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September 22, 2023

When accounting goes unaccounted for

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News

Tesla’s Chief Accounting Officer Nopes on Up Outta There After Just a Month on the Job

by Adrienne Gonzalez

Tesla is having a tough time hanging onto a chief accounting officer, you guys. Dave Morton joined the company in early August after a stint as CFO of Seagate Technology. The day after Morton joined Tesla, CEO Elon Musk tweeted that he was thinking about taking the company private and buying out investors at $420 […]

Financial Reporting

Tesla Is Damn Serious About Revenue Recognition

by Caleb Newquist

Considering the lengths that some companies go to manipulate massage their revenue, this passage from Tesla's Shareholder letter is rather refreshing: During Q1, we consistently produced 400 or more Model S vehicles per week, for a total of over 5,000 during the quarter. We recognized 4,900 vehicles as revenue, exceeding our initial Q1 guidance of 4,500, […]