In February 2014, Netflix took out a $400 million loan. Netflix is using these funds to help to create original programming, such as its hit series “House of Cards,” and to expand to Europe. Netflix is a publicly-held company trading on NASDAQ under the symbol NFLX. On March 10, 2014, Netflix common stock was selling […]
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When does Carnival Cruise Lines recognize revenues and expenses for its cruises?
April 7, 2014 
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Carnival Cruise Lines had a record-breaking month in January 2014 in terms of number of net bookings (new bookings less cancellations.) During January 2014, Carnival booked more than 565,000 (net) guests for cruises to be taken over the next two years. Part of the reason that Carnival may be seeing increased bookings is its new […]
Continue reading10-K Minute: Target, Data Breach, and Contingent Liabilities
March 27, 2014 0 Comments
Background In the fourth quarter of 2013, hackers broke into Target Corporation’s system and stole the names and credit card information for up to 70 million customers. This data breach is among the largest data breaches in U.S. history and lawsuits against Target Corporation are being filed by several parties including customers, credit card companies, […]
Continue readingHow does Starbucks account for gift card sales?
December 23, 2013 0 Comments
In December 2013, Starbucks was predicting it would have record gift card sales for the year. Last year (2012), Starbucks sold more than 2 million gift cards on the Thursday before Christmas, which was a rate of more than 1,500 gift cards per minute. In 2013, Starbucks expects to top that figure. For the entire […]
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Accounting in the Headlines 