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

Questions:
1. What did you think was the most interesting thing that Keltner and Piff found out as part of their experiments?
2. Why should we care about the ethics of wealthy people?
3. According to the article, what does power lead to?
4. In your opinion, what was the most remarkable point made in the article?

Source:
Wan, W. (2018). Are rich people more likely to lie, cheat, steal? Science explains the world of Manafort and Gates. The Washington Post, Aug. 13 (Retrievable online at https://www.washingtonpost.com/news/speaking-of-science/wp/2018/08/13/are-rich-people-more-likely-to-lie-cheat-steal-science-explains-the-world-of-manafort-and-gates/)

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

According to the New York Times, attorneys general in 10 states are moving to investigate whether a clause in fast-food franchise agreements is preventing workers from switching jobs and, therefore, locking them into low-paying positions and, some economists say, contributing to widespread wage stagnation in the United States.

Questions:
1. Briefly explain how these clauses contribute to wage stagnation.
2. According to the Bureau of Labor Statistics, about how many people work at fast-food restaurants?
3. What is McDonald’s position on these clauses?
4. What restaurants are targeted by the AG inquiry?
5. In your opinion, what was the most interesting point in this article?

Source:
Abrams, R. (2018). ‘No Poach’ Deals for Fast-Food Workers Face Scrutiny by States. July 9 (Retrievable online at https://www.nytimes.com/2018/07/09/business/no-poach-fast-food-wages.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.

This article discusses how many companies are employing aggressive legal tactics and taking advantage of loosely written state laws, to push for restitution even when people have not been convicted of wrongdoing.

Questions:
1. How much does shoplifting cost stores each year?
2. What happens in many states to payments made to retailers before court proceedings if shoplifting cases are ultimately dismissed or the people are cleared?
3. In your opinion, what was the most remarkable point made in this article?
4. How do you think retailers account for these payments (prior to court) in the ledger? Present an example journal entry.

Source:
Corkery, M. (2018). They’re Falsely Accused of Shoplifting, but Retailers Demand Penalties. The New York Times, August 17 (Retrievable online at https://www.nytimes.com/2018/08/17/business/falsely-accused-of-shoplifting-but-retailers-demand-they-pay.html)

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)

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

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)

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

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)

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

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)