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The Accounting Podcast
Macy's Thanksgiving Accounting Mystery
Dec 2, 2024
Delve into the mystery surrounding Macy's astonishing accounting scandal, where an employee allegedly hid up to $154 million through dubious entries. The discussion explores the implications of this fraud on the company's finances and stock, alongside the ethical responsibilities of auditors. The hosts also dissect Trump's proposed tariffs on imports, predicting significant economic impacts on consumers and businesses. With a blend of humor and insightful analysis, they reflect on the intersection of accounting, technology, and current events.
01:07:16
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Quick takeaways
- Macy's accounting scandal, involving a concealment of $132-154 million by an employee, highlights severe flaws in corporate governance and internal controls.
- Trump's proposed tariffs, including a 25% charge on imports from Mexico and Canada, pose potential price increases that could adversely affect American consumers and businesses.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode