Posts Categorized: Income Taxes

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 »

Transparency Improved or Impeded?

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.

A little-noticed accounting change is coming down the pike that will have a major impact on business. According to the New York Times, this one has corporate executives up in arms — and scrambling to comply. Questions: 1. What is the title of the new FASB rule? 2. Which equity investments are affected? 3. How… Read more »

Puerto Rico is Bankrupt!

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

Puerto Rico has been facing huge debts and population loss for some time. However, in a historic move that will likely trigger a fierce legal battle, the island territory declared bankruptcy. Questions: 1. According to the article, what were the main debts it listed in its filing? 2. How many jobs and what amount of… Read more »

Promises Kept? Buy American, Hire Americans?

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

According to Lydia O’Neal with the International Business Times, President Donald Trump recently signed an executive order urging the U.S. to “buy American,” in part by encouraging the Departments of Commerce and State to prioritize American firms when they dole out lucrative contracts. Unfortunately, a report released last week found, that the direction may not… Read more »

Private Debt Collectors used by the IRS. What could go wrong?

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

According to Slate, last year, Congress authorized the Internal Revenue Service to use private debt collectors to go after unpaid tax liabilities—and this month, if you are one of the unfortunate, you may have already had the pleasure first-hand. Questions: 1. What is the pleasure that this article is referring to? 2. Has this been… Read more »

Where equal work does not equate to equal pay?

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, Video Updates.

According to the Associated Press and USA Today, government investigators looking into how Google pays its employees have accused the tech giant of shortchanging women doing similar work to men. Questions: 1. What are some of the claims? 2. Which branch of government filed the lawsuit? 3. Google has said it has turned over some… Read more »

Tuition Free College?

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

According to CNN, New York just became the first state in the nation to make tuition free for middle class students at both two- and four-year public colleges. Questions: 1. When does this program start? 2. What are the income caps in order to obtain free tuition? 3. What are the restrictions after graduation? 4…. Read more »

Pink Tax?

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

The Pink Tax, so named because of the color of products directly marketed to girls and women, refers to the price difference for female-specific products compared with the gender-neutral goods or those marketed to men. Questions: 1. On average, how much more do women and girl’s products cost as compared to similar products for men… Read more »

YouTube in Hot Water!

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.

According to the New York Times, there is an expanding advertising boycott of YouTube. This is due to big-spending companies’ doubt about Google’s ability to prevent marketing campaigns from appearing alongside repugnant videos. Questions: 1. Who are some of these companies and what type of content are they finding offensive? 2. Approximately how many hours… Read more »

Detainees for Profit

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, International Accounting, Managerial Accounting, Uncategorized.

Libre, a for-profit company whose name means “free” in Spanish, is charging immigrants who sign contracts $420 per month for their freedom while wearing the company’s GPS devices. The company is now subject to a number of lawsuits and allegations of fraud by immigrants. Questions: 1. Do you think a company should be allowed to… Read more »