1200 words please respond if you can complete in 8 hours

Please read the document and respond. Please read the instructions carefully before responding.

paper 1 around 500 words

paper 2 around 250 words

paper 3 around 450 words 

Total 1200 words( please follow instructions carefully)

paper 1-part 1-450-600 words

paper 2-part 2-200-250 words

paper 3-3 responses-150 words response each (3 responses-450 words)

Write 450-600 words for part 1, Write 200-250 words for part 2 and respond to three articles with 150 words each.

Part 1: Financial Acumen

Keeping abreast of the financial measures and metrics employed by a company allows employees to better understand its health and position at any given time. Using Campbellsville University library link or other libraries and the Internet:

1. Review at least three (3) articles on financial acuity. Summarize the articles in 450 – 600 words. Use APA formatting throughout including in-text citations and references.

2. Discuss the benefits of establishing solid financial acumen in a company? Discuss your personal experiences in a situation where financial acumen was either not supported as an organizational hallmark or, conversely, was built into the company’s culture.

Part 2: Sarbanes-Oxley (SOX)

Write a 250-word commentary on Sarbanes Oxley and the importance this act has for American businesses today. Your commentary should include the following:

A. Rationale for SOX

B. Provisions of SOX

C. Enforcement of SOX

3 Responses

Instructions

In your response to the discussions posted, consider comparing cash generation techniques at your company versus his or her company. Draw distinctions based on the industry and tell your colleagues why those distinctions are necessary for the management of cash flow.

Below are additional suggestions on how to respond to discussions:

· Ask a probing question, substantiated with additional background information, evidence or research.

· Share an insight from having read your colleagues’ postings, synthesizing the information to provide new perspectives.

· Offer and support an alternative perspective using readings from the classroom or from your own research.

· Validate an idea with your own experience and additional research.

· Make a suggestion based on additional evidence drawn from readings or after synthesizing multiple postings.

· Expand on your colleagues’ postings by providing additional insights or contrasting perspectives based on readings and evidence.

1) Respond to 1st article with 150 words

A Review of Financial Articles

Writing for the Harvard Business Review, Knight posits that learning financial skills is critical to improving any professional despite their position in the organization. An individual must, therefore, commit themselves to learn basic level financial terms and knowledge. Experts claim that an individual is better off having basic financial knowledge even though their position or career path finds no relevance in their field (Knight, 2017). First, financial knowledge improves the employee’s appreciation of certain policies and their subsequent frame of mind while in the production process.

Secondly, an understanding of financials allows for an employee to contribute to any discussion that revolves around the future direction of a firm as well as the effects of decisions and policies undertaken by the management team (Knight, 2017). Knight recommends certain steps that an employee can undertake to improve their financial acumen and understanding. The first steps, as outlined by Knight, include overcoming someone’s fears for financials and numbers and then progressing to learning the terminologies most frequently used in the field (Knight, 2017). The professional then has to concentrate on aspects of financing that have the most impact on the organization, such as the balance sheet and other important metrics.

Similar to Knight, Sexton recommends the study of financial acumen as an important aspect of corporate governance to be taught to every member of an organization. The author outlines the importance of financially educating employees and their subsequent appreciation of company policies and involvement in decision making as a result of their understanding of the financials (Sexton, 2016). The Human Resource teams in a firm have to be appropriately equipped to training other members of staff about financial acumen to achieve two goals. First, the financial reports have to be able to allow the employees to make sound business decisions based on the current position of the firm concerning the industry and market position.

Secondly, a good program allows for the employees to align their decisions with the firm’s strategic objectives (Sexton, 2016). McGarvie further illustrates the importance of instilling financial acumen among members of staff in her leader’s write-up for the Institute of Chartered Accountants in England and Wales. Each employee in a firm has to have an understanding of what generates profits for the company. The author posits that teaching financial acumen has to be a deliberate course of action from management and must be reflected in all levels of a firm (McGarvie, 2007). Teaching business ensures that employees make decisions similar to their employer and integrates a culture of accountability.

In my early experience as a personal assistant to the Human Resource manager at a food distribution business, activities at the distribution centers were undertaken in a wasteful manner. Delivery drivers would pick one order at a time to deliver even though several orders were in a queue. The financial position of the business was precarious for some time before the primary investors decided to sell the business. Although there were other contributing factors, the lack of insight into different costs cutting methods to improve the efficiency of the business from the employees was an important reason for later redundancies.

The Sarbanes-Oxley Act of 2002

Enacted in 2002, SOX was a response to corporate scandals at Enron and other firms that reduced investor confidence in the operations of companies and public markets. The Act requires companies to improve their audit committees, undertake internal controls tests and ensure that employees in management positions are made liable to gross financial misconduct within the firm (Banerjee, Humphery, & Nanda, 2015). Further, the Act imposed stricter penalties for economic crimes within the securities exchange and publicly traded firms. To enforce the provisions of the Act, it establishes the Public Company Accounting Oversight Board that sets standards for practicing accountants as well as the rotation of audit firms.

Top managers bear greater responsibility for financial impropriety and stand to lose their bonuses earned from trading (Banerjee, Humphery, & Nanda, 2015). If a manager willfully engages in financial impropriety, they fac up to 20 years in jail. Further, the Act requires publicly traded companies to make full disclosures of all their financial dealings not reflected on the spreadsheet. The provisions of the Act deter financial crimes and better protects a firm’s assets from misappropriation. The result is an increase in investor confidence that enables a more significant infusion of capital into the industry. Further, it strengthens markets as investors have the information and data to make an assessment of a firm’s financial position effectively.

References

Banerjee, S., Humphery, J., & Nanda, N. (2015). Restraining Overconfident CEOs through Improved Governance: Evidence from the Sarbanes-Oxley Act. The Review of Financial Studies. Vol. 28, Issue. 10, pp. 2812–2858. Retrieved from https://doi.org/10.1093/rfs/hhv034

Knight, R. (2017). How to Improve Your Finance Skills (Even If You Hate Numbers). The Harvard Business Review. Retrieved from https://hbr.org/2017/03/

McGarvie, K. (2007) The importance of financial acumen in staff. The Finance and Management Faculty, Issue 147. Retrieved from https://www.icaew.com/technical/business-and-management/leadership-personal-development-and-hr/leadership/

Sexton, A (2016). The Importance of Business Acumen Training for Managers and Employees. Corporate Training. Retrieved from https://www.corporatetraining.ie/business-acumen-training/

2) Respond to 2nd article with 150 words

Financial and Financial acuity goes past structure keen and solid budgetary plans and supervising them well. Financial Acuity not simply permits them to see things from a more broad perspective yet also makes them aware of the key features that are required to run an affiliation viably. People will by and large improve Financial Acuity as just a ton of savvy instinct decisions that reflects the way wherein an association runs. With the objective for relationship to successfully close the financial acuity competency opening, the competency ought to be unquestionably known and clarified. Financial acuity requires the mix of past understanding, specific financial data, wide various leveled presentation and legitimate thinking. Since financial acuity requires understanding, the route up the competency curve can be more delayed than what is required for rising pioneers rapidly tolerating extended responsibility (Anthony, 2018).

Regardless of the nonappearance of concurrence on describing financial acuity, and its disorder with financial data, there is general arrangement about the benefits of having a genuine degree of financial acuity among executives and pioneers. Make a culture of select guidelines, yet suffer bungles. Building financial acuity fuses picking up from messes up. Financial Acuity is an erratic competency that exorbitantly various affiliations leave to hazard. Believe it or not, various affiliations basically plan to utilize outside capacity to help their inward focus of industry and market data. Perhaps it was a slip up made with eyes completely open. This is the spot financial acuity turns into a vital factor. The ability to check the right move, paying little mind to less or no information and subsequently cling to the way and make it work, is what makes for amazing financial acuity (Gilbert-Jamison, 2019).

Any Financial is reliant upon the forces that success in the condition that it works in. A portion of the time tremendous events war, basic market improvements impact the Financial. The ability to progress and to be on the cutting edge of development are key ways to deal with proceed with a productive Financial. Finance often struggle in view of nonattendance of ideal proportion of theory at the advantageous time or for ending up being vain and disparaging things while making a right endeavor to keep up the standard. An affiliation requires its delegates to work in an arranged manner and pass on result. Additional time these agents have reasonable involvement with limits or in running the overall affiliation. Affiliations which benefit by this cooperation effect on the capacity of the laborer and the upsides of the affiliation. While a laborer searches for security, and gives his capacity in lieu of financial reestablishes, the comparable can be made into a better than average financial open entryway by working up the delegate after some an ideal opportunity to transform into a cash director with significant dominance (Iannarino, 2020).

Financial Acumen in company:

Acumen suggests the ability to make quick, accurate choices and decisions. Financial acumen relies basically upon direct and experiential issues, not on formal learning or preparing like financial instruction. Most associations have still not facilitated business acumen approaches into their organization improvement tries and an impressive part of the people who do are assembling their undertakings regarding models which are starting at now outdated and winding up being perplexing, most ideal situation. Activity improvement managers in various undertakings have adequately separated the way that financial acumen is a creating essential for their clients. Association’s proliferations are an important strategy to help make business acumen. At any rate they are occurred in a fake area wherein individuals are likely going to act in habits they would not, in fact, conditions. It is outlandish that the impacts of a business acumen program can be demonstrated basically through changes in financial estimations (Green, 2017).

Business reenactments can be an extraordinarily accommodating extension to a business acumen program. They can reenact conditions that the part has never experienced and give pieces of information into likely outcomes and practices that will occur. Financial acumen programs composed at significantly more young high prospects ought to be arranged in genuinely different habits every so often, join segments of financial instruction and possibly business reenactments the structure and dispersal of financial reports and estimations thusly transforms into a cycle that can be influenced by a financial acumen program (Green, 2017).

References

Anthony. (2018). The Role of Business Acumen in Leadership Development. Gainesville, FL: Perth Leadership Institute. http://www.perthleadership.org/Documents/Business_Acumen_WP_Updated .

Gilbert-Jamison, Theo. (2019). Improving Business Acumen—The Five Essentials. Ezine Articles (April). http://ezinearticles.com/?Enhancing-Business-Acumen—The-Five-Essentials&id= 2227395.

Green, Raymond. (2017). Why Business Acumen Training is Essential for Manager and Employees of Energy Companies [White paper]. St. Petersburg, FL: Paradigm Learning. http://www. paradigmlearning.com/records/WP%20Energy%20Industry%20002

Iannarino, S. Anthony. (2020). Business Acumen: A General Understanding of Business Principles. The Sales Blog (February). http://thesalesblog.com/2010/02/business-acumen-a-generalunderstanding-of-business-principles/.

3) Respond to 3rd article with 150 words

Part 1: Financial Acumen

1.

Amanet. (2019, April 3). 3 financial acumen skills you don’t want to ignore. Online Business & Corporate Training Seminars, Classes, and Courses | AMA. https://www.amanet.org/articles/3-financial-acumen-skills-you-dont-want-to-ignore/

This article presents the skills required for the successful operation of an organization. For instance, such skills as financial skills, which strengthen essential financial literacy metrics, are focused upon by the article. Further, the article handles concepts including reporting, budgeting, adherence to compliance, and forecasting are essential for a business. Besides, business skills are vital to financial acuity. The skills allow an organization’s employees to enhance their abilities. These employees increase their efficiency in managing costs, resources, quality, and a focus on technology trends. On a global scale, the article presents skills required for the arena, such as the need for governance and how to develop a reliable corporate strategy. Therefore, an observation of these concepts by organizations is critical to increasing the organization’s efficiency and profitability. This article is informative, and it can help to transform the organization. Hence, organizations should ensure that financial acuity forms part of their operations.

Lund, D. (2019, July 8). Why financial acumen is so important to your hospitality career. Hospitality Net. https://www.hospitalitynet.org/opinion/4094116.html

The hospitality career requires reliable skills and knowledge for a possibility to enhance service delivery. The author of the article presents the challenges experienced in expense reviews and staffing within the hospitality industry. Furthermore, the author delves into the hospitality career and gives some insights into the industry. For example, since hotel owners desire to make a profit, employees are under constant pressure to deliver. Therefore, to achieve financial acuity, employees need to reduce costs and rid-off expenses. Using the staffing guide alongside a working formula is vital for improving productivity. After implementing this move, there is a need to enlighten leaders and managers in the business to understand the approach. This move allows for the articulation of the goals and strategies of the organization. Such a focus would allow for informed decision making within the organization. Such a move is essential to the organization, making money. Hence, financial acuity is a concept that should always be considered by hospitality.

Vorbach, P. (2017, February 23). Linking financial acumen to business performance. AcademyGlobal. https://www.academyglobal.com/linking-financial-acumen-to-business-performance/

The article focuses on how organizations can attain financial acuity based on the implementation of several factors. Notably, experience achieved while working alongside continuous learning. Learning starts in the college or university that a person attends. Upon employment, the person also receives training that is critical to their area of specialization. Furthermore, this training allows the trainee to get the required skills appropriate to their area of specialization. Thus, the perspective on financial acuity will enable employees to understand the sources of an organization’s profits. Besides, such skills as financial, global, and business skills are essential to meeting an organization’s financial acuity. These three pillars dictate how organizations and their employees work to attain the desired outcome. The ability to link financial acuity to a business’s performance is a critical aspect that calls for the employees to utilize. Hence, organizations should relate business outcomes with financial acuity.

2.

Financial acumen entails the understanding drivers of a company’s expenses and profits alongside major financial metrics used (Lawton, 2018). Companies need to establish a solid financial acumen for various reasons. Thus, the following section discusses these benefits. First, financial acumen facilitates the understanding of the company’s financial goals. For example, employees understand that a company should not spend over what they make, reduce overload, avoid redundant spending, and increase profit margins. These goals are essential to the company being profitable. Therefore, creating a desirable product and a focus on evaluating cash flow reports is essential to the company. Notably, the product will attract more customers, increase the number of customers, and increase revenue. Hence, developing a solid financial acumen within a company is critical to ensuring progress towards achieving financial goals.

Also, financial acumen allows employees to understand actions taken by management alongside the required improvements—some actions undertaken by the management aim at improving service delivery to customers (Lawton, 2018). Therefore, financial acumen should allow employees to identify reasons for certain actions. For instance, some policies aimed at enhancing collaboration between employees, an avenue for fostering the accomplishment of a company’s goals. Moreover, understanding the required improvements for a company is critical to increasing its profitability. Such actions as developing strategic goals and focusing on cultural development are essential. Lastly, financial acumen helps to develop ways of making and saving more money for the organization. This concept requires that every aspect of the company adhere to set policies that foster the company’s goals. This is essential to improving the services offered by the company and subsequent profits.

Part 2: Sarbanes-Oxley (SOX)

Sarbanes-Oxley (SOX) refers to a law passed by the US Congress on 30th July 2002 to prevent fraudulent reporting of finances by corporations. This Act mandated reforms on existing regulations and imposed tough penalties on violators. The Sarbanes-Oxley (SOX) instilled corporate responsibility, increased punishment for criminals, accounting regulation, and new protections (Kenton, 2020). These provisions adequately covered four principles since there was a need to observe strict rules to avert losses to investors. The enforcement of the Sarbanes-Oxley (SOX) is divided into sections. Section 302 mandates senior corporate officials to certify personally through writing financial statements of a company. Signing off inaccurate financial statements are likely to face criminal penalties. Section 404 calls for the establishment of internal controls alongside reporting methods by auditors and management. Lastly, section 802 contains three rules of recordkeeping. These include destruction alongside falsification, retention period of records, and particular business records, including electronic communications, that a company should store. The Sarbanes-Oxley (SOX) Act benefits include strengthening audit committees of a company and performing internal controls (Blokhin, 2019). Also, the Act makes officers and directors liable individually for accurate financial statements. Moreover, the Sarbanes-Oxley (SOX) Act sets strict criminal penalties for fraud alongside public accounting firms.

References

Amanet. (2019, April 3). 3 financial acumen skills you don’t want to ignore. Online Business & Corporate Training Seminars, Classes, and Courses | AMA. https://www.amanet.org/articles/3-financial-acumen-skills-you-dont-want-to-ignore/

Blokhin, A. (2019, June 27). The impact of the Sarbanes-Oxley Act of 2002. Investopedia. https://www.investopedia.com/ask/answers/052815/what-impact-did-sarbanesoxley-act-have-corporate-governance-united-states.asp

Kenton, W. (2020, February 4). Sarbanes-Oxley (SOX) Act of 2002 definition. Investopedia. https://www.investopedia.com/terms/s/sarbanesoxleyact.asp

Lawton, C. (2018, September 19). Financial acumen – A dirty little secret – PSI. Performance Solutions International (PSI). https://www.goto-psi.com/blog/financial-acumen-dirty-little-secret/

Lund, D. (2019, July 8). Why financial acumen is so important to your hospitality career. Hospitality Net. https://www.hospitalitynet.org/opinion/4094116.html
Vorbach, P. (2017, February 23). Linking financial acumen to business performance. AcademyGlobal. https://www.academyglobal.com/linking-financial-acumen-to-business-performance/