When you hear the word “deadbeat,” you automatically think bad things.  According to former MBNA employee, Jerry Young, a credit card deadbeat is the insider term used by credit card company executives, that refers to credit card users who pay off their bills promptly and in full each month. Doesn’t sound too bad, right? By doing… Read more »
Posts Tagged: contemporary business issues
The Effects of Converting to IFRS
The Effects of Converting to IFRS The primary question raised in this article is: “What effects would switching to IFRS have for companies, if forced to switch by the SEC?†Based on a panel of four executives from four major companies, most agreed that there will be almost no material effects in areas that investors… Read more »
What If You Can’t Pay Payroll Taxes?
In this video, Darrin T. Mish, tax attorney discusses some of the questions businesses ask about non-payment of payroll taxes. His advice is to “get current†as soon as possible, even though the IRS may not catch the lapse for up to four years and because IRS payroll tax problems can quickly escalate, once identified…. Read more »
New Accounting Rules for Off-Balance Sheet Assets
New accounting rules governing off-balance-sheet transactions went into effect for most companies in January 2010. The rules force companies to put assets, like mortgage servicing rights, back on their balance sheets. Questions: 1. What financial accounting standards (FASs) are forcing companies to put such assets back on their balance sheets? 2. What are some of… Read more »
Accounting for Security Deposits
A security deposit is money paid by the tenant to the landlord. This deposit protects the landlord if the tenant vacates without making required payments or damages the rental property. If the tenant gives proper notice and vacates without owing any rent or damages, the landlord must return the security deposit to the tenant in… Read more »
Fighting Back Against Payday Lenders
Wisconsin lawmakers agreed on Thursday, April 22, 2010, to regulate payday lenders. Wisconsin had been the only state not to regulate this industry, which consumer advocates said allowed its rapid growth and trapped too many borrowers who take out short-term loans with high interest rates in a cycle of debt. Questions: 1. What were some… Read more »
Corporate Sustainability Can Mean Financial Reward, Despite Extra Costs
Tracking efforts in companies like Wal-Mart, Hewlett-Packard and Clorox, authors Ram Nidumulo, C.K. Prahalad, and M.R. Rangaswami, identified a five-stage process that will benefit companies as they navigate through the adoption of green business models. In the article, the authors contend that early adopters of this process will develop competencies that will be difficult for… Read more »
Late Payments Matter
Late Payments Matter According to new research, approximately 4,000 small and medium sized firms in the U.K. collapsed in 2008 due to late payments by customers. This amounted to approximately 62 billion pounds that were more than 30 days late and of this 15.5 billion that were more than 120 days overdue. For more than… Read more »
How to “Regroup” During a Recession
Chris Mittelstaedt, owner of The FruitGuys, has turned his local business into a national operation by changing strategy during the recession through investment in technology and the restructuring of his operations. Required: 1. Based on the video, what were some of the things that Chris did to cut costs? What disaster almost bankrupted his company?… Read more »
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