Piece-Rate Work or Overtime Violations

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.

According to the Miami Herald, a Florida air-conditioning company has been taken to court for the seventh time since 1995 for failing to pay its employees what they are owed. Questions: What is the name of the company and where are they headquartered? What Act have they violated? What agency brings forth the violation suit?… Read more »

Theranos Scandal Story Continues

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

While speaking with four former Theranos employees about the upcoming trial of embattled CEO Elizabeth Holmes, CNBC found the former employees want the trial to be over and still fear retribution. Questions: What was Micah Nies’ position at Theranos? Do the former employees think Holmes will be found guilty? Why? What red flags of the… Read more »

A Valuable Mineral for Electric Vehicles

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As the first new large-scale lithium mine in the United States in more than a decade is preparing for blasting in Nevada, the project, known as Lithium Americas, is in the courts and has drawn protests from members of a Native American tribe, ranchers and environmental groups. Questions List the bullet point objections to the… Read more »

Facebook’s Victory

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

According to Reuters, Facebook hits $1 trillion value after the judge rejects antitrust complaints. Questions: Federal and state antitrust complaints sought to have Facebook sell what apps? Where did the judge find flaws in the arguments? What was the bright spot for the FTC in the case? Source: Bartz, D. and E. Culliford. (2021). Facebook… Read more »

For Sale: The Lease to the Trump Hotel in Washington D.C.

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According to the Washington Post, Donald Trump’s company will again try to sell the lease for the D.C. hotel. Questions: What event prevented an attempt to unload the property the first time? According to Trump disclosure forms, how much did the revenue for the hotel drop last year? What has been the average recent occupancy… Read more »

Scamdemic

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According to the Department of Justice, three family members were arrested in New York for misrepresenting employee payroll figures to receive COVID-19 loan funds for a chain of family-owned nail salons. Questions: According to the report, how was the payroll misrepresented by this family? What federal organizations were involve in the identification of these fraudsters?… Read more »

Tik Tok Sues the U.S.

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Tik Tok sued the U.S. government for the policy of the Trump Administration that deprives it of its due process of blocking the app from operating in the country. Questions: Where was the lawsuit filed? What was the other app besides Tik Tok that Trump issued a ban against? How many workers does Tik Tok… Read more »

Golden Arches wants their Money Back

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According to the Washington Post, McDonald’s,the fast-food giant claims Steve Easterbrook, whose severance package is said to be worth $42 million, destroyed a paper trail of his “inappropriate personal behavior.” Questions: What did Mr. Easterbrook cover up? Why did the company reopen the firing case back up in July? How did the company find out… Read more »

KPMG Turns the Page

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According to Accounting Today, KPMG is appointing new leaders to its U.S. audit, tax and advisory businesses, as well as a new leader in charge of growth & strategy, in an effort to boost its reputation after a number of scandals. Questions: What was the scandal involving PCAOB inspections of the firm? What were the… Read more »

Fraud Disgorgement by SEC Ruled OK

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In an 8-to-1 decision, written by Justice Sonia Sotomayor, the court said the money must be for the benefit of investors and cannot exceed the actual profits that came from the wrongdoing.  Questions: Which justice voted against the majority saying that the law does not give authority to the SEC for the practice of disgorgement?… Read more »