Protect what?

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.

Under Mick Mulvaney, the CFPB, which once was the agency dedicated to preventing banks and credit-card companies from scamming ordinary Americans, now becomes an agency dedicated to protecting potential financial scammers from legal penalties. Questions: 1. Since Mulvaney took over, what has the Bureau done for payday lenders? 2. Since Mulvaney took over, what has… Read more »

The Unbanked

Posted by & filed under Accounting Principles, Cost Accounting, Financial Accounting, Managerial Accounting, Video Updates.

According to a new Federal report, more Americans are limiting or have no interaction with banks. Instead they rely on check cashers and payday lenders to manage their finances. Questions: 1. What are the costs and benefit of avoiding banks? 2. What percentage of U.S. households are “unbanked”? What are the demographics of this group?… Read more »

Christmas Cheer Backfires

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

Tyrone Newman decided to celebrate Christmas after he finally got a job and kept it for one year. Unfortunately, the Northeast Washington, D.C. maintenance man ended up spending his $1,500 mortgage payment on Christmas gifts. Not wanting to tell his wife that he had no way to pay the mortgage, he got several loans from… Read more »