Barriers to Board Positions

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.

A recent report about the composition of Boards of Directors over the last seven years indicates that the greatest obstacle for minorities in gaining entry to the boardroom is the lack of operating or financial experience. According to the report, networks of white men who connect through college, work and social activities feel more comfortable… Read more »

Say it ain’t so, Phil.

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

Professional golfer Phil Mickelson was recently named in an SEC complaint regarding insider trading information that he received from William Walters, a sports gambler. Questions: 1. During what period did the insider trading take place? 2. Phil has been named as a “relief defendant.” What does that mean? 3. What shares did Phil buy and… Read more »

A Fraud Caught by a Channel-Surfing Judge!

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

Dance Moms, a show on Lifetime TV is in its 6th season. The host is Abby Lee Miller, who is facing 20 counts of fraud due to allegations that she fudged specifics when it came to a bankruptcy filing. If found guilty on all counts, Ms. Miller is facing $5 million in fines and five… Read more »

The Shipping News

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According to a study released last Tuesday, U.S. multinational companies are saving $100 billion a year by shifting their profits overseas to lower their tax bills. Questions: 1. Is this tax fraud? Why or why not? 2. Explain the mechanism they are using. 3. Which countries are companies shifting profits to and why (be specific)?… Read more »

The new global business shield

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting.

Some Chinese state-owned entities, backed by the key government agency that oversees major state industrial companies, have adopted a controversial defense when they face U.S. lawsuits – we enjoy sovereign immunity. Questions: 1. The article says that this policy is an indication of something much deeper. What is that? 2. The article mentioned Chinese audit… Read more »

Fine Print – Gotcha!

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Tara Zoumer thought she had found her dream job when she was hired at WeWork, a $16 billion start-up that rents office space to young entrepreneurs. As a salaried employee, she was soon asked to expand her duties to include many things that an hourly custodian should do. When she tried to get other employees… Read more »

Suit without merit?

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

A $5 million suit was filed in Federal court alleging that Starbuck’s is deceiving customers by filling drinks with too much ice. Questions: 1. Based on the allegation, do you think that Starbuck’s should report the lawsuit as a contingency in their upcoming annual report? Why or why not? 2. Besides claiming that too much… Read more »

Collateral damage

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The government set up an elaborate sting operation to expose a network of recruiters for visa mills. The only problem was that some students claim that they thought the “honey trap” was a legitimate organization and were duped by the U.S. government. Questions: 1. Briefly explain the sting scheme. 2. After reading the article, do… Read more »

A Good Case for Whistleblower Status?

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The executive director of an arts charity, D. Alexandra Dyer, was attacked with drain cleaner last year. On Friday, she was fired by the board of the charity, along with the financial officer who helped her unearth what the authorities have called a $750,000 embezzlement scheme. Questions: 1. What led up to the “Drano” attack?… Read more »

HUUUUGGGGGEEEEE Shift!

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

In an apparent rejection of the basic principles of the U.S. economy, a Harvard University poll shows that most young people do not support capitalism. Questions: 1. What percentage supported socialism? 2. Why are the results of the survey difficult to interpret? 3. What did the survey say about health insurance? 4. What did you… Read more »