Need a Repair? Need Drum Lessons?

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Need a plumber? If Amazon.com succeeds, it will soon be a very large marketplace of home services and will connect customers with electricians, plumbers and painters in a move to have its services tied to every product sold on its website. Questions: 1. How will this change Amazon’s chart of accounts? 2. Provide three accounts… Read more »

The New Parameters of the Advertising War

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Electronic warfare has broken out between internet users and the $120bn online advertising industry. Questions: 1. According to the article, by what amount did the number of people using ad blocking software increase last year? 2. Do you agree with Mr. Zaneis, general counsel at the Interactive Advertising Bureau, that the free internet that consumers… Read more »

A Big Bet!

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Pfizer is making a $15.2 billion bet on the drug industry’s new, more elite class of generics, which are costly, complex copies of already expensive biotech drugs. Questions: 1. What are biosimilars? 2. Why are there questions about the durability of the market for these specialty drugs? 3. What is the dollar estimate of the… Read more »

Credit Unions for Pot?

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Since medical marijuana was legalized in Colorado in 2001 and recreational marijuana was legalized a year ago, sellers have had limited, if any, access to banking services. As a result, a group of other entrepreneurs in Colorado want to start the first-ever financial institution established specifically to serve the pot industry. Questions: 1. What are… Read more »

Capitalism is Broken?

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Camp Bow Wow, a dog-sitting chain, makes its workers sign non-compete agreements that bar them from plying any of the “trade secrets” they learn walking dogs at any other animal day care centers for up to two years. Questions: 1. Do you think that these quasi-feudal non-compete contracts should be illegal for everyone other than… Read more »

Shopping Comes at A Price

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According to Chico Harlan, five years after the Great Recession, the most striking change in the world of low-income commerce has been the proliferation of rent-to-own stores. Questions: 1. How do rent to own stores avoid state usury laws and other regulations aimed at excessive interest payments? 2. What percentage of items are returned or… Read more »

A Complex Financial Crime Story

Posted by & filed under Accounting Information Systems, 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, Video Updates.

Stephen Flatow, a grieving father, charged that Iran financed the Gaza bus bombing that killed his 20-year-old daughter in 1995. Buried in court filings, the suit alleged that money from a charity “fronted” financial transfers to terrorists from the Iranian government. In fact, the charity, known as the Alavi Foundation, actually operated and owned a… Read more »

Billing Outlier or Fraud?

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According to the Washington Post, Medicare spent $152 per member in the Huntsville, Ala., medical marketplace — 38 times the national average — for “unclassified” drug injections, including a type of injection used rarely around the country but used thousands of times a year at the Alabama Pain Clinic in Huntsville. Questions: 1. Why is… Read more »

Is the Federal Government a Risk to Turbo Tax: Read the Filings with the SEC?

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Free filing of taxes with the Federal government is a concept that has been endorsed by Presidents Obama and Reagan and is already a reality in some parts of Europe. But why isn’t it a reality? Liz Day’s article provides some evidence that the organization, Computer & Communications Industry Association (CCIA) has launched aggressive efforts… Read more »

Seventeen police officers to ticket Gator fans?

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Only 1,260 feet of Route 301 runs through Hampton, Florida, a city with a population of under 500. Yet between 2011 and 2012, Hampton officers wrote 12,698 speeding tickets. Now Hampton, an 89-year-old city, is fighting the state legislature threatening to wipe the town off the map, after a state audit last month uncovered significant… Read more »