Solidarity Forever!

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

Reversing a landmark ruling from the George W. Bush era, the National Labor Relations Board ruled today that graduate students who work as teaching and research assistants at private universities have the right to form labor unions. Questions: 1. Where did the original case take place? 2. What universities are excluded from the ruling and… Read more »

Here’s the money. Do you want it?

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According to this article, Ireland doesn’t want Apple’s billions. Instead, the Irish government is appealing Europe’s tax ruling, a move that is exposing a rift in a country still feeling the aftershocks from years of harsh cutbacks. Questions: 1. What is your opinion of the politically motivated defense? 2. Would you consider Ireland to be… Read more »

You Got Caught! Unauthorized!

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

According to The Guardian, Wells Fargo will pay $185m in a settlement over illegal sales practices that included the opening of unauthorized duplicate accounts and credit cards by employees in order to meet sales quotas. Questions: 1. What does the settlement include? 2. Over what period did this take place? 3. Which agency took action… Read more »

Not a good defense when your conversations are being recorded!

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A Manhattan federal jury rejected claims by a former high-flying Wall Street executive that he was in the dark about his dad’s illegal trading of several health care mergers the banker son was privy to. Questions: 1. What is the maximum sentence that Sean Stewart faces? What is the likely sentence? 2. What amount of… Read more »

Big Brother and Hedge Fund Land

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Ray Dalio, billionaire founder of the world’s largest hedge fund, Bridgewater Associates, claims that one of his firm’s core operating principles is “radical transparency, regarding employee grievances and concerns. However, according to Stevenson and Goldstein in this New York Times article, at least one Bridgewater employee sees the firm as a “cauldron of fear and… Read more »

Don’t Try this At Home!

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In a memorable episode of Seinfeld, two characters hatch a plot: instead of returning bottles in New York for a 5-cent refund, they round up a load of containers and run them to Michigan, where the return is double, at 10 cents each. Now Brian Everidge is accused of attempting to “return” more than 10,000… Read more »

$35 here, $35 there and it all adds up!

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While strict rules require account holders to affirmatively opt into banking overdraft protection plans, a U.S. subsidiary of the Spanish banking giant, Santander Bank, which acquired Boston-based Sovereign Bank in 2009, crossed the line. Questions: 1. Briefly summarize what the bank did? 2. Who is the Consumer Financial Protection Bureau and what was their role… Read more »

Trapped by Debt?

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Belkin Antonio Hernandez-Vargas was desperate to see his wife and get out of U.S. custody, so he turned to one of the biggest names in the business of helping immigrant detainees secure bail bonds. As a result, the company Libre by Nexus helped Belkin, an El Salvadorian secure an $8,000 bond after he was able… Read more »

Uncle Sam Picked the Wrong Cash Cow!

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According to the Washington Post, dairy farmer Randy Sowers has gotten back all the money seized by Federal agents from in his bank account. Questions: 1. Briefly describe the underlying issue in this story. 2. What is smurfing? Is this what Sowers did? 3. Why was Sowers successful in getting his money back? Discuss. 4…. Read more »