Accounting
Accounting Articles
FRom AAO Weblog Bowater, the newsprint producer, corrected a collection of previously-considered immaterial errors it was carrying on its balance sheet, noted in its 10-K filing. As has been noted in...
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From AAO Weblog GATX Corporation, the financial and leasing outfit, made a SAB 108 “cumulative adjustment” type of correction to its beginning 2006 retained earnings, noted in its 10-K filing....
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From AAO Weblog When you think of SAB 108 adjustments, you naturally expect a cut to retained earnings. But not all of the SAB 108 catch-up adjustments carry a sting. Take Deltic Timber, for...
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A crucial point may be getting lost in the shuffle in the XM/Sirius (XMSR-SIRI) merger approval process. Both of these companies NEED the merger in order to survive as they stand today. We took a...
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By William Trent, CFA of Stock Market Beat Small Cap Watch List member CSG Systems (CSGS) issued its 10K last week. We haven’t had a chance to review it thoroughly, but did notice some comments...
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From AAO Weblog CSG Systems filed their 10-K last week, and mentioned the effect of SAB 108 on their financials. But it’s a bit hard to piece together what they meant.First, this mention of SAB 108...
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Take-Two Interactive (TTWO) is seeing a strange issue today because of a Schedule 13D filing with the SEC on behalf of shareholders. A group of shareholders have banded together and are going to...
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From AAO Weblog Remember the wave of lease restatements from early 2005? That was when a letter from then-chief accountant Don Nicolaisen triggered re-examinations of lease contracts and accounting...
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UnitedHealth (UNH-NYSE) has finally become current in its SEC Filings as of this morning, but this shouldn’t be that big of a surprise. The company did go back and restate earnings over stock...
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From AAO Weblog Albany International, the paper manufacturing equipment maker, published its 10-K last Thursday, and revealed a Staff Accounting Bulletin No. 108 adjustment that was unique in that it...
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From AAO Weblog Great article by Steven Taub at CFO.com on Glass Lewis’ annual study on restatements. Link here. Key points: in the aggregate for 2006, restatements are up – way up. According to...
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From AAO Weblog Make that “stock comp error correction treats shareholders well.” Ah, no. More descriptive, but lacks punch. WestAmerica Bancorporation filed its 10-K yesterday, and revealed a...
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Usually when a 10-K (Annual Report) filing comes out, the first thing traders peer at is the ‘Legal Proceedings’ section and the ‘Auditor notes’. Particularly of note, they look for phrases...
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From AAO Weblog In its 10-K filed last Thursday, sneaker maker K-Swiss presented its clean-up adjustment of payroll withholding taxes: “In 2006, we determined that there was an underpayment of...
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Majesco Entertainment (COOL-NASDAQ) may have a very hard time surviving if it can’t find a way to recapitalize. It recently added Gui Karyo, former president of Marvel (MVL) publishing, as VP...
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