Posts Tagged: China

Forced Labor for the Sake of EV?

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Ethical Dilemma, Financial Accounting, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized.

According to the Washington Post, Tesla has been conspicuously silent when it comes to China, despite evidence that materials that go into its vehicles come from the Xinjiang region, where forced labor has been rampant. Questions: Source: Halper, E. (2023). EV makers’ Use of Chinese Suppliers Raises Concerns About Forced Labor. The Washington Post, Sep…. Read more »

Forensic Phone Tools

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Income Taxes, Intermediate Accounting, Managerial Accounting, Uncategorized.

You might think that data extracted from a phone in a lab or police station can be a good thing. But what if the owner is a journalist? Questions: Source: Earp, M. (2023) Forensic Tools Open New Front for Using Phone Data to Prosecute Journalists. Global Investigative Journalism Network, Jan. 6 (Retrievable online at https://gijn.org/2023/01/06/forensic-tools-open-new-front-for-using-phone-data-to-prosecute-journalists/)

Long Awaited Agreement is Only a First Step

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According to Thomson Reuters, the U.S. Public Company Accounting Oversight Board (PCAOB) on Aug. 26, 2022, finally signed an agreement with Chinese authorities that will allow the board to inspect and investigate audit firms based in China and Hong Kong whose clients trade on American exchanges. Questions: When will the PCAOB start inspections? What were… Read more »

China’s New Tough Stance on Tech

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According to the New York Times, despite the fact that Jack Ma and other entrepreneurs have prospered under Beijing’s laissez-faire attitude toward the business side of the internet, new investigations by China’s authoritarian government indicate that the dynamic is shifting as the companies have grown in power. Questions: What is the investigation into Alibaba about?… Read more »

Executives Defraud Chinese Pharmaceutical Company

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According to Bloomberg, China’s securities regulator blacklisted six executives for their role in a $4.2 billion accounting scandal at Kangmei Pharmaceutical Co., one of the country’s biggest drugmakers. Questions: What did the executives do? What did the firm admit to that allowed the fraud to occur? What was the problem with the fine ordered for… Read more »

What is the Polestar 1?

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The Polestar 1 is a 619-horsepower, high-performance, high-priced, gas-hybrid grand-touring car that’s the first vehicle from Volvo’s new stand-alone brand. Questions: Where is the Polestar 1 built? What company bought Volvo from Ford in 2009? Where is this parent company located? What is the exact sticker price of the Polestar 1? Why is the fact that the Polestar… Read more »

Big-time Lost Sales

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According to the Washington Post, U.S. blacklisting of the Chinese telecom giant, Huawei, will reduce the company’s sales by $30 billion over the next two years. Questions By what percentage are Huawei’s cellphone sales outside China expected to drop due to the U.S. ban? Why did the Trump administration bar the selling of U.S. technology… Read more »

The U.S. Trend to Ban Cashless Retailers

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According to Axios, while big chains like Amazon Go, Sweetgreen, and Shake Shack are fast eliminating cash sales, U.S. cities and states are fighting against this trend. Questions: 1. Why are states like New Jersey and cities like Philadelphia banning cashless retailers? 2. What percentage of U.S. sales are made with cash? 3. What is… Read more »

Don’t order the chicken

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The first known shipment of cooked chicken from China reached the United States last week, after a very publicized trade deal between the Trump administration and China. But consumer groups and former food-safety officials are warning that the chicken could pose a public health risk. Questions: 1. What are the health risks? 2. What are… Read more »

Oh, The Times They are A…Changin’

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While the authorities in southwestern China apparently thought their Cultural Revolution-style “shaming” was still effective, they found out how it backfired in the current economy and environment. As officials paraded eight workers through the streets, who had demanded back wages, the public turned the tables on officials and instead called for deadbeat bosses to be… Read more »