Here’s the money. Do you want it?

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

According to this article, Ireland doesn’t want Apple’s billions. Instead, the Irish government is appealing Europe’s tax ruling, a move that is exposing a rift in a country still feeling the aftershocks from years of harsh cutbacks. Questions: 1. What is your opinion of the politically motivated defense? 2. Would you consider Ireland to be… Read more »

You Got Caught! Unauthorized!

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

According to The Guardian, Wells Fargo will pay $185m in a settlement over illegal sales practices that included the opening of unauthorized duplicate accounts and credit cards by employees in order to meet sales quotas. Questions: 1. What does the settlement include? 2. Over what period did this take place? 3. Which agency took action… Read more »

Ramen Noodles are the new Prison Currency!

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At some state prisons, budget cuts have led to a reduction in the caliber and total number of meals that prisoners receive, which means that the practical value of ramen noodles have skyrocketed in their value as contra ban. Questions: 1. According to the article, why don’t prisoners stock up on Ramen, since it commands… Read more »

Apple and Taxing Issues!

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This week, the European Union (E.U.) ordered Ireland to collect $14.5 billion in unpaid taxes from Apple. According to Margrethe Vestager, the European Union’s commissioner for competition, Apple’s illegal deals with the Irish government allowed the company to funnel profit from two Irish subsidiaries to a “head office” with “no employees, no premises, no real… Read more »

Scamming taxpayers with an Act that prevents actions against misconduct?

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According to Business Insider, the Commerce Department’s Inspector General concluded that thousands of employees in the federal Patent and Trademark Office scammed taxpayers out of at least $18.3 million, probably a lot more, by falsely claiming nearly 289,000 hours of work they never put in. Questions: 1. What Act restricts federal officials from comparing multiple… Read more »

End of an Era

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

A slice of Americana is about to “leave the stage.” For those of you who are too young to remember, Howard Johnson is not an old movie star. It was a bustling restaurant chain across the U.S. Sadly, the last of two remaining Howard Johnson restaurants will close on Sep. 6, making it the end… Read more »

Orphan Drug Act

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Three decades ago, Congress listened to the plight of Americans sick with diseases so rare many people had never heard of them. They were victims of a pharmaceutical market failure — “orphans” ignored by drug companies because, the thinking went, tiny groups of patients would lead to trifling sales. Questions: 1. What is the Orphan… Read more »

Extortion or Business as Usual?

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Aetna announced this week that it pull a majority of its participation in the insurance exchanges set up under the Affordable Care Act. Critics see this as payback to the Obama administration for blocking its proposed merger with Humana. This comes after Aetna CEO, Mark Bertoilini is on record as saying that selling insurance in… Read more »

Not a good defense when your conversations are being recorded!

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A Manhattan federal jury rejected claims by a former high-flying Wall Street executive that he was in the dark about his dad’s illegal trading of several health care mergers the banker son was privy to. Questions: 1. What is the maximum sentence that Sean Stewart faces? What is the likely sentence? 2. What amount of… Read more »

Be Afraid, be very afraid!

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Unilever is paying $1 billion for Dollar Shave Club, a five-year-old start-up that sells razors and other personal products for men. Questions: 1. Why does the author of this article say that all companies should be very afraid of this deal? 2. After Michael Dubin’s YouTube ad premiered, what happened in terms of orders and… Read more »