Scary Time of Year!

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

This article discusses the important issues surrounding the possibility of an IRS can audit. It points out that the potential for large civil penalties and perhaps even criminal liability can be real and something you should consider before you file. Questions 1. How many of these errors were you aware of before reading the article?… Read more »

The New Parameters of the Advertising War

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

Electronic warfare has broken out between internet users and the $120bn online advertising industry. Questions: 1. According to the article, by what amount did the number of people using ad blocking software increase last year? 2. Do you agree with Mr. Zaneis, general counsel at the Interactive Advertising Bureau, that the free internet that consumers… Read more »

The Clock is Ticking!

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

A new legal quirk could bring a surreal ending to foreclosure casess around the country; the debtors may get to keep their homes without ever having to pay another dime. Questions: 1. Why might tens of thousands of homeowners who have missed more than five years of mortgage payments get to keep their homes without… Read more »

The Slump of the Big Mac?

Posted by & filed under Accounting Principles, Auditing, Cost Accounting, Financial Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized.

According to the CEO of McDonalds, Steve Easterbrook, McDonald’s has an “urgent need to evolve” after unveiling another slide in worldwide sales, which is the ninth month in a row that sales have fallen at the fast-food chain. Questions: 1. How does McDonalds propose to get out of this slump? 2. What is Mr. Easterbrook’s… Read more »

Huge Food Merger

Posted by & filed under Accounting Principles, Cost Accounting, Financial Accounting, Intermediate Accounting, Managerial Accounting, Video Updates.

Heinz is going to buy 51% of Kraft in a deal brokered that is by Berkshire-Hathaway and the Brazilian-based private equity company 3G. As a result, Kraft shareholders will get a $10 billion special dividend (about $16.50 a share) under the deal. Questions: 1. What happened to the price of Kraft shares after this deal… Read more »

A First!

Posted by & filed under Accounting Principles, All Articles, Auditing, Financial Accounting, Intermediate Accounting, International Accounting.

Cathy Engelbert has been named CEO of Deloitte, becoming the first woman CEO of a major U.S. accounting and consulting firm. Questions: 1. What are the names of the Big 4 accounting firms? 2. How long has Ms. Engelbert been with Deloitte? 3. What distinctions does Deloitte hold with respect to hiring? Source: Frizell, S…. Read more »

How many 112 year olds are taking new jobs?

Posted by & filed under Accounting Information Systems, Accounting Principles, Auditing, Cost Accounting, Financial Accounting, Fraud Accounting, Intermediate Accounting, Video Updates.

A recent audit of the Social Security Administration revealed that thousands of workers over the age of 100 applied through the U.S. government to verify their employment eligibility in recent years. Questions: 1. About how many active Social Security numbers in the Administration’s master file belong to people who are at least 112 years old?… Read more »

Huge deal!

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

General Electric Co. has agreed to sell the consumer-lending business of GE Capital in Australia and New Zealand to an investor group. This investor group includes KKR & Co. and Deutsche Bank AG—and the estimated price is about $A8.2 billion or $6.26 billion U.S. Questions: 1. Why is GE selling its banking business? 2. Why… Read more »

Maybe its time to flip a coin

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

According to a recent study, very few professional investors have actually managed to outperform the rising market consistently over the past few years. In fact, based on the updated findings and definitions of a particular study, it appears that no mutual fund managers have. Questions: 1. What is a mutual fund? 2. What does the… Read more »

Be Careful: Your TV may be listening to you!

Posted by & filed under Accounting Principles, All Articles, Auditing, Cost Accounting, Financial Accounting, International Accounting, Managerial Accounting, Uncategorized, Video Updates.

Samsung is warning customers not to discuss personal information in front of their smart television set. The warning applies to TV viewers who control their Samsung Smart TV using its voice activation feature. It is possible that this information will be shared with third parties. Questions: 1. What types of steps has Samsung taken to… Read more »