Xerox

Dec 28, 2007 | Accounting Frauds

In April 2002, SEC files a complaint against Xerox alleging that Xerox used accounting tricks to deceive public from 1997 to 2000. Over this period Xerox improperly classified over $6 billion in revenue, leading to an overstatement of earnings by nearly $2 billion.The...

The business model behind .cm websites

Jul 9, 2007 | General

Ever wondered what happens when we type a website name ending in .cm instead of .com. Well this is what happens. The .cm country code is owned by Cameroon. Not many websites are registered in the country. But the similarilty of .cm with .com makes it a big business...

The Social Security crisis

Jun 9, 2007 | General

Over the past few months, a lot has been said about the future of Social Security. And most of it is not very pleasant. Most of us are wondering whether we will be able to reap the benefits of our Social Security in our old age. Reading an article recently I found...

Gender Discrimination in Inflation rates!!!

Mar 12, 2007 | General

The inflation rate for women is higher than that for men. The Consumer Price Index for products catering to women (jewellery, clothing, shoes, cosmetics, household appliances) is higher than for products targeting men. Year over year inflation rate in the US, for...

Exxon Mobil does it again

Feb 1, 2007 | Uncategorized

In the year 2005, Exxon Mobile reported annual income of $36B, becoming the top earner in the history of the American corporate world. Well they did it again, the annual income of Exxon Mobil for 2006 was $36.5B. The 4th quarter results were lower than expected by 4%,...

What are XBRL taxonomies?

Jan 31, 2007 | XBRL

XBRL Taxonomies,are the dictionaries which the language uses. Each item of data are identified by a specific tag, taxonomies are the categorization schemes that define these tags. Based on the accounting regulations these taxonomies might change. So different...

How XBRL works?

Jan 28, 2007 | XBRL

Under XBRL every financial data has its identifying tag, which is computer readable. SO instead of having data as text, it is stored as a tag. Computer can read it, store it, analyze it, and present it in different forms. It will make not just intra company analysis...

Who is creating XBRL?

Jan 28, 2007 | XBRL

An international non-profit consortium of approximately 450 major companies, organizations, and government agencies is working on XBRL. It is an open standard, free of license fees.

What is XBRL?

Jan 28, 2007 | XBRL

eXtensible Business Reporting Language, is a language to communicate the financial data of an organization. It is a process of creating a standard platform/format for reporting. XBRL is a member of the family of languages based on XML, or Extensible Markup Language,...

Vishing for another security threat

Jan 16, 2007 | General

  Now that we have stopped replying to those phishy emails from someone potraying to be our banks, well here comes vishing. Its a new form of security threat we need to safeguard ourselves against. This time around its not about clicking on a link its about...