Student Loan Forgiveness – To Forgive or not to Forgive, that is the Question!

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

It’s been over a month since fifteen former students of Corinthian Colleges said they would not pay a dime of their student loans because the school broke the law. The failing for-profit giant used deceptive marketing and lied to the government about its graduation rates. The Consumer Financial Protection Bureau invited a group of these… Read more »

Need a Repair? Need Drum Lessons?

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

Need a plumber? If Amazon.com succeeds, it will soon be a very large marketplace of home services and will connect customers with electricians, plumbers and painters in a move to have its services tied to every product sold on its website. Questions: 1. How will this change Amazon’s chart of accounts? 2. Provide three accounts… Read more »

The World of Drones

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

At a farm in Dublin, Ireland, Paul Brennan took a video that has gone viral for its creativity in using drones – rounding up sheep. Questions: 1. Put on your thinking cap. Is there any task that a drone could do in the future to assist the accountant or auditor? 2. Besides Amazon, what other… Read more »

Tax Laws for Tangible Property

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Late in 2013, the IRS issued final regulations regarding repair regulations and rules regarding the treatment of expenditures for acquiring, maintaining, or improving tangible property. The IRS issued final regulations on the treatment of disposing tangible property in 2014. This article provides guidance on the capitalization and expenditure rules contained within the regulations. Questions: 1…. Read more »

No longer Big Brother watching – Now its Big Teacher!

Posted by & filed under Accounting Information Systems, Accounting Principles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting.

At Rutgers University, online student must download Proctortrack, a new anti-cheating technology, prior to taking exams. Questions: 1. Did you agree or disagree that the software was intrusive? Discuss the pros and cons of it. 2. Do you agree or disagree that human behavior in test taking can be reduced to an algorithm? Discuss. 3…. Read more »

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 »

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 »