Posts Tagged: ethics

TikTok Shakeup

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

According to the New York Times, TikTok’s chief operating officer is stepping down, and the company is bringing in a new executive to run its communications department. Questions: 1, Who was TikToks’s COO? 2. Which company did the new COO come from? 3. When did the resigning chief operating officer join TikTok to run its… Read more »

Forever Chemicals Settlement; No Liability Admitted

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, Managerial Accounting, Uncategorized, Video Updates.

According to the New York Times, chemical giant, 3M, reached a $10.3 billion settlement deal with U.S. cities and towns regarding claims that the company contaminated drinking water with so-called forever chemicals used in everything from firefighting foam to nonstick coatings. Questions: Source: Friedman, L and V. Giang. (2023) 3M Reaches $10.3 Billion Settlement in… Read more »

“Home Equity Theft” ruled on by the Supreme Court

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

According to Accounting Today, the Supreme Court unanimously rejected a Minnesota county’s argument that a 94-year-old woman had no property interest in a condominium they seized from her and later sold for more than her unpaid taxes.  Questions: Source: Cohn, M. (2023). SCOTUS rules for 94-year-old in property tax case. Accounting Today, June 6 (Retrievable… Read more »

Do more taxes mean better services?: A cautionary tale

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, Income Taxes, Managerial Accounting, Uncategorized, Video Updates.

Generally, you equate the need for higher taxes in a city as a way to improve the environment. This blog looks at the city of Portland, Oregon. Questions: Source: Conerly, B. (2021) Death Of A City: The Portland Story? Forbes, Jan. 28 (Retrievable online at https://www.forbes.com/sites/billconerly/2021/01/28/death-of-a-city-the-portland-story/?sh=bff67ac74ad0) Constantz, J. (2023). The cities where high earners face… Read more »

First Republic’s Problems

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, Income Taxes, International Accounting, Managerial Accounting, Uncategorized, Video Updates.

According to the New York Times, the bank’s rivals appear on firmer footing this time, in contrast with the widespread panic after the failures of Silicon Valley Bank and Signature Bank in March. Questions: Source: Cowley, S. (2023). In An Unsteady Banking Industry, First Republic’s Problems Stood Out. The New York Times, May 1 (Retrievable… Read more »

The Godfather Speaks about AI

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, Intermediate Accounting, Managerial Accounting, Uncategorized.

According to the New York Times, for half a century, Geoffrey Hinton nurtured the technology at the heart of chatbots like ChatGPT. Now he worries it will cause serious harm. Questions: Source: Metz, C. (2023). ‘The Godfather of A.I.’ Leaves Google and Warns of Danger Ahead. The New York Times, May 1 (Retrievable online at… Read more »

NBCUniversal CEO Out

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, Managerial Accounting, Uncategorized.

According to the Washington Post, the NBCUniversal CEO Jeff Shell will leave the company “effective immediately” following an investigation into a complaint of inappropriate conduct. Questions: Source: Kaur, A. (2023). NBCUniversal CEO departs after ‘inappropriate relationship’. The Washington Post, April 23 (Retrievable online at https://www.washingtonpost.com/business/2023/04/23/jeff-shell-ceo-nbcuniversal-leaves)

Artificial Intelligence (AI) Responses Are Responsible for the Firing of an Editor

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, Managerial Accounting, Uncategorized.

Recently, we have heard many things about the dangers of artificial intelligence (AI). Today, the New York Times published an article about the firing of the editor of German celebrity magazine Die Aktuelle that used the AI-generated responses of retired Formula 1 driver, Michael Schumacher. Questions: Source: Holpuch, A. (2023) German Magazine Editor Is Fired… Read more »

JP Morgan Duped

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, Intermediate Accounting, Managerial Accounting, Uncategorized.

According to Compliance Week, JPMorgan Chase Bank was fooled into wildly overpaying for a student loan assistance company after the bank dropped its guard on how carefully to vet the startup’s customer database. Questions: Source: Nicodemus, A. (2023). Alleged fraudster cited privacy in duping JPMorgan into $175M merger. Compliance Week, April 5 (Retrievable online at… Read more »

Bizarre Development Surfacing Related to Embezzlement and Wire Fraud

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, Intermediate Accounting, Managerial Accounting, Uncategorized, Video Updates.

After a 21-day manhunt, Roy C. McGrath, a fugitive who had been a top aide to Larry Hogan when he was Maryland’s governor, died Monday as the result of a confrontation with the FBI in the Knoxville, Tennessee area.  Questions: Source: Thompson, S., O. Wiggins, P. Stein, and M. Wells. (2023). Former Hogan chief of… Read more »