Posts Tagged: litigation

Circumventing the Courts with Nine Words

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, Uncategorized.

Banning class action suits have essentially disabled consumer challenges to practices like predatory lending. Additionally, a Wall Street-led coalition of credit card companies and retailers, have also engineered blocks on class action suits. In this article, various companies’ efforts to protect arbitration are discussed. Questions: 1. Why has the “birth of a thousand clauses” taken… Read more »

Bad Legal Advice or Bad Insurance Companies or Bad Laws?

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One of my favorite quotes is that from author Wendy Mass: “Be kind, for everyone you meet is fighting a battle you know nothing about.” And so it seems that this story may illustrate it well. The article and video discuss the case of Jennifer Connell who sued her nephew, Sean Tarala, for $127,000 over… Read more »

Vintage Frauds

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The issue of fake wines started to become headline news a few years ago when the so-called Thomas Jefferson bottles, several old bottles of Bordeaux, claimed to have belonged to Thomas Jefferson were offered by a German wine collector named Hardy Rodenstock. Bill Koch, the brother of the notorious Charles and David Koch, bought four… Read more »

Frauds in Small Family-owned Wineries

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

There have been a number of examples of wine-related crimes in recent times. In the wine industry, the most trusted employee could be the person least suspected of committing fraud. This article details some of the most recent frauds in the wine industry. Questions: 1. What types of fraud are highlighted in the article? 2…. Read more »

Fueling Both the Upside and Downside

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In the wake of the financial crisis, HUD established the Dirtressed Asset Stabilization Program. Unfortunately, this program has allowed many of these loans to be sold to hedge funds and private equity firms, rather than nonprofits. Questions: 1. What have the private equity firms done that Senator Warren is rallying against? 2. How many distressed… Read more »

American Apparel Bankruptcy

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

American Apparel has been in the middle of a turnaround effort that includes store closings and some layoffs. The company also faces several lawsuits from ousted CEO Dov Charney. Now they face the bankruptcy court. Questions: 1. What were the allegations against previous CEO Charney and what types of financial strains has this put on… Read more »

It’s Too Late for I’m Sorry!

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

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 »

A Poor Recordkeeping System

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The department’s inspector general of the Department of Veterans Affairs said Wednesday that a total overhaul of the record-keeping system at the VA could take years. Questions: 1. In the scathing report, what was the estimate of the number of veterans that had already died waiting for treatment and why weren’t they removed from the… Read more »

What you are doing and how fast you are doing it?

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

A new generation of workplace technology is allowing white-collar jobs to be tracked, tweaked and managed in ways that were difficult even a few years ago. While the programs are meant to foster connections and sometimes increase productivity among employees who are geographically dispersed and often working from home, questions are piling up about the… Read more »