Puerto Rico is Bankrupt!

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

Puerto Rico has been facing huge debts and population loss for some time. However, in a historic move that will likely trigger a fierce legal battle, the island territory declared bankruptcy. Questions: 1. According to the article, what were the main debts it listed in its filing? 2. How many jobs and what amount of… Read more »

During Trump Times

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.

According to the New York Times, the world currency that has gained the most since Donald J. Trump’s inauguration as president is the Mexican peso. Questions: 1. How much has the peso gained since the day that President Trump was inaugurated? 2. How much did the peso plunge on the day that President Trump was… Read more »

Numbers tell the story

Posted by & filed under Accounting Principles, Advanced Accounting, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized, Video Updates.

Unless you have been vacationing on another planet, you have probably heard about the government shutdown this week. This video by the New York Times provides some quantification of the situation. Questions: 1. Which number in the video surprised you the most? 2. Explain why not reaching an agreement by Oct 17 on the debt… Read more »