Posts Categorized: Uncategorized

Wheels Up and its New Deal

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, Intermediate Accounting, Managerial Accounting, Uncategorized.

According to CNBC, private jet company Wheels Up is merging with a special purpose acquisition company to go public at more than $2 billion, which is more than twice its 2019 value. Questions Which company has an equity stake in Wheels Up? How many people flew with Wheels Up last year? Where has Wheels Up… Read more »

An Update to Walmart’s Pledge to Fight Systemic Racism

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.

In the wake of the George Floyd protests, Walmart pledged to contribute $100 million over 5 years to fight systemic racism. Today, the company reported on its progress. Questions: How much will Walmart and its foundation distribute to 16 nonprofit organizations in its current contribution? Who did Walmart ask to lead the company’s Center for… Read more »

Investigation into the Appearance of Wrongdoing

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 Reporting and Analysis, Financial Statement Analysis, Income Taxes, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized.

A finding that Leon Black, the billionaire boss of Apollo Global Management, paid the convicted sex offender $150 million. This touched off an attempt to remove him. Questions: What is Apollo Global Management? Who tried to unseat Leon Black as CEO? What act of contrition does Black plan for his role in giving money to… Read more »

Not Good News?

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

According to the New York Times, unfortunately, European governments have extended national programs to keep troubled businesses afloat, but the aid may only be postponing the inevitable demise and ultimately making things worse in the future. Questions: According to the article, this recession in France and other European countries is the worst since when? If… Read more »

Not a Greek Salad

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 Reporting and Analysis, Intermediate Accounting, Managerial Accounting, Uncategorized, Video Updates.

According to the New York Times, Taboola, a company with catchy clickbait links, previously planned to merge with its chief rival. Now it plans to go public on its own. Questions: When do companies advertising through Taboola pay? What is the Taboola platform described as? What are the concerns that Taboola has in common with… Read more »

Tax Policy: Not boring anymore

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According to the New York Times, tax policy used to be fairly boring and predictable. But in the past decade, it has become dynamic in a way that tax advisers don’t like: It changes with the political party in power. Questions: According to the article, changes for tax advisers with the political party in power… Read more »

Total – French Oil Giant Quits American Petroleum Institute (API)

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

According to the Washington Post, Total is the first major petroleum company to leave the influential trade group, the American Petroleum Institute (API). Question: Why did Total leave the influential API trade group?’ What other oil companies have left trade groups? Name the trade groups and companies. How much has Total invested in the U.S…. Read more »

Dollar General Pays Employees to Get COVID vaccination

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.

According to the Washington Post, Dollar General workers who get the COVID vaccine will be rewarded with four hours of pay. This makes the company one of the first major retailers to incentivize inoculations for its workforce. Questions: What is the base rate for Dollar General workers? What barrier does the company hope to break down… Read more »

New IRS tax law focuses on top paid coaches

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, highly paid college sports coaches (and some hospital executives) are are targets of a 21 percent excise tax by the IRS if these nonprofit employees receive $1 million or more in salary. Questions: What is the big loophole in the law? Who pays the tax? Employee or nonprofit organization? What is… Read more »

New SEC disgorgement provisions

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According to the Insights Commentary, the U.S. Congress recently passed the National Defense Authorization Act (“NDAA”) for Fiscal Year 2021, which includes important changes to the Securities and Exchange Commission’s (“SEC”) ability to seek disgorgement. Although President Trump vetoed the bill, the House of Representatives and Senate voted to override the veto on December 28,… Read more »