Interesting read and some very valid points. Small business of-interest with tips and takeaways.
Excerpt: How can management and directors and auditors see one thing, when the complete opposite reflects reality? And why do internet IPOs seem particularly vulnerable? Well, we think the problem is with the accounting “standards” (and we use that term loosely) that apply to these companies. As we stated in an earlier post:
Internet company accounting is suspect given all the unsupported assertions and assumptions that must be made to comply with generally accepted accounting principles…
Read full article via THE “BEAUTY” OF INTERNET COMPANY ACCOUNTING » Grumpy Old Accountants.