Questions from General Accounting

Q: Yardley, Inc., is a mid-size company in Oklahoma

Yardley, Inc., is a mid-size company in Oklahoma City. It has been struggling the past few years because chemical products it uses in its agricultural production process increasingly have been deemed...

Q: Another ethical dilemma deals with a runaway trolley heading for five railway

Another ethical dilemma deals with a runaway trolley heading for five railway workers who will be killed if it proceeds on its present course. The only way to save these people is to hit a switch that...

Q: Do you think it would be ethical for a CPA to have

Do you think it would be ethical for a CPA to have someone else do for her that which she is prohibited from doing by the AICPA Code of Professional Conduct? Why or why not? Do you think a CPA can jus...

Q: Sue Kolb has been associated with Valley View Hospital in Highlands Ranch

Sue Kolb has been associated with Valley View Hospital in Highlands Ranch, a small town in Colorado. Kolb is a CPA licensed in Colorado and handles the hospital’s financial affairs; she climbed the la...

Q: How does one go from whistleblower to being charged by the SEC

How does one go from whistleblower to being charged by the SEC for participating in a scheme from mid-2000 to mid-2002 to overstate online revenue through round-trip transactions over two years while...

Q: In a bizarre twist to a bizarre story, on October 22

In a bizarre twist to a bizarre story, on October 22, 2013, Deloitte agreed to pay a $2 million penalty to settle civil charges—brought by the Public Company Accounting Oversight Board (PCAOB)—that th...

Q: Ethan Lester was seen as a “model employee” who deserved

Ethan Lester was seen as a “model employee” who deserved a promotion to CFO, according to Kelly Fostermann, the CEO of Fostermann Corporation, a Maryland-based, largely privately held company that is...

Q: The Groupon case was first discussed in Chapter 3. Here,

The Groupon case was first discussed in Chapter 3. Here, we expand on the discussion of internal controls and the risk of material misstatement in the financial statements. Groupon is a deal-of-the-d...

Q: The story of ZZZZ Best is one of greed and audaciousness.

The story of ZZZZ Best is one of greed and audaciousness. It is the story of a 15-year-old boy from Reseda, California, who was driven to be successful, regardless of the costs. His name is Barry Mink...

Q: Bill Stanley, of Jacobs, Stanley & Company, started to

Bill Stanley, of Jacobs, Stanley & Company, started to review the working paper files on his client, Imperial Valley Community Bank, in preparation for the audit of the client’s financial statements f...