Posts Categorized: Cost Accounting

Are they the Bitcoin Bonnie and Clyde?

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, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized, Video Updates.

According to the New York Times, Ilya Lichtenstein and Heather Morgan were charged with conspiracy to launder billions of dollars worth of Bitcoin.Credit. Questions: What was the Bitfinex hacking? What was the role of the complex shuffling of Bitcoin by the couple in the fraud in January 2017?   When the government executed a search… Read more »

Walmart’s Top E-commerce Omni Strategy Executive is Leaving

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

Questions: When did Mr. Casey join Walmart? What company did he work at prior to coming to Walmart? By how much did Walmart’s global e-commerce sales increase during the nine months ended Oct. 31 as compared with the same period the prior year? What is Omni? Why do you think there is a post-holiday executive… Read more »

Fraud at Amazon Warehouse

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

According to The Verge, an Amazon warehouse manager faces long prison sentence and fine when pleading guilty to stealing $273,000 worth of computer parts and selling them to a wholesaler. Questions: What was the position of the manager? Why is it more likely that a person in his position rather than basic warehouse staff would… Read more »

High Rents

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, rising rents are expected to be a driving force in inflation this year and have been an ongoing policy challenge for the Biden administration. Questions: By what percentage have rents increased in a number of cities? What is the average rent in cities like Austin, New York and Miami? What… Read more »

Kraft Heinz Fraud

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, Intermediate Accounting, Managerial Accounting, Uncategorized, Video Updates.

Today’s column offers a review of a clawback fraud; CFO.com explains that Kraft-Heinz (KHC) reported supplier contracts that made it appear as if expense savings were provided in exchange for past or same-year events performed by the company when, in reality, they were upfront payments in exchange for a future benefit from KHC. This was… Read more »

Rise to Fame

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

According to MarketWatch, Wordle, the viral word-game sensation is going corporate after it was scooped up by New York Times Co., for an amount “in the low seven figures.” Questions: Who developed Wordle? What is the basic idea or rule behind Wordle? How fast has the popularity of Wordle grown over the last few months? What… Read more »

Walmart’s new venture into financial technology

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

Walmart Inc.’s financial-technology venture agreed to buy two small companies and rebrand itself in a step toward providing an app that enables customers to save, borrow and receive money. Questions: What are the two small companies the Fin-Tech venture agreed to buy? What is Walmart’s venture called? Why is this move going to shake up… Read more »

Just Like The Wild West: Massive Supply Chain Thefts

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.

Waiting for your order in the mail? Your goods may be stolen from rail cargo thefts; in other words, goods at rest are goods at risk. Questions: Why is theft so rampant in Los Angeles for rail cargo like that of Union Pacific? According to the Guardian, what percentage increase in crimial rail theft has… Read more »

Location-based Salaries and Pay Equity

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 Babak Varjavandi, companies embracing location-based compensation send an unspoken message that people who live in more affluent areas are worth more to the company. Questions: What are the positive effects of avoiding location-based pay cuts? How does Babak recommend that companies set up fair compensation plans in a remote work environments? What is… Read more »

Diversity Disclosures

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, Intermediate Accounting, Managerial Accounting, Uncategorized.

On this MLK day, we take a look at diversity disclosures and the S&P as detailed by Richard Binder at BenefitsPro.com. Questions: According to McKinsey & Company, how long will it take for Black workers to reach talent parity across all levels in the private sector? However, if promotion, attrition, and external hiring rates were… Read more »