Under Armour shares crater on accounting probe, slashed 2019 revenue outlook
www.cnbc.com/2019/11/04/under-armour-uaa-earnings-q3-2019.html Earnings per share: 23 cents vs. 18 cents expected *Revenue: $1.43 billion vs. $1.41 billion expected
accounting
Goldman Sachs cuts Apple, predicts 26% stock drop on TV+ accounting
POINTS Goldman Sachs cut its price target for Apple’s stock to $165 a share from $187, making the firm’s expectation for Apple the lowest of the major Wall Street banks, … Read more
How broke most US states really are and the accounting they use to hide the fact
by Jim Dey Wow — calling the lying swine in state Comptroller Susana Mendoza’s office lying swine really got their back up. Who knew? They should take it as a … Read more
Did the Obama administration commit ‘the biggest accounting fraud in history’ with student loans? Experts weigh in
The Wall Street Journal’s editorial board (WSJ) recently suggested that the Obama administration pulled off “the biggest accounting fraud in history” with student loans when eliminating the role of private lenders in … Read more
Warren Buffett comments on GE’s accounting and debt, and explains why Berkshire Hathaway sold all its GE stock
by nooorol YouTube video of Buffett talking about GE’s problems: The Markopolos report is essentially quantifying these problems and showing that they are far more serious than previously believed Read … Read more
Accounting expert who raised red flags about Madoff has new target: GE… ‘Bigger fraud than ENRON’
An accounting expert who raised red flags about Bernie Madoff ’s Ponzi scheme has a new target: General Electric Co. GE -3.42% In a research report posted online Thursday, Harry Markopolos alleges the struggling … Read more
Fake Cash & Fake Accounting: Chinese Regulators Suddenly Halt 46 IPOs and Bond Offerings
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter The companies are clients of China’s 2nd largest audit firm, now under investigation. On Monday, Jinhe Biotechnology and Liande Automatic Equipment disclosed in filings that they … Read more
Uber and Lyft’s accounting both define drivers as customers, not passengers, and this definition increases their sales $ by over 10%
From Wall Street Journal: Uber and Lyft each provide substantial discounts and incentives to riders, which subsidize the cost of trips and encourage usage. But they don’t account for these amounts … Read more
Accounting “forensics” show that Chinese GDP growth from 2008-2016 is 1.7pp lower and investment and savings rate in 2016 is 7pp than what was officially reported.
via brookings: DOWNLOAD Download the conference draft » ABSTRACT China’s national accounts are based on data collected by local governments. However, since local governments are rewarded for meeting growth and investment … Read more
Catherine Austin Fitts – Federal Accounting Now Meaningless & Frightening , World Choking On Debt – Buy Gold
What is investment advisor and former Assistant Secretary of Housing Catherine Austin Fitts looking to put money in? She has long been lukewarm on gold, but not any longer. Fitts … Read more
Fund Manager: More Accounting Games At Amazon
by Dave Kranzler of Investment Research Dynamics On January 31st, Amazon reported an expected “beat” for Q4 revenue and net income. After the headline report hit the tape, the stock soared $59 to … Read more
CNBC: A big change in accounting will put $3 trillion in liabilities on corporate balance sheets
via CNBC: A big change in lease accounting rules effective Jan. 1 requires companies to record operating leases on their balance sheets. Operating leases include everything a company rents to … Read more
Record Defaults by Chinese Companies: Fake “Cash” & Fake Accounting
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Painful moment of truth for banks & investors. “Uncertainty over the accuracy of the companies’ books and disclosure of pertinent information”: Fitch Ratings. Defaults by Chinese … Read more
Pentagon corrects $331mn ‘accounting error,’ bills Saudis & UAE for refueling jets bombing Yemen
The Pentagon is clawing back hundreds of millions of taxpayer-subsidized dollars it gifted to Saudi Arabia and the UAE over a three-year period, when it ‘accidentally’ refueled their aircraft for … Read more
John Adams: Global Elites Use Accounting Trickery To Hide At Least $20 Trillion (USD) Of Debt
by John Adams of Adams Economics The real position of the global economy and of the current global debt bubble is currently hiding behind a mask of accounting and legal trickery. During the … Read more
Publicly Traded Companies Are Using Alternative Accounting Metrics To Avoid Reality
Francine McKenna interviewed by Jason Burack on Wall St For Main St Jason Burack of Wall St for Main St interviewed first time guest, forensic accountant and transparency reporter at MarketWatch.com, a Dow … Read more