Posted by & filed under Uncategorized.

According to the Business Insider, for years, the US government has supported the dairy industry to encourage production, but the rising costs and falling returns have forced some farmers to ditch cows altogether.

Questions:

  1. What happened to milk prices during the Great Depression?
  2. What did the government do to make sure keep milk prices high after WWII?
  3. Briefly explain what President Reagan did about the government support program for milk in the early 1980s?
  4. In 1993, what was the advertising campaign to promote milk?
  5. Why can’t smaller family farms make a profit? What is the operative number of cows to make a profit?

Source:

Nixdorf, K. and B. Stephanis (2021). The US is producing more milk than ever, even as Americans are drinking less of it. Here’s why. Business Insider, Nov. 4, (Retrievable online at https://www.businessinsider.com/rise-and-fall-of-milk-dairy-industry-2021-11)

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Ethical Dilemma, Financial Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized.

According to the Washington Post, Twitter CEO Jack Dorsey announced his resignation from the social media giant.

Questions:

  1. How did the CEO of Twitter, Jack Dorsey, announce his departure and was it expected?
  2. Who did Mr. Dorsey put in charge?
  3. When Mr. Dorsey announced this, what happened with the stock market and the employees at Twitter?
  4. Since Dorsey left Twitter, how does this give Mark Zuckerberg a distinction among major Silicon Valley service firms?

Source:

 Dwoskin, E. and R. Lerman. (2021). Twitter CEO and founder Jack Dorsey steps down from leadership. The Washington Post, Nov. 29 (Retrievable online at https://www.washingtonpost.com/technology/2021/11/29/dorsey-steps-down-twitter/)

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Ethical Dilemma, Financial Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized.

According to the New York Times, Austin, Texas has now surpassed It has the hot housing markets in Boston, Miami and New York City. But, how did Austin become one of the least affordable cities in America?

Questions:

  1. What was the average number of new residents moving to the Austin every day in 2020?
  2. What was the median home price in Austin during October 2021?
  3. What factors have led to this explosive growth?
  4. Explain briefly why this growth has led to the tale of two Austins.
  5. Would this be a good place for you to move for your first accounting staff position after graduation? Why or why not?

Source:

Sandoval, E. (2021). How Austin Became One of the Least Affordable Cities in America. The New York Times, Nov. 29 (Retrievable online at https://www.nytimes.com/2021/11/27/us/austin-texas-unaffordable-city.html)

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

According to the IndiaTimes.com, this is a sustainability concept on steroids!

Questions:

  1. What is the concept behind this already profitable startup?
  2. How old is its founder and where is the startup located?
  3. Would you buy this product?
  4. If you were the accountant advising this company, what would be your main concerns?
  5. What is the company name?

Source:

Sharma, B. (2021). 23-Year-Old Indian’s Startup ‘Thaely’ Turns Plastic Waste Into Sneaker Shoes. IndiaTimes.com, Nov. 17 (Retrievable online at https://www.indiatimes.com/technology/news/thaely-plastic-waste-shoes-554397.html)

 

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

According to the New York Times, rising prices have affected both consumer goods and some government savings bonds. However, they could also benefit investors looking for safe spaces for their money.

Questions:

  1. What type of return will the new series I savings bonds, known as inflation bonds to be issued in the next six months, earn?
  2. How does this rate compare to other government bonds issued?
  3. How does the rate of the I series compare to one-year, online certificates of deposit?
  4. Would the I series bonds be considered cash equivalents?

Source:

Carrns, A. (2021). Inflation Bonds Are Getting a Big Rate Bump. The New York Times, Nov. 5 (Retrievable online at https://www.nytimes.com/2021/11/03/your-money/series-i-bonds-inflation-rate.html)

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

According to the New York Times, a new startup has come up with a new idea to reforest the planet where wildfires have taken their toll.

Questions:

  1. What is this innovative idea and what type of technology is used?
  2. Where is the startup located?
  3. If you were an accountant advising this startup, what would be some of the concerns that you would pass along to them?
  4. What percentage of growth is considered a success?

Source:

Chaundler, R. (2021). Can Seeds Planted by Drones Spawn New Forests? The New York Times, Oct. 31 (Retrievable online at https://www.nytimes.com/2021/10/31/climate/deforestation-seeds-environment.html)

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Ethical Dilemma, Financial Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized.

According to Leonardo Matignas, it’s time to build boards of directors in a “future-fit” direction.

Questions:

  1. According to an EY survey, what percentage of CEOs around the world agree that public opinion will become as important to companies as their investors in the next five to 10 years? 
  2. At the same time what percentage of the general global population feels that companies are capable of increasing profits and improving the social and economic conditions of the communities where they operate?

Source:

L. Matignas. (2021). Building a future-fit board. Business World, Nov. 7 (Retrievable online at https://www.bworldonline.com/building-a-future-fit-board-2/)

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Financial Accounting, Fraud Accounting, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized, Video Updates.

Jordan Strauss, managing director in the Forensic Investigations & Intelligence Practice of Kroll, LLC, details the major risks of corruption existing in supply chains today, and offers tips on addressing them.

Questions:

  1. Normally, where are the greatest risks in supply chains?
  2. How have risks changed in the supply chain during the COVID-pandemic?
  3. What percentage of suppliers, customers, agents and distributors cite a lack of visibility over third parties as the leading source of bribery and corruption today?
  4. How do you develop a risk adjusted approach to an organization? 

Source:

Bowman, R. (2021). How a Lack of Supply Chain Visibility Fuels Corruption Risk. Supply Chain Brain.com, November 8 Retrievable online at https://www.supplychainbrain.com/articles/34061-watch-how-a-lack-of-supply-chain-visibility-fuels-corruption-risk).

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Ethical Dilemma, Financial Accounting, Income Taxes, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized, Video Updates.

According to a new survey as reported by Accounting Today, midsized businesses spend 163 hours per month on sales tax compliance, typically costing more than $17,000.

Questions:

  1. Which industry had the highest total estimated costs per month?
  2. What percentage greater in the amount of time was spent by the retail industry as compared to the manufacturing industry? How would you rationally explain this difference to another student?
  3. What type of companies had the highest sales tax audit rate and what percentage was it?

Source:

Cohn, M. (2021). Businesses spend heavily on sales tax compliance Accounting Today, Oct. 21 (Retrievable online at https://www.accountingtoday.com/news/businesses-spend-heavily-on-sales-tax-compliance)  

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Financial Accounting, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized.

According to the Washington Post, Striketober is upon us, with factory workers, nurses and school bus drivers among the thousands of Americans who walked off jobs in October.

Questions:

  1. According to the article, what are some of the reasons for so much striking?
  2. Is there any linkage between the “Great Resignation” and the increased striking? Explain.
  3. Have the strikes been effective for workers? Explain.

Source

Bogage, J. and A. Fower. (2021) Workplace strikes are surging. Here’s why they won’t stop anytime soon. The Washington Post, Oct. 31 (Retrievable online at https://www.washingtonpost.com/business/2021/10/31/faq-striketober/)