Posts Categorized: Cost Accounting

Supply Chain Woes Spill over into Tax and Accounting

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

According to Accounting Today, a new survey by Ernst & Young finds growing worries about transfer pricing among business leaders., as well as global tax changes. Questions: How many professionals were polled by the E&Y survey and what was the makeup of the group? What issues did respondents think are most likely to come under… Read more »

Bitter Sugar in the South Dakota Tax Haven

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, money has flowed from the sugar fields of the Dominican Republic to the burgeoning tax haven of South Dakota. Questions: What company does the article refer to? What have been the allegations against these sugar producers and what do these allegations have to do with the tax haven story? How… Read more »

A New Way to Pay Less Tax (if you are rich).

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, Income Taxes, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized.

According to the New York Times, opportunity zones appear to be providing new ways for the wealthy to cut their tax bills rather than to the direct money to people who live in designated zones.  Questions Often, advertising combines opportunity zones tax breaks with other tax breaks. What are some of these? How many opportunity zones… Read more »

Have stolen money? London may be the place to put it!

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, IFRS, Income Taxes, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized, Video Updates.

According to Nicholas Shaxson, the City of London is hiding the stolen money of the world. Questions: What is the name of the new data leak exposing financial dealings by more than 330 politicians and public officials from over 90 countries and territories? In your own words explain why the offshore financial ecosystem is so… Read more »

Ready to become a vegetarian? Might be a good time!

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, Financial Statement Analysis, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized, Video Updates.

According to Bloomberg, the Covid-19 outbreak has depleted America’s meat reserves, and new data from the U.S. shows they still haven’t recovered. Questions: What are all the forces surrounding COVID that created the perfect storm for this depletion? In other words, explain the factors at play to cause the shortages. What has happened specifically to… Read more »

Hiding in Plain Site

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, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, Income Taxes, Intermediate Accounting, Managerial Accounting, Uncategorized.

According to Accounting Today, the IRS failed to spot $20.6M in bogus nonresident tax refunds in 2018. Questions: How many returns did this account for? In a short paragraph, explain how this happened. In a report by the Treasury Inspector General for Tax Administration (TIGTA), what recommendations were made for the improvement of IRS identification… Read more »

What do you know about ESG reporting?

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.

According to Accounting Today, professionals in accounting and finance are confronting big obstacles when it comes to environmental, social and governance (ESG) reporting. Questions: According to the Financial Executives International’s Financial Education & Research Foundation survey, what percentage of the chief accounting officers and controllers polled had not yet started to integrate ESG reporting with their… Read more »

Lufthansa to Pay Back Bailout

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, Uncategorized, Video Updates.

Deutsche Lufthansa AG plans to raise 2.14 billion euros ($2.5 billion) through a heavily discounted share sale as it strives to repay a German government coronavirus bailout. Questions: How will the airline group raise the money to repay this bailout? What does Lufthansa avoid with full repayment? What are the expectation of the airline for… Read more »

Nabisco Workers End Strike

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

According to the New York Times, a contract dispute between Nabisco and its workers ended on Saturday, after protests and a strike that lasted several weeks. Questions: What is the name of the union that Nabisco workers belong to? Who owns Nabisco? What issues did unionized employees agree to? What changes will employees see in… Read more »

Big Move by a credit reporting giant

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

Credit rating giant TransUnion is buying Neustar, an identity resolution company for $3.1 Billion in cash. Questions: When is the deal expected to close? How much is Neustar expected to generate in 2021? What is the strategic benefit of Neustar for TransUnion? Who owned Neustar going back to the 1990s and today? What part of… Read more »