What is the cost of a bad hire?

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.

In this article, Goltz helps you understand the importance of a bad business decision, action or behavior, within the hiring process that can have long lasting monetary results. The hidden costs of a bad hire can result in increased recruitment costs, increased training costs, possible increases in the rate of unemployment taxes due to increased… Read more »

Intellectual Property Disputes

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.

The proper valuation and management of intellectual property is an area where accountants add value to their client services.  Often companies engage accountants and other financial experts to defend both plaintiffs and defendants in intellectual property (“IP”) disputes. As this video shows, similarity in names or trademarks can be at the heart of these disputes. … Read more »

What kind of car should you buy?

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Do you ever consider the price of insurance before you buy a car?  Well, maybe you should. According to the insurance data company Quadrant Information Services, a new ranking of average premiums for 2011 models is out, based on averaging late December 2010 car insurance rates from six large carriers across 10 ZIP codes in… Read more »

Healthcare Turf

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Walgreens (WAG), the country’s largest drugstore chain, is poised to expand even further into healthcare. At Walgreens’ annual shareholder conference, company officials talked about a new educational program for patients with chronic and complex diseases, and even mentioned the possibility of a Walgreens role in the emerging accountable care organizations. Until recently, most retail clinics… Read more »

The Avandia Disaster

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GlaxoSmithKline (GSK)’s $3.4 billion legal charge on the diabetes drug Avandia probably isn’t the last of the costs the company will record against this drug. That means Avandia will probably be a lossmaker for GSK, proving that former CEO Jean-Pierre Garnier 1999 failure to follow up on worries about heart attack deaths associated with Avandia… Read more »

Return Fraud

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.

Return fraud costs the retail industry billions of dollars in lost revenues every year. The growing crime is expected to cost retail stores across the nation an estimated $3.7 billion this holiday shopping season alone, according to the National Retail Federation. If that estimate holds true, it will represent 35 percent increase over last year’s… Read more »

Medical Tourism

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.

South Korea is trying to position itself as the destination of choice for medical tourists.  Dr. Won Jin Park does cosmetic surgery in South Korea at prices 30% cheaper than in Japan or the U.S. While South Korea’had about  60,000 medical tourism patients last year, Thailand had 1.5 million patients during the same period. Questions:… Read more »

The Lion that Wimpers

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MGM Bankruptcy news is still coming in, but at the moment we know that Metro-Goldwyn-Mayer Inc. said it has begun seeking its creditors’ approval on a prepackaged bankruptcy plan in which they will exchange more than $4 billion in debt for equity in a new company that has rights to the James Bond franchise and… Read more »

Accept Credit Cards at Garage Sales and Bake Sales

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Why can’t everyone accept credit cards? Now there is no good reason because the Square Up system eliminates card reading equipment by providing cell phone users with an app that snaps into a headphone jack. The plug is free and you are spared the contracts, the minimums and the monthly fees. For each transaction, Square… Read more »

Bollywood on a Budget

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The world’s movie capital is not Hollywood but Bollywood. Bollywood is the nickname for the Indian film industry located in Bombay. Fourteen million Indians go to the movies on a daily basis (about 1.4% of the population of 1 billion) and pay the equivalent to the average Indian’s day’s wages (US $1-3) to see any… Read more »