Posts Categorized: IFRS

The Chip Supply Chain: Addressing the Shortage

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

No, it’s not Chips A’Hoy! According to Reuters, U.S. President Joe Biden met with executives from major companies on Monday to discuss the global chip shortage that has severely hurt U.S. automakers and spurred Intel Corp to announce it plans to make chips for car plants at its factories in the next six to nine… Read more »

Debt Disclosure Problems

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

According to the New York Times, Greensill Capital promised a win-win for buyers and sellers, until it all fell apart, igniting concerns about opaque accounting practices. Questions: How much was Greensill valued at less than 2 years ago? Explain how Greensill’s problems extend to the U.S. Explain Mr. Greensill’s position in the firm as the… Read more »

Redemption for Volkswagen

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

According to the New York Times, executives at Volkswagen made a commitment to electric vehicles that now is paying off after the diesel scandal five years ago. Questions: According to the article, what is the ID.4 and when will it be available to customers? Why did the article say that Volkswagen’s entrance into the electric… Read more »

Ransomware Update

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

According to Techrepublic.com, cybercriminals have attacked hospitals and other healthcare organizations with double-extortion ransomware attacks during the COVID pandemic. Questions: What is a double-extortion ransomware attack and how many different ransomware variants are now using the double-extortion plot? Why are cybercriminals focusing on hospitals and other healthcare organizations with these even bolder types of attacks?… Read more »

Not Good News?

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

According to the New York Times, unfortunately, European governments have extended national programs to keep troubled businesses afloat, but the aid may only be postponing the inevitable demise and ultimately making things worse in the future. Questions: According to the article, this recession in France and other European countries is the worst since when? If… Read more »

Total – French Oil Giant Quits American Petroleum Institute (API)

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, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized.

According to the Washington Post, Total is the first major petroleum company to leave the influential trade group, the American Petroleum Institute (API). Question: Why did Total leave the influential API trade group?’ What other oil companies have left trade groups? Name the trade groups and companies. How much has Total invested in the U.S…. Read more »

China’s New Tough Stance on Tech

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

According to the New York Times, despite the fact that Jack Ma and other entrepreneurs have prospered under Beijing’s laissez-faire attitude toward the business side of the internet, new investigations by China’s authoritarian government indicate that the dynamic is shifting as the companies have grown in power. Questions: What is the investigation into Alibaba about?… Read more »

What Type of Accounting Firm Would You Like to Start?

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

Kyle Walters asks the question: ” As an accountant, would you rather be a dentist or a surgeon?” Questions: What does Walters’ question have to do with establishing an accounting firm? Which structure of an accounting firm best fits your goals and work habits? What is scope creep? What are the three components to consider… Read more »

PwC faces $40 M lawsuit from Botswana supermarket

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 Accounting Today, two senior executives at Botswana supermarket chain, Choppies Enterprises Ltd., are suing former auditors PwC for 653 million rand ($40 million) for not signing off on the company’s 2018 accounts, leading to a share price collapse. Questions: What are the actual allegations? How much did Choppies shares lose between September 2018… Read more »

Sometimes Things Don’t End Up the Way they are Planned

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, IFRS, Income Taxes, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized, Video Updates.

According to the New York Times, Delta Airline’s foray into oil refining in 2012 illustrates some of the reasons that the business was in trouble even before the pandemic. Questions: What was the bold experiment that Delta Air tried? What were the flaws in Delta’s strategy? What is the most immediate concern of the refinery… Read more »