A Change in the Collection of Sales Tax

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

According to Slate, the Supreme Court dragged a bit of American tax law into the 21st century when they ruled that states could force all online retailers to collect sales taxes, even if they lack a physical presence there. Questions: 1. Do you think the ruling will change buying habits? Explain. 2. What case was… Read more »

Say it ain’t so, Phil.

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Intermediate Accounting, Managerial Accounting.

Professional golfer Phil Mickelson was recently named in an SEC complaint regarding insider trading information that he received from William Walters, a sports gambler. Questions: 1. During what period did the insider trading take place? 2. Phil has been named as a “relief defendant.” What does that mean? 3. What shares did Phil buy and… Read more »