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 »
Posts Tagged: SEC filings
A Back Door or Bribery?
JP Morgan’s “Sons and Daughters” hiring program is under scrutiny by federal regulators. Confidential documents obtained from the company are being explored to shed light on whether the program indicates wrongdoing by the bank to hire children of China’s ruling elite, in order to secure existing and future business from Chinese-government-run companies. Questions: 1. Based… Read more »
Amazon’s profit strategy?
Almost daily, Amazon announces that it is entering another new venture. How do they do it, since they have yet to show profit that supports their share price? Questions: 1. After reading the article, do you think that Amazon with stay with a discounter form of commerce? 2. How do you think Amazon accounts for… Read more »
Numbers tell the story
Unless you have been vacationing on another planet, you have probably heard about the government shutdown this week. This video by the New York Times provides some quantification of the situation. Questions: 1. Which number in the video surprised you the most? 2. Explain why not reaching an agreement by Oct 17 on the debt… Read more »
Where are the Controls?: Corporate Ethical Breaches Identified by Auditors
According to a 2011 internal audit, executives at the British drug maker GlaxoSmithKline were warned about critical problems with the way the company conducted research at its drug development center in China. Potential financial risk and regulatory action are likely due to the sales practices that are currently at the center of a bribery and… Read more »
Would you invest in a Bitcoin Fund?
Bitcoin has been promoted as an alternative crypto-currency that exists outside the realms of governments and central banks. Now Cameron and Tyler Winklevoss, the twins best known for their part in the history of Facebook, filed a proposal with securities regulators that would allow any investor to trade bitcoins, just as if they were stocks…. Read more »
JPMorgan Chase: Transition from Model Citizen to Problem Child in the Eyes of the Government
According to The New York Times, government investigators have found that JPMorgan Chase devised “manipulative schemes” that transformed “money-losing power plants into powerful profit centers.” In addition, they allege that one of its most senior executives gave “false and misleading statements” under oath. Questions: 1. Who is Jamie Dimon; who is Blythe Masters? 2. At… Read more »
Just helping a friend
On Thursday, April 4, federal prosecutors and the Securities and Exchange Commission filed criminal and civil charges against fired KPMG accounting partner Scott London for conspiracy to commit securities fraud through insider trading. The accountant provided confidential information about KPMG audit clients Herbalife Ltd., Skechers USA Inc., Uggs maker Deckers Outdoor Corp., RSC Holdings and… Read more »
Private Equity Firms and A Tax Strategy Investigation
Eric Schneiderman, the New York attorney general, is investigating abusive tax strategies at some of the nation’s largest private equity firms. As part of these efforts, last week, he subpoenaed documents from more than a dozen firms hoping to uncover conversion of certain management fees collected from their investors into fund investments, which are taxed… Read more »
A New Trend?
According to the Associated Press (AP), Chinese companies are withdrawing from the US stock market amid accusations of improper accounting by some companies, as well as complaints that low share prices do not reflect the true value of Chinese companies. On top of this, the AP note that a state bank has provided $1 billion… Read more »