“Deadbeat” and proud of it?

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When you hear the word “deadbeat,” you automatically think bad things.  According to former MBNA employee, Jerry Young, a credit card deadbeat is the insider term used by credit card company executives, that refers to credit card users who pay off their bills promptly and in full each month. Doesn’t sound too bad, right? By doing… Read more »

What If You Can’t Pay Payroll Taxes?

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In this video, Darrin T. Mish, tax attorney discusses some of the questions businesses ask about non-payment of payroll taxes.  His advice is to “get current” as soon as possible, even though the IRS may not catch the lapse for up to four years and because IRS payroll tax problems can quickly escalate, once identified…. Read more »

Accounting for Security Deposits

Posted by & filed under Accounting Principles, All Articles, Financial Accounting, Financial Reporting and Analysis, Intermediate Accounting, Video Updates.

A security deposit is money paid by the tenant to the landlord. This deposit protects the landlord if the tenant vacates without making required payments or damages the rental property. If the tenant gives proper notice and vacates without owing any rent or damages, the landlord must return the security deposit to the tenant in… Read more »

How to “Regroup” During a Recession

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Chris Mittelstaedt, owner of The FruitGuys, has turned his local business into a national operation by changing strategy during the recession through investment in technology and the restructuring of his operations. Required: 1.  Based on the video, what were some of the things that Chris did to cut costs?  What disaster almost bankrupted his company?… Read more »

Visual Forensic Accounting Skills Are Assets In Divorce Consulting

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Clearly laying out key ideas and arguments that support divorce proceedings are becoming a critical success factor for forensic accountants who consult in this area. As author, Dan Roam The Back of the Napkin by Dan Roam asserts visual thinking is critical in the business world and forensic accounting is no exception.  For the forensic accountant,… Read more »

Starbucks’ Social Media Strategy

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

It is not an accident that Starbucks is the leading consumer brand on Facebook. CEO and Chairman Howard Schultz explains that Starbucks gained prominence on Facebook by making a significant commitment to investing in social media. Executives at Starbucks have learned that they can’t push a product on a consumer. Rather, they must engage consumers… Read more »

Subway’s $5 Footlong

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The idea for Subway’s $5 footlong sandwich was conceived by a Subway restaurant owner over 5 years ago.  The sandwich is now a cornerstone of Subway’s marketing campaign.  In fact, some people within Subway believe that every time a competitor markets a $5 product, the customer thinks of Subway. As a direct result of offering… Read more »

Learning from Beyonce

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“Learning to sing from Beyoncé” is the way one student explains how it feels to learn about personal finance from the co-founder of a multi-billion dollar hedge fund.  The former banker and trader takes time to teach students from Harlem about personal finance.  His theme is personal responsibility and he believes that the biggest obstacle… Read more »

Avatar Accounting

Posted by & filed under Financial Accounting, Video Updates.

A working knowledge of accounting is helpful for almost any career endeavor. In real estate, for example, brokers must have a thorough understanding of the numbers involved in the decision-making process.  Real estate brokers traditionally determine whether a buyer can make payments to a bank, identify tax benefits of a purchase, and even determine whether… Read more »