Posts Categorized: Video Updates

Huge Food Merger

Posted by & filed under Accounting Principles, Cost Accounting, Financial Accounting, Intermediate Accounting, Managerial Accounting, Video Updates.

Heinz is going to buy 51% of Kraft in a deal brokered that is by Berkshire-Hathaway and the Brazilian-based private equity company 3G. As a result, Kraft shareholders will get a $10 billion special dividend (about $16.50 a share) under the deal. Questions: 1. What happened to the price of Kraft shares after this deal… Read more »

How many 112 year olds are taking new jobs?

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

A recent audit of the Social Security Administration revealed that thousands of workers over the age of 100 applied through the U.S. government to verify their employment eligibility in recent years. Questions: 1. About how many active Social Security numbers in the Administration’s master file belong to people who are at least 112 years old?… Read more »

Be Careful: Your TV may be listening to you!

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

Samsung is warning customers not to discuss personal information in front of their smart television set. The warning applies to TV viewers who control their Samsung Smart TV using its voice activation feature. It is possible that this information will be shared with third parties. Questions: 1. What types of steps has Samsung taken to… Read more »

So was it a good idea to sell out your customers’ trust?

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

When Lenovo preinstalled Superfish adware on its laptops, it betrayed its customers and sold out their security. Questions: 1. What does this Superfish app do when you are on websites? 2. Do you agree that Lenovo needs to be fined or face legal prosecution? 3. Explain the following statements in financial or business terms: Lenovo… 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 »

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 »

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 »

Military Contracting Failures: A $1.5 Trillion Mistake

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

The F-35 is being produced by 1,200 suppliers. Seen as the fighter jet of the future, it has trouble flying at night, its engines have exploded during takeoff, and early models suffered structural cracks. Questions: 1. Why is the military still pursuing the production of this pink elephant? Why doesn’t technology become less costly for… 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 »

Financial Worries Spark Divorce Settlement Appeals

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

In late 2014, oil tycoon Harold Hamm called a divorce settlement with his ex-wife, Sue Ann Arnall, equitable and fair, awarding her about $1 billion. Since then his holdings in oil have decreased dramatically and he argues that her award is a substantially larger proportion than he first agreed to. Questions: 1. Who is Harold… Read more »