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	<title>Fraud Files Forensic Accounting Blog &#187; gaap</title>
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	<link>http://www.sequenceinc.com/fraudfiles</link>
	<description>Forensic accounting, fraud examinations, internal investigations  from an expert witness who investigates fraud.</description>
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		<title>IFRS and Fraud: More Challenges, More Risks</title>
		<link>http://www.sequenceinc.com/fraudfiles/2011/12/ifrs-and-fraud-more-challenges-more-risks/</link>
		<comments>http://www.sequenceinc.com/fraudfiles/2011/12/ifrs-and-fraud-more-challenges-more-risks/#comments</comments>
		<pubDate>Fri, 02 Dec 2011 12:00:01 +0000</pubDate>
		<dc:creator>Tracy Coenen</dc:creator>
				<category><![CDATA[Auditing & Regulations]]></category>
		<category><![CDATA[Internal Investigations]]></category>
		<category><![CDATA[White Collar Crime]]></category>
		<category><![CDATA[gaap]]></category>
		<category><![CDATA[ifrs]]></category>

		<guid isPermaLink="false">http://www.sequenceinc.com/fraudfiles/?p=8304</guid>
		<description><![CDATA[My article in the AICPA Corporate Finance Insider Newsletter Reasonable accountants can disagree about whether a move to International Financial Reporting Standards (IFRS) will improve financial reporting. One key concern is that principles-based financial statements are much more susceptible to fraud. Rather than relying on strict rules, management’s judgment will guide much of the reporting. [...]]]></description>
		<wfw:commentRss>http://www.sequenceinc.com/fraudfiles/2011/12/ifrs-and-fraud-more-challenges-more-risks/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
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		<title>Groupon: Restated Numbers Reveal Failure of Business</title>
		<link>http://www.sequenceinc.com/fraudfiles/2011/09/groupon-restated-numbers-reveal-failure-of-business/</link>
		<comments>http://www.sequenceinc.com/fraudfiles/2011/09/groupon-restated-numbers-reveal-failure-of-business/#comments</comments>
		<pubDate>Mon, 26 Sep 2011 04:02:26 +0000</pubDate>
		<dc:creator>Tracy Coenen</dc:creator>
				<category><![CDATA[Auditing & Regulations]]></category>
		<category><![CDATA[Public Companies]]></category>
		<category><![CDATA[E&Y]]></category>
		<category><![CDATA[ernst & young]]></category>
		<category><![CDATA[gaap]]></category>
		<category><![CDATA[groupon ipo]]></category>
		<category><![CDATA[grumpy accountants]]></category>
		<category><![CDATA[revenue recognition]]></category>

		<guid isPermaLink="false">http://www.sequenceinc.com/fraudfiles/?p=7808</guid>
		<description><![CDATA[In July, critics attacked Groupon (GRPN) and it use of a made-up accounting measure management called Adjusted CSOI. I suggested that the company made up the measure to exclude many of the company&#8217;s expenses to make the company look more successful. There was more to the story, however, as the Grumpy Old Accountants revealed Generally [...]]]></description>
		<wfw:commentRss>http://www.sequenceinc.com/fraudfiles/2011/09/groupon-restated-numbers-reveal-failure-of-business/feed/</wfw:commentRss>
		<slash:comments>13</slash:comments>
		</item>
		<item>
		<title>One Accountant&#8217;s Argument Against IFRS</title>
		<link>http://www.sequenceinc.com/fraudfiles/2008/06/one-accountants-argument-against-ifrs/</link>
		<comments>http://www.sequenceinc.com/fraudfiles/2008/06/one-accountants-argument-against-ifrs/#comments</comments>
		<pubDate>Mon, 30 Jun 2008 15:34:28 +0000</pubDate>
		<dc:creator>Tracy Coenen</dc:creator>
				<category><![CDATA[Auditing & Regulations]]></category>
		<category><![CDATA[gaap]]></category>
		<category><![CDATA[ifrs]]></category>
		<category><![CDATA[international financial reporting standards]]></category>
		<category><![CDATA[us gaap]]></category>

		<guid isPermaLink="false">http://www.sequence-inc.com/fraudfiles/?p=1629</guid>
		<description><![CDATA[Al Rosen, a forensic accountant and principal of Rosen &#38; 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&#8217;t hasn&#8217;t been a final decision or a timeline for doing so. The [...]]]></description>
		<wfw:commentRss>http://www.sequenceinc.com/fraudfiles/2008/06/one-accountants-argument-against-ifrs/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>The IFRS Impact on Accounting Education in the U.S.</title>
		<link>http://www.sequenceinc.com/fraudfiles/2008/06/the-ifrs-impact-on-accounting-education-in-the-us/</link>
		<comments>http://www.sequenceinc.com/fraudfiles/2008/06/the-ifrs-impact-on-accounting-education-in-the-us/#comments</comments>
		<pubDate>Sat, 28 Jun 2008 20:20:48 +0000</pubDate>
		<dc:creator>Tracy Coenen</dc:creator>
				<category><![CDATA[Auditing & Regulations]]></category>
		<category><![CDATA[gaap]]></category>
		<category><![CDATA[ifrs]]></category>
		<category><![CDATA[international financial reporting standards]]></category>

		<guid isPermaLink="false">http://www.sequence-inc.com/fraudfiles/?p=1624</guid>
		<description><![CDATA[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&#8217;s what&#8217;s used in [...]]]></description>
		<wfw:commentRss>http://www.sequenceinc.com/fraudfiles/2008/06/the-ifrs-impact-on-accounting-education-in-the-us/feed/</wfw:commentRss>
		<slash:comments>8</slash:comments>
		</item>
		<item>
		<title>Overstock.com Materially Overstates EBITDA</title>
		<link>http://www.sequenceinc.com/fraudfiles/2008/05/overstockcom-materially-overstates-ebitda/</link>
		<comments>http://www.sequenceinc.com/fraudfiles/2008/05/overstockcom-materially-overstates-ebitda/#comments</comments>
		<pubDate>Wed, 28 May 2008 15:35:38 +0000</pubDate>
		<dc:creator>Tracy Coenen</dc:creator>
				<category><![CDATA[Auditing & Regulations]]></category>
		<category><![CDATA[Public Companies]]></category>
		<category><![CDATA[ebitda]]></category>
		<category><![CDATA[gaap]]></category>
		<category><![CDATA[overstock]]></category>
		<category><![CDATA[pricewaterhousecoopers]]></category>
		<category><![CDATA[sam antar]]></category>

		<guid isPermaLink="false">http://www.sequence-inc.com/fraudfiles/?p=1532</guid>
		<description><![CDATA[Sam Antar has a great article today on Overstock.com (NASDAQ:OSTK) continuing to overstate EBITDA. Specifically, Sam says: In Overstock.com’s Q1 2008 earnings release and 10-Q report the company continued to improperly remove from its EBITDA calculation, certain stock-based expenses in violation of Regulation G. As a result, Overstock.com’s reported Q1 2008 EBITDA of $3.524 million [...]]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>GAAP Being Replaced By BOSS</title>
		<link>http://www.sequenceinc.com/fraudfiles/2008/04/gaap-being-replaced-by-boss/</link>
		<comments>http://www.sequenceinc.com/fraudfiles/2008/04/gaap-being-replaced-by-boss/#comments</comments>
		<pubDate>Wed, 23 Apr 2008 11:20:17 +0000</pubDate>
		<dc:creator>Tracy Coenen</dc:creator>
				<category><![CDATA[Auditing & Regulations]]></category>
		<category><![CDATA[Public Companies]]></category>
		<category><![CDATA[david chidester]]></category>
		<category><![CDATA[gaap]]></category>
		<category><![CDATA[jonathan johnson]]></category>
		<category><![CDATA[material misstatements]]></category>
		<category><![CDATA[o.co]]></category>
		<category><![CDATA[overstock]]></category>
		<category><![CDATA[sith lord]]></category>

		<guid isPermaLink="false">http://www.sequence-inc.com/fraudfiles/?p=1418</guid>
		<description><![CDATA[It&#8217;s official. The Sith Lord and I have concluded our meeting, and public companies in the United States will no longer be required to follow GAAP (Generally Accepted Accounting Principles). Instead, they will immediately begin following BOSS (Because Overstock Said So). Many of you are not surprised by this change. With Patrick Byrne&#8217;s impressive ability [...]]]></description>
		<wfw:commentRss>http://www.sequenceinc.com/fraudfiles/2008/04/gaap-being-replaced-by-boss/feed/</wfw:commentRss>
		<slash:comments>15</slash:comments>
		</item>
		<item>
		<title>Latest Overstock.com Lie: 2007 First Quarter Numbers Were GAAP</title>
		<link>http://www.sequenceinc.com/fraudfiles/2008/04/latest-overstockcom-lie-2007-first-quarter-numbers-were-gaap/</link>
		<comments>http://www.sequenceinc.com/fraudfiles/2008/04/latest-overstockcom-lie-2007-first-quarter-numbers-were-gaap/#comments</comments>
		<pubDate>Tue, 22 Apr 2008 20:47:46 +0000</pubDate>
		<dc:creator>Tracy Coenen</dc:creator>
				<category><![CDATA[Auditing & Regulations]]></category>
		<category><![CDATA[Public Companies]]></category>
		<category><![CDATA[gaap]]></category>
		<category><![CDATA[non gaap]]></category>
		<category><![CDATA[o.co]]></category>
		<category><![CDATA[overstock]]></category>

		<guid isPermaLink="false">http://www.sequence-inc.com/fraudfiles/?p=1415</guid>
		<description><![CDATA[Yesterday Sam Antar printed a very interesting piece on his blog that sharply criticized the 2008 first quarter earnings release of Overstock.com (NASDAQ:OSTK). I picked up the most damaging part of it, which related to Overstock claiming a 27% increase in revenue over 2007. The problem was that 2008 was calculated in a different way [...]]]></description>
		<wfw:commentRss>http://www.sequenceinc.com/fraudfiles/2008/04/latest-overstockcom-lie-2007-first-quarter-numbers-were-gaap/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Manipulation of Earnings in Overstock.com Press Release (Are You Surprised?)</title>
		<link>http://www.sequenceinc.com/fraudfiles/2008/04/manipulation-of-earnings-in-overstockcom-press-release-are-you-surprised/</link>
		<comments>http://www.sequenceinc.com/fraudfiles/2008/04/manipulation-of-earnings-in-overstockcom-press-release-are-you-surprised/#comments</comments>
		<pubDate>Mon, 21 Apr 2008 16:21:14 +0000</pubDate>
		<dc:creator>Tracy Coenen</dc:creator>
				<category><![CDATA[Public Companies]]></category>
		<category><![CDATA[earnings management]]></category>
		<category><![CDATA[earnings manipulation]]></category>
		<category><![CDATA[earnings release]]></category>
		<category><![CDATA[gaap]]></category>
		<category><![CDATA[overstock]]></category>
		<category><![CDATA[patrick byrne]]></category>

		<guid isPermaLink="false">http://www.sequence-inc.com/fraudfiles/?p=1411</guid>
		<description><![CDATA[Today convicted felon Sam Antar has an exciting piece on his blog about Overstock.com (NASDAQ:OSTK) and how it fudged its earnings figures in Friday&#8217;s press release, caused a short squeeze right before options expired, and continued on Patrick Byrne&#8217;s path of misleading investors. It all began with a press release reporting 2008 earnings, saying that [...]]]></description>
		<wfw:commentRss>http://www.sequenceinc.com/fraudfiles/2008/04/manipulation-of-earnings-in-overstockcom-press-release-are-you-surprised/feed/</wfw:commentRss>
		<slash:comments>3</slash:comments>
		</item>
		<item>
		<title>The Latest Usana Report, Authored By Me</title>
		<link>http://www.sequenceinc.com/fraudfiles/2007/04/the-latest-usana-report-authored-by-me/</link>
		<comments>http://www.sequenceinc.com/fraudfiles/2007/04/the-latest-usana-report-authored-by-me/#comments</comments>
		<pubDate>Fri, 27 Apr 2007 14:36:37 +0000</pubDate>
		<dc:creator>Tracy Coenen</dc:creator>
				<category><![CDATA[Public Companies]]></category>
		<category><![CDATA[Pyramid Schemes & MLM]]></category>
		<category><![CDATA[fraud discovery]]></category>
		<category><![CDATA[gaap]]></category>
		<category><![CDATA[usana]]></category>

		<guid isPermaLink="false">http://www.sequence-inc.com/fraudfiles/2007/04/27/the-latest-usana-report-authored-by-me/</guid>
		<description><![CDATA[I issued a report to Fraud Discovery Institute about many of the financial issues raised in the Usana Health Sciences matter. The report clarifies the issues and why they&#8217;re important from an accounting perspective, specifically regarding Generally Accepted Accounting Principles (GAAP), materiality, and disclosures. A few of the high points of my report include: Dave [...]]]></description>
		<wfw:commentRss>http://www.sequenceinc.com/fraudfiles/2007/04/the-latest-usana-report-authored-by-me/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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