Send a Tweet
Most Popular Choices
Share on Facebook 3 Share on Twitter Printer Friendly Page More Sharing
Life Arts   

Fantasy Math Is Helping Companies Spin Losses Into Profits

Quicklink Submitted By     (# of views)   3 comments, 7 series
Author 40790
Follow Me on Twitter     Message Susan Lee Schwartz
Become a Fan
  (24 fans)


(Image by torbakhopper)   Details   DMCA
 

Companies, if granted the leeway, will surely present their financial results in the best possible light. Regulations still require corporations to report their financial results under accounting rules. But companies often steer investors instead to massaged calculations that produce a better outcome. And of course they will try to persuade investors that the calculations they prefer, in which certain costs are excluded, best represent the reality in their operations.  Call it accentuating the positive, accounting-style.  What’s surprising, though, is how willing regulators have been to allow the proliferation of phony-baloney financial reports and how keenly investors have embraced them. As a result, major public companies reporting results that are not based on generally accepted accounting principles, or GAAP, has grown from a modest problem into a mammoth one.

Read the rest of the story HERE:

At www.nytimes.com

 

- Advertisement -

News 2   Valuable 2   Interesting 1  
Rate It | View Ratings

Susan Lee Schwartz Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

I began teaching in 1963,; Ba and BS in Education -Brooklyn College. I have the equivalent of 2 additional Master's, mainly in Literacy Studies and Graphic Design. I was the only seventh grade teacher of English from 1990 -1999 at East Side (more...)
 

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
Name
Email
   (Opens new browser window)
 

Other Series: View All 568 Articles in "lies & propaganda:: the rant"

Other Series: View All 256 Articles in "our society changes for the worse"

Other Series: View All 818 Articles in "Public ignorance & those who use this"

Other Series: View All 638 Articles in "Shameful"