Jay-Z settlement prior to fraud charges

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According to Accounting Today, the founder of apparel licenser Iconix Brand Group, which last month settled a high-profile dispute with the rapper Jay-Z, was charged by federal prosecutors with inflating the company’s revenue and earnings. Questions: Who was named in the indictment? What are their roles in the investigation? How much was the civil settlement… Read more »

A Long Time Coming

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According to Business Wire, BDO USA has appointed its first woman chair of the Board. Questions: Who is this woman and how long has she been in the accounting profession? In what primary areas of accounting has she worked? When did she take over this post as chairperson? Source: Business Wire Staff. (2019). BDO USA,… Read more »

Trouble in the Repo Market

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According to the Bank for International Settlements, the Financial Times reports that turmoil in the repo market was fueled by hedge funds need to borrow cash in order to drive returns on trades. Questions: What is the Repo market? Why is the pullback by bank lending a bad sign? Explain the increasingly popular hedge fund… Read more »

What is the Polestar 1?

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The Polestar 1 is a 619-horsepower, high-performance, high-priced, gas-hybrid grand-touring car that’s the first vehicle from Volvo’s new stand-alone brand. Questions: Where is the Polestar 1 built? What company bought Volvo from Ford in 2009? Where is this parent company located? What is the exact sticker price of the Polestar 1? Why is the fact that the Polestar… Read more »

Darkness Expands

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Kroger, one of the largest supermarket chains, is partnering with an Indianapolis startup called ClusterTruck in order to open delivery-only kitchens, known as  “dark” or “ghost” kitchens in Indianapolis, Columbus, and Denver. Questions: What is the new Kroger concept called? Who do they see as their competitors and their advantage over competitors? According to the… Read more »

The Last Act

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After years of continually beating the market with quarterly revenue targets, Parker H. Petit, CEO of MiMedx Group, Inc., was sued by the SEC for  allegedly engaging in a “wide-ranging fraud” to inflate revenue. Questions: What is the industry type in which MiMedx operates? What were the ways in which the company perpetrated the fraud?… Read more »

Falsified Data

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According to the Associated Press, an investigation showed that the Kansas City School District falsified attendance data for three years in a bid to regain full accreditation from the state. Questions: 1. What was the result of overreporting attendance? 2. How many officials were involved in the 3-year scam from 2013 to 2016? 3. How… Read more »

Google checking accounts

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According to the Washington Post, Google plans to add checking accounts from Citigroup and a credit union to its Google Pay digital wallet in 2020. Questions: What is Google Pay? Who is Google currently working with to push its finance arena? How many banks already offer transactions via Google Pay in the U.S.? Source: Anderson,… Read more »

Hacked and Sold

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According to a ZDNet investigation, hackers commandeered user accounts for Disney Plus’ new streaming service. As a result, hackers locked users out, changed authorization log-ins, and sold the hacked accounts for as little as $3 each. Questions: Does this happen with other streaming services? If so, what are some of the other services mentioned? What… Read more »

The Value of Virtual Reality in Business

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According to BusinessInsider.com, virtual reality (VR) has been historically associated with consumer-facing gaming, but it’s been gaining traction in companies lately. Questions: According to the article, what companies are actively using VR? How are they using it? How has this driven up the revenue from the hardware and software of VR? What other sources can… Read more »