ACC 573 Week 3 Assignment

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Search the Internet or Strayer databases for a company that recently restated its earnings. Based on the company researched and identified:

Write a two to three (2-3) page paper in which you:

Assess the factors that contributed to the financial statement restatement, signifying the executive management team’s attitude toward the restatement. Suggest how the restatement may have been avoided during the initial reporting process.
Explain the impact to the company’s stock price when the restatement was released and to future earnings forecast, indicating whether or not you believe the impact to the stock price was justified.
Evaluate the restatement in terms of management’s ethical violations according to the requirements of the Sarbanes-Oxley Act, providing recommendations to management on how to avoid these problems in the future. Provide support for your recommendations.
Use at least two (2) quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality as academic resources.

Your assignment must follow these formatting requirements:

Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

Evaluate how the changes in assets and liability valuations impact the measurement of net income on the income statement.

Assess the uses of the statement of cash flows and how the statement is used to evaluate the quality of earnings.
Use technology and information resources to research issues in financial analysis and reporting.
Write clearly and concisely about financial analysis and reporting using proper writing mechanics.

Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric.

Points: 200	Assignment 1: Financial Statement Restatement and Ethics
Criteria	Unacceptable Below 70% F	Fair 70-79% C	Proficient 80-89% B	Exemplary 90-100% A
1. Assess the factors that contributed to the financial statement restatement, signifying the executive management team’s attitude toward the restatement. Suggest how the restatement may have been avoided during the initial reporting process Weight: 25%	Did not submit or incompletely assessed the factors that contributed to the financial statement restatement, signifying the executive management team’s attitude toward the restatement. Did not submit or incompletely suggested how the restatement may have been avoided during the initial reporting process.	Partially assessed the factors that contributed to the financial statement restatement, signifying the executive management team’s attitude toward the restatement. Partially suggested how the restatement may have been avoided during the initial reporting process.	Satisfactorily assessed the factors that contributed to the financial statement, restatement signifying the executive management team’s attitude toward the restatement. Satisfactorily suggested how the restatement may have been avoided during the initial reporting process.	Thoroughly assessed the factors that contributed to the financial statement, restatement signifying the executive management team’s attitude toward the restatement. Thoroughly suggested how the restatement may have been avoided during the initial reporting process.
2. Explain the impact to the company’s stock price when the restatement was released and to future earnings forecast, indicating whether or not you believe the impact to the stock price was justified. Weight: 30%	Did not submit or incompletely explained the impact to the company’s stock price when the restatement was released and to future earnings forecast, indicating whether or not you believe the impact to the stock price was justified.	Partially explained the impact to the company’s stock price when the restatement was released and to future earnings forecast, indicating whether or not you believe the impact to the stock price was justified.	Satisfactorily explained the impact to the company’s stock price when the restatement was released and to future earnings forecast, indicating whether or not you believe the impact to the stock price was justified.	Thoroughly explained the impact to the company’s stock price when the restatement was released and to future earnings forecast, indicating whether or not you believe the impact to the stock price was justified.
3. Evaluate the restatement in terms of management’s ethical violations according to the requirements of the Sarbanes-Oxley Act, providing recommendations to management on how to avoid these problems in the future. Provide support for your recommendations. Weight: 30%	Did not submit or incompletely evaluated the restatement in terms of management’s ethical violations according to the requirements of the Sarbanes-Oxley Act, providing recommendations to management on how to avoid these problems in the future. Did not submit or incompletely provided support for your recommendations.	Partially evaluated the restatement in terms of management’s ethical violations according to the requirements of the Sarbanes-Oxley Act, providing recommendations to management on how to avoid these problems in the future. Partially provided support for your recommendations.	Satisfactorily evaluated the restatement in terms of management’s ethical violations according to the requirements of the Sarbanes-Oxley Act, providing recommendations to management on how to avoid these problems in the future. Satisfactorily provided support for your recommendations.	Thoroughly evaluated the restatement in terms of management’s ethical violations according to the requirements of the Sarbanes-Oxley Act, providing recommendations to management on how to avoid these problems in the future. Thoroughly provided support for your recommendations.
4. 2 references Weight: 5%	No references provided	Does not meet the required number of references; some or all references poor quality choices.	Meets number of required references; all references high quality choices.	Exceeds number of required references; all references high quality choices.
5. Clarity, writing mechanics, and formatting requirements Weight: 10%	More than 6 errors present	5-6 errors present	3-4 errors present	0-2 errors present