By: Les Heitger When my lovely granddaughter Allyson was 4 years old, I took her to the mall where she found a Minnie Mouse doll she really wanted. Knowing her bed was full of stuffed animals, I said, “Maybe we should think about it and come back later.” She looked at me with her beautiful eyes and sweet smile and asked, “Why, Grandpa? Does it cost too much?” As you probably … [Read more...] about Bears Business Brief: Grandpa, does it cost too much?
In an earlier article, we discussed the essential role that financial accounting reports play in supporting capital markets and facilitating a healthy economy. In this article, we address the second major function of accounting systems. Managerial accounting is focused on providing internal managers of businesses the essential information they need to effectively manage each … [Read more...] about bears Business Brief: The case for accounting, continued
By: Les Heitger Accounting is sometimes called the “language of business,” implying that in organizations there would be little effective communication of financial information without it. Because all organizations (both for-profit and not-for-profit) operate with limited resources, it is essential for them to understand the financial consequences of what they do. Of … [Read more...] about Bears Business Brief: The case for accounting: Part 1
By: Les Heitger In last week’s article I discussed the importance of understanding the significant risk of fraud that all organizations face. Ignoring fraud risk enhances the chance it might occur and reduces a company’s ability to detect it in a timely manner. Understanding that fraud risk is a major business challenge is typically not sufficient to prevent or detect … [Read more...] about Bears Business Brief: Fraud prevention/detection: Fact and fiction
Two faculty members were selected to receive the Daisy Portenier Loucks Research Fellowship for 2014-2015: S. Brahnam, professor in the Computer Information Systems department Ed Chang, professor in the Finance and General Business department This fellowship is awarded annually to one or more COB faculty members who are among the top producers of discipline-based … [Read more...] about Faculty and Staff Spotlight