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 »

The Question of Undue Hardship

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The bankruptcy case of Janet Roth stirred a debate over the rigidity of the “undue hardship” standard in discharging student loans. This year, President Obama instructed several governmental agencies to review, by Oct. 1, whether the treatment of student loans in bankruptcy should be altered. Questions: 1. How did Ms. Roth prepare for her case?… Read more »

Is the use of videoconferencing one to improve recidivism or profits?

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Jails are replacing face-to-face visits with video conferencing screens and are passing the costs on to inmates and their families. In some cases, these costs are up to $1 per minute. Questions: 1. Where do most videoconferencing companies make their money? 2. Who are the industry giants in prison videoconferencing? 3. Explain the last statement… Read more »

Catch 22: Money from Legalized Marijuana

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Banks, including state-chartered ones, are reluctant to provide traditional services to legal marijuana businesses in Washington state and Colorado. Since the marijuana businesses are conducted almost entirely in cash, it is exceedingly difficult for these shop owners to open and maintain bank accounts, and ultimately accept credit cards. Questions: 1. Why won’t the banks open… Read more »

Ring-around-the-Rosy

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Did you know that you are paying a fraction of a cent every time you open a can of soda (or other canned beverages)? Why? It is because Goldman Sachs and other financial players have maneuvered the price of aluminum. Each day, a fleet of trucks shuffles 1,500-pound bars of aluminum among 27 warehouses in… Read more »