The Great Experiment

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

Finland has become the latest country to propose a basic income for all. Under the plan, all Finnish citizens would receive an 800 euro stipend, per month, tax-free. Questions: 1. Based on the current exchange rate, what amount of U.S. dollars is this equal to? 2. What incentive does Finland have to implement this proposal?… Read more »

Security Chips and Bearing the Cost of Fraud

Posted by & filed under Accounting Information Systems, Accounting Principles, All Articles, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Intermediate Accounting, International Accounting, Managerial Accounting.

New payment cards, issued over the last year, come with a small square security chip that can help make in-person transactions more secure. However, retailers complain that they have spent billions of dollars upgrading their payment terminals to accommodate a system that cuts down on the fraud shouldered by banks, but not merchants. Questions: 1…. Read more »

Litigation Finance

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting.

This article discusses the trend of litigation finance, where individuals and companies are turning to private companies to front the money for legal costs in expensive litigation. Despite having in-house counsel, even larger companies are selling off pieces of lawsuits to improve cash flow and reduce risk. Questions: 1. Between 2013 and 2014, how much… Read more »

Less Chemicals and New Recipes

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This article discusses moves by Campbell soup to make its soups with more natural ingredients rather than chemical flavoring. Questions: 1. What is the most recent trend in soup sales? 2. What type of acquisitions has Campbell made recently to obtain toeholds in new markets? 3. What type of retooling changes have been made to… Read more »

Asset Forfeiture Followup

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During 2014, law enforcement officers took more property from American citizens than burglars did. This was a new record. Questions: 1. What was the source of these data? 2. Why aren’t the asset forfeiture deposit amounts necessarily good indicators of the rise in the use of forfeiture? 3. Why are the net assets of the… Read more »

Corporate Challenges to Workman’s Comp

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, Auditing, Cost Accounting, Ethical Dilemma, Fraud Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized.

For quite a while, the state of Texas has allowed companies to opt out of workman’s comp and write their own benefit plans. As a result, benefits for the same body part can differ dramatically depending upon which company you work for. Questions 1. Who is Bill Minick and what corporate movement is his firm… Read more »

A Disturbing Trend

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A controversial law enforcement known as civil asset forfeiture allows police to seize and keep cash and property from people, who are suspected of wrongdoing but may never be charged. Despite public outcries, the use of this procedure has increased in the past decade. Questions: 1. The figures in reports show “the size of the… Read more »

All Day Breakfast

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In an email to franchisees, McDonald’s US President Mike Andres called the all-day breakfast launch a success. However, this article points to a survey of U.S. franchisees that disagree. Questions: 1. Why are McDonald’s franchisees saying that the all-day breakfast launch has been a nightmare? List the reasons and rank them according to your opinion… Read more »

What’s going on with Walmart stock?

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The four members of the Walton family controlling more than half the shares of Wal-Mart Stores Inc. had $11 billion of their combined net worth evaporate Wednesday as shares of the retailer plunged on a lower earnings outlook for the coming fiscal year. Questions: 1. Who are the four Waltons that the article is talking… Read more »

Kaleil Tuzman: The Rest of the Story

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Intermediate Accounting, Managerial Accounting, Video Updates.

Kit Digital Inc.’s former chairman and chief executive officer and its former chief financial officer were arrested and charged with accounting fraud at the software company. Questions: 1. What was the type of accounting fraud that Tuzman and Smythe are charged with committing? 2. According to the article, how much money was involved and who… Read more »