Posts Tagged: fines

Underperforming Stores are Closing

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

According to CNN, the struggling Family Dollar discount chain will close nearly 1,000 stores as parent company, Dollar Tree, has struggled to integrate Family Dollar. Questions: Source: Meyersohn, N. (2024). Family Dollar and Dollar Tree will close 1,000 stores. CNN, March 13 (Retrievable online at https://www.cnn.com/2024/03/13/investing/family-dollar-dollar-tree-closing-stores/index.html)

Ergonomic Nightmares and Its Not Even Halloween!

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

According to the Washington Post, state labor regulators in Washington state allege that working at Amazon exposes staff to increased risk of ergonomic injury and musculoskeletal disorders as they awkwardly bend and twist to move goods through the warehouse.  Questions: Source: O’Donovan, C. (2023). Regulators struggle to rein in Amazon on safety for warehouse workers…. Read more »

Judge Vacates Conviction for Bribery Fraud Regarding Lucrative Rights To View Soccer Tournaments

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According to the New York Times, Hernán López, a former Fox employee, and an Argentine sports marketing company had been convicted of participating in a bribery scheme to secure rights to widely viewed soccer tournaments. Now an acquittal. Questions: Meko, H. and K. Bensinger. (2023). Judge Vacates Convictions in Bribery Case Over Soccer Broadcast Deals…. Read more »

Do These COVID-19 Protections Make Sense?

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According to the Guardian, ten companies that allegedly polluted air and water will not be required to pay penalties they agreed to before June 1. Questions: What total in civil penalties will not be made by these ten companies? Why are these penalties being delayed and do you believe this is a good policy? Who… Read more »

Deloitte Fined $5.4M

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Deloitte LLP was fined 4.3 million pounds for audit failures of a unit of Serco Group Plc. Additionally, audit engagement partner, Helen George, was fined 97,500 pounds for failure to act in accordance with the fundamental principle of professional competence and due care. Questions: After admission of misconduct by both Deloitte and Helen George, what… Read more »

Trump may owe more fines

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According to the Guardian,  if Trump Tower and other Trump sites do not cut emissions, the Trump Organization will owe $2.1m a year from 2030. Questions: How many Trump properties in New York City do not comply with new regulations designed to slash greenhouse gas emissions? Which body passed these fines? What will be required… Read more »

It’s Too Late for I’m Sorry!

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Volkswagen shares plunged more than 20 percent on Monday, their biggest one-day fall, after the German carmaker admitted it had rigged emissions tests in the United States, and U.S. authorities said they would widen their probe to other manufacturers. Questions: 1. Briefly explain the emissions data scandal. 2. What was the recent challenge to Volkswagen… Read more »

Don’t speed in Finland!

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In Finland, speeding infractions fines are calculated according to income. This article notes that in Nordic countries, like Finland, many citizens believe that the rich people should pay more for the same offense if justice is to be served. Questions: 1. According to U.S. Tax laws, are speeding tickets tax deductible? 2. How much over… Read more »

No Symbolic Message of Contrition for Jamie Dimon

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What a difference a year makes for Jamie Dimon! Last year, he had half of his paycheck cut to a measley $11.5 million for an embarrassing multi-million dollar trading blowup that resulted in $1 billion in fines. This year, after Chase paid the feds $20 billion in penalties for transgressions committed on Dimon’s watch, JPMorgan’s… Read more »

A Dragnet for Astroturfing

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, Uncategorized.

As a result of a year-long investigation, New York regulators will announced on September 23, 2013 that they would crackdown on deceptive and fake Internet reviews on products and services. Agreements have been reached with 19 companies to cease their misleading practices and pay a total of $350,000 in penalties. Questions: 1. Where were some… Read more »