Posted by & filed under Accounting Principles, Student life.

Description: Zeynel Ari said that the time it took him to walk from a parking lot, into his bank, then back to the lot, was all the time it took for thieves to grab his vehicle. Car theft rings are getting better at their illegal craft, with the number of stolen vehicles in Ontario rising for five straight years. One secret to their success has been adopting technology that lets them steal electronic key fob signals from unsuspecting motorists, opening the door and the ignition to these unwelcome intruders.

Date: November 14, 2022

Source:  cbc.ca

 Link: https://www.cbc.ca/news/canada/toronto/top-10-stolen-cars-ontario-2021-1.6649053

Discussion points:

1) How many of your classmates drive one of the “top ten” cars mentioned in this article? How many have had a theft or break-in?

2) What do you think are some of the best measures to prevent a theft or break-in of an automobile?

3) In chapter 9 of Wiley’s Financial Accounting: Tools for Business Decision-Making we learn about derecognition of property, plant, and equipment (see section starting on page 9-18). What are the four steps involved in disposal? How might these be impacted by the theft of a vehicle?

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