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.