Billing Outlier or Fraud?

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, Intermediate Accounting, Managerial Accounting, Video Updates.

According to the Washington Post, Medicare spent $152 per member in the Huntsville, Ala., medical marketplace — 38 times the national average — for “unclassified” drug injections, including a type of injection used rarely around the country but used thousands of times a year at the Alabama Pain Clinic in Huntsville. Questions: 1. Why is… Read more »

Is the Federal Government a Risk to Turbo Tax: Read the Filings with the SEC?

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, Fraud Accounting, IFRS.

Free filing of taxes with the Federal government is a concept that has been endorsed by Presidents Obama and Reagan and is already a reality in some parts of Europe. But why isn’t it a reality? Liz Day’s article provides some evidence that the organization, Computer & Communications Industry Association (CCIA) has launched aggressive efforts… Read more »

Brave New World: The Interpretation of Liking a Product on Facebook

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In an April 16 New York Times article, Stephanie Strom reported that ” General Mills, the maker of cereals like Cheerios and Chex as well as brands like Bisquick and Betty Crocker, has quietly added language to its website to alert consumers that they give up their right to sue the company if they download… Read more »

Billions in American Aid Money Stolen or Wasted?

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Beginning as a small, international humanitarian not-for-profit organization in 1998, the International Relief and Development (IRD) organization has received more grants and cooperative agreements from USAID in recent years than any other nonprofit relief and development organization in the nation — $1.9 billion. Unfortunately, companies such as IRD manage hundreds of millions of dollars’ worth… Read more »

Will your digital brain let you slow down?

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What are the consequences of reading with the interactivity of the Internet? Researchers warn that people seem to be developing digital brains with new circuits for skimming through the torrent of information online and this is actually competing with our traditional deep reading circuitry. Questions: 1. How do you think that this could impact auditors… Read more »

Private Student Loan Changes

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With over 90 percent of private loans being co-signed, the Consumer Financial Protection Bureau (CFPB) is urging private lenders to ease automatic default rules on student loans. Complaints have risen dramatically within the last five months concerning the trigger of a default when a co-signer of a student loan dies or declares bankruptcy, even if… Read more »

Antitrust Hiring Suit Settlement by Technology Companies

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Approximately 64,000 engineers won a victory over their technology companies, but did not win much money. At issue, a class action suit claimed, was an agreement by the four technology giants – Google, Intel, Adobe and Apple – not to poach each others’ employees. The engineers argued that this private old boy’s network agreement caused… Read more »

Here’s a Warning for Dog Lovers!

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Over approximately the last seven years (or 2,643 days), at least 600 dogs have died and thousands of others have been sickened by jerky treats. However, while the FDA has warned against this apparent link, the culprit has remained largely a mystery. Questions: 1. Have the illnesses only affected dogs? Why is the FDA limited… Read more »

When will paper records be a thing of the past at Iron Mountain?

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There are 600 employees of the federal government’s Office of Personnel Management processing retirement papers of the government’s own workers deep down in a limestone mine in Boyer, PA. No, this is not a joke or prank. The operative word here is “paper.” The old mine’s tunnels have room for more than 28,000 file cabinets… Read more »