Accounting
Accounting Articles
Blockbuster’s (BBI) auditors gave the company a “going concern” letter which is often a kiss of death. The document is a way for the accounting firm to say the operation is unlikely to make it...
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First Solar, Inc. (NASDAQ: FSLR) has completed its acquisition of OptiSolar’s photovoltaic project pipeline. The company said that it expects to construct the solar power plants developed under...
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The Financial Accounting Standards Board, or FASB, has voted to loosen its rules for the (now dreaded) balance sheet act of mark-to-market valuation for accounting. Many will argue that this is...
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This might be a record year for auditor “going concern” notes being included in annual report filings with the SEC. If it isn’t a record, it sure feels like it. This note in an annual report...
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DryShips Inc. (NASDAQ: DRYS) is trading down hard today on a note from the accountants. The company’s auditors have a “going concern” noted in the annual report on the company’s Ocean Rig...
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We are still seeing many auditor notes containing a “going concern” doubt about companies and their ability to continue operations without added funding or business changes. Last week,we...
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“Never underestimate the capacity of angry populism in times of economic stress,” – Robert Reich, The New York Times, March 15, 2009 The profligate investment practices of the financial sector...
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We are still in the midst of “annual report season” as companies have been submitting their 10-K filings with the SEC. Or in some cases delaying those filings. There is one theme that has been...
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If there is one phrase that a company does not want to see in its annual report, it is “GOING CONCERN.” This hinges on a company’s ability to operate financially as a viable business. March...
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GM’s (GM) auditors expressed doubt that the car company will remain a “going concern.” Accountants often offer these opinions. They don’t usually mean much. If GM gets $100 billion from the...
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Apple Inc. (NASDAQ: AAPL) has taken an interesting action. It could be a completely harmless one, but in today’s climate it could raise some eyebrows. The company has changed auditors. Want to...
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The proposed budget that the Administration released yesterday runs 184 pages, if the sections called “Notes”, which are blank pages for calculations and thoughts, and the order page where...
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It is always heartening to hear the British describe a disaster. Their cool makes it seem as though almost nothing had happened. In the UK, shares of Lloyds shed a third of their value after it...
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Robert Rubin, former Goldman Sachs (GS) chief, Treasury chief, and lead director at Citigroup (C) should have been flying to Washington once a week last year. He could have thundered about bank...
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Time Warner (TWX) wrote down the value of many of its assets yesterday. The same has happened with many companies which own newspaper and TV assets. The trend is also moving to manufacturing and...
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