Under-capitalization costs lives

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

According to the Washington Post, investigations show that Life Care Centers of America, one of the largest chains in the industry, violated federal standards meant to stop the spread of infections and communicable diseases even after outbreaks and deaths from COVID-19 began to sweep its facilities from the Pacific Northwest to New England. Questions What… Read more »

Japanese Whistleblower Wins in the End

Posted by & filed under 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.

Masaharu Hamada, a good salesman with experience in the U.S., was demoted by Olympus Corp. as reprisal for relaying supplier complaints to management regarding corrupt business practices. But he fought back and Japan’s Supreme Court ruled in favor of the whistleblower for the first time. This case highlights the harsh treatment that outspoken employees have… Read more »

Fraudulent Billing Caught by Whistleblower

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Maxim Healthcare Services, a privately held company with 360 offices nationwide offering home health care services, has agreed to pay about $150 million to settle civil and criminal charges over claims of false billings to Medicaid and the Department of Veterans Affairs, the Department of Justice announced Monday. Questions: 1. Since 2009, how many current… Read more »

SWAT (Successful Whistleblowers Advocating Against Tax Payer Fraud)

Posted by & filed under 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, Uncategorized.

A group of elite whistleblowers met in Washington, D.C. There was no media coverage of these men and women whose exploits have been heralded on 60 Minutes and Dateline, and, not incidentally, helped enrich the U.S. Treasury by more than $16 billion since 1986. This particular group known as SWAT (Successful Whistleblowers Advocating Against Tax… Read more »