Posts Categorized: Income Taxes

No Severance Package – Board decision

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, Uncategorized, Video Updates.

CBS’s board of directors on Monday said they will not give former CEO Les Moonves any of the $150 million severance package he was due under to his employment contract, a decision that follows a months-long sexual misconduct probe. Questions: 1. What was Les Moonves role at CBS? 2. What were the grounds for his… Read more »

Sentinel Capital Partners New Acquisition

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

Sentinel Capital Partners’ new acquisition is Pet Supplies Plus (PSP), as of December 2018. Questions: 1. What are the benefits for PSP of being acquired? 2. How old are the franchise and company-operated stores and where was the company established? 3. How widespread is the chain, geographically? 4. What are the benefits of the acquisition… Read more »

Millennials: New Results from the Federal Reserve

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Millennials have preferences for consumption that differ significantly from those of earlier generations because: (a) they are anti-materialists and want less stuff. (b) they are less well-off than members of earlier generations were when they were young. (c) they have lower earnings, fewer assets, and less wealth. (d) answer choices (b) and (c) are correct…. Read more »

More Greed and Graft

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According to the Washington Post, what started as an antitrust lawsuit brought by states over just two drugs in 2016 has exploded into an investigation of alleged price-fixing involving at least 16 companies and 300 drugs. Questions: 1. What was the “shorthand” between executives used for? Give an example. 2. According to the article, who… Read more »

What’s a San Francisco restaurant without labor? Closed…..

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According to the Guardian, even hiking the minimum wage to $15 an hour and requiring health benefits, as San Francisco has done, hasn’t been enough to maintain a healthy heartbeat in the restaurant industry labor market, because the median price for a San Francisco rental is $4,550. Questions: 1. In the article, Gwyneth Borden, executive… Read more »

Biggest Ever!

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Cyber Monday proves to be the biggest shopping day ever! Because of this, according to Bloomberg, Cyber Monday may provide a big revenue boom for state and local governments. Questions: 1. What is the reason for the big revenue boom for state and local governments? 2. According to Kroll Bond Rating Agency, how much revenue… Read more »

Unbelievable Differences in Incentives!

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According to the Washington Post, the bundle of financial incentives Wisconsin offered to lure Taiwanese technology giant Foxconn’s first major U.S. plant is larger than what New York, Virginia and Tennessee collectively pledged to Amazon.com, a comparison of the two development projects shows. Questions: 1. Foxconn has said its $10-billion factory in southeastern Wisconsin will… Read more »

Bad News for Nissan

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According to the New York Times, the Nissan chairman, Carlos Ghosn, was arrested on Monday after an internal company investigation found that he had underreported his compensation to the Japanese financial authorities for several years. 1. After Mr. Ghosn was sent to Nissan’s Japan headquarters, what was he credited with as a result of making… Read more »

The End is Near

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The fall of Sears has been well documented. But who else is feeling the grip of Amazon on their once thriving retail business and who will be next to declare bankruptcy? Questions: 1. According to the article, what is the toxic combination that will take the eight named retail companies out of the game? 2…. Read more »

Verizon breaking up wireless unit in reorganization

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Verizon Communications Inc.’s new chief executive is restructuring the carrier’s business lines, including its massive wireless business, in one of the first major organizational changes under his leadership. Questions: 1. Who are and will be the new leaders of the reorganized company? 2. When will the changes take place? 3. What is the divider in… Read more »