Posts Categorized: Auditing

CEO with the “Crass”mas Spirit

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Ethical Dilemma, Financial Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized, Video Updates.

Last Wednesday, the CEO of Better.com, Vishal Garg, fired 900 employees during a 3-minute holiday Zoom presentation. Questions: Where did CEO Garg “bad-mouth” the laid off employees, accusing them of stealing time from the company? What percent of Better.com’s workforce is this? What industry is Better.com in? Explain all the factors that are wrong with… Read more »

Disposable Plates, Cup Holders, and Fast Food Containers

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Ethical Dilemma, Financial Accounting, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized, Video Updates.

A company. Lifepack, in Colombia is making eco-friendly plates out of the tops of old pineapple tops. Questions: How old is the company? The company also makes cups that contain seeds. What types of plants can be grown with these products? About how many eco-friendly plates does the company turn out a day? What are… Read more »

Another Ponzi Scheme

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Income Taxes, Intermediate Accounting, Managerial Accounting, Uncategorized.

A recent Department of Justice (DoJ) press release indicates that John Piccarreto, Jr., 38, of Rochester, NY, was convicted of conspiracy to commit mail fraud and filing a false tax return in connection with a Ponzi scheme. Questions: What was Mr. Piccarreto’s sentence and the amount of restitution required? How many investors were defrauded? What… Read more »

The Giving Season is Always Open Season for Fraudsters

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Uncategorized.

According to New Jersey Advance Media, a Burlington County, N.J. man, Mark D’Amico, 42, and his then-girlfriend admitted setting up a GoFundMe page, based on a lie about a helpful homeless man, and ultimately bilked online givers out of $400,000. Questions: What did D’Amico and his girlfriend use the money for? The page said that… Read more »

Be Sure to Leave Santa a lot of Milk (and Cookies) and Dairy Farmers will Thank you!

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

According to the Business Insider, for years, the US government has supported the dairy industry to encourage production, but the rising costs and falling returns have forced some farmers to ditch cows altogether. Questions: What happened to milk prices during the Great Depression? What did the government do to make sure keep milk prices high… Read more »

Twitter CEO steps down

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Ethical Dilemma, Financial Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized.

According to the Washington Post, Twitter CEO Jack Dorsey announced his resignation from the social media giant. Questions: How did the CEO of Twitter, Jack Dorsey, announce his departure and was it expected? Who did Mr. Dorsey put in charge? When Mr. Dorsey announced this, what happened with the stock market and the employees at Twitter?… Read more »

You’d better have the Big Bucks to Move to Austin!

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Ethical Dilemma, Financial Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized.

According to the New York Times, Austin, Texas has now surpassed It has the hot housing markets in Boston, Miami and New York City. But, how did Austin become one of the least affordable cities in America? Questions: What was the average number of new residents moving to the Austin every day in 2020? What… Read more »

These Shoes are Pieces of Garbage!

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

According to the IndiaTimes.com, this is a sustainability concept on steroids! Questions: What is the concept behind this already profitable startup? How old is its founder and where is the startup located? Would you buy this product? If you were the accountant advising this company, what would be your main concerns? What is the company… Read more »

Have you considered Inflation Bonds?

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

According to the New York Times, rising prices have affected both consumer goods and some government savings bonds. However, they could also benefit investors looking for safe spaces for their money. Questions: What type of return will the new series I savings bonds, known as inflation bonds to be issued in the next six months,… Read more »

Interesting New Startup!

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

According to the New York Times, a new startup has come up with a new idea to reforest the planet where wildfires have taken their toll. Questions: What is this innovative idea and what type of technology is used? Where is the startup located? If you were an accountant advising this startup, what would be… Read more »