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.
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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
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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:
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