More Greed and Graft

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.

According to the Washington Post, what started as an antitrust lawsuit brought by states over just two drugs in 2016 has exploded into an investigation of alleged price-fixing involving at least 16 companies and 300 drugs. Questions: 1. What was the “shorthand” between executives used for? Give an example. 2. According to the article, who… Read more »

Bad News for Nissan

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

According to the New York Times, the Nissan chairman, Carlos Ghosn, was arrested on Monday after an internal company investigation found that he had underreported his compensation to the Japanese financial authorities for several years. 1. After Mr. Ghosn was sent to Nissan’s Japan headquarters, what was he credited with as a result of making… Read more »

Hey there, where’d you get the loot?

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

A woman from Azerbaijan who spent 16 million pounds ($21 million) on jewelry, wine and other goods at luxury London department store Harrods over the course of a decade has become the first target of a new British rule allowing officials to seize money from people suspected of getting their wealth through corruption. Questions: 1…. Read more »

Uber and Lyft to the Rescue

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

This article talks about the cost of an ambulance ride. With ride-hailing services like Uber or Lyft far cheaper and now available within minutes in many areas, it shows how a significant amount of money for non-emergency situation would be better served using an Uber or a Lyft. Questions: 1. How much was spent in… Read more »

A Three-Hour Tour – But Not Gilligan’s Island

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Barbara Carroll’s quick trip to the bank turned into a nearly three-hour ordeal after a Wells Fargo branch accused the 78-year-old black woman of forgery. Questions: 1. How many forms of identification did Ms. Carroll have to show? 2. Why is Ms. Carroll suing the bank and why does she want a jury trial? 3…. Read more »

Change is coming

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Change is coming for a small but blooming corner of the marijuana industry. Questions: 1. What is CBD? 2. Why will regulation change the industry? 3. What are some of the legal grey area with unregulated products? 4. What was the most interesting part of this article for you? Source: Brodwin, E. (2018). There‚Äôs a… Read more »

What is Farm Fraud?

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Brad A. McIntyre, 35, of Bastrop, La., was sentenced on one count of conspiracy to commit mail fraud, five counts of mail fraud and four counts of money laundering related to engaging in monetary transactions in property derived from specified unlawful activity via farm fraud. He was also sentenced to three years of supervised release… Read more »

Flight of the Bumble Bee

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

According to the Associated Press, U.S. prosecutors filed a criminal charge against the CEO of Bumble Bee Foods as part of an ongoing investigation into price fixing in the packaged seafood industry. Questions: 1. During what period did the firm allegedly conspire with others in the industry to eliminate competition by setting prices for canned… Read more »

Are All Mugshots Created Equally? Depends on How Much They Are Worth!

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

According to Wired.com and ARS Technica, the California attorney general’s office charged four people with extortion, money laundering, and identity theft for their alleged involvement with the website Mugshots.com, which posts people’s mugshots, but will take them down for a fee. Questions: Questions: 1. Nationally, how much did the owners receive from people wanting their… Read more »

Sports Betting in All States!

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

According to the New York Times, The Supreme Court struck down a federal law that effectively banned commercial sports betting in most states, boosting the prospect of such gambling across the nation. Questions: 1. Who are the winners in this decision? 2. Who are the losers in this decision? 3. According to the article, what… Read more »