Posts Categorized: Video Updates

DMX’s attorney cannot persuade the judge to go light on the tax fraud

Posted by & filed under Accounting Information Systems, Accounting Principles, All Articles, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Income Taxes, Managerial Accounting, Video Updates.

Rapper DMX’s attorney played the rapper’s song “Slippin’” during his sentencing on Wednesday to help the musician express his struggles, but it was not enough to convince a judge to let the rapper off the hook. Instead DMX got 1 year in prison for tax fraud. Questions: 1. According to court records, how long did… Read more »

Facebook Woes

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, Intermediate Accounting, Managerial Accounting, Video Updates.

According to Bloomberg, Facebook Inc. is heading toward its worst month since May 2013 after an analyst report warned of a temporary pullback in advertising and the FTC confirmed it’s investigating the social network’s privacy practices. Questions: How much market value for Facebook stock has been erased in the last 10 days? What is the… Read more »

Massive Fraud Femme Fitale

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

  According to Masunaga and Peterson, four years ago, the Silicon Valley firm Theranos Inc. was valued at $9 billion and its founder and Chief Executive Elizabeth Holmes was hailed as a potentially revolutionary force in the blood-testing industry. Today, she is deemed a fraudster. Questions: Theranos’ proprietary analyzer could only perform __________ of the… Read more »

It’s just for my stockholders

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

Martin Shkreli, a former pharmaceutical executive notorious for increasing the price of Daraprim by 5,000 percent, along with mounting sneering defenses of his actions and even issuing a bounty for one of Hillary Clinton’s hairs, was sentenced to seven years in prison for fraud.   Questions: What had prosecutors sought for a sentence? What had… Read more »

The Best Eggs That Silicon Valley Money Can Buy

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

According to The Washington Post, Silicon Valley elites are becoming part of the nation’s preeminent local food movement, by owning egg-laying chickens. Having chickens is now on par with driving a Tesla! Questions: 1. What was the most interesting cost that you read about regarding Silicon Valley chickens and all their amenities? 2. What did… Read more »

The Amazon Effect

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According to the New York Times, to create a Super Bowl snack, their authors bought the same ingredients at a new Whole Foods 365 store and a Walmart. The prices were different and so were the outcomes. Questions: 1. What did the authors want to cook? 2. What was the price difference? 3. Which cooked… Read more »

We want REAL eggs!

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

Panera petitioned the Food and Drug Administration to update its 40-year-old definition of the word “egg” to exclude most of the processed egg products that have become popular with fast-food chains and food-service. Questions: 1. How long has the egg product rule been on the books of the FDA? 2. Do you agree with Panera?… Read more »

More worries at Wells Fargo

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As the third-largest bank continues to suffer under a sales scandal that happened in 2016, Wells Fargo & Co detailed new regulatory restrictions imposed by the U.S. Federal Reserve. This news sent its shares down sharply in after-hours trading. Questions: 1. What are the growth restrictions on the bank imposed by the Feds? 2. Why… Read more »

A Big Shout Out!

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According to Huffington Post, even though Hurricane Maria destroyed much of the island’s infrastructure in September, forcing TJ Maxx to shutter some stores there, the company has nevertheless been dutifully paying its employees ever since. Questions: 1. How much of the power had been restored to Puerto Rico when this article was written? 2. How… Read more »

Program at a Standstill!

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

According to Mother Jones, in 10 months, the Trump administration has yet to approve a single claim to help defrauded students of such for-profit colleges as Corinthian or ITT. Questions: 1. Who is now calling on the Department of Education to resume helping students who borrowed loans from the fraudulent for-profit colleges? 2. Approximately how… Read more »