Facebook, Inc., is a publicly held corporation and is frequently in the news. For example, in August 2016, it announced a new feature called “Lifestage,” which is an iOS app that emulates Snapchat and is designed to be used by teens. Also in that same month, Mark Zuckerberg sold $95 million of his Facebook shares. […]
Continue readingTechnology tip: How to keep the original formatting when copying a slide into a PowerPoint file
August 18, 2016 
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At the annual American Accounting Association conference last week, one of my co-presenters had our original PowerPoint file on her computer. I had a slide that I wanted her to insert into that main PowerPoint file we were going to use to present. When she inserted my slide, my slide lost its formatting to take […]
Continue readingHow many snow cones need to be sold for a Snowie™ snow cone cart to break even?
August 16, 2016 0 Comments
Snowie™ is a brand of flavored shaved ice that is sold in snow cones at a variety of events and locations across the United States. Recently, a Snowie™ cart was spotted at the Kent Heritage Festival this summer. During this festival, street vendors offer a variety of foods and drinks. At the Snowie™ cart, festival […]
Continue reading8 revenue recognition exercises for introductory financial accounting featuring LL Bean
August 4, 2016 4 Comments
In 2015, FASB updated the revenue recognition standards. While most of the impact of the revised revenue standard will impact Intermediate Accounting coverage, some changes will also need to be made to update introductory financial accounting coverage. Using hypothetical examples featuring LL Bean, I have developed a set of classroom exercises (and solutions) that can […]
Continue readingWhat type of responsibility center would Mickey Thompson Performance Tires be for Cooper Tire & Rubber Company?
July 12, 2016 0 Comments
Mickey Thompson Performance Tires (https://www.mickeythompsontires.com) designs, develops, and distributes specialty tires for drag racing and other motor sports. The company was founded in 1963 and the company holds several patents related to tires. Cooper Tire & Rubber Company (CTB), the 12th largest tire company in the world, purchased Mickey Thompson Performance Tires in 2003. Mickey […]
Continue readingWhat internal controls might have prevented the $1.4 million kickback fraud scheme at Utz?
July 5, 2016 4 Comments
Utz Quality Foods Inc., a snack food company based in Hanover, Pennsylvania, was recently the victim of a $1.4 million fraud scheme. Utz’s former director of purchasing acting together with an Utz vendor allegedly ran a false invoice kickback scheme. During the several years over which the fraud allegedly occurred, Jonathan Haas was the owner […]
Continue readingWhat type of quality costs would the torn PUMA soccer jerseys be considered?
June 30, 2016 0 Comments
At a European Championship game for men’s soccer in June 2016, at least four of Switzerland’s red jerseys were torn during the game again the French team. Three of the Swiss jerseys torn around the numbers. The wardrobe malfunctions left the players with large parts of their backs exposed until they could get to the […]
Continue readingTechnology tip: How to shorten your long web links (URLs)
June 28, 2016 2 Comments
Do you ever want to give students a link for a document or website during class but the URL is too long to reasonably type? For example, let’s say I want to give students the link during class to a blog post I wrote. The original blog post URL is long – see https://accountingintheheadlines.com/2016/06/07/what-is-the-impact-on-snapchats-balance-sheet-from-its-latest-issuance-of-stock/. However, […]
Continue readingWould Yogurt Vi use job costing or process costing in calculating the cost of a customer’s cup of frozen yogurt and toppings?
June 23, 2016 0 Comments
Yogurt Vi (pronounced vee) is a frozen yogurt restaurant with several locations in Ohio. Customers will select the flavor of frozen yogurt they want and fill their cup from the self-serve machine with the desired amount of the frozen yogurt. Next the customer will proceed to the toppings bar, where they can select from a […]
Continue readingWhat internal controls might have prevented a Sea World guest relations supervisor from voiding tickets and pocketing more than $116,000?
June 21, 2016 0 Comments
A guest relations supervisor at SeaWorld’s Aquatica waterpark in Orlando, Lisa Olivardia, would void ticket sales and put the cash in white envelopes that she then put in her pocket. Investigators estimate that she stole between $55,000 and $75,000 each year from 2013 – 2015. Her voided transactions were about triple the rate of her […]
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