Inequality in Taxes

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

Interestingly, in most places, a dollar is a dollar. However, under the new tax plans, that may change. Consider two chefs working side by side for the same catering company, doing the same job, for the same hours and the same money. The only difference is that one is an employee, the other an independent… Read more »

Who’s Scrooge this year? Ba-Humbug!

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

According to the Washington Post, who sources Senate staffers, the Treasury Department refuses to stop forcing permanently disabled people to pay taxes on student loans that have been canceled, leaving a vulnerable population susceptible to thousands of dollars in charges. Questions: 1. What is the financial problem associated with each dollar forgiven? 2. What is… Read more »

Just Buy an EZ Pass and save your money next time!

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

Watch out for bad information from your “expert” friends! That is what Jason Bourcier wishes that he would have done.   Bad information tip #1: A friend told him that when the toll booths were unmanned after 11:30 p.m., you could use the road without paying on the Dulles Toll Road. Bad information tip # 2:… Read more »

How to Earn $46,000 for Each Day Spent in Prison

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, Video Updates.

Bradley Birkenfeld, the whistleblower in a tax fraud case against Swiss bank UBS AG, was awarded a record-setting $104 million reward from the IRS. Birkenfeld learned about the inner workings of UBS as an employee of the company and supplied many secrets about his former employer’s dealings with U.S. clients. Despite this, he was jailed… Read more »

Jail is not for Big Pharma

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

In the largest health care fraud settlement in U.S. history, A federal judge on approved an agreement to fine British drugmaker GlaxoSmithKline for criminal and civil violations involving 10 drugs. Questions: 1. Do you think fines can deter unlawful behavior at Big Pharma? In your opinion, why didn’t anyone go to jail for these violations?… Read more »