Plan Ahead

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

According to the Washington Post, five of the country’s largest banks, including JPMorgan Chase and Bank of America, still do not have credible plans for winding down their operations without taxpayer help if they start to fail. Questions: 1.How long do these banks have to submit their detailed bankruptcy plans to requlators? 2. What are… Read more »

Want to Buy a State? OMG!

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

When Colin Fultz, the grandson of a bootlegger, opened a gourmet distillery in Kentucky last fall, he ran afoul of University of Kentucky basketball. He trademarked his moonshine with the name Kentucky Mist Moonshine and that is when the trouble began. Questions: 1. Do you think anybody should own the rights to the name of… Read more »

Credit Card Chips

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

Did you ever wonder why so many retailers have chip-readable machines for credit cards, but tell you to swipe your card anyway? This article explains this frustrating issue for retailers. Questions: 1. Merchants have spent incredible amounts of money to get new chip-reading machines, so what is the reason for not using them? 2. Since… Read more »

Sick Leave? How does it hurt business?

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

Many people go to work even when they are sick. But should this happen in the restaurant industry? As Chipotle found out outbreaks of norovirus, E. coli and salmonella can devastate business. This article discusses the lack of sick leave in the restaurant business and how food workers are the source of about 70% of… Read more »

A New Concept

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

Because of a scramble to locate baby food at night, Robert Ilijason decided to open Sweden’s first unstaffed convenience store. The 39-year old IT specialist now owns a 24-hour convenience store that has no cashier. Questions: 1. How do the customers pay for their purchases? 2. How is the store monitored? What types of controls… Read more »

Investigating Integrity

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

A U.S. watchdog agency is preparing to investigate the Federal Reserve and other regulators in order to determine whether they are too lenient on the banks they are meant to police. Questions: 1. What is the strategy to be used in this investigation? 2. Explain the “revolving door” concept that the article mentions. 3. What… Read more »

I’ll have a Double Irish, Dutch Sandwich to go please

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Financial Reporting and Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized.

In a remarkable tax maneuver, Google moved 10.7 billion euros (or $12 billion) through the Netherlands to Bermuda in 2014. As a result of this structuring, Google will earn most of its foreign income tax-free. Questions: 1. What is this tax strategy called and why? Why Bermuda? 2. Why has corporate tax avoidance risen to… Read more »

End Arbitration?

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

As this blog has noted, arbitration clauses have proliferated in all types of contracts over the last few years for transactions related to cellphone service, credit cards, student loans, etc. Now a pivotal case regarding a nursing home death is putting arbitration to the test for its lack of transparency and applicability to elder abuse… Read more »

Lock Down that Debit Card

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

Have you ever lost or misplaced your debit card? Now some banks are offering a simple app for your cellphone that will allow you to protect bank accounts quickly while you figures out whether you lost or misplaced your card. Questions: 1. How does Bank of America’s version of the debit card lock work? 2…. Read more »

Walmart Adds to the Woes of Small Town America

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

WalMart recently made the decision to close over a hundred stores at once in rural towns across America. In many cases, competitors were forced out of business by the WalMart stores, so now these rural towns are left without grocery stores or shopping options that are many miles away. Questions: 1. According to the article,… Read more »