Uniqlo, a Japanese clothing designer, manufacturer, and retailer, is installing vending machines in some airports and shopping malls in the U.S., including Oakland Airport (San Francisco), George Bush Intercontinental Airport (Houston), and Queens Center (New York.) Uniqlo’s thermal jackets and parkas, which are thin, warm, and easily packable, are going to be stocked in the […]
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Tag Archives: cost of goods sold
8 revenue recognition exercises for introductory financial accounting featuring LL Bean
August 4, 2016 
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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 readingHow does the SEC allege that Diamond Foods fraudulently increased earnings?
February 19, 2014 0 Comments
Diamond Foods produces and markets Emerald snack nuts, PopSecret popcorn, and several other snack brands. The Securities and Exchange Commission (SEC) recently charged Diamond and two of the company’s former executives (the CEO and the CFO) with misleading investors by fraudulently manipulating income (see “Diamond Foods to Pay $5 Million to Settle SEC Fraud Charges,” […]
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Accounting in the Headlines 