by Ken Urish
27. December 2011 15:37
As we witnessed recently in the buildup to Groupon’s IPO, the manner that revenue is recognized is a critical accounting issue. In Groupon’s case, they were forced to restate their financial statements. Revenue recognition has been the cause of audit failures and the focus of cor...
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by Hiller Hardie
27. December 2011 15:25
As noted by The Wall Street Journal on November 30, the number of financial statement restatements at large US companies had declined for the 5th year in a row. Restatements spiked upward significantly in the initial years of Sarbanes Oxley implementation (2004-2005). This was due largely to the inc...
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by Kip Kuzior
27. December 2011 15:05
Current IRS Commissioner Doug Shulman has indicated that he wants to create a real-time tax system. That’s…umm…a great idea.
If you have corresponded with the IRS via phone calls or through the USPS, you obviously know that their response time is painfully slow.&...
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