Posts Tagged: collections

Worse Than We Imagined!

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 National Center for Education Statistics, the typical student borrower will take out $6,600 in a single year, averaging $22,000 in debt by graduation. Questions: 1. Of borrowers who started repaying in 2012, how many had defaulted by 3 years later? 2. By year 5, how many students default? 3. Collectively, how much… Read more »

More Worries About Medical Debt

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

Researchers used U.S. Census information paired with anonymous credit report data on more than four million Americans to study the age profile of people whose medical bills were sent to a US collections agency in 2016. Questions: 1. What did they find out about the average size of medical debt for patients 27 to 64?… Read more »

Living without Water

Posted by & filed under Accounting Principles, Cost Accounting, Financial Accounting, Financial Statement Analysis, Intermediate Accounting, Managerial Accounting.

Thousands of people in bankrupt Detroit haven’t paid their water bills. Even some businesses have skipped payment. How is the bankrupt city dealing with the most basic of problems — getting people to pay their bills? Questions: 1. Detroit is the poster child for shutting off water to customers delinquent on their bills. Even though… Read more »