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, International Accounting, Managerial Accounting, Video Updates.

Audits and criminal referrals are down sharply by the IRS since Congress cut the tax agency’s budget and management changed priorities.

Questions:
1. How many cases did the IRS’s criminal division bring last year?
2. How many cases did the IRS’s criminal division bring in 2010?
3. According to the IRS’s estimates, how much in taxes goes unpaid by businesses each year?

Source:

Eisenger, J. and P. Kiel. (2018) After Budget Cuts, The IRS’ Work Against Tax Cheats Is Facing ‘Collapse’. Talking Points Memo, Oct. 1 (Retrievable online at https://talkingpointsmemo.com/news/irs-work-against-tax-cheats-collapse).

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

While it’s only September, holiday hiring is ramping up! With historically low unemployment rates plus projections of record-breaking holiday sales, retailers, from major chains to small businesses, are being forced to offer higher pay, catchier perks, and other discounts to attract temporary holiday workers.

Questions:
1. What are some of the perks that retailers are offering to new hires?
2. According to Deloitte, how much are holiday sales expected to rise?
3. What is the fear of employers if they cannot hire enough help?
4. How many temporary workers do Target, Macy’s, and UPS plan to hire?
5. How does the information in this article impact accountants?

Source:

Bhattarai, A. (2018). In holiday ‘war for talent,’ retailers offer turkey dinners and haircut deals to lure temp workers. Washington Post, Sep. 28 (Retrievable online at https://www.washingtonpost.com/business/economy/in-holiday-war-for-talent-retailers-offer-turkey-dinners-and-haircuts-to-lure-temp-workers/2018/09/28/84790d66-c1b5-11e8-b338-a3289f6cb742_story.html)

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

A program intended to wipe away the student loans of qualifying public servants has rejected more than 99 percent of those who applied, according to a government audit that found that “fragmented” management and “piecemeal” operating instructions had contributed to the failure to forgive more debt.

Questions:
1. What does the Education Department say is the reason for the rejections?
2. What did lawmakers create after the Consumer Financial Protection Bureau released an analysis of the flawed program?
3. From an internal control standpoint, what did the program lack?
4. What is the Trump administration proposing regarding the program? What is the position of the Congress?

Source:
Cowley, S (2018). 28,000 Public Servants Sought Student Loan Forgiveness. 96 Got It. The New York Times, Sep. 27 (Retrievable online at www.nytimes.com/2018/09/27/business/student-loan-forgiveness.html)

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.

This article talks about the cost of an ambulance ride. With ride-hailing services like Uber or Lyft far cheaper and now available within minutes in many areas, it shows how a significant amount of money for non-emergency situation would be better served using an Uber or a Lyft.

Questions:
1. How much was spent in the U.S. in 2011 on ambulance services?
2. According to the article, what are some of the costs and benefits of using non-ambulance services?
3. What is an example of fraud in the ambulance industry?

Source:
Frakt, A. (2018). Uber, Lyft and the Urgency of Saving Money on Ambulances. The New York Times, Oct. 1 (Retrievable online at https://www.nytimes.com/2018/10/01/upshot/uber-lyft-and-the-urgency-of-saving-money-on-ambulances.html)

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

While the list of things not included with your plane ticket seems to be constantly growing, there is a new twist in ticket rates. As if it isn’t becoming difficult enough, now some airlines have started bidding sites for seat upgrades!

Questions:
1. What are the extra fees associated with airline transportation called?
2. What is it called when an airline separates all the little costs that use to be part of regular air travel?
3. Which airlines are now incorporating the bidding process?
4. What would you like or dislike about bidding? Discuss.
5. Do the airlines involved have minimum bids and if so, what are they?
6. What is the reason that these airlines started the bidding system?

Source:
Shrikant, A. (2018). Airlines’ latest customer shakedown? Making you bid for a seat upgrade. Vox, Sep. 14 (Retrievable online at https://www.vox.com/the-goods/2018/9/14/17856358/seat-bidding-first-class-flying-airline)

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

According to the New Yorker, Lloyd Blankfein, Gary Cohn, and other leaders at Goldman Sachs have benefitted from a financial crisis that they helped create.

Questions:
1. How have the men in the email fared?
2. By how many months did the story about Goldman Sachs in the New York Times precede mortgage disaster?
3. What did the email say about how finance would, in the coming years, use charity to protect its right to keep taking? Discuss.
4. In your opinion, what was the most surprising thing that you read in the article?

Source:
Giridharadas, A. (2018). After the Financial Crisis, Wall Street Turned to Charity—and Avoided Justice. The New Yorker, Sep. 15 (Retrievable online at https://www.newyorker.com/news/news-desk/after-the-financial-crisis-wall-street-turned-to-charityand-avoided-justice)

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Cost Accounting, Financial Accounting, Financial Statement Analysis, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized, Video Updates.

South Africa has entered into a recession, which is the first time since 2009.

Questions:
1. How much has GDP dropped?
2. What has been attributed to the drop and the contraction?
3. How is the South African currency holding up (the rand)?
4. What is the outlook for the rest of the year?

Source:
Heeb, G. (2018). South Africa stumbles into a recession. Yahoo Finance, Sept. 4 (Retrievable online at https://finance.yahoo.com/news/south-africa-stumbles-recession-125800100.html)

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

Since kids don’t learn much coding in school, the new thing is to send them to summer camps to learn it so that they are not unprepared to tackle computer science in college or in a career.

Questions:
1. What is iD Tech?
2. Do you agree with the article that these camps will perpetuate patterns that exclude underrepresented candidates?
3. What is the best way to approach this area or discipline? Give examples.

Source:
Gellman, L. (2018). Teaching Kids to Code During the Summer—for $1,000 a Week. Atlantic, Aug. 18 (Retrievable online at https://www.theatlantic.com/business/archive/2018/08/coding-camps/566333/)

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

According to the Guardian, American teachers are getting paid less – even though they are better qualified than ever!

Questions:
1. What are the states that saw even sharper declines in salaries than the average?
2. What kind of structural change is happening within the teacher workforce?
3. How much less do teachers make than similarly educated professionals in other jobs?
4. How much more student debt do teachers with masters degrees have than MBAs?
5. Research what types of efforts could be done to increase teachers’ salaries and present a proposal that would alleviate some of the problems mentioned in the article.

Source:
Durkin, E. (2018). Teacher pay drops 5% in last decade – despite better qualified staff. The Guardian, Sep. 4 (Retrievable online at https://www.theguardian.com/us-news/2018/sep/04/teacher-pay-study-dropped-last-decade-report)