Posts Categorized: All Articles

Is the use of videoconferencing one to improve recidivism or profits?

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

Jails are replacing face-to-face visits with video conferencing screens and are passing the costs on to inmates and their families. In some cases, these costs are up to $1 per minute. Questions: 1. Where do most videoconferencing companies make their money? 2. Who are the industry giants in prison videoconferencing? 3. Explain the last statement… Read more »

Let the Punishment Fit the Crime

Posted by & filed under Accounting Information Systems, Accounting Principles, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Statement Analysis, Fraud Accounting, Intermediate Accounting, Managerial Accounting.

The Mikado explains his ambition of letting the punishment fit the crime in Gilbert and Sullivan’s classic work. The Mikado’s song could be the new theme song of the Securities and Exchange Commission, if dissenting commissioners prevail. The debate over a “one size fits all” penalty for misconduct is at the heart of what defines… Read more »

Fraud at Florida-based adult entertainment businesses

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

Paul Anthony Ruggieri, accountant, pleaded guilty Friday to assisting in the tax fraud scheme of Anthony Andreozzi, the owner of two Florida-based adult entertainment businesses. Questions: 1. Based on the information in the article, how long had Mr. Ruggieri been Andreozzi’s accountant? Go to the Certified Fraud Examiner’s website and compare this amount of time… Read more »

Profits or Ethics? Is it one or the other?

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

In November 2014, allegations of altered reports prompted a federal judge overseeing more than 1,000 hurricane related lawsuits in the New York City area to order and investigate all drafts of the engineering reports regarding 2012 Hurricane Sandy property damage. Based on these reports, the judge believed that engineering revisions were “widespread” in order to… Read more »

Are you getting what is advertised?

Posted by & filed under Accounting Principles, All Articles, Auditing, Cost Accounting, Financial Accounting, Fraud Accounting, Intermediate Accounting, Managerial Accounting, Video Updates.

Four major retailers were accused by the New York State attorney general’s office of selling fraudulent and potentially dangerous herbal supplements. The attorney general demanded that they remove the products from their shelves. Questions: 1. Who were the four national retailers? 2. What were the results of tests performed on the supplements? 3. In summary,… Read more »

Credit Unions for Pot?

Posted by & filed under Accounting Principles, All Articles, Auditing, Cost Accounting, Financial Accounting, Intermediate Accounting, Managerial Accounting.

Since medical marijuana was legalized in Colorado in 2001 and recreational marijuana was legalized a year ago, sellers have had limited, if any, access to banking services. As a result, a group of other entrepreneurs in Colorado want to start the first-ever financial institution established specifically to serve the pot industry. Questions: 1. What are… Read more »

Why Can’t I Get A Break on Airline Tickets, with Gas Down to Record Lows?

Posted by & filed under Accounting Principles, All Articles, Cost Accounting, Financial Accounting, International Accounting, Managerial Accounting, Video Updates.

Even with oil prices down, it seems like airline tickets are either increasing in price or staying level. In fact in October 2014, there were four separate attempts by U.S. airlines to hike airfares with mixed success. But why? Questions: 1. To what conditions does Seany attribute the high airline ticket prices? 2. Do you… Read more »

Pop Goes the Bubble!

Posted by & filed under Accounting Principles, All Articles, Auditing, Financial Accounting, Intermediate Accounting, International Accounting, Managerial Accounting.

According to the New York Times, the drop in oil prices are dimminishing one of the few big bright spots that banks have enjoyed since the financial crisis. The reason is that banks have been experiencing a lending boom to companies in the nation’s energy industry. Questions: 1. Which banking group has the greatest investment… Read more »

No More SkyMall?

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

The parent company for SkyMall filed for bankruptcy protection on January 23, 2015. SkyMall was the entertaining catalogue of everything you never thought about buying, but was in the seat pockets of every plane. As Farhi said, “the value added to this grotesque shlock was SkyMall’s enthusiastic descriptive copy. SkyMall’s writers never let on that… Read more »

Marriott to pay $600,000 to Resolve WI-FI-Blocking Investigation

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

In March 2013, the Federal Communications Commission (FCC) received a complaint that the Marriott convention center at the Gaylord Opryland location in Nashville, Tennessee was in violation of Section 333 of the Communications Act. After an FCC investigation substantiated unlawful use of containment features, Marriott agreed to pay $600,000. Questions: 1. What did the FCC’s… Read more »