One accountant’s argument against IFRS
Al Rosen, a forensic accountant and principal of Rosen & Associates in Toronto wrote about his opinion on IFRS (International Financial Reporting Standards) in Canadian Business magazine.
The U.S. might be moving from GAAP (Generally Accepted Accounting Principles) to IFRS, although there isn’t hasn’t been a final decision or a timeline for doing so. The problems [...]
MonaVie: Scam or not?
The scheme: Typical multi-level marketing company, using the guise of “direct sales” to make the business look like a legitimate retail venture. The reality is that it’s nothing more than a recruiting scheme like Usana, Mary Kay, Arbonne, PrePaid Legal, Primerica, Herbalife, United First Financial, and so many other companies that make big promises to [...]
IRS audit red flags
I wrote a couple of posts on some common IRS audit red flags shortly after tax season ended and never finished the list. So here are a few more items that might cause the IRS to want to look at your tax returns a little more closely.
The SEC investigation of Overstock was because Patrick Byrne is trying to expose corruption on Wall Street?
That appears to be what Patrick Byrne is suggesting in this interview. The story keeps changing. At one point, Patrick said he and Overstock.com (NASDAQ:OSTK) weren’t really the target of the SEC investigation. Rather, the investigation was focused on others (hence the “celebration” of subpoenas). When the SEC issued a no-action letter, suddenly the investigation [...]
Short selling, miscreants ball, and conspiracies… OH MY!
On August 12, 2005, Patrick Byrne, CEO of Overstock.com (NASDAQ: OSTK) had a conference call he said was going to give information about the “August 11 lawsuit.”
The transcript is 17 glorious pages of Byrne rambling about his conspiracy theories. No questions. Just Byrne and conspiracy theories. I read it on Thursday. And I didn’t really [...]
The IFRS impact on accounting education in the U.S.
A fellow AOL blogger, Victoria Erhart, wrote a fantastic piece on Bloggingstocks,
GAAP vs. IFRS: New accounting rules could mean trouble.She looks at the problems that will surely come up if the U.S. switches to International Financial Reporting Standards (IFRS).
Currently, U.S. accounting programs teach Generally Accepted Accounting Principles (GAAP) because that’s what’s used in the [...]
Obama’s 57 states, with one left to go…
Obama on the 57 states he’s been to, with one left to go…
Is Shop to Earn a scam or a legitimate business?
It you’re considering getting involved in ShopToEarn, don’t miss this post with lots of important information!
A fellow financial blogger recently went down the road of examining a new multi-level marketing company called Shop to Earn. He was considering signing up, and did a review based on the information he had up to that point. He [...]
Patrick Byrne: Do as I say, not as I do.
Patrick Byrne, CEO of Overstock.com (NASDAQ:OSTK) has been on a crusade against naked short selling for a couple of years (or more?). It is currently his position that naked short selling is bad. He confirms his belief in this statement on Overstock.com:
Patrick Byrne is waging a fight with Wall Street over naked short selling. He [...]
Patrick Byrne & Co. up to dirty message board tricks again
I occasionally take a peek at stock message boards like the Investor Village Overstock.com board when I need a bit of entertainment. It’s especially interesting when the poster “Hannibal” makes statements about the financials and operations of Overstock.com and makes no disclosure that he is, in fact, Patrick Byrne the CEO of Overstock (NASDAQ:OSTK).
Patrick and [...]
