Oct 28, 2020 | Accounting Topics, General, News
Two senior executives, CEO Ramachandran Ottapathu and Executive Director Ismail Farouk, at Botswana supermarket chain Choppies Enterprises Ltd. are suing former auditors PwC for 653 million rand (~$40 million) for not signing off on the company’s 2018 accounts, which...Sep 3, 2020 | Accounting Frauds, Accounting Topics, General, News
The Wirecard fraud has cost EY a new customer! Deutsche Bank’s asset-management division, DWS, that went public in 2018 has decided to no longer use EY as its auditor. The reason being that DWS is concerned about getting involved in the potential lawsuits against the...Jul 13, 2020 | Accounting Topics
Recently I was involved in a stock repurchase and wanted to share my understanding. A couple of scenarios: An ex-employee had exercised her options a few years ago, company decides to buy back the stock at a price higher than what the employee paid. How do we account...Sep 18, 2017 | Accounting Topics
The delivery company, DX group’s woes worsened as the company announced a £1.8M hit on their financial statements ending June 30th. The issue was that the company incorrectly applied the accounting related to lease incentives on one of its sites. The lease...Jul 29, 2016 | Accounting Topics
Someone recently asked me whether I knew about consolidations. That gave me an idea, why not write about what I know about consolidations, so here we go. Consolidations means combining multiple entities financials into one combined financial. Two questions come up...