Posts Categorized: International Accounting

Big Woes for the Cavendish Banana

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

While the popularity of the Cavendish banana that you buy at the grocery store is on the rise, there is a disease that is threatening its extinction. Questions: Why might the most popular bananas go extinct? Which country economies depend on the banana? What percentage of bananas exported to supermarkets around the world are of… Read more »

Inconsistent Sustainability Assurances

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According to Accounting Today, a new report posits that sustainability reporting standards, as well as assurance services to verify that reporting, vary widely across jurisdictions and individual practitioners and require better standardization. Questions: Which organizations presented the report? According to the report, what percentage of companies report some level of sustainability information, and what percentage… Read more »

KPMG’s Most Recent Fine

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According to Accounting Today, KPMG faces a 15M pound fine (or $21M), for gross misconduct in the U.K. Questions: What were the name of the company and the private equity firm that relied on misstatements by KPMG? What was the name of the partner at the head of the consulting engagement? How many times did… Read more »

Recovery of Ransom by Feds

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According to the Washington Post, federal authorities have recovered more than two million dollars in cryptocurrency paid in ransom to foreign hackers whose attack last month led to the shutdown of a major pipeline that provides nearly half the East Coast’s fuel, according to officials. Questions: What is the name of the hacker ring? How… Read more »

An Attack on the Wallets of Meatlovers

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Four weeks after the Russian hack on Colonial Pipelines, the world’s largest beef supplier has been hit with a ransomware attack, threatening some of the U.S. meat supply. Questions: Who is the company and how many facilities do they maintain? How much was paid to Russian hackers from Colonial Pipelines? What might be the effect… Read more »

One of the First Major Companies to Mandate

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According to Reuters, Delta Air Lines will require all new hires in the United States to be vaccinated against COVID-19. Questions: Does the requirement affect current employees? What will be the restriction for employees that are not vaccinated? How do you believe that this requirement will affect Delta’s bottom line? Discuss your thought concerning this policy…. Read more »

Debt Disclosure Problems

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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 »

Theaters making a BIG comeback

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According to the Washington Post, Mooky Greidinger, the chief executive of Cineworld, believes that really bright days are ahead of the movie theater industry. Questions What is the theatrical window and how does it impact the U.S. movie theater industry? What is delaying the quick comeback of movie theaters in Europe? How is Cineworld and… Read more »

Redemption for Volkswagen

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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 »

SEC moves toward ESG disclosure enforcement

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According to Accounting Today, the SEC has formed a Climate and ESG Task Force in its enforcement division to identify misconduct in environmental, social and governance reporting. Questions: How are accounting firms putting more emphasis on ESG issues? What initiatives are taking place in the area of standard setting? What has a recent study found… Read more »