• Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint
Share this Page URL
Help

Chapter 12. Influencing Factors: Where D... > What the Accountants Should Have Don...

What the Accountants Should Have Done and Didn't

Dot-coms were desperate for sales to sustain their high valuations, and found a way to get some. They engaged in creative accounting. Unfortunately, the accountants permitted it.

“The only way most Internet companies were showing any money on the books,” a close observer commented, “was by doing deals with one another. The business development heads would meet for lunch. They wouldn't have any idea what the outcome of the meeting would be, but they'd work it out at lunch, and then they'd both show some revenue. But it wasn't real revenue.”[82]


PREVIEW

                                                                          

Not a subscriber?

Start A Free Trial


  
  • Creative Edge
  • Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint