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Old 03-25-2010, 06:08 PM
 
6,902 posts, read 7,526,234 times
Reputation: 2018

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Quote:
Originally Posted by pghquest View Post
Its not spin, its fact.. Just because they are taking the writeoff this month, it doesnt mean that the losses are real this month, or they are fake for the year.. Corporations can choose what quarter to take the writeoff just like individuals who file quarterly can do the same, and then adjust future quarters to reflect actual accounting for the fiscal year..

thats cooking the books. Public companies can not apply a charge off against a quater that it did not occur, thats cooking the books. Example, if a company lost 1 million dollars for the month of December, they can not hold onto that reporting until April of the following year. That is illegal and cooking the books. You can forecast how much you projected loss would be, but it can not be applied towards your actuals until it has occured.
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Old 03-25-2010, 06:09 PM
 
Location: Great State of Texas
86,052 posts, read 84,321,515 times
Reputation: 27718
Quote:
Originally Posted by Katiana View Post
Spin, spin, spin and spin some more. All this "funny money" accounting.
There's nothing funny about it..companies have to have their financials certified.

You seem to be treading in an area that you don't have a lot of knowledge on.

Here..read it over and see how financials are done for corporations:

John*Deere - Annual Reports
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Old 03-25-2010, 06:09 PM
 
Location: Foot of the Rockies
90,316 posts, read 120,475,124 times
Reputation: 35920
Quote:
Originally Posted by blackandproud View Post
thats cooking the books. Public companies can not apply a charge off against a quater that it did not occur, thats cooking the books. Example, if a company lost 1 million dollars for the month of December, they can not hold onto that reporting until April of the following year. That is illegal and cooking the books. You can forecast how much you projected loss would be, but it can not be applied towards your actuals until it has occured.
I owe you a rep (when I can).
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Old 03-25-2010, 06:11 PM
 
14,771 posts, read 17,075,240 times
Reputation: 20658

Am I understanding this properly (sorry our system in Australia is quite different) ...

A company will pay for retiree's & their spouses health insurance or perscription drug benefits??

The entire idea that health insurance is tied up with your employer is odd to me....
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Old 03-25-2010, 06:14 PM
 
Location: Great State of Texas
86,052 posts, read 84,321,515 times
Reputation: 27718
DE's net income in 2009 was 1/3 of what it was in 2008.
If you were bleeding money like that you'd start saving away money for taxes early too.
You cannot escape taxes..they have to be paid.

DE: Income Statement for Deere & Company Common Stock - Yahoo! Finance
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Old 03-25-2010, 06:14 PM
 
6,902 posts, read 7,526,234 times
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Quote:
Originally Posted by Katiana View Post
I owe you a rep (when I can).

We'll be bailing out another company using fuzzy math calculators. That rubber tree has melted.
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Old 03-25-2010, 06:19 PM
 
6,902 posts, read 7,526,234 times
Reputation: 2018
Quote:
Originally Posted by HappyTexan View Post
DE's net income in 2009 was 1/3 of what it was in 2008.
If you were bleeding money like that you'd start saving away money for taxes early too.
You cannot escape taxes..they have to be paid.

DE: Income Statement for Deere & Company Common Stock - Yahoo! Finance

So by looking at that statement, it appears that their 1st quater begins January1 and ends March 30th if they post their actuals April 30th. So in essence, they will not be loosing anything 1st quater on the bill since, there is only a few days left. Their 2nd quater will begin April 1 - June 30th.
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Old 03-25-2010, 06:19 PM
 
Location: Great State of Texas
86,052 posts, read 84,321,515 times
Reputation: 27718
Quote:
Originally Posted by blackandproud View Post
We'll be bailing out another company using fuzzy math calculators. That rubber tree has melted.
No we won't..they'll just go offshore. DE and CAT are well respected companies all over the world.
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Old 03-25-2010, 06:22 PM
 
6,902 posts, read 7,526,234 times
Reputation: 2018
Quote:
Originally Posted by HappyTexan View Post
No we won't..they'll just go offshore. DE and CAT are well respected companies all over the world.

No, they'll be in jail for cooking the books and conservators will be appointed to run the company.
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Old 03-25-2010, 06:23 PM
 
Location: Chicagoland
41,325 posts, read 44,874,903 times
Reputation: 7118
Quote:
Originally Posted by tejano2828 View Post
For far too long companies like John Deere have been circumventing the Tax system to BENEFIT THEM....they've been riding the wave too long...it's time to pay up.
The wave. You mean a business that creates thousands of jobs and makes a profit?

Why is it the Left thinks business making a profit is obscene?

If they didn't make a profit, they wouldn't be able to hire, they wouldn't have investors, they wouldn't pay taxes.

Where did this profit=evil narrative come from?
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