Protect what?

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.

Under Mick Mulvaney, the CFPB, which once was the agency dedicated to preventing banks and credit-card companies from scamming ordinary Americans, now becomes an agency dedicated to protecting potential financial scammers from legal penalties. Questions: 1. Since Mulvaney took over, what has the Bureau done for payday lenders? 2. Since Mulvaney took over, what has… Read more »

How Can An Extended Shutdown Hurt the Economy?

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

According to the New York Times, a partial stop with this shutdown costs the economy productive work time; historical evidence suggests, along with revenue that the federal government collects from daily fees at parks and museums that private-sector companies that contract with the government have their work temporarily disrupted, and travel spending is reduced, affecting… Read more »

Better Late than Never

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

Defense Department Comptroller David Norquist announced that the Department of Defense (DoD) would undergo its first-ever, financial audit beginning this month. Questions: 1. How many auditors will be tasked with spreading out across the department to examine the records? 2. How much in assets is it estimated that the Pentagon has? 3. According to Norquist,… Read more »

Big Deal

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

According to Reuters, Aetna Inc’s board of directors approved the U.S. health insurer’s sale to drugstore chain operator CVS Health Corp for approximately $207 per share in cash and stock. As such, this $69 billion deal will be the largest corporate acquisition. Questions: 1. What will Aetna shareholders receive? 2. What will happen to Aetna’s… Read more »

Wanted: Someone to handle my cash

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

Personal assistants are the cash handlers for many celebrities, a job that rarely comes with any sort of Hollywood glamour. Questions: 1. According to the article: “…the longer someone has been famous, the less ________________________. Complete the sentence and discuss the implications. 2. What was the most interesting thing you learned from this article? 3…. Read more »

Avoiding the Taxman in Paradise!

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

If you have not had a chance to read about the Paradise Papers, you owe it to yourself to read this article about Nike. Nike is avoiding taxes by charging themselves for intellectual property. This is a story involving grey areas and loopholes, tax havens and zero tax rates, and the movement of money and… Read more »

Vulnerable for a Takeover?

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

Broadcom LTD made an unsolicited $103 billion bid for Qualcomm to set the stage for a major takeover of the chipmaker and dominate the market of semiconductors used in mobile phones. Questions: 1. What is Qualcomm’s take on this bid? 2. Would this deal cause a monopoly? 3. What are the terms of the deal?… Read more »

Navient – Student Loan Corp. Look Out!

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

The call has gone out for the U.S. Securities and Exchange Commission to investigate possible insider trading of shares of student loan company Navient Corporation. Questions: 1. Who has asked the SEC to do this? 2. Why do the Senators suspect this? 3. What are the implications of the details surrounding the trades? Source: Nasiripour,… Read more »

Hong Kong’s Duty

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

According to Bloomberg, even though Hong Kong’s stock market hit record highs this month, the turnover is too low. Now the exchange operator is considering asking the government to remove or reduce a tax on stock transactions. Questions: 1. What is the current stamp duty on both sides of the trade and what does that… Read more »

Sifting through the numbers

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

According to Bloomberg.com, General Electric (GE) Co.’s last quarter earnings were 28 cents a share. They were also 13 cents a share, 19 cents a share and 15 cents a share — all at the same time. How can this be? Questions: 1. What do the numbers include or exclude? 2. What are the new… Read more »