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 »

Gard area of France is Facing a Big Decision

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

According to the New York Times, the picturesque Gard area of France, famous for Rhone wines, desperately needs more employment, but environmentalists are pushing back at the possibility of Amazon’s looming “blight.” Questions: According to the article, what is the extent of the “blight” that Amazon’s new warehouse would cause in the area? What is… Read more »

Brave New World: What Will We Lose?

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

According to this article, there are 9 everyday experiences that we may not see again. Questions: What are these 9 experiences? Are any of these experiences economically essential? Explain. Which experience do you least agree with as being extinct? Why? Which experience would you add to this list? Source: Pincus-Roth, Z. (2020). 9 everyday experiences… Read more »

Cyber Security Breaches increase 300 percent for CPAs during Pandemic

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

With many accounting practices rushing to provide access for remote employees and clients (without fully understanding security implementations), cyberattacks on CPA practices of all sizes has increased 300 percent during the COVID pandemic. Questions: What do the cybercrimals do as part of a ransomware attack? Why are firewalls and antivirus software no longer enough to… Read more »

Kellogg’s Big Investment

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

Since Northwestern University’s Kellogg School of Management’s already sends a huge number of its MBAs into technology fields, it is investing even more in tech as a future home for its graduates.   Questions: What percentage of Northwestern Kellogg’s MBA Class of 2019 went into jobs in the tech industry? What is Northwestern’s current popular program even… 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 »

Golden Arches wants their Money Back

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

According to the Washington Post, McDonald’s,the fast-food giant claims Steve Easterbrook, whose severance package is said to be worth $42 million, destroyed a paper trail of his “inappropriate personal behavior.” Questions: What did Mr. Easterbrook cover up? Why did the company reopen the firing case back up in July? How did the company find out… Read more »

SEC Looks at Unusual Transactions

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, Uncategorized.

The Securities and Exchange Commission launched a probe of circumstances surrounding Eastman Kodak (KODK) and a $765 million government loan it received last week to make pharmaceutical ingredients at its U.S. facilities. Questions: What happened to Kodak stock between the announcement of its government loan to make pharmaceutical ingredients and the announcement of the SEC probe? Which… Read more »