Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Income Taxes, Intermediate Accounting, Managerial Accounting.

According to the Guardian, more firms are looking into a rested workforce because sleep has an image problem in the business world.

Questions
1. What is the definition of sufficient sleep and how do the U.S., U.K, and Japan stack up to this definition>
2. What are some of the reasons for the global sleep-loss epidemic?
3. What are some of the companies and their solutions or investments for more sleep in the workforce?
4. From an accounting standpoint, how should these solutions be recorded in the financial records?

Source:
Cassidy, A. (2017).Clocking off: the companies introducing nap time to the workplace. The Guardian, Dec. 4 (Retrievable online at https://www.theguardian.com/business-to-business/2017/dec/04/clocking-off-the-companies-introducing-nap-time-to-the-workplace)

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized.

Defense Department Comptroller David Norquist announced that the Department of Defense (DoD) would undergo its first-ever, financial audit beginning this month.

Questions:

1. How many auditors will be tasked with spreading out across the department to examine the records?
2. How much in assets is it estimated that the Pentagon has?
3. According to Norquist, what are the goals of the audit?
4. According to Norquist, what effects would a govenment shutdown have on the DoD?

Source:
Bowden, J. (2017). Pentagon starting first-ever financial audit. The Hill, Dec. 8 (Retrievable online at http://thehill.com/policy/defense/364001-pentagon-starting-first-ever-financial-audit)

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized.

Investors sent shares in Dollar General higher Thursday after the company announced better-than-expected sales growth and plans to open 900 stores in 2018.

Questions:
1. What was the overall strategy of Dollar General in the competitive retail business?
2. What is the future that Dollar General hopes for in opening these new stores?
3. What did Dollar General credit for its strong same-store growth?

Source:
Matthews, C. (2017). Dollar General to open 900 new stores in 2018. Axios, Dec. 7 (Retrievable online at https://www.axios.com/dollar-general-to-open-900-new-stores-in-2018-2515659359.html)

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Ethical Dilemma, Intermediate Accounting, Managerial Accounting, Video Updates.

According to Huffington Post, even though Hurricane Maria destroyed much of the island’s infrastructure in September, forcing TJ Maxx to shutter some stores there, the company has nevertheless been dutifully paying its employees ever since.

Questions:
1. How much of the power had been restored to Puerto Rico when this article was written?
2. How many stores share the same corporate owner – TJX? How many locations does TJX have in Puerto Rico?
3. Did TJX have to pay its employees? Discuss.

Source:

Grenoble, R. (2017). Owner Of TJ Maxx Is Still Paying Its Employees In Puerto Rico, Even Those Who Can’t Work.Huffington Post, November 7 (Retrievable online at https://www.huffingtonpost.com/entry/tj-maxx-puerto-rico-employees-paid-tjx_us_5a01dd9fe4b066c2c03a72a3?section=us_business)

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Intermediate Accounting, Managerial Accounting.

According to Reuters, Aetna Inc’s board of directors approved the U.S. health insurer’s sale to drugstore chain operator CVS Health Corp for approximately $207 per share in cash and stock. As such, this $69 billion deal will be the largest corporate acquisition.

Questions:
1. What will Aetna shareholders receive?
2. What will happen to Aetna’s CEO?
3. What are CVS’s plans for the Aetna network?

Source:
O’Donnell, C. and Greg Roumeliotis. (2017) CVS Agrees To Buy Aetna In A $69 Billion Deal. Reuters, Dec. 3 (Retrievable online at https://www.huffingtonpost.com/entry/cvs-buys-aetna-insurance_us_5a244f3be4b03c44072e4dc4?section=us_business)

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Fraud Accounting, Income Taxes, Intermediate Accounting, Managerial Accounting.

Personal assistants are the cash handlers for many celebrities, a job that rarely comes with any sort of Hollywood glamour.

Questions:
1. According to the article: “…the longer someone has been famous, the less ________________________. Complete the sentence and discuss the implications.
2. What was the most interesting thing you learned from this article?
3. Would you like to be an assistant to a “star”? Discuss why or why not.
4. Why would being a financial assistant come with financial risks?

Source:
Schrodt, P. (2017) Inside the Strange and Fascinating World of Celebrity Money Handlers. Time.com, Nov. 29 (Retrieved online at http://time.com/money/5039650/inside-celebrity-money-handlers/)

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, Auditing, Cost Accounting, Ethical Dilemma, Fraud Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized, Video Updates.

According to Mother Jones, in 10 months, the Trump administration has yet to approve a single claim to help defrauded students of such for-profit colleges as Corinthian or ITT.

Questions:
1. Who is now calling on the Department of Education to resume helping students who borrowed loans from the fraudulent for-profit colleges?
2. Approximately how many people have been defrauded from Corinthian and ITT?
3. How many borrower defense claims had been approved under the Obama administration?
4. Why did Betsy DeVos draw criticism from consumer advocates and lawmakers when, at a conference in Michigan, regarding this issue?

Source:
Rios, E. (2017). The Trump Administration Has Yet to Approve a Single Student Debt Relief Claim. Mother Jones, Nov. 15 (Retrievable online at http://www.motherjones.com/politics/2017/11/the-trump-administration-has-yet-to-approve-a-single-student-debt-relief-claim/)

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Income Taxes, Intermediate Accounting, Managerial Accounting, Uncategorized.

According to the New York TImes, Republicans in the House of Representatives have just passed a tax bill that would devastate graduate research in the United States.

Questions:

1. What would be the result if universities try to cover the tuition that will now be taxed for graduate students?
2. How does the American public benefit from graduate students?
3. What happens to the Lifetime Learning credit as a result of this bill?
4. Is this bill now law? Explain.

Source:
Rosseau, E. (2017). he House Just Voted to Bankrupt Graduate Students. The New York Times, Nov. 16 (Retrievable online at https://www.nytimes.com/2017/11/16/opinion/house-tax-bill-graduate-students.html)

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Intermediate Accounting, Managerial Accounting.

According to the Washington Post, Walmart, which has worked hard to shed its image as an old-school retailer, recently offered proof that its efforts are working: Online sales rose 50 percent, the company said, as more Americans flocked to Walmart.com for everyday items.

Questions:
1. After the announcement about the increase in online sales, what happened to Walmart shares?
2. What has Walmart done to expand its online reach?
3. How much are Americans expected to spend this Holiday season?
4. What are the projections for Target?

Source:
Bhattarai, A. (2017). Walmart, gaining on Amazon, says its online sales grew 50 percent. The Washington Post, Nov. 16 (Retrievable online at https://www.washingtonpost.com/news/business/wp/2017/11/16/walmart-gaining-on-amazon-says-its-online-sales-grew-50-percent/?hpid=hp_hp-cards_hp-card-technology%3Ahomepage%2Fcard&utm_term=.adf499a21bea)

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Income Taxes, Intermediate Accounting, International Accounting, Managerial Accounting, Video Updates.

If you have not had a chance to read about the Paradise Papers, you owe it to yourself to read this article about Nike. Nike is avoiding taxes by charging themselves for intellectual property. This is a story involving grey areas and loopholes, tax havens and zero tax rates, and the movement of money and royalties from one jurisdiction to the next. Intrigued?

Questions:
1. Where are Nike shoes made?
2. What is the Netherlands connection to Nike?
3. What is the Bermuda connection to Nike?
4. Where is the tax residence of Nike Innovate? What is Nike Innovate?

Source:

N. Hopkins and S. Bowers. (2017) Revealed: how Nike stays one step ahead of the taxman. The Guardian, Nov. 6 (Retrievable online at https://www.theguardian.com/news/2017/nov/06/nike-tax-paradise-papers)