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.
Can Life Insurance Policies Solve the Estate Tax-Retirement Conundrum?
Can Life Insurance Policies Solve the Estate Tax-Retirement Conundrum? Many top-level company executives and business owners share a common problem when it comes to planning for estate taxes and retirement. The problem is that many of these individuals wonder how they are going to both pay the necessary estate taxes while at the same time…
Will NBA Star Choose New Team According to State Taxes?
Will NBA Star Choose New Team According to State Taxes? There are usually a lot of factors that people consider when they are trying to determine where they are going to live, with their choice of work being a very common one. On the other hand, not everyone typically chooses where he or she is…
Do You Owe Money To The IRS?
The vast majority of Americans get a tax refund from the IRS each spring, but what do you do if you are one of those who have received a tax bill? What do you do if you owe money to the IRS and can’t pay? The IRS encourages you to pay the full amount of…
How Some Big Companies Are Maximizing Their Tax Benefit
How Some Big Companies Are Maximizing Their Tax Benefit There’s no question that the IRS is always looking for ways to get every penny they can from the nation’s taxpayers, whether they be individuals or businesses. On the other hand, many are also doing whatever they can to pay as little as possible, some, even…