Posts Categorized: Intermediate Accounting

Ergonomic Nightmares and Its Not Even Halloween!

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

According to the Washington Post, state labor regulators in Washington state allege that working at Amazon exposes staff to increased risk of ergonomic injury and musculoskeletal disorders as they awkwardly bend and twist to move goods through the warehouse.  Questions: Source: O’Donovan, C. (2023). Regulators struggle to rein in Amazon on safety for warehouse workers…. Read more »

Forced Labor for the Sake of EV?

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

According to the Washington Post, Tesla has been conspicuously silent when it comes to China, despite evidence that materials that go into its vehicles come from the Xinjiang region, where forced labor has been rampant. Questions: Source: Halper, E. (2023). EV makers’ Use of Chinese Suppliers Raises Concerns About Forced Labor. The Washington Post, Sep…. Read more »

Beware Evil-Doers!

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, Fraud Accounting, Income Taxes, Intermediate Accounting, Uncategorized.

IRS Commissioner Daniel Werfel said Monday in a letter to leaders of the Senate Finance Committee that the agency would renew its effort to crack down on predatory (or bad) preparers. Questions: Source: Weil, J. (2023). IRS vows to crack down on predatory preparers, change audit strategy. The Washington Post, Sep. 18 (Retrievable online at… Read more »

Crackdown on COVID frauds

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

In the last week, the U.S. Department of Justice announced that it has cracked down on 3,195 individuals that have fraudulently obtained pandemic relief funds. Questions: Source: Fowle, D. (2023). Justice Department arrests nearly 3,200 for COVID relief-related fraud. Fox News, August 30 (Retrievable online at https://www.fox5atlanta.com/news/justice-dept-arrests-nearly-3200-people-for-covid-related-fraud-murder-for-hire-plot-interrupted)

Would you Take a Chance on Fyre Festival 2?

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, Fraud Accounting, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized, Video Updates.

According to the New York Times, Billy McFarland is out of jail and selling tickets to Fyre Festival 2. Questions: Bernstein, J. (2022). Billy McFarland Is Out of Jail and Ready for His Next Move. The New York Times, September 14 (Retrievable online at https://www.nytimes.com/2022/09/10/fashion/billy-mcfarland-release.html) Zahn, M. and L. Barr. (2023). Fyre Festival 2 tickets… Read more »

Judge Vacates Conviction for Bribery Fraud Regarding Lucrative Rights To View Soccer Tournaments

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, Fraud Accounting, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized.

According to the New York Times, Hernán López, a former Fox employee, and an Argentine sports marketing company had been convicted of participating in a bribery scheme to secure rights to widely viewed soccer tournaments. Now an acquittal. Questions: Meko, H. and K. Bensinger. (2023). Judge Vacates Convictions in Bribery Case Over Soccer Broadcast Deals…. Read more »

Rite Aid – A Rocky Road Ahead

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, Fraud Accounting, Income Taxes, Intermediate Accounting, Managerial Accounting, Uncategorized, Video Updates.

According to CNN, Rite Aid shares slid lower as the pharmacy chain prepared bankruptcy filings this week while dealing with lawsuits over the sale of opioids. Questions: Source: Goodkind, R. (2023) Rite Aid stock is experiencing extreme turbulence: Here’s why. CNN, August 28 (Retrievable online at https://www.cnn.com/2023/08/28/investing/rite-aid-stock-bankruptcy/index.html)

The Highest Paid Medical Doctors are in the Dakotas. Why?

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

According to the Washington Post, there is an interesting phenomenon about the location of the highest paid medical doctors. Questions: Source: Van Dam, A. (2023). The real reason the highest-paid doctors are in the Dakotas. The Washington Post, Aug. 11 (Retrievable online at https://www.washingtonpost.com/business/2023/08/11/doctor-pay-geography/)

It’s Called the “Urban Doom-Loop”

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 Statement Analysis, Fraud Accounting, Income Taxes, Intermediate Accounting, Managerial Accounting, Uncategorized.

With more people working remotely, companies are rethinking their plans to sign leases on business buildings in downtown areas all over the U.S. Questions: Source: Siegel, R. (2023). How the ‘urban doom loop’ could pose the next economic threat. The Washington Post, Aug. 28 (Retrievable online at https://www.washingtonpost.com/business/2023/08/28/commercial-real-estate-economy-urban-doom-loop/)

Great News for Accounting Students and Graduates!

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

According to Accounting Today, less than one percent of firms can find enough accounting staff. Questions: Source: Cohn, M. (2023) Less than 1% of firms can find enough staff. Accounting Today, Aug. 2 (Retrievable online at https://www.accountingtoday.com/news/less-than-1-of-accounting-firms-can-find-enough-staff?)