Posts By: LuAnn Bean

Security for the Super Rich

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Intermediate Accounting, Video Updates.

Dan Clark has been Warren Buffett’s bodyguard for almost two decades. Since Clark has cultivated his security skills, he has started a security company that now employs 150 guards and he has safeguarded others like Sarah Palin, George Clooney, Barack Obama, and the Iraqi Judge who oversaw the trial of Saddam Hussein, when they visited… Read more »

Would you like to know what everyone in your company makes?

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Intermediate Accounting.

Boulder-based Namasté Solar, a Solar panel installation company, may be on the cutting edge of business practices by letting employees know what their co-workers are being paid. In addition to bi-annual retreats and a voting system for employees that counts the opinion of nearly everyone in the company, each employee receives equal bonuses. Questions: 1…. Read more »

Another Loan Modification Nightmare!

Posted by & filed under All Articles, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, IFRS, Intermediate Accounting, Video Updates.

When will these stories end? Lily Washington started a loan modification process with Bank of America (BoA). However, shortly thereafter her son was injured in Iraq and she had to travel to a military hospital in Germany to be with him. Although she had notified the bank and received a written response that they would… Read more »

Helium Crisis

Posted by & filed under Accounting Principles, All Articles, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, IFRS, Intermediate Accounting, Managerial Accounting, Video Updates.

There’s a severe helium shortage brewing in the U.S., thanks to a 1996 law set by Congress to force the government to sell off its helium reserves at bargain-bin prices. As this video explains, the nonrenewable gas is much more important for products other than balloons! 1. What products use helium? 2. What are the… Read more »

Patagonia: A Vision for Sustainability

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Video Updates.

Patagonia started out as a small company that made tools for climbers. The company’s worldwide business still embraces Alpinism remains at its heart, making clothes for climbing – as well as for skiing, snowboarding, surfing, fly fishing, paddling and trail running. True to its love for nature, the company’s founder, Yvon Chouinard, launched the company… Read more »

The Price of Transparency in Hospitals

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized.

One of the biggest problems today is that consumers have no way of figuring out how much a particular health care service costs. Unfortunately, a recent Arizona bill to encourage hospitals and doctors to become more transparent about the prices they charge for services was just killed by the state legislature. The bill would have… Read more »

Tsunami of fraud

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized.

Watch out Florida! Coming to a town near you! Identity theft has violent criminals trading guns for laptops. Ledgers are stolen for social security numbers in order to file phony tax returns. Most times, refunds are returned on convenient but hard-to-trace prepaid debit cards. In addition, postal workers have been harassed, robbed and, in one… Read more »

Double Jeopardy Foreclosures – BEWARE!

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized, Video Updates.

Foreclosure has been a terrible tragedy for many Americans during this economic downturn. The only ray of light for some is that once a foreclosure is settled, there is some relief from no longer being in debt. However, Heritage Pacific Financial of Plano Texas company has been one company that continues to victimize people with… Read more »

Gotcha Ya’

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Uncategorized.

Four high-ranking federal lab workers found a way to turn “per diem” funds for a temporary assignment into a steady flow of extra income at taxpayers’ expense. Questions: 1. Explain “per diem.” 2. Based on the article, approximately how much money did each scientist receive fraudulently, per year? 3. How was the scheme discovered and… Read more »