Off-Balance Sheet Liabilities: Still Got It!
If you were worried that the heyday of companies using accounting rules to stash gazillions of dollars in debt out of sight was over, you can rest easy, friend. The Wall Street Journal reports on a Moody’s analysis by Trevor Pijper that found that defunct U.K. contractor Carillion used loose rules to keep about half a […]
Your Average Millennial Probably Can’t Solve the Basic Accounting Equation
Are you feeling bad about yourself? Is it your looks? A crummy job? The lack of direction in your life? Professional failings? The sorry state of your personal balance sheet? Don't fret! Well, at least about the personal balance sheet thing. Whenever you're feeling blue, just remember that most people under 35 don't even know […]
Twitter’s Latest 10-Q Is a Perfect Example of Why No One Wants New Lease Accounting
We all know Twitter — like a lot of "successful" tech companies — isn't exactly making profits hand over fist despite decent revenue but did you know how bad their lease situation is? Spoiler alert: it's bad. In their latest 10-Q filed with the SEC a few days ago, we find the following: So total […]
Companies Wanting More Liabilities on Their Balance Sheets Will Love the New Lease Accounting Proposal
What's that you say, Hans? No one wants more liabilities on their balance sheet? "Obviously, this standard is not a very popular one," IASB chief Hans Hoogervorst said in a conference call. "Generally, companies like off-balance-sheet financing" and the standard will put an end to a major part of it, he said. Well, that's […]