Posts Tagged: contemporary business issues

Italy’s new web tax

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

Last week, Italy approved a new tax on giant digital companies, which President Donald Trump has threatened to retaliate against. Questions: According to draft legislation, what are some of the U.S. companies that will be obliged to pay a 3% levy on internet transactions? How much is the Italian government expected to recoup from the… Read more »

Exxon Fraud Case Begins

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

According to The Earth Island Journal, New York prosecutors working for then-Attorney General Eric Schneiderman issued their first subpoenas in 2015 to Exxon, claiming that the oil giant used two sets of books and misled investors by downplaying the potential costs of carbon emissions. Next week, the case is actually coming to trial. Questions: Is… Read more »

A New Finance Chief for a 157-year old Company

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

According to the Wall Street Journal, Jennifer Hamann will become the new CFO for the Union Pacific Corporation. Questions: Where is the Union Pacific Corporation headquartered? What areas does the article indicate that she will heavily scrutinize? What financial metrics is Ms. Hamann looking at? What changes were made to Union Pacific’s capital structure prior… Read more »

Bill seeks FASB Required Study

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

According to the Wall Street Journal, Representative Luetkemeyer, a Republican from Missouri, introduced a bill on September 27 in Congress requiring the Financial Accounting Standards Board (FASB) to formally study the impact of new accounting standards before finalizing them.  Questions: What Act does the bill seek to apply? What are the three major effects that… Read more »

Juul CEO Resigns and Company Drops Advertising

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 Drugs.com, vape device maker Juul Labs said Wednesday it is stopping all print, digital and television advertising, and its CEO, Kevin Burns, is stepping down. Questions: Who is the new CEO? Who owns a 35% share of Juul? Who is investigating e-cigarettes and why? Source: Staff. E-Cigarette Maker Juul Stops All Advertising, Replaces… Read more »

Nissan and Ghosn Fraud

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

According to the Washington Post, Nissan will pay $15 million, and former chairman Carlos Ghosn will pay $1 million to settle allegations by U.S. regulators that they hid more than $140 million of Ghosn’s retirement benefits from investors. Questions: How long was Ghosn CEO of Nissan? What punishment did the SEC impose on Ghosn? Was it for hiding… Read more »

New Business Trends: Minority Women

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

According to the Washington Post, minority women are starting firms at a pace more than double that of woman business owners overall, and nearly five times the pace of all company owners. Questions: Who sponsored the new report? What was the growth rate for minority women between 2014 and 2019? What were the main industries… Read more »

No bailout for you!

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, Video Updates.

According to Business Insider, hundreds of thousands of tourists have been left stranded after UK Prime Minister Boris Johnson refused to grant the collapsed travel firm Thomas Cook a bailout of £150 million, or about $186 million. Questions: Explain Johnson’s idea of a moral hazard. How large is the Thomas Cook fleet of planes and… Read more »

Drone Attack and Oil Prices

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, Video Updates.

Iran denies a recent drone attack on Saudi Arabia, as the strikes halve Saudi oil facility output, and President Trump vows to tap U.S. oil reserves. Questions: What has happened to oil futures as a result of the attack? How is the Pentagon weighing in on the latest conflict? What was Secretary of State Mike… Read more »

Millionaires’ numbers are rising in both 401(k)’s and IRA’s

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

According to the Washington Post, the number of employees able to reach millionaire status in their workplace retirement plans has hit record levels. Questions: By how much did the number of Fidelity Investment 401(k) plans increase having $1 million or more over the 1st quarter of the year? Vanguard Investments also saw a spike in… Read more »