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

According to this article, Dollar General, the fastest-growing retailer in America, is blasting across Middle America opening stores at the rate of three a day in failing towns that Wal-Mart won’t go to.

Questions:
1. What is the claim that Dollar General makes about its stores and the population that surround them?
2. What are the costs associated with Dollar General coming to the small towns in the Heartland?
3. What are the benefits associated with Dollar General coming to small towns in the Heartland?
4. Based on the article, do you think Dollar General’s strategic model is sustainable? Discuss.

Source:
McGreal, C. (2018). Where even Walmart won’t go: how Dollar General took over rural America. The Guardian, August 12 (Retrievable online at https://www.theguardian.com/business/2018/aug/13/dollar-general-walmart-buhler-haven-kansas)

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Emergent BioSolutions, a Maryland-based pharmaceutical company that provides infectious-disease vaccines for the U.S. government, is about to add cholera and typhoid vaccines to its arsenal of preventives.

Questions:
1. What is Emergent’s link to the defense contracting market?
2. According to the article, briefly describe Emergent’s corporate history.
3. What health issues does the PaxVax acquisition serve?
4. What is Emergent’s revenue target for 2020?
5. Based on Emergent’s most current quarterly revenue and its projections for PaxVax, does this seem doable? Discuss and show calculations to make your case.

Source:

Gregg, A. (2018) Emergent BioSolutions to acquire cholera and typhoid vaccines in $270 million deal. Washington Post, Aug. 12 (retrievable online at https://www.washingtonpost.com/business/capitalbusiness/emergent-biosolutions-to-acquire-cholera-and-typhoid-vaccines-in-270-million-deal/2018/08/12/6f7165b6-9be1-11e8-8d5e-c6c594024954_story.html?utm_term=.a9b702af64eb)

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In a new study from the University of Toledo, researchers found that an increase in exposure to blue light can accelerate blindness.

Questions:
1. How does this mechanism work?
2. Does your cell phone have blue light? How many devices do you have or use, which have blue lights?
3. What suggestions does the article offer to avoid exposure?
4. How do you think this study will influence the development of products?

Source:
Karangu, J. (2018) Blue light from your smartphone could speed up blindness, study shows. Komonews.com (Retrievable online at https://komonews.com/news/offbeat/blue-light-from-your-smartphone-could-speed-up-blindness-study-shows)

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

Apple made history this week by becoming the first $1 trillion publicly traded U.S. corporation on Thursday.

Questions:

1. How many years has it been since the 1st company became a $1 billion U.S. corporation?
2. What company was the first $1 billion U.S. corporation?
3. What companies are close behind Apple’s $1 trillion?
4. If you invested $10,000 in Apple when it first sold publicly traded stock at its initial public offering price of $22 in December 1980, how much would it be worth now, with reinvested dividends?

Source:
Heath, T. (2018). Apple makes history by hitting the $1 trillion cap. How high could it go? Washington Post, Aug. 3 (https://www.washingtonpost.com/business/economy/apple-has-made-history-by-hitting-the-1-trillion-cap–but-what-does-that-mean/2018/08/03/74525746-9670-11e8-810c-5fa705927d54_story.html)

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

Congress passed major tax legislation at the end of last year that could affect your refund if you are one of the people who usually look forward to a refund.

Questions:
1. According to the article, based on the new 2018 withholding tables, what percent of people have too much in taxes withheld?
2. What percentage of people have too little in taxes withheld?
3. Who did the study and why?
4. What effect might the new standard deductions have on your withheld amounts?

Source:
Singletary, M. (2018). Counting on a tax refund next year? Double-check your withholdings now. Washington Post, Aug. 2 (Retrievable online at https://www.washingtonpost.com/business/2018/08/02/counting-tax-refund-next-year-double-check-your-withholdings-now/?utm_term=.67987d806cf0)

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

In a recent regulatory filing, Wells Fargo disclosed that between 2010 and 2015, they foreclosed on 400 homeowners after improperly denying them loan modifications that could have allowed them to stay in their homes.

Questions:
1. According to the article, how did this happen?
2. How do they plan to compensate these people?
3. Do you think this is fair? Why or why not?
4. How was this problem found?
5. What customer problems has Wells Fargo had in the past?

Source:
Koren, J.R. (2018). Wells Fargo foreclosed on 400 people who may have had a chance to keep their homes. L.A. Times, Aug. 3 (Retrievable online at http://www.latimes.com/business/la-fi-wells-fargo-foreclosures-20180803-story.html)

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Despite looming tax deadlines, the accountant that is ready in a minute’s notice can save a needy NHL team.

Questions:
1. What team did Scott Foster sub for?
2. What was his performance that evening?
3. How did Scott become eligible to be the backup goalie?
4. What was your favorite part of this Cinderella story?

Source:
Greene, N. (2018). How a Full-Time Accountant Ended Up Playing in Goal for the Chicago Blackhawks. Slate, March 30 (Retrievable online at https://slate.com/culture/2018/03/how-a-full-time-accountant-played-14-minutes-in-goal-for-the-chicago-blackhawks.html)


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Barbara Carroll’s quick trip to the bank turned into a nearly three-hour ordeal after a Wells Fargo branch accused the 78-year-old black woman of forgery.

Questions:
1. How many forms of identification did Ms. Carroll have to show?
2. Why is Ms. Carroll suing the bank and why does she want a jury trial?
3. In your opinion, what was the worst part of Ms. Carroll’s encounter?
4. Would you have done anything different from what Ms. Carroll did in that situation?
5. What did the teller do after the incident?
6. What did the bank do after the incident?

Source:
Logan, E.B. (2018). A black woman says Wells Fargo didn’t want to cash her check. She’s suing for discrimination. Washington Post, July 27 (Retrievable online at https://www.washingtonpost.com/news/business/wp/2018/07/27/a-black-woman-says-wells-fargo-didnt-want-to-cash-her-check-shes-suing-for-discrimination/)

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Researchers used U.S. Census information paired with anonymous credit report data on more than four million Americans to study the age profile of people whose medical bills were sent to a US collections agency in 2016.

Questions:
1. What did they find out about the average size of medical debt for patients 27 to 64?
2. Approximately what percentage of consumers have an unpaid medical bill that has been referred to a collection agency?
3. Why do individuals 65 years and older have costlier medical bills but little medical debt?
4. If you could make a difference, what would you suggest to Congress about the solution to the problems mentioned in this article?

Source:
Kuehner-Hebert, K. (2018). As if student loans weren’t enough, millennials also rack up the most medical debt. Benefits-Pro, July 30 (Retrievable online at https://www.benefitspro.com/2018/07/30/as-if-student-loans-werent-enough-millennials-also/?kw=As%20if%20student%20loans%20weren%27t%20enough%2C%20millennials%20also%20rack%20up%20the%20most%20medical%20debt&et=editorial&bu=BenefitsPRO&cn=20180730&src=EMC-Email&pt=NewsAlert&slreturn=20180630123922)

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

Fiat Chrysler on Saturday announced the sudden resignation of longtime CEO Sergio Marchionne, who is stepping down due to complications from surgery.

Questions:
1. Who will be replacing Sergio?
2. When Chrysler emerged from bankruptcy in 2009, what happened?
3. What’s the outlook for Dodge and Chrysler?
4. What’s going on with current Fiat sales?

Source:
Wattles, J., et al (2018). Sergio Marchionne, auto legend, steps down as CEO of Fiat Chrysler. CNN, July 21 (Retrievable online at https://money.cnn.com/2018/07/21/news/companies/sergio-marchionne-fiat-chrysler-stepping-down/index.html)