by Sean Welsh
Discusses the recent changes to the size and structure of FASB. Looks at the differences between old and new FASB, as well as the causes for the switch and the reactions to it. FASB Overhaul
Archive for the 'Current Events Podcast' Category
by William Wirthman
With the economy struggling, one industry that has greatly suffered is the airline industry. This podcast discusses the potential fallout from the bankruptcy of three low cost airliners. Though the news is still very recent and time will tell what directions this industry must take to survive, it is not too early to try an identify the cost factors and economic situation which caused thousands to lose their jobs and stranded thousands more passengers.
by Chris Taft
Award Nominee
Todays accounting word is constantly changing and new issues are arising. This Podcast will explore the 6 top issues with respect to 6 different CPA’s. We will cover topics ranging from dealing with change, accounting information systems, Public and Private firms, Commercial and Federal Contracting, and even touch on the subject of sub-prime loans. So sit back and enjoy the show.
by Oliver TenHoeve
The upcoming presidential election has investors worried about changes in tax rates. The ability to defer capital gains taxes in a 1031 exchange has been beneficial to the U.S. economy as it encourages further capital investment. However, if the tax rates shoot up from the current 15%, investors may pull their money from the market, furthering the downturn in the housing market. The following podcast will highlight the 1031 exchange policy and its impact on the housing market.
1031-exchange.m4v
By Mariano Harari
Very often the average investor is fooled into believing something a source like the Wall Street Journal says. However, as students of accounting at the University of Richmond, we have learned to make our own interpretations of what is really going on. A perfect example of this can be illustrated by analyzing an article published on the WSJ about a month ago regarding General Motors and their catastrophic losses last year. From simply reading the article, we are influenced to believe that General Motors did terrible last year. Even though they were in the red, they were not nearly as bad as the article made them out to be. What the author had missed is that General Motors has turned 38 billion dollars of deferred taxes into an allowance account, which caused an immediate loss that year. As we know from studying deferred taxes, this is not nearly as alarming as if the 38 billion loss had come from operational activities. Therefore, this example of General Motors provides a perfect illustration of a current event that is being misinterpreted by the average investor, while ,we as students of the University of Richmond, are able to truly see what is going on.
by Christine Ghio
In addition to causing much angst among real estate professionals and those looking to sell their homes, the recent mortgage fallout has greatly affected the nation’s top banks. In response, bankers have turned to the nation’s accountants and have urged the Securities Exchange Commission to reconsider various regulations surrounding asset valuation. This podcast will take a closer look at the bankers’ criticism of current valuation requirements as laid out by FASB and alternative strategies for valuation and risk/liquidity management. acct-305-podcast-project-2.m4v
by Katherine Snell
Identity theft is the fastest growing crime in the United States. Thousands of Americans are finding themselves victims of identity theft every year. Tax-related identity fraud cases are especially increasing, resulting in the delay or complete denial of tax refunds for many people. Identity Theft
by Lauren Pryor
AWARD WINNER - Current Events
The notion of environmental accounting has existed for years, but recently many business schools and corporations have officially embraced the idea of “green” accounting. By taking into consideration environmental costs and impacts, managerial accountants can provide more accurate and comprehensive information to managers for decision making purposes. This podcast addresses the rationale behind environmental management accounting, the way the system works, and the potential benefits of implementation.
by Ryan Wentling
Award Nominee
Jerome Kerviel was a junior trader at Societe Generale, France’s second largest bank. This quiet man bet $74 billion on European stock market indexes, which was 50% more than the company was worth. In the midst of a market plunge, Societe Generale sold the shares at a loss of $7.2 billion. Kerviel, for the time being, will be known as the architect of the largest trading scandal ever. I will discuss this scandal’s relation to accounting, including tax, auditing, and financial reporting.
by Elissa Yorgey
Award Nominee
The subprime mortgage crisis is affecting many people across many areas of the economy, especially consumers, realtors, and banks that offer mortgages. Find out how these entities deal with accounting issues that surface due to refinancing mortgages. Also gain an understanding of how accounting standards and rules may be changed in the future as a result of these issues.
