Hacker surprise sets off brief market frenzy!

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, Financial Reporting and Analysis, Intermediate Accounting, Uncategorized, Video Updates.

According to the Washington Post, a false hacker post at the SEC’s official account on the social media platform X (previously Twitter), set off a brief frenzy among crypto traders before the agency regained control. Questions: Source: Menn, J. (2024). Hackers seize control of SEC’s X account to promote crypto. The Washington Post, Jan. 10… Read more »

This Year’s Large-Scale Layoffs and Their Companies

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

According to the Washington Post, some of the deepest cuts have occurred in the tech and media sectors such as Microsoft, Amazon, Salesforce, HP, and the parent companies of Google and Facebook. Questions: Source: Mark, J., H. Shaban, A. Gregg, and J. Bogage. (2023). These are some of the notable companies laying off workers. The… Read more »

E.L.F. Makeup – Profile Rising Due to Social Influencers

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According to the Washington Post, companies such as E.L.F., Essence and NYX have flourished as beauty influencers — particularly on TikTok and YouTube — raised their profiles, and as entrenched inflation made many consumers reassess their spending. Questions: Source: Peiser, J. (2023). Viral ‘dupes’ make E.L.F. the makeup brand of the moment. The Washington Post,… Read more »

No more U.S. Steel

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According to the Washington Post, Japan’s largest steelmaker, Nippon Steel, will purchase U.S. Steel in a, a deal valued at $14.1 billion. Questions: Source: Tan, E. (2023). U.S. Steel will be acquired by Japan’s Nippon in a $14.1 billion deal. The Washington Post, December 18 (Retrievable online at https://www.washingtonpost.com/business/2023/12/18/us-steel-nippon-acquistion)

No Deal

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According to Reuters, U.S. health insurer, Cigna (CI.N) has ended its attempt to negotiate an acquisition of rival Humana (HUM.N) after the pair failed to agree on price. Questions: 2. Cigna is still exploring the sale of its Medicare Advantage business. What does this segment focus on? 3. Cigna is planning to do a total of how much total… Read more »

Big Buyout?

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According to CNBC, Arkhouse Management and Brigade Capital Management have offered to buy Macy’s Inc. for $5.8 billion, according to people familiar with the matter. Questions: Source: Picciotto, R. (2023). Macy’s receives $5.8 billion buyout offer, sources say. CNBC.com, 12/10/23 (Retrievable online at https://www.msn.com/en-us/money/companies/macy-s-receives-5-8-billion-buyout-offer-sources-say/ar-AA1liroj?)

Did “Skimpflation” invade your Thanksgiving dinner?

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Does you favorite food seem to be in smaller proportions than usual? If so, you might want to see if you are being faced with “skimpflation”? Questions Source: George, M. (2023). “Skimpflation” may be slipping by grocery shoppers. Here’s how to spot it. Nov. 27 (Retrievable online at https://www.msn.com/en-us/foodanddrink/foodnews/skimpflation-may-be-slipping-by-grocery-shoppers-heres-how-to-spot-it/ar-AA1kBhsJ).

WeWork – Not a Surprising Demise To Some Analysts!

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According to CNN.com, WeWork, the beleaguered coworking space company, has filed for bankruptcy, marking a stunning downfall for what was once the world’s most valuable startup. Questions: 1. Around its peak, what was the company’s stock valued at? 2. WeWork plans to stay open and operational as it does what? 3. According to the article,… Read more »

Exploited Legal Loopholes – Oh My!

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What a con! Free windshield replacements in Florida parking lots! And it is costing insurance companies millions of dollars, which then trickle down as higher rates for the consumer. Questions: Source: Tan, E. (2023). How Florida’s ‘unscrupulous’ auto glass shops fuel an insurance crisis. The Washington Post, Nov. 12 (Retrievable online at https://www.washingtonpost.com/business/2023/11/12/auto-glass-florida-insurance)

Accounting for Intangibles

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In a recent meeting, the Federal Trade Commission (FTC) challenged more than 100 patents held by manufacturers of brand-name asthma inhalers, epinephrine autoinjectors, and other drug products as improperly or inaccurately listed in the Food and Drug Administration’s (FDA) publication of “Approved Drug Products with Therapeutic Equivalence Evaluations,” commonly known as the “Orange Book.” Questions:… Read more »