Search

The article discusses the ruling of the U.S. Court of Appeals for the Second Circuit regarding the Mitsui Sumitomo Insurance Co. Ltd. v. Evergreen Marine Corp. court case. It presents a case wherein Mitsui Insurance Co., the plaintiff, sued Evergreen Marine Corp. and Union Pacific Railroad Co. for the loss of shipment of motors and other parts which were purchased by Asmo North Carolina Inc. It relays that the Second Circuit did not conform to the previous ruling of the U.S. District Court for the Southern District of New York which decided that the Carmack Amendment governed the rail shipment and granted summary judgment in favor of Mitsui.

With the expanding body of knowledge that constitutes generally accepted accounting principles, educators are faced with a crucial problem in terms of flow to cover the essential material in the intermediate accounting series. This paper reports the results of a questionnaire distributed to the member schools of the American Assembly of Collegiate School of Business to determine the ways in which schools are presently handling intermediate accounting. Issues covered include number of contact hours, number of courses, textbooks, supplemental material, subject matter and computer usage. Preference of educators on how to handle these areas of concern are discussed as well as what to do with the intermediate accounting series if the content is to stay the same. [ABSTRACT FROM AUTHOR]