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April 25, 2016 06:08 am PDT

Fantasy accounting: how the biggest companies in America turn real losses into paper profits

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Lax enforcement from the SEC has allowed the biggest companies in America -- 90 percent of the companies in the S&P 500, led by the faltering energy sector -- to ignore the "Generally Accepted Accounting Principles" (GAAP) in presenting their financial information to investors, manufacturing nonexistent profits in quarters where they suffer punishing losses. (more…)


Original Link: http://feeds.boingboing.net/~r/boingboing/iBag/~3/keNXbIsBnPE/fantasy-accounting-how-the-bi.html

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