Trapped by Debt?

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.

Belkin Antonio Hernandez-Vargas was desperate to see his wife and get out of U.S. custody, so he turned to one of the biggest names in the business of helping immigrant detainees secure bail bonds. As a result, the company Libre by Nexus helped Belkin, an El Salvadorian secure an $8,000 bond after he was able… Read more »

A Christmas Miracle?

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Video Updates.

A single father stumbles upon $50K in bonds in a discarded Christmas box and tries to return the money to the owner. Questions: 1. What are bearer bonds? What types of journal entries are associated with them for the issuer? Give examples. 2. What had Mr. Tran done that made these bonds worthless? What do… Read more »

Beware of rising rates

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Video Updates.

This video offers advice for you on when to lock in low interest rates and pay off credit card debt. Questions: 1. Why does the bond market have so much affect on your life? 2. Why would you want to be as aggressive as you can to pay down credit card debt? 3. Why are… Read more »

Feds Catch Bid-Rigging Bankers

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Fraud Accounting, Intermediate Accounting, Managerial Accounting.

Federal authorities are pursuing legal action against bankers accused of systematically defrauding states, local governments and non-profits. The ongoing probe is focusing on bankers who have colluded about the offers they’ve made as they bid on contracts to invest municipal bond proceeds. Questions: 1. What is bid-rigging? Summarize the way in which the suspect bankers… Read more »

Sears and Kmart Close Stores

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

Sears Holding Corp. is ending the year on a bitter note. The company, which earlier this week posted a list of 79 out of the up to 120 Sears and Kmart stores it plans to close and was then downgraded by Fitch Ratings, is now watching its stock bleed out to a new low. In… Read more »

Rhode Island Nearly Broke?

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Uncategorized.

The current general treasurer of Rhode Island, Gina Raimondo, warns that the state will soon be broke due to its debt problems. After decades of drift, denial and inaction, Rhode Island’s $14.8 billion pension system is in crisis. Ten cents of every state tax dollar now goes to retired public workers and that figure will… Read more »