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

According to Accounting Today, the Securities and Exchange Commission adopted rules to reduce the number of disclosures of business, legal proceedings and other risk factors, including environmental and human capital risks, that public companies are required to make. This is seen as probably the biggest overhaul of Regulation S-K disclosures in more than three decades.

Questions:

  1. What is chairman Jay Clayton trying to do with this rollback?
  2. Which commissioners disagreed and why?
  3. What approach are the requirements for amendments to the Regulation S-K disclosure taking?

Source:

Cohn, M. (2020) SEC reduces disclosures of legal proceedings, climate change and human capital risks. Accounting Today, August 26 (Retrievable online at https://www.accountingtoday.com/news/sec-reduces-disclosures-of-legal-proceedings-climate-change-and-human-capital-risks)

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With many accounting practices rushing to provide access for remote employees and clients (without fully understanding security implementations), cyberattacks on CPA practices of all sizes has increased 300 percent during the COVID pandemic.

Questions:

  1. What do the cybercrimals do as part of a ransomware attack?
  2. Why are firewalls and antivirus software no longer enough to protect a network?
  3. What role should an accounting firm’s workforce play in protecting networks?
  • Source:

Salman, G. (2020) The rise of cybercrime in the accounting profession continues. Accounting Today, August 24 (Retrievable online at https://www.accountingtoday.com/opinion/the-rise-of-cybercrime-in-the-accounting-profession-continues?)

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According to this article, achievers are focused, polished, confident and have a career in their crosshairs. However, the rest of the population usually bounces among jobs and interests for a while, discovering talents and through experimenting, eventually stumble on a ”calling.” This article details one such person.

Questions:

  1. What business was Shana Greenbaum starting?
  2. What was unique about her business?
  3. What jobs had Shana done prior to becoming an entrepreneur?
  4. In your opinion, what was the most interesting issue in this article?

Source:

Heath, T. (2020). Healthy Fresh Meals competes in growing meal delivery market. The Washington Post, August 22 (Retrievable online at https://www.washingtonpost.com/business/economy/entrepreneur-turns-healthy-lifestyle-into-booming-meal-delivery-business/2020/08/22/84b8e456-dd7c-11ea-b205-ff838e15a9a6_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, Video Updates.

According to the New York Times, as the COVID pandemic accelerates the demise of some brick-and-mortar retailers, hedge fund investors profit handsomely.

Questions:

  1. Who was Catie McKee, hedge fund analyst talking to last October about her investment strategy?
  2. How much did the investor(s) make for the trade within Ms. McKee’s firm that more than doubled their money?
  3. Why is this type of trade the opposite of investors buying stocks and bonds with the expectations of a rise in value and what is it called?

Source:

Kelly, K. (2020). ‘The Big Short 2.0’: How Hedge Funds Profited Off the Pain of Malls. The New York Times, August 24 (Retrievable online at https://www.nytimes.com/2020/08/24/business/mall-short-hedge-funds.html)

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

Tik Tok sued the U.S. government for the policy of the Trump Administration that deprives it of its due process of blocking the app from operating in the country.

Questions:

  1. Where was the lawsuit filed?
  2. What was the other app besides Tik Tok that Trump issued a ban against?
  3. How many workers does Tik Tok say that it planned to hire across eight U.S. states in the future?

Source:

Isaac, M. and A. Swanson. (2020). TikTok Sues U.S. Government Over Trump Ban. The New York Times, Aug. 24 (Retrievable online at https://www.nytimes.com/2020/08/24/technology/tiktok-sues-us-government-over-trump-ban.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.

Since Northwestern University’s Kellogg School of Management’s already sends a huge number of its MBAs into technology fields, it is investing even more in tech as a future home for its graduates.  

Questions:

  1. What percentage of Northwestern Kellogg’s MBA Class of 2019 went into jobs in the tech industry?
  2. What is Northwestern’s current popular program even before these changes?
  3. Complete this sentence: The MBAi will marry: __________ and ___________.
  4. How do you see this blended learning environment helping an accounting graduate?

Ethier, M. (2020). Kellogg Makes Another Big Tech Investment With New ‘MBAi’. Poets and Quants (Yahoo Finance!), Aug. 24 (retrievable online at https://finance.yahoo.com/news/kellogg-makes-another-big-tech-193609366.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, Video Updates.

According to the Washington Post, grocery workers across the country say morale is crushingly low as the pandemic wears on with no end in sight.

Questions:

  1. Why do grocery workers feel a renewed sense of expendability?
  2. Why do grocery workers feel like this is a dead end job?
  3. What was different in March and April of this year?
  4. Are groceries required to report Covid-19 cases to local health departments?
  5. What generally happens if a grocery worker tests positive for Covid-19?

Source:

Bhattarai, A. (2020). Grocery workers say morale is at an all-time low: ‘They don’t even treat us like humans anymore’ The Washington Post, August 12 (Retrievable online at https://www.washingtonpost.com/business/2020/08/12/grocery-workers-coronavirus/)

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According to the New York Times, Delta Airline’s foray into oil refining in 2012 illustrates some of the reasons that the business was in trouble even before the pandemic.

Questions:

  1. What was the bold experiment that Delta Air tried?
  2. What were the flaws in Delta’s strategy?
  3. What is the most immediate concern of the refinery executives?

Source:

Krauss, C. and N. Chokshi. (2020). Delta Air Lines Bought an Oil Refinery. It Didn’t Go as Planned. The New York Times, August 10 (Retrievable online at https://www.nytimes.com/2020/08/10/business/energy-environment/delta-oil-refinery-jet-fuel.html)

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

According to the Washington Post, McDonald’s,the fast-food giant claims Steve Easterbrook, whose severance package is said to be worth $42 million, destroyed a paper trail of his “inappropriate personal behavior.”

Questions:

  1. What did Mr. Easterbrook cover up?
  2. Why did the company reopen the firing case back up in July?
  3. How did the company find out about the problems with Mr. Easterbrook?

Source:

Denham, H. (2020). McDonald’s Sues Fired CEO to Recoup Severance. The Washington Post, August 10 (Retrievable online at https://www.washingtonpost.com/business/2020/08/10/mcdonalds-ceo-lawsuit/?hpid=hp_business-1_mcdonalds-sue-1050am-biz%3Ahomepage%2Fstory-ans)

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The Securities and Exchange Commission launched a probe of circumstances surrounding Eastman Kodak (KODK) and a $765 million government loan it received last week to make pharmaceutical ingredients at its U.S. facilities.

Questions:

  1. What happened to Kodak stock between the announcement of its government loan to make pharmaceutical ingredients and the announcement of the SEC probe?
  2. Which U.S. Senator indicated that Kodak may have an insider trading problem?
  3. When were some of the stock-options in question actually granted to Kodak executives?  

Source:

Ghosh, P. (2020). SEC Probing Loan Disclosure, Unusual Stock Trading Activity At Eastman Kodak. International Business Times, August 4 (Retrievable online at https://www.ibtimes.com/sec-probing-loan-disclosure-unusual-stock-trading-activity-eastman-kodak-3022399)