Posts Tagged: Expenses

Welcome to the GMO free zone of the future

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Intermediate Accounting, Managerial Accounting, Uncategorized.

As we head into the hot summer, what sounds great? Well, ice cream, of course! And who is in the news? Ben and Jerry’s. According to the Huffington Post, Ben and Jerry’s is removing a controversial ingredient from its ice cream: Genetically-modified organisms (or GMOs). The back story is that only 80% of Ben &… Read more »

So, is it a record if you don’t pay for it?

Posted by & filed under Accounting Principles, All Articles, Cost Accounting, Financial Accounting, Intermediate Accounting, Managerial Accounting, Video Updates.

For all you Starbuck’s watchers, remember in February 2012 when Logan Warren held the record for the most expensive Starbuck’s drink? It was a 31-ounce Trenta that cost $23.60. Into it went a Java Chip Frappuccino, enhanced with plenty of that’ll-cost-you-add-ons: 16 shots of espresso, soy milk, caramel, banana and strawberry purees, vanilla beans, and… Read more »

Hyundai & Kia overstated mileage

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

Hyundai Motors America and Kia Motors America are being forced to lower the fuel economy estimates on the majority of their 2012-13 models after an investigation by the Environmental Protection Agency found that the companies overstated the fuel efficiency numbers for their vehicles in previous years. Based on the audit, they will also have to… Read more »

It Beats Earning $20 an Hour?

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

Flipping houses earned a bad reputation during the housing bubble, when speculators bought and sold millions of homes in search of easy profits. But as the real estate market is showing signs of life, the practice is gaining popularity again. Questions: 1. Which areas of the country have seen the most flipping action and why?… Read more »

The Unveiling of the Future?

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Intermediate Accounting, Managerial Accounting, Video Updates.

Apple’s iPad Mini will likely be unveiled at a special event on October 23. The device is expected to ship with a 7.85-inch screen and costs about half of what the current starting price for an iPad. Questions: 1. According to both articles, what have iPad sales to the K-12 market been doing to PC… Read more »

Exploding Water Pipe – Fraud Alert

Posted by & filed under Accounting Principles, Auditing, Cost Accounting, Financial Accounting, Fraud Accounting, Intermediate Accounting, Managerial Accounting, Video Updates.

Forty-five government entities are now joining whistleblower John Hendrix’s suit against JM Eagle. The suit alledges that the largest PVC pipe manufacturer committed fraud by intentionally selling pipe to governments, where the company’s internal quality controls showed 50 to 80 percent failure rates. Questions: 1. What was Hendrix’s position with the firm and what did… Read more »

The Cost Disease

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

Much of our political debate is fueled by the rise in the cost of healthcare, education, and other necessary services. Interestingly, the new book “The Cost Disease” is based on the work of William Baumol, who as a young economist in the 1960s promoted the idea tagged “Baumol’s Disease,” which explains that our current predicament… Read more »

Interesting Educational Strategy

Posted by & filed under Accounting Principles, All Articles, Cost Accounting, Financial Accounting, Managerial Accounting.

At U.S. colleges, like NYU and Northeastern, some freshmen are beginning their studies abroad during their first and even second semesters. According to Bloomberg, the strategy is one used by universities to enroll larger classes and get more tuition dollars. How? The universities use the students and their tuitions to fill the beds of midyear… Read more »

Angie’s list

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By now you have probably heard of Angie’s List. Angie Hicks started the company in 1995 after a friend moved and had trouble finding reliable contractors. Originally started in Columbus, Ohio, the company has expanded to other national markets. There is a subscription fee to belong to this list that includes personal recommendations. Questions: 1…. Read more »

Labor Department Violations

Posted by & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, Managerial Accounting.

On Tuesday, the Labor Department announced that it had levied a $34,000 fine on C. J.’s Seafood for safety violations. This is the company that supplies crawfish to WalMart. In addition, the agency also ordered C. J.’s to pay $214,000 for wage and hour violations. Questions: 1. Where is the company based? 2. Specifically, how… Read more »