption to the viability of the capacity of the demonstration to shie ld purchasers from future frauds. History of the SOX Act Congress established the Sarbanes-Oxley Act of 2002, which is otherwise called the Public Company Accounting Reform and Investor Protection Act, in the beginning of corporate and accounting scandals that prompted liquidations, serious stock misfortunes, and a loss of trust in stocks (Batten, 2010). The demonstration forces new obligations on corporate administration and criminal authorizes on those supervisors who spurn the law, and itShow MoreRelatedSarbanes-Oxley Act of 2002985 Words   |  4 Pages Sarbanes-Oxley Act of 2002 Week # 2 Individual Assignment â€Æ' Sox Key Main Aspects for a Regulatory Environment Sarbanes-Oxley Act was passed in 2002 by former president George Bush. Essentially to combat the Enron crisis. The Sox Act basically has regulatory control and creates an enviroment that is looking out for the public. Ideally this regulatory environment protects the public from fraud within corporations. Understanding, that while having this regulatoryRead MoreThe Sarbanes Oxley Act Of 20021614 Words   |  7 PagesThe Sarbanes-Oxley Act of 2002 (SOX) was enacted to bring back public trust in markets. Building trust requires ethics within organizations. Through codes of ethics, organizations are put in line to conduct themselves in a manner that promotes public trust. Through defining a code of ethics, organizations can follow, market becomes fair for investors to have confidence in the integrity of the disclosures and financial reports given to them. The code of ethics include â€Å"the promotion of honest andRead MoreThe Sarbanes Oxley Act Of 2002 Essay1605 Words   |  7 Pages well-known acts have been signed into laws by the presidents at the time to protect investors and consumers alike. A brief overview of the Sarbanes-Oxley Act of 2002, a discussion of some of the provisions therein, opinions of others regarding the act and also my personal and professional opinion will be discussed below. The same will be examined about the Dodd-Frank Wall Street Reform and Consumer Protection Act. Senators Paul Sarbanes and Michael Oxley were the sponsors of the Sarbanes-Oxley Act of 2002Read MoreThe Sarbanes Oxley Act Of 20021563 Words   |  7 PagesThe Sarbanes-Oxley Act of 2002 (SOX) was enacted to bring back public trust in markets. Building trust requires ethics within organizations. Through codes of ethics, organizations conduct themselves in a manner that promotes public trust. Through defining a code of ethics, organizations can follow, the market becomes fair for investors to have confidence in the integrity of the disclosures and financial reports given to them. The code of ethics includes the promotion of honest and ethical conductRead MoreThe Sarbanes Oxley Act Of 20021015 Words   |  5 PagesThe Sarbanes-Oxley Act of 2002, also known as the SOX Act, is enacted on July 30, 2002 by Congress as a result of some major accounting frauds such as Enron and WorldCom. The main objective of this act is to recover the investors’ trust in the stock market, and to p revent and detect corporate accounting fraud. I will discuss the background of Sarbanes-Oxley Act, and why it became necessary in the first section of this paper. The second section will be the act’s regulations for the management, externalRead MoreThe Sarbanes Oxley Act Of 2002 Essay1070 Words   |  5 Pagesof Sarbanes-Oxley Act of 2002. This Act was placed into law to protect the consumer against fraudulent activity by organizations. This paper will provide a brief history of the law and discuss some of the ethical components and social implications on corporations. This research will provide information on how the Sarbanes-Oxley Act affects smaller organizations and how it encourages employees to inform of wrong doings. Brief Synopsis of Sarbanes-Oxley The U.S. Congress passed the Sarbanes-OxleyRead MoreThe Sarbanes Oxley Act Of 20022137 Words   |  9 Pagesdishonest act that remained common amongst companies such as Enron, WorldCom, and Tyco was the fabrication of financial statements. These companies were reporting false information on their financial statements so that it would appear that the companies were making profits. However, those companies were actually losing money instead. Because of these companies’ actions, the call to have American businesses to be regulated under new rules served as a very important need. In 2002, Paul Sarbanes from theRead MoreSarbanes Oxley Act of 20021322 Words   |  6 Pagesï » ¿Sarbanes-Oxley Act of 2002 Descriptions of the main aspects of the regulatory environment which will protect the public from fraud within corporations are going to be provided in this paper. A special attention to the Sarbanes – Oxley Act of 2002 (SOX) requirement; along with an evaluation of whether Sarbanes-Oxley Act will be effective in avoiding future frauds based on their implemented rules and regulations. The main aspects of the regulatory environment are based on the different laws and regulationsRead MoreThe Sarbanes Oxley Act Of 2002 Essay1302 Words   |  6 PagesThe Sarbanes-Oxley Act of 2002 was the result of a number of large financial scandals in the United States in the late 1990s and early 2000s. One of the most well-known corporate accounting scandals was the Enron scandal, which was exposed in 2001. Enron, an energy company that was considered one of the most financially sound corporations in the United States before the scandal, produced false earnings reports to shareholders and kept large debts off the accounting books (Peavler, 2016). Enron executivesRead MoreThe Sarbanes-Oxley Act of 20024779 Words   |  20 PagesThe Sarbanes-Oxley Act of 2002Introduction2001-2002 was marked by the Arthur Andersen accounting scandal and the collapse of Enron and WorldCom. Corporate reforms were demanded by the government, the investors and the American public to prevent similar fut ure occurrences. Viewed to be largely a result of failed or poor governance, insufficient disclosure practices, and a lack of satisfactory internal controls, in 2002 George W. Bush signed into law the Sarbanes-Oxley Act that became effective on

Monitor Work Operations for Boleros Restaurant †Free Sample

Question: Discuss about theMonitor Work Operations for Boleros Restaurant. Answer: Introduction Managers Plan for Making the Evening Operation Smoother According to the case study of Boleros Restaurant, the afternoon of Fathers day the tables were fully booked and emerged a chaos during the time of serving meals to them for some managerial mistakes. Therefore, as a Manager, the situation should have been managed in a tactful way to avoid this kind of miscommunication among the staffs. The situation has required a proper planning before the occasion. Firstly, the restaurant should have not booked all the tables to the customers (Bruce et al., 2013). It has raised the most chaotic situation of overcrowded condition. If there were two tables reserved for the emergency guests to book, then the tables were available when a crowd was appearing at a time. As they have the facility of sitting in the outside, therefore they have to keep the offer for limited tables to book outside. Along with this, he manager can arrange their workforce in a systematic order to take the orders from the customers and to serve them their order within time. If the manager has arranged more staff for the occasion, then the customers had not wait for a long time to get their ordered meals. The extra workforce, who was appointed to lose the burden of the actual staff in need, then the occasion had been completed with smooth manner and the customers too would be happy to invest their money to get a quality time (Whalan, 2013). Therefore, in order to operate the evening smoothly, the manager had to take some steps to manage the situation properly without any problem. The manager had to make a work schedule for all the workers there for the evening not to confuse in the critical situations. In this case, the staffs were not allocated their duties separately that they have not to think while working whether the other works are proceeding or not. However, in this restaurant the waiters have to think about their chefs if they were capable of cooking the orders on time. If they were supported with some more staff in that evening, then they could have worked in more professional way to please their customers (Neal et al., 2013). Therefore, the staffs can work according to their allocated work and this chaotic condition would not have risen in the restaurant that the customers had to leave their table without having their ordered meal. Problems Faced by the Restaurant as well as the Customers on Sunday Evening In Boleros Restaurant, the Sunday evening was a very big day for their business as it was Fathers Day and almost every table was booked in advance. It was going very smoothly when the guests were started to come first but after some time when the guests were entering the restaurant at a time, then the rush of the customers were confusing the staffs in handling them (Sun, 2016). Therefore, the service was disturbing and the customers were not getting their orders on time. As the huge crowd in outside and numbers of orders were taken by the waiters, the kitchen staffs were becoming furious to make the orders in hurry. It is not possible for the chefs to make their food items in any short cut process to serve the meals faster. Thus, they have to cook the orders with proper time and then have to serve to the customers. The order overflow has made all the functions delayed for a particular time and the customers had to wait for a long time to get their meals. This has made them angry with the service of the restaurant (Hing, 2013). Therefore, it was the issue of the reputation of the restaurant, which was in a very risky condition. The situation can be overcome by providing some amusement activities to involve the customers. It would have helped the manager to keep the customers busy for some time and the staffs would get a few times to manage their works. Therefore, the manager could implement an interesting game and requested the customers to participate in it. The manager had also announced that the winner would be given a nice prize in the end of the game. Therefore, it could be the short-term solution for converting the chaotic condition to an enjoyable one. However, if there is a chance to face this kind of situation again in future, then the Manager should have to take the responsibility and have to allocate proper workforce with proper duty to avoid this mess. Main Issue of the Housekeeping Staffs in Rockstone The Rockstone, a small private hotel situated in Melbourne, serves the discerning visitors to the city with special upmarket service quality. Therefore, the hotel staffs have to be much organised to provide the desired service to the customers. However, the hotel housekeeping unit is suffering from a weak workforce. Therefore, the hotel was facing some problems in this part. The main issue of this unit was the lack of employees. The unit has only a few members who have to complete the all housekeeping related tasks. This has increased the work burden on the staffs and they were not able to do all the tasks on time (Vander et al., 2015). There was two staff, Fred and Wilma, who have to do the cleaning of the guests rooms and sitting areas. However, they do their work regularly but sometimes when a guest check out a room or sitting area and a new guest check in, in between they never clean the areas, which impacted on the customers mind about the service of the hotel. There was another staff named Barney who has the responsibility to clean the kitchen and staffs rooms but he thinks that he has not enough work between the lunch and dinner time. Along with this, Betty is the kind of manager of this housekeeping unit in the hotel who looks after all the required purchase and control of the unit. Assessing the Staff Workload and Workflow In this case, the workload of the employees was heavy than their remuneration. If the owners of the hotel wanted to run the housekeeping staffs in proper order without any problems, then they have to reduce their workload (Kensbock et al., 2014). In order to assessing the staff workload and workflow, the works of the hotel has to be evaluated. In this hotel there are only four staffs who handle the housekeeping unit. However, the hotel has 25 rooms along with a dining room where the customers of the hotel as well as the other customers can avail the foods. Therefore, the hotel has always a crowd of customers who have to be served properly by the housekeeping staff. Therefore, the total work burden is imposed only on these four staff. Fred and Wilma has the responsibility to clean all the guests rooms and the sitting rooms and foyer. Barney has to clean the kitchen and the rooms of the staffs and work from 3 to 11 pm. On the other hand, Betty has to take care of the purchase and contr ol of all cleaning equipments, chemicals, care of floral and plant dcor, guest room linen and table linen and any special requests of the guests. Therefore, the overall unit has to handle huge workload to maintain. Options Frank and Josie have to Improve the Situation In this situation, if the owner of the Rockstone hotel has to improve the quality of their service, then they have to recruit more staff in the housekeeping unit to reduce the workload. Frank and Josie have to observe the employees whether they are completing their own responsibilities or not. They have to become stricter with the employees that they cannot able to show any negligence to the work (Solnet et al., 2015). They have to make them understand about the importance of their good work to create the good reputation before the customers. Frank and Josie can provide training sessions to the staffs to improve their work quality and technically advance in the processes to make the works easy. Therefore, the staffs have to be maintained and directed in a proper way to improve the situation in the hotel will increase the reputation of the hotel indirectly. In this section, the work operations have to monitor of a part of the work place. The restaurants front area has been considered here to monitor the work efficiency. Therefore, the manager has to adjust the works of the employees to organise the front house actions in a proper way. If the workers know their own responsibility, then they can work with full confidence and with their best quality (Supanti et al., 2014). As it is a restaurant, then the front house is consists of waiters mainly. The manager has to set the working hours of the waiters in a manner that the restaurant never lacks of workers to serve their customers. Therefore, the manager has to implement a proper working roster to avoid any kind of chaotic situation, which can ruin the reputation of the restaurant before the customers. The front house of a restaurant consists of the staffs who take the orders from the customers, and then they convey the order to the kitchen staff for preparing the food item. In last, the waiters serve the ordered food to the particular customer. In order to run the operations properly the manager has to maintain a good communication with the staffs and waiters to know their problems and requirements to improve the service (Wang Ritchie, 2013). Therefore, the manager has to consult with the staffs about the future planning of the service operations while try to understand the view points of the staffs. The customers also can be asked questions about their satisfaction with the service as well as with the staffs behaviour. The feedback of the staffs and the customers will help to develop the future plan to operate the service according to the expectations of the customers. Therefore, it can be said that the workforce should be maintained in a planned way to set the works in an organised way. In order to gain this, the manager has to provide a proper working roster for the waiters to manage the restaurants working hours. As the restaurant operates between 11am to 11 pm per day, then the waiters have to work for almost 12 hours. Therefore, the manager should have to introduce two shifts of 7 hours each to manage the works. In the evening from 7pm to 8 pm, when most of the customers gathered here, all the staffs will be present to serve them. Additionally, there will some waiters who will take the orders and a few will serve the meals. There will be two staff to supervise the whole operation. If the manager can manage the front house staffs then the workforce will never face any chaotic situation. 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(2016).Handbook of frozen food processing and packaging. CRC Press. Supanti, D., Butcher, K., Fredline, L. (2014, December). Understanding Managers' Engagement with Corporate Social Responsibility (CSR) in the Thai Hotel Sector. InProceedings of the International Association for Business and Society(Vol. 25, pp. 91-96). Van der Wagen, L., Goonetilleke, A. (2015).Hospitality Management, Strategy and Operations. Pearson Higher Education AU. Wang, J., Ritchie, B. W. (2013). Attitudes and perceptions of crisis planning among accommodation managers: Results from an Australian study.Safety science,52, 81-91. Whalan, J. (2013).How Peace Operations Work: Power, Legitimacy, and Effectiveness. OUP Oxford.