Posts Categorized: Advanced Accounting

A Back Door or Bribery?

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting.

JP Morgan’s “Sons and Daughters” hiring program is under scrutiny by federal regulators. Confidential documents obtained from the company are being explored to shed light on whether the program indicates wrongdoing by the bank to hire children of China’s ruling elite, in order to secure existing and future business from Chinese-government-run companies. Questions: 1. Based… Read more »

How do Nonprofit Organizations Deal with Fraud?

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, Intermediate Accounting, International Accounting, Managerial Accounting.

Nonprofit organization, all too often take a common approach of foregoing legal action against fraudsters rather than prosecuting them. This article covers a recent fraud and explains why many nonprofits bypass legal action in exchange for cash. Questions: 1. Summarize the case of fraud at the Progressive Policy Institute and include red flags of fraud… Read more »

Just Buy an EZ Pass and save your money next time!

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, Intermediate Accounting, Managerial Accounting.

Watch out for bad information from your “expert” friends! That is what Jason Bourcier wishes that he would have done.   Bad information tip #1: A friend told him that when the toll booths were unmanned after 11:30 p.m., you could use the road without paying on the Dulles Toll Road. Bad information tip # 2:… Read more »

Word to the Wise: Watch the Spelling!

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, Intermediate Accounting, Managerial Accounting.

Ephonia Green has given away 275 wedding gown ensembles to military brides over the last five years from her bridal shop in Maryland. But how has she been able to afford such philanthropy, while working as a $56,000-a-year administrative assistant for a nonprofit organization? Since 2005, when Green started receiving publicity for her charitable gifts… Read more »

Low Pay in the News

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Intermediate Accounting, International Accounting, Managerial Accounting.

Thousands of fast-food workers in the went on strike in cities across the U.S. this summer. Why? They were demanding a living wage of $15 per hour and the right to unionize, but their efforts failed. Several industry groups purport that low- and minimum-wage workers are now growing faster than any other group of earners… Read more »

What Do Rodney Dangerfield and Some U.S. Companies Have in Common?

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Managerial Accounting.

CoreBrand, a consultancy firm investigating brand reputation, recently released a report on 1,000 U.S. Companies. The results are presented in this article. Interestingly the most respected brands are in the same industry and they are Coca-Cola and PepsiCo, Inc. While Coke has enjoyed this status for six years straight, Pepsi moved up from being the… Read more »

Conflict of Interest?

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Video Updates.

The commercials may sound wonderful, but unfortunately, patients are being victimized by medical credit cards. The cards, issued by specialty finance companies and commercial banks, carry huge interest rates after an initial zero interest period expires. There are also heavy penalties for late payments. Questions: 1. What types of services can be paid for with… Read more »

Limiting Public Exposés: China’s Crackdown on Information about Officials and Social Elite

Posted by & filed under Accounting Principles, Advanced Accounting, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized.

There is a chilling crackdown on due diligence companies in China. In an effort to tighten access to company records at local industry and commerce bureaus, the Chinese government arrested Peter Humphreys and his wife, who run a due diligence company that works for many multinational companies in China. Access to these bureau records is… Read more »

Amazon’s profit strategy?

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized.

Almost daily, Amazon announces that it is entering another new venture. How do they do it, since they have yet to show profit that supports their share price? Questions: 1. After reading the article, do you think that Amazon with stay with a discounter form of commerce? 2. How do you think Amazon accounts for… Read more »

Numbers tell the story

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

Unless you have been vacationing on another planet, you have probably heard about the government shutdown this week. This video by the New York Times provides some quantification of the situation. Questions: 1. Which number in the video surprised you the most? 2. Explain why not reaching an agreement by Oct 17 on the debt… Read more »