COVID Disclosures

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Ethical Dilemma, Financial Accounting, Financial Reporting and Analysis, Income Taxes, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized.

According to a new KPMG report, audit committees will have fuller plates than usual in the coming year as a result of managing agendas packed with new risk management responsibilities amid the fallout from the coronavirus pandemic and other crises of 2020 Questions How many issues has KPMG identified that audit committees will have to… Read more »

AICPA fires back!

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Ethical Dilemma, Income Taxes, Managerial Accounting, Uncategorized.

The AICPA takes issue with Charles Rettig, IRS Commissioner, for penalizing taxpayers and businesses when the IRS is failing to process returns on time. Questions: Who is the Congressional member who entered the AICPA letter into the Congressional Record, regarding this issue? What is the aggregate backlog of mail at the IRS? Why isn’t the… Read more »

Hedge Funds Feed off of the Troubles at Malls

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 the New York Times, as the COVID pandemic accelerates the demise of some brick-and-mortar retailers, hedge fund investors profit handsomely. Questions: Who was Catie McKee, hedge fund analyst talking to last October about her investment strategy? How much did the investor(s) make for the trade within Ms. McKee’s firm that more than doubled… Read more »