Posted by: Anonymous Coward
on March 04, 2005 05:01 PM
This is a genuine question - no snide remarks please.
I am only just starting accounting so I don't fully understand what is going on here?
One thing suggested here is an error in a stock options expense between two quarters. I guess this resulted in an overstatement of profit in first quarter 2004? which was subsequently posted to the 2nd quarter results? I assume that this is ultimately not important as long as any issues are resolved by financial year end? However, even this relatively small amount would have improved the stated position of SCO?
As the the remaining share options and dividend stuff? What is that all about? Is this another example of refactoring money benefit the 'view of SCO' for the sake of potential shareholders and what was the timing?
Apart from using the media for share price 'pumping' in previous years we now seem to be seeing a company which issues 'garbage' intermediate quarterly statements which are of no real value to investors. These financial attitudes seem to completely undermine basic accounting principles. Is what they are doing actually legal? Would you want to audit their accounts?
By the way we now clearly know who their auditors are!! Perhaps you might want to think about who you you might use to audit your accounts in future?
Learn about Linux
Download Linux
Get Linux help
Can anybody explain this?
Posted by: Anonymous Coward on March 04, 2005 05:01 PMI am only just starting accounting so I don't fully understand what is going on here?
One thing suggested here is an error in a stock options expense between two quarters. I guess this resulted in an overstatement of profit in first quarter 2004? which was subsequently posted to the 2nd quarter results? I assume that this is ultimately not important as long as any issues are resolved by financial year end? However, even this relatively small amount would have improved the stated position of SCO?
As the the remaining share options and dividend stuff? What is that all about? Is this another example of refactoring money benefit the 'view of SCO' for the sake of potential shareholders and what was the timing?
Apart from using the media for share price 'pumping' in previous years we now seem to be seeing a company which issues 'garbage' intermediate quarterly statements which are of no real value to investors. These financial attitudes seem to completely undermine basic accounting principles. Is what they are doing actually legal? Would you want to audit their accounts?
By the way we now clearly know who their auditors are!! Perhaps you might want to think about who you you might use to audit your accounts in future?
#