When accounting goes unaccounted for
Immaterial!
Our Philadelphia office celebrating Pi Day! 3.14159265359… #McGladreyCareers #LifeAtMcGladrey #PiDay http://t.co/ChNIIJQDmE
— McGladrey Careers (@LifeatMcGladrey) March 13, 2015
Presumably, these Philly McGs are auditors because you KNOW the tax folks will be celebrating the real Pi day at the office tomorrow.
The PCAOB recently approved a $384.7 million budget for 2024, an 11 percent increase over […]
Somehow this got overlooked earlier in the week but we can’t literally be all-knowing, all-seeing, all the time. Plus, haven’t you missed this mug?
Headphone cobbler Koss filed it’s first quarter 10-Q earlier this week, which ordinarily would be a non-event except for a small matter of missing financial statements.
The Milwaukee Business Journal reports that the company cited the missing financial statements “due to delays relating to certain previously disclosed unauthorized transactions.”
Yes, that’s PR-speak for ueSay achdevaSay.
Koss executives intend to amend the Form 10-Q to include the quarterly unaudited financial statements as soon as possible after Koss Corp. completes restating statements from previous quarters in fiscal 2008, fiscal 2009 and the quarter ending Sept. 30, 2009, the company said. The company said it expects to file amended financial reports with the SEC no later than June 30.
But there’s nothing to be worried about because the company declared a dividend and secured an $8 million credit facility with JP Morgan. Progress!
Koss declares dividend, but yet to report results [Milwaukee Business Journal]
10-Q [SEC.gov]
8-K [SEC.gov]
Since many of you are current or former accounting students, you undoubtedly, at one time or another during your depraved days running around the quad, had the thought creep into your mind, “What would happen if Professor Johnson decided to drop trou in the middle of class while discussing accounting for bonds?”
Unfortunately for students at Kennesaw State University, they now know the answer to that question:
Raymond Devaughn Taylor, 57, is accused of taking off his clothes during a class he was teaching, according to an arrest warrant obtained by the AJC. […] Taylor, who worked in the business department on a contract basis, taught an accounting class during the fall semester on Tuesdays and Thursdays, according to the class schedule posted on the university’s website.
“He will not be teaching again at KSU,” interim Provost Ken Harmon told the AJC.
Now, why this particular professor thought that pulling a Brett Favre on the entire class was a good idea is not entirely clear, as this particular method of impressing a target of your lust many years your junior has an abysmal track record. But as we alluded in the headline, maybe this was a unique teaching method on display. Or then again, perhaps students were showing their lack of interest and rather than scream and yell, Taylor figured this would hold the student’s attention better. OR simply, in the words of Cosmo, “Maybe uh, it needed some air. You know sometimes they need air, they can’t breathe in there. It’s inhuman.”
The theories are endless, really. Yours are welcome below and for the love of everything good and uproariously hilarious, if you were in this class, email us immediately.
[h/t TaxProf and The Summa – neither of whom would ever do such a thing]