Has your credit information been stolen?

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

As you probably already have heard, Equifax, one of three major credit reporting agencies, revealed that highly sensitive personal and financial information for around 143 million U.S. consumers was compromised in a cybersecurity breach that began in late spring. Later we learned of a second breach, that included about 100,000 Canadians and up to half… Read more »

Hurricane Harvey cruises

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

As Hurricane Harvey begans to bear down on Texas, thousands of vacationers aboard cruise ships were left stuck at sea until the storm passed. Questions: 1. Approximately how many vacationers were stuck at sea near Galveston, Texas? 2. If guests wished to terminate their cruise, where were they taken to dock? 3. If you were… Read more »

Is this fraud?

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 Bloomberg, “CVS Health Corp. and Walgreens Boots Alliance Inc. were sued by California customers who accused the drugstore operators of charging co-payments for certain prescription drugs that exceed the cost of medicines.” Questions: 1. What do Schultz’s and Grabstulz’s lawsuits claim in specific terms? 2. Cases have also been filed against which health… Read more »

How Low Can You Go?

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, Video Updates.

Barbara Barkley lost her house and her savings to a group of California scam artists who stole $11 million from thousands of struggling homeowners looking for help with their mortgages. Questions: 1. Who was the ringleader of the scam and what sentence does he face? 2. How did the scam work? 3. Why wasn’t there… Read more »

But wait…..there’s more………

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, Video Updates.

Already struggling to rebuild its reputation after disclosing the creation of fraudulent bank accounts, the New York Times indicates that Wells Fargo may soon release information about even more fraudulent account creation. Questions: 1. Based on the new investigation, how many accounts were found and over what period? 2. What is the new regulatory issue… Read more »

ER Bill Surprise!

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New data suggests that EmCare, now one of the nation’s largest physician-staffing companies for emergency rooms, is showing a disturbing pattern. In the case of a small Spokane, Washington hospital, the number of patients coded as having billing for the most complex, expensive level of care quadrupled after the hospital contracted for services through EmCare…. Read more »

Another Sad Wells Fargo Story

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, more than 800,000 people who took out car loans from Wells Fargo were charged for auto insurance they did not need, and some of them are still paying for it, according to an internal report prepared for the bank’s executives. Questions: 1. How many customers were forced into delinquency… Read more »

A new manipulation of stock

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Kamilla Bjorlin, actress appearing in movies with Al Pacino and Anthony Hopkins, as well as countless lesser roles, is now looking at possibly her biggest role in defending herself against SEC charges against a modern “pump-and-dump” scheme. Questions: 1. According to the SEC complaint, what was Bjorlin’s firm’s role in driving up the stock of… Read more »

A New Way to Raise Money

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Interestingly, some entrepreneurs are following a new path, which avoids venture capital pitches or crowd funding. In this quest, before they even have a working product, they are creating their own digital currencies and selling so-called coins on the web, which sometimes raises them tens of millions of dollars in a matter of minutes. Questions:… Read more »

What would you do?

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

Tens of thousands of computer users around the world made the decision, to refuse to pay the anonymous hackers behind the ransomware attack known as WannaCry. The attackers had demanded that individuals pay up to $600 by Friday to regain control of their machines or face losing their data. Questions: 1. At the writing of… Read more »