One day I hope they adjust some of their accountin
Post# of 4018
Posted On: 07/27/2012 9:45:48 PM
One day I hope they adjust some of their accounting too. I've never liked how the write off of the negative goodwill shows up as negative $10M in retained earnings. I had a friend who is pretty business savvy look into SIRG and he asked me 'why are they $10M in debt?'. I had to explain to him (cuz he never took finance as seriously as i did lol) why this was not "Debt" owed to anyone and that going forward it was actually a positive tax write-off against any profits.
There are a few other ways they could've and maybe should've dealt with the 'goodwill' accounting. There must be a fair number of smart people who open the finances and automatically see 'debt'. I guess if this thing gets going their loss is my gain! lol
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