Posts Categorized: Accounting Information Systems

Bad Legal Advice or Bad Insurance Companies or Bad Laws?

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

One of my favorite quotes is that from author Wendy Mass: “Be kind, for everyone you meet is fighting a battle you know nothing about.” And so it seems that this story may illustrate it well. The article and video discuss the case of Jennifer Connell who sued her nephew, Sean Tarala, for $127,000 over… Read more »

All Day Breakfast

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

In an email to franchisees, McDonald’s US President Mike Andres called the all-day breakfast launch a success. However, this article points to a survey of U.S. franchisees that disagree. Questions: 1. Why are McDonald’s franchisees saying that the all-day breakfast launch has been a nightmare? List the reasons and rank them according to your opinion… Read more »

A Solution for Legal Cannabis Cash?

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

Of the more than 7,600 banks and credit unions in the U.S., only about 220 accept cannabis cash, according to the Department of the Treasury. Questions: 1. If Anthony Rivera Jr. accomplishes his goal, who will be the bankers for legal cannabis cash? In your opinion, is this a good idea? Why or why not?… Read more »

Vintage Frauds

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, Video Updates.

The issue of fake wines started to become headline news a few years ago when the so-called Thomas Jefferson bottles, several old bottles of Bordeaux, claimed to have belonged to Thomas Jefferson were offered by a German wine collector named Hardy Rodenstock. Bill Koch, the brother of the notorious Charles and David Koch, bought four… Read more »

What’s going on with Walmart stock?

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

The four members of the Walton family controlling more than half the shares of Wal-Mart Stores Inc. had $11 billion of their combined net worth evaporate Wednesday as shares of the retailer plunged on a lower earnings outlook for the coming fiscal year. Questions: 1. Who are the four Waltons that the article is talking… Read more »

Frauds in Small Family-owned Wineries

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

There have been a number of examples of wine-related crimes in recent times. In the wine industry, the most trusted employee could be the person least suspected of committing fraud. This article details some of the most recent frauds in the wine industry. Questions: 1. What types of fraud are highlighted in the article? 2…. Read more »

Huge Merger

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

To keep up with the changing technology environment, computer maker Dell will buy the storage provider EMC in a deal worth about $67 billion, the companies announced today, Oct. 12. Questions: 1. What are some of the benefits of the new combined company? 2. How much is Dell going to pay per share of EMC?… Read more »

Fueling Both the Upside and Downside

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

In the wake of the financial crisis, HUD established the Dirtressed Asset Stabilization Program. Unfortunately, this program has allowed many of these loans to be sold to hedge funds and private equity firms, rather than nonprofits. Questions: 1. What have the private equity firms done that Senator Warren is rallying against? 2. How many distressed… Read more »

American Apparel Bankruptcy

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

American Apparel has been in the middle of a turnaround effort that includes store closings and some layoffs. The company also faces several lawsuits from ousted CEO Dov Charney. Now they face the bankruptcy court. Questions: 1. What were the allegations against previous CEO Charney and what types of financial strains has this put on… Read more »