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December 3, 2022

Footnotes: Making Money Off Funny; Downward Facing Tax Trouble; Women Say Goldman Sucks | 07.02.14

How To Profit From Accounting Shenanigans — Legally Do you mean to say it's all a game, bro? "When it comes to quarterly results, too many companies try to game the system. They tell analysts what they expect to earn in the quarter, and then magically meet or exceed earnings per share ( EPS ) forecasts every time. Do they have a crystal ball at the start of the quarter and know how results will turn out? Nope. They simply make a series of accounting adjustments — a booked order turned into a sale here, an expense deferred there — and are able to come up with whatever net income figure they like. ( Here are some examples of financial trickery.)" [StreetAuthority]

A power outage delayed the trial of an accountant accused of killing his boss in Michigan [WWMT]

Bond reduced for CPA facing human trafficking, drug charges Because "several people testified that he was not a danger to the community or a risk to flee." [The Gainesville Sun]

IRS Strategic Plan Highlights Effects Of Budget Cuts [Forbes]

The IRS phone scam is still going on, and now they're pretending to be the cops too [WKRN]

Fitness enthusiasts exercised over D.C.'s new yoga sales tax The national capital's city council last month approved a new tax on fitness facilities. It was promptly dubbed the yoga tax and sent protesters into contortions they'd never be able to achieve on the mat. [Don't Mess With Taxes]

Women at Goldman Sachs are either sexualized or ignored by binge-drinking 'boys club', claim two former employees as they launch class action lawsuit H Cristina Chen-Oster and Shanna Orlich petitioned a Manhattan federal judge today to let them sue Goldman on behalf of current and former female associates and vice presidents. They said in a filing that they have statements by former Goldman employees, expert statistical analyses and evidence of earnings and promotions from the firm's records to support their claims. [Daily Mail]

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