Tag Archives: financial accounting

What internal controls might have prevented an Anderson Community School bookkeeper from stealing more than $1 million?

The Anderson Community School Corporation hired Carla Burke in 1998 and then made her the food service department bookkeeper in 2006. She worked as the bookkeeper until she retired in 2019. Burke was responsible for maintaining the records for the school lunch fund. She reconciled the bank account, maintained vendor invoices, prepared checks to send […]

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What closing entries would Wendy’s have made in 2021 based on its trial balance?

The Wendy’s Company (NASDAQ: WEN) is a fast-food chain and is a publicly held corporation. Wendy’s fiscal reporting periods consist of 52 or 53 weeks ending on the Sunday closest to December 31. Wendy’s 2021 fiscal year ended January 2, 2022, and its 2020 fiscal year ended January 3, 2020. To follow is a condensed […]

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What are the fiscal year ends of Walt Disney, Carnival Corporation, and Royal Caribbean Cruises, and others?

A calendar year runs from January 1 to December 31 each year.  Companies are allowed to select a fiscal year that is different from the calendar year, which means not all companies’ financial statements cover the calendar year of January 1 through December 31. Here is a list of a variety of companies and their […]

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What information can be calculated from Wendy’s 2021 trial balance?

The Wendy’s Company (NASDAQ: WEN) is a fast-food chain and is a publicly held corporation. Wendy’s fiscal reporting periods consist of 52 or 53 weeks ending on the Sunday closest to December 31. Wendy’s 2021 fiscal year ended January 2, 2022, and its 2020 fiscal year ended January 3, 2020. To follow is a condensed […]

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What information is provided in Chipotle’s basic 2021 financial statements?

Chipotle Mexican Grill, Inc. (NYSE: CGM) is a publicly held corporation with more than $6 billion in assets. To follow are Chipotle’s four basic financial statements for its most recent year, the year ending December 31, 2021.  Please note that all statements have been adapted and condensed for educational use and should not be used […]

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A financial statement analysis mini-dashboard for a quick data analytics exercise

Looking for a quick data analytics exercise for financial statement analysis in an introductory accounting class? You can give your students the link for this financial statement analysis dashboard and then ask a series of questions. There is no software for students to install; the dashboard is hosted on Tableau Public and can be accessed […]

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How does Amazon’s stock buyback impact its earnings per share and balance sheet?

In March 2022, Amazon’s board of directors authorized it to buy back up to $10 billion of its stock. The stock buyback will take place over a multi-year period. Amazon may not buy back the full $10 billion of its stock; the board’s authorization is simply the maximum amount of stock that can be repurchased. […]

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How does Nordstrom’s dividend announcement impact its balance sheet?

Nordstrom, Inc., is a luxury department store chain headquartered in Seattle, Washington. It was founded in 1901 as a shoe store. It would begin selling clothes more than sixty years later in 1967. Its stock ticker symbol, JWN, represents the initials of Nordstrom’s founder, John W. Nordstrom. Nordstrom had a history of declaring dividends regularly […]

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How will Chipotle recognize the costs of Chippy, its tortilla-chip-making robot?

Chipotle is currently testing Chippy, a robot that makes tortilla chips. Chippy makes the chips less than perfect so that they appear to be made by a human. Customers are used to finding a chip with a little more salt or a little extra lime, so Chippy is making those subtle variations in the chips. […]

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How will the $2 billion bond issuance by the University of Michigan impact its balance sheet?

The University of Michigan issued $2 billion in bonds in March 2022. The proceeds from these bonds will be used to finance construction and renovation projects on the campus. $1.2 billion was issued as century bonds, which must be repaid in 100 years. This century bond issuance is the largest century issuance in the higher […]

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