Posts Tagged: Disclosure Issues in Financial Reporting

Unionization Cost Raises at Starbucks?

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, Fraud Accounting, Income Taxes, Intermediate Accounting, Managerial Accounting, Uncategorized.

According to the Washington Post, Starbucks illegally withheld wages and benefits from thousands of unionized baristas, the National Labor Relations Board (NLRB) alleged in a complaint Wednesday. Questions: How many Starbucks locations have voted to join the union? What does the NLRB seek as a result of the complaint? Explain the disparity in wages between… Read more »

Insider Trading

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

According to the Washington Post, Stephen Buyer, ex-GOP Congressman from Indiana, is accused of exploiting nonpublic information in his role as a corporate consultant to reap hundreds of thousands of dollars in profits. Questions: Which arm of the government charges individuals with insider trading? During what period did Buyer act on insider trading information? What… Read more »

Trouble Ahead? Bad Economic Week

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Financial Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized, Video Updates.

Are we headed for a recession? Questions: What is the opinion of Goldman Sachs’ CEO? What did JPMorgan Chase’s CEO say? What did Elon Musk say? What is your opinion and why? Source: Mui, C. (2022). More than 60% of executives think a recession will hit soon, new survey finds. Fortune, June 17 (Retrievable online… Read more »

Two Sets of Books

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

According to the New York Times, a congressional committee looking into wrongdoing within the Washington Commanders N.F.L. franchise referred the case to the Federal Trade Commission. Questions: What did the 20-page letter to the FTC allege? What is the basis of the team’s categorical denial of financial impropriety? If true, what would the allegations mean… Read more »

Diversity Disclosures

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Financial Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized.

On this MLK day, we take a look at diversity disclosures and the S&P as detailed by Richard Binder at BenefitsPro.com. Questions: According to McKinsey & Company, how long will it take for Black workers to reach talent parity across all levels in the private sector? However, if promotion, attrition, and external hiring rates were… Read more »

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 »

Another Walmart PR disaster

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Income Taxes, Intermediate Accounting, Managerial Accounting, Uncategorized, Video Updates.

Walmart’s disabled greeters are being replaced by “customer hosts,” with growing responsibilities. Questions: 1. Why has this been such a PR disaster for the company? 2. How many days were the greeters given to find new jobs? 3. What is the new job of “customer hosts” meant to do? 4. What are your thoughts about… Read more »

Blockbuster Drug

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.

According to Bloomberg, Novartis AG is preparing for significant demand for its new gene therapy, a potential blockbuster targeting a disease that kills infants. Now the company is looking at the potential for installment payment plans for a treatment that could command a multimillion-dollar price. Questions: 1. At what price does Novartis estimate that the… Read more »

Is less better?

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.

According to Axios, listed companies, who previously provided detailed breakouts of information on earnings reports, are now paring down these disclosures. Questions: 1. What is(are) the reason(s) for this minimalist reporting? 2. What changes did Ford Motors make and what may be a reason for this? 3. Companies say the old metrics are less appropriate… Read more »

Resignation of another CEO

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Herbalife’s chief executive has resigned over unspecified comments he made before taking leadership of the Los Angeles supplement maker. Questions: 1. What did his previous remarks relate to? 2. Who is CEO Goudis’ replacement and what is the replacement’s background? 3. Why has Herbalife been in the news since 2015? Source: Pazzanghera, J. (2019). Herbalife… Read more »