Posts Categorized: Accounting Information Systems

A Tale of the Fake Heiress

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

A penniless young woman, who left Russia in 2014 and faked her way to Manhattan as an “heiress,” is now facing up to 15 years in prison. How did Ms. Sorokin bilk a bank out of $100,000? What charges does Ms. Sorokin face? Why did Ms. Sorokin’s lawyer, Todd Spodek, argue that she had not… Read more »

Just write NM a check

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.

According to the Associated Press, a powerful New Mexico regulatory authority is requiring the state’s largest utility to bill Facebook $39 million for a new transmission line construction for its data center — a move the social media giant says it was not expecting. Questions: What is the total cost for the transmission project for… Read more »

Sears Sues

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

According to CNN, the remains of defunct Sears Holdings is suing Eddie Lampert, the man who was its previous CEO and primary shareholder, alleging he improperly stripped the company of assets as it hurdled toward bankruptcy. Questions: In addition to Eddie Lampert, who else is named in the suit for the theft of Sears’ assets?… Read more »

Cars To Go

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

According to Buzz Feed News, police are questioning more than a dozen people over the theft of 100 expensive automobiles in Chicago after a car sharing company reported that some of its fleet was stolen using its mobile app, forcing it to temporarily shut down the service in the city. Questions: What are most of… Read more »

Pay for Play

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

Yale University has rescinded the admission of a student that officials at the school say was involved in a nationwide college entrance fraud that ensnared 50 people, including Hollywood actresses and CEOs, some of whom have already appeared in court. Questions: To make this scam work, who was “on the take” inside Yale? Who was… Read more »

Another Walmart PR disaster

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, Video Updates.

Walmart’s disabled greeters are being replaced by “customer hosts,” with growing responsibilities. Questions: 1. Why has this been such a PR disaster for the company? 2. How many days were the greeters given to find new jobs? 3. What is the new job of “customer hosts” meant to do? 4. What are your thoughts about… Read more »

The U.S. Trend to Ban Cashless Retailers

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

According to Axios, while big chains like Amazon Go, Sweetgreen, and Shake Shack are fast eliminating cash sales, U.S. cities and states are fighting against this trend. Questions: 1. Why are states like New Jersey and cities like Philadelphia banning cashless retailers? 2. What percentage of U.S. sales are made with cash? 3. What is… Read more »

A Story That will Tug at your Heart Strings!

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.

In Germany, a family owing a debt had the family dog seized by the city of Ahlen. The City then sold the dog on EBay in order to pay for the debt. Questions: 1. What were the other assets that they considered seizing? 2. Who bought the dog and what was the new owner skeptical… Read more »

Amazon Air?

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

According to StockNews.com, Amazon is becoming a player in the logistics and shipping industry. Questions: 1. How many planes does Amazon have? 2. Where will its new hub be and how much does it cost? 3. How much did shipping costs increase for Amazon this year? 4. Which airport recently dethroned Atlanta as the top… Read more »

Are you one of them?

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

When millions of Americans began filling out their 2018 taxes, they were surprised to learn that their refunds will be less than expected or that they owe money to the Internal Revenue Service after years of receiving refunds. Questions: 1. How are some people protesting via social media? 2. Why have refunds decreased? 3. How… Read more »