Posts Categorized: Financial Accounting

Sweet Dreams and Watch Out for those False Medical Claims!

Posted by & filed under Accounting Information Systems, Accounting Principles, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Intermediate Accounting, Managerial Accounting, Video Updates.

If you have been up late watching TV, you might have seen the Infomercial for a Minnesota company that sells My Pillow, a patented open-cell, poly-foam design created by inventor Michael J. Lindell. This staple of late-night TV infomercials has sold about 18 million pillows since 2005. However, a recent lawsuit successfully argued My Pillow… Read more »

Lions Hunting Zebras! Oh MY!

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 New York Times, Wells Fargo would like to close the chapter on the sham account scandal, saying it has changed its policies, replaced its chief executive and refunded $2.6 million to customers. However, lawmakers and regulators say they will not let it go that quickly. Questions: 1. Who were the customers that… Read more »

Not all retirement plans are equal!

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

According to the New York Times, millions of Americans — public school teachers, clergy members, employees of religious institutions or nonprofits, and some charities — are not offered 401(k)’s; instead they typically must rely on what are known as 403(b) plans, many of which are more lightly regulated. Questions: 1. Briefly summarize why public school… Read more »

You mean, pay matters?

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

Remember when sales at Walmart stores open at least a year fell for five straight quarters and the company’s revenue fell for the first time in Walmart’s 45-year run as a public company in 2015? According to the New York Times, this is how they changed the dissatisfaction that customers felt. Questions: 1. What was… Read more »

A Growing Force in Real Estate

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 Washington Post, for the fourth year in a row, buyers from China ranked first among foreign nationals purchasing property in the United States, according to a survey by the National Association of Realtors (NAR). U.S. home sales to Chinese nationals totaled $27.3 billion — exceeding the total dollar sales figure of the… Read more »

Changes Coming!

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

According to the Associated Press, Federal regulators recently announced new rules governing the prepaid debit card industry. It’s a big change more than two years in the making that’s expected to bring some basic account protections to its customers, who are often financially disadvantaged. Questions: 1. How much money was loaded on prepaid cards in… Read more »

Cell Phone Worries

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

According to the Washington Post, Samsung is suspending production of its Galaxy Note 7 replacement phones after more reports of fires in South Korea and the United States. Questions: 1. According to the article, what major U.S. carriers are suspending sales or exchanges of the troubled device? 2. How many fires have been reported so… Read more »

Is this Fair?

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Since 2014, a Michigan law has limited Tesla Motors’ capacity to sell in the state, after the Republican-led legislature implemented a statute that banned the company’s only method of selling its cars to consumers. Questions: 1. What are the four states that Tesla has been shut out of? 2. Where did Tesla win its most… Read more »

Mylan Settles with the Government

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

According to the New York Times, Mylan, the maker of the allergy treatment EpiPen, said Friday that it had reached a $465 million settlement with the Justice Department and other government agencies over questions on whether the company had overcharged Medicaid for the treatment by improperly classifying it as a generic drug. Questions: 1. What… Read more »