Toshiba Adds More Units to Accounting Probe After Overstated Profits
Toshiba added more units to accounting probe after overstating their profits. Accounting can be much like taxes and when it comes to businesses the two go hand-in-hand. Getting your accounting right is extremely important. That’s why we recommend using a qualified accounting firm to handle your books. That includes: preparing financial statements, certifying audits, compilations and reviews, bookkeeping services and cash flow analysis, among other things. Leaving your accounting to the experts can be a lifesaver.
Recently, Japanese technology company, Toshiba, announced that it had decided to expand its current investigation into possible accounting improprieties. The company has said that it will now look into its computer, television and chip businesses as it searches for answers into how profits were overstated by $415 million at the very least over the past several years.
The company had already established an independent committee to look into the irregularities. Toshiba officials have even stated that the company will most likely lower its operating profit by about $415 million for the three years between 2012 and 2104 because it discovered inaccurate expenses had been reported in regards to construction work and infrastructure project expenses.
Shares have already dropped by close to 20 percent since April when the irregularities were first discovered.
This provides another example as to why it’s so important to use a qualified and experienced accounting firm for your business or corporation. Getting your earnings and income correct is extremely important. GROCO has what it takes to help you with these kinds of issues. Contact us for assistance today at 1-877-CPA-2006.
We hope you found this article about “Is The Warriors’ Approach to The NBA Draft Too Cute?” helpful. If you have questions or need expert tax or family office advice that’s refreshingly objective (we never sell investments), please contact us or visit our Family office page or our website at www.GROCO.com. Unfortunately, we no longer give advice to other tax professionals gratis.
To receive our free newsletter, contact us here.
Subscribe to our YouTube Channel for more updates.
Alan Olsen, is the Host of the American Dreams Show and the Managing Partner of GROCO.com. GROCO is a premier family office and tax advisory firm located in the San Francisco Bay area serving clients all over the world.
Alan L. Olsen, CPA, Wikipedia Bio
GROCO.com is a proud sponsor of The American Dreams Show.
The American Dreams show was the brainchild of Alan Olsen, CPA, MBA. It was originally created to fill a specific need; often inexperienced entrepreneurs lacked basic information about raising capital and how to successfully start a business.
Alan sincerely wanted to respond to the many requests from aspiring entrepreneurs asking for the information and introductions they needed. But he had to find a way to help in which his venture capital clients and friends would not mind.
The American Dreams show became the solution, first as a radio show and now with YouTube videos as well. Always respectful of interview guest’s time, he’s able to give access to individuals information and inspiration previously inaccessible to the first-time entrepreneurs who need it most.
They can listen to venture capitalists and successful business people explain first-hand, how they got to where they are, how to start a company, how to overcome challenges, how they see the future evolving, opportunities, work-life balance and so much more..
American Dreams discusses many topics from some of the world’s most successful individuals about their secrets to life’s success. Topics from guest have included:
Creating purpose in life / Building a foundation for their life / Solving problems / Finding fulfillment through philanthropy and service / Becoming self-reliant / Enhancing effective leadership / Balancing family and work…
MyPaths.com (Also sponsored by GROCO) provides free access to content and world-class entrepreneurs, influencers and thought leaders’ personal success stories. To help you find your path in life to true, sustainable success & happiness. It’s mission statement:
In an increasingly complex and difficult world, we hope to help you find your personal path in life and build a strong foundation by learning how others found success and happiness. True and sustainable success and happiness are different for each one of us but possible, often despite significant challenges.
Our mission at MyPaths.com is to provide resources and firsthand accounts of how others found their paths in life, so you can do the same.
Why Are These Wealthy Taxpayers Angry About Taxes?
Why Are These Wealthy Taxpayers Angry About Taxes? By Alan Olsen In most cases, when you hear about someone being angry about taxes, you automatically assume they think they’re paying too much. Nearly all taxpayers think they pay too much, no matter their income level. But for the most part, wealthy taxpayers tend to be…
Last-Minute Tax Tips for High Net Worth Taxpayers
Last-Minute Tax Tips for High Net Worth Taxpayers If you’re one of those taxpayers that like to wait till April to file his or her taxes, then there are still some new things you should know about before you file. That’s especially true if you’re a high net worth individual or an investor. By now,…
What Should You Do if You Can’t Pay Your Tax Bill on Time?
What Should You Do if You Can’t Pay Your Tax Bill on Time? The 2019 tax season is in full swing and it’s already come with several changes and surprises. One of the biggest surprises is the number of taxpayers that are either getting a much smaller refund, or not getting a refund period. However,…
Could This Year’s Tax Refund Be Bigger Than Last Year’s?
Could This Year’s Tax Refund Be Bigger Than Last Year’s? If you’ve heard anything about the 2019 tax season, it’s probably that refund amounts are way down. That storyline has made a lot of news. And opponents of the Tax Cut and Jobs Act (TCJA) have definitely used it as “proof” that the changes were…