Description: It’s always nice to be prepared for that job interview, whether you are talking about next summer’s internship, a part-time job during the school year, or looking ahead to life after graduation. This week’s article tells us of some fascinating methods executives are using to help figure out if you’re the employee they are looking for. One CEO tells interviewees everything that’s wrong with the company, telling potential employees not to take a job there, all in an effort for honesty and getting the interviewees to be open as well.
Date: September 11, 2019
1) Are you thinking yet about preparing for job interviews for internships or your post-university work? If so, what are some things you have been doing?
2) In Chapter 3, page 106 of Wiley’s Financial Accounting: Tools for Business Decision-Making , we read about the process of analyzing transactions. Recruiting employees is very important to a business. How would you analyze the recruiting of a new employee using the process in Illustration 3-1?
3) What is the strangest interview question you have ever been asked?
Description: Friday Samsung launched its new foldable smartphone. The Galaxy Fold is available in South Korea right now, but within a couple of weeks you can find one in France, Britain. Samsung wanted to have the phone on the market months ago, but tech reviewers found a number of issues with the foldable screen.
Date: September 6, 2019
1) Are you thinking of a foldable phone for your next upgrade?
2) If you were asked to calculate the economic impact of the delay in releasing the Galaxy Fold, what might be some of the things you would look at?
3) In chapter one of Wiley’s Financial Accounting: Tools for Business Decision-Making , we learn that one class of assets a company can own is called “Intangible Assets.” What might be an example of an intangible asset that Samsung could have for its new foldable phone?
Description: You may have heard of the marvels of AI. Be careful though, as a story this week revealed how someone used AI to fake a boss’s voice. The fake voice told an employee to transfer 220,000 Euros into a secret account. Ouch. That introduces a whole new element of risk for companies in terms of protecting their own assets. This type of deep-fake voice fraud is apparently relatively easy to do with the right technology.
Date: September 6, 2019
1) What do you think a company could do to protect itself from this type of deep-fake?
2) If you received a call like this, and it sounded like your boss, would you transfer the money?
3) Page 369 of Wiley’s Financial Accounting: Tools for Business Decision-Making tells us about the limitations of internal control. Which of the four limitations listed on page 369 may have been involved in the loss of the 220,000 Euros?
Description: You may have noticed this – 81,000 new jobs were created in in August in Canada. A high number of the jobs were in the service sector and were secured by young Canadians. The unemployment rate of 5.7% is close to its lowest level in 40 years.
Date: September 6, 2019
1) Would you or any of your class mates have benefitted from the August job surge?
2) Do you work part-time during the school year? How do you fit it into your schedule?
3) In Wiley’s Financial Accounting: Tools for Business Decision-Making you can read about accounting for Employment Benefit Expense (see pages 528-9). In a situation where employment is increasing, what would you generally expect would happen to this expense?
Description: You may not have heard of micro plastics. These tiny bits – less than a fifth of an inch long – float around in the air of our major cities, cast off from the ubiquitous plastic we see daily. In an effort to find out how far these particles might drift, researchers visited snow fields in the Pyrenees in France. The shocking finding: each square meter received 365 micro particles per day. Ouch.
Date: April 15, 2019
1) What did you find was the most surprising statement in this article from Wired?
2) If you were advising a company that was trying to audit the impact of its plastic pollution as part of its sustainable development strategy, what might be some of the audit procedures you could suggest?
3) In the vignette at the start of chapter four of Wiley’s Financial Accounting: Tools for Business Decision-Making you can read a bit about accounting practices in a major Canadian university. If a university researcher received a grant to study something like plastic pollution, how would the university treat any grant funds received that had not yet been expended by the researcher?
Description: About three years ago this space covered the social-media backlash against Loblaw when they tried to delist French’s ketchup. Canadians rallied to support French’s, a company that reopened a padlocked plant in Leamington, Ontario, after ketchup giant Heinz pulled out of town. Canadians seem to be liking what they are tasting from French’s, indicating that longer-term success can’t just come from a social media victory. Of course, even though Heinz appears to have lost market share to French’s, it is still well out in front for the overall lead in the category.
Date: April 20, 2019
1) Which ketchup is in your fridge? Would you switch to French’s because of the “support Leamington” angle?
2) If you were advising French’s on strategy, how do you think you might respond to Heinz’s new television commercial campaign?
3) In Chapter 5, page 242, of Wiley’s Financial Accounting: Tools for Business Decision-Making you can see a bit more about the French’s success story. Read how this caused a problem for some stores running out of stock of French’s. How can a company deal with the sudden surge in demand caused by social media posts?
Description: This past Thursday, the S&P/TSX composite index hit a new high at 16,612.81 points. Some believe that recent hints that interest rates won’t be rising may have contributed to this new high point. Rising oil prices may also have helped fuel the optimism. Since its low point in December, the market has soared over 20%.
Date: April 18, 2019
1) What do you think has had the most influence on the rising stock market these past few months?
2) Does your university have an investment club or a course where you can more actively engage in market-watching?
3) Read about the Price-Earnings Ratio on page 71 of Wiley’s Financial Accounting: Tools for Business Decision-Making. In the current market conditions, what do you see happening to Price-Earning Ratios? What other information might you need to give a better answer to this question?
Description: Your federal government has decided to hand out approximately $12 million of our tax dollars for more efficient fridges: the problem Canadians are having with that is that the cheque is going to Loblaw, Canada’s largest grocery chain. Oh, did I mention Loblaw made about $800 million last year? To be fair, Loblaw did win a competitive bid process to come up with the cash, and improving the refrigeration will give the same carbon reduction as taking 50,000 cars off of the road. But for the average Canadian who may have just repaired their own fridge because they couldn’t afford a new one, it may seem like a bit too much.
Date: April 9, 2019
1) Were you aware of this part of the federal government’s carbon reduction plan?
2) Do you think this type of financial incentive should be given to large corporations to encourage sustainable development?
3) In Appendix B of Wiley’s Financial Accounting: Tools for Business Decision-Making you can see specimen financial statements for Loblaw’s major competitor Sobeys. If Sobeys were to receive a similar amount of aid for their fridges, what parts of the financial statements would change?
Description: A new report from the Organization for Economic Co-operation and Development (OECD) concludes the middle class is shrinking. Even worse for Canada, our middle class seems to be faring a bit worse than those in other nations studied. As noted by OECD’s chief of staff, Gabriela Ramos, “The middle class is at the core of a cohesive, thriving society. We need to address their concerns regarding living costs, fairness and uncertainty.”
Date: April 11, 2019
1)Were you aware of the declining middle class phenomenon noted in this story? As you look ahead to your graduation, does this story impact how you plan for the future?
2) What can our political and business leaders do to address the issue? Can the accounting profession play a role in accomplishing important changes here?
3) One of the things we read about in the article is the impact of education costs. In Wiley’s Financial Accounting: Tools for Business Decision-Making we see a reference to the University of Calgary Students’ Union. What type of action can our various student unions take to address these important education costs matters?
Description: You may find your voice doing funny things when you read this story: there’s a shortage of helium. This gas, that can change the pitch of your voice of course, is in short supply, and not for the first time. That bad news hits far more than those wanting inflated balloons. Helium gas, produced as part of the natural gas refining process, is used for many things, including semi-conductor manufacturing, scientific experiments, and for operating MRI machines.
Date: April 9, 2019
1) Have you heard about the helium crisis? Have you ever experienced it personally in any way? For instance, have any of the science labs at your school had shortages?
2) Do you think this type of shortage should be dealt with by the price incentives of supply and demand? Or, because of the medical and research benefits, do you think the government should intervene in the market in some way?
3) On pages 317-318 of Wiley’s Financial Accounting: Tools for Business Decision-Making you can read about the Lower of Cost and Net Realizable Value rule. Would you expect companies holding inventory of helium to have any write-downs in the near future?