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: The FRAUDfiles BlogOverstock.com: Pretend accounting measures muddy the waters
By Tracy Coenen
I present for you today one (just one) example of the accounting shenanigans at Overstock.com Inc. (NASDAQ:OSTK) to demonstrate the deception of management. This accounting concept is quite elementary, and it is called EBITDA.
EBITDA = Earnings Before Interest, Taxes, Depreciation and Amortization
Accountants and investors generally agree on what all of those items (earnings, interest, taxes, depreciation, amortization) are. So the computation of EBITDA is quite simple, if presented with accurate and complete financial statements. (more…)
Full post as published by The FRAUDfiles Blog on February 13, 2008 (boomark / email).
Accounting Malpractice - Accountant Malpractice, Accounting Malpractice Lawsuit
Accounting Malpractice alleging financial malpractice by accountants.
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