January 25, 2022

media fail

Here’s What a Hedge Fund Profit-And-Loss Statement DOESN’T Look Like

Oh Hamilton Nolan… you'd be wise to avoid writing about things you just don't understand. Case in point, this alleged hedge fund "P&L statement" he came up with that is less P&L and more some internal spreadsheet that likely got spit out by the fund's accounting software, if it's real at all: Hedge funds are […]

Why Regular Folk Can’t Be Trusted To Cover the CPA Exam

If you remember, I took issue with certain media outlets' coverage of hipster warehouse American Apparel's fall from financial grace when well-meaning writers called the then-doomed company a "going concern." Little did these fly-by accounting writers realize that "going concern" is actually a good thing (unless, of course, we're referring to this website) and that […]