SharePoint 2010 Farm Account getting access denied on Server

When you setup New SharePoint 2010 Farm Environment you may experience access denied issue even for Farm Account, when try to access any Web Application/Site in spite of having Farm Account in the Web Application Policy with Full Control.
 
Try this in the command prompt to confirm that

net view \\alias.domain name.com    You may get error as

1. Refer to the KB http://support.microsoft.com/kb/896861 and edit registry values as below.In Registry Editor, locate and then click the following registry key:

HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Control\Lsa\MSV1_0

2. Right-click MSV1_0, point to New, and then click Multi-String Value.
3. Type BackConnectionHostNames, and then press ENTER.
4. Right-click BackConnectionHostNames, and then click Modify.
5. In the Value data box, type the host name or the host names for the sites that are on the local computer, and then click OK.

Quit Registry Editor, and then restart the IISAdmin service.

The result is