Walmart vs. Amazon: A Grocery War?

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Intermediate Accounting, Managerial Accounting, Video Updates.

Questions: 1. Do you see this as a competition between Walmart and Amazon? Why or why not and are there any other players in the grocery war? 2. According to the video, why didn’t Walmart just create their own logistical team rather than use Uber and Lyft? 3. Would you be willing to pay $7… Read more »

Who’s asset is it?

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If a person who uses a prepaid debit credit card gets pulled over in Oklahoma, he/she now runs the risk that police can take all of the money loaded onto the card without arresting the person or even obtaining a warrant. Questions: 1. What do the devices purchased by the Oklahoma Department of Public Safety… Read more »

Cher sues to recover from financial firm over “rosy projections!”

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Cher claims Sail Venture Partners and several of its principals defrauded investors to rake in millions in management fees, according to a lawsuit filed Wednesday in L.A. County Superior Court. Questions: 1. When did this happen? 2. What did the managers do with the money? 3. Based on the information in the article, what do… Read more »

Here we Go Again? Another Enron?

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Short-seller and hedge fund manager, Jim Chanos, contends that the Alibaba Group is as problematic in its accounting positions as the now-defunct, corrupt energy giant, Enron. Questions: 1. What part of the company’s operations are most problematic and why? 2. What does cash flow have to do with this story? 3. What does Chanos claim… Read more »

Arbitration Smack-Down

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According to the New York Times, a federal appeals court ruled last week that companies cannot force their employees to sign away their rights to band together in legal actions. In doing this, they delivered a major victory for American workers and opened an opportunity for the Supreme Court to weigh in. Questions: 1. What… Read more »

Moving on up from Counterfeiting

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This article explains the latest spate of attacks on banks in Bangladesh and Southeast Asia, which security researchers say is the first time that a nation has used malicious code to steal purely for financial profit. The country is North Korea. Questions: 1. Security researchers and American government officials have tied thousands of attacks to… Read more »

A Fraud Caught by a Channel-Surfing Judge!

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Dance Moms, a show on Lifetime TV is in its 6th season. The host is Abby Lee Miller, who is facing 20 counts of fraud due to allegations that she fudged specifics when it came to a bankruptcy filing. If found guilty on all counts, Ms. Miller is facing $5 million in fines and five… Read more »

The Shipping News

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According to a study released last Tuesday, U.S. multinational companies are saving $100 billion a year by shifting their profits overseas to lower their tax bills. Questions: 1. Is this tax fraud? Why or why not? 2. Explain the mechanism they are using. 3. Which countries are companies shifting profits to and why (be specific)?… Read more »

Fine Print – Gotcha!

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Tara Zoumer thought she had found her dream job when she was hired at WeWork, a $16 billion start-up that rents office space to young entrepreneurs. As a salaried employee, she was soon asked to expand her duties to include many things that an hourly custodian should do. When she tried to get other employees… Read more »

Suit without merit?

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A $5 million suit was filed in Federal court alleging that Starbuck’s is deceiving customers by filling drinks with too much ice. Questions: 1. Based on the allegation, do you think that Starbuck’s should report the lawsuit as a contingency in their upcoming annual report? Why or why not? 2. Besides claiming that too much… Read more »