Bye, Bye to Tens of Thousands of Dollars of Debt for a Certificate

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

Despite intensive lobbying efforts and lawsuits by the Association of Proprietary Colleges (APC), a U.S. District federal judge denied a challenge to the Obama administration’s rules limiting the amount of debt students can carry in career-training programs. This decision delivers a blow to the deteriorating for-profit college industry. Questions: 1. What are the new rules… Read more »

Good News for the Class of 2015!

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According to the Washington Post, the New York Federal Reserve found that the demand for college-educated workers has picked up over the past year after flatlining in 2013. Additionally, it has risen more than 10 percent in the first few months of this year. Questions: 1. How many people were unemployed at the peak of… Read more »

Severe Cuts for Higher Education in Louisiana….Who’s Next?

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Governor Bobby Jindal’s new budget in Louisiana proposes off-setting declines in oil revenue by cutting $1.6 million from the budget of state higher education institutions. At the same time as it is predicted that 60% of adults in 2025 will have to have postsecondary credentials in order for the U.S. to maintain its economic edge,… Read more »

A Legalized Scam?

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Most people do not shop around for title insurance when they buy a home. Instead, they usually just go to the title insurance company that the real estate agent recommends.This article highlights the problem with this model. Questions: 1. Using the fraud triangle, discuss what factors are at work in the title insurance industry. 2…. Read more »

Bad may be Good?

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While it wasn’t a particularly good 2014 for big pension fund earnings, those who managed the funds saw incredible pay! According to the New York Times, the top 25 hedge fund managers reaped $11.62 billion in compensation in 2014. Yes, that’s billions with a “B”! Questions: 1. The 2014 compensation of the top 25 hedge… Read more »

The Hidden Costs of Beautiful Nails

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Manicures were once for special occasions only. Now they have become a staple for women across the economic spectrum. With more than 17,000 nail salons in the United States, there are about 2,000 nail salons in New York City alone. This New York Times research article looks at the dirty little secret of exploitation of… Read more »

Schedules: The Next Labor Fight

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While the minimum wage issue has come to the top of political agendas over the past few years, it appears that the new frontier in labor reform will be schedules and pushing back against the corporate trend to time shifts when labor is needed. Questions: 1. What are some of the requirements that proponents hope… Read more »

Like-Kind Exchange Being Challenged in the Art World

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According to Josh Baer, “You can defer millions of dollars of taxes,” with the like kind exchange for high-end art.Experts say the use of this tax break has expanded in response to surging prices for art and the rising number of savvy investors, often veterans of the real estate industry or Wall Street, who have… Read more »

We Pay Top Dollar for Musicians!

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Overbuilding has led to ghost towns in China with towering rows of luxury apartments sitting completely empty, especially in smaller cities in China’s hinterlands. However, the real estate companies who now must sell these empty towns believe that filling their remote buildings with foreign faces, even for a day, suggests that the area is “international.”… Read more »

Don’t speed in Finland!

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In Finland, speeding infractions fines are calculated according to income. This article notes that in Nordic countries, like Finland, many citizens believe that the rich people should pay more for the same offense if justice is to be served. Questions: 1. According to U.S. Tax laws, are speeding tickets tax deductible? 2. How much over… Read more »