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Samsung Unit Afoul Of Accounting Law, Regulator Says

PYMNTS

The nation’s Financial Services Commission (FSC) has referred the case to prosecutors, reports said , after finding that the contract drug manufacturing unit violated accounting regulations in regards to its joint venture with Biogen. That notice led to a $6 billion market value loss.

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166: Nicolaas van Wyk

CFO Talks

Today’s podcast is sponsored by Draftworx, which provides automated drafting and working paper financial software to more than 8000 accounting and auditing firms and corporations. The stakes are very high because you can lose your funding and investments and that means losses of jobs, losses of expansion of new branches or factories.

CFO 40
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Transcript: Michael Fisch

Barry Ritholtz

We hope that we can invest behind and see stability so that there won’t be a loss of capital 00:28:00 [Speaker Changed] And, and above average GDP 00:28:02 [Speaker Changed] Growth. And that at least annually, those evaluations are typically subjected to audit as part of the audit process.

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Triggered Disclosures: Escaping the Disclosure Dilemma

Musings on Markets

It extends into materiality, by reframing that concept in terms of value, rather than profits, and connecting it to disclosure, with disclosure requirements increasing proportionately with the value effect. One size (does not) fit all!

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Using Detailed Meeting Checklists to Drive Referral Growth

CFO News Room

Michael: So, it sounds like part of the challenge was, you live in a large company environment where, as is common for a lot of them, they organized study groups of top advisors, of top producers, of those that are doing well and growing well, and driving the business profitably. In fact, we probably would have been much more profitable.

Planning 130
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Transcript: Tom Wagner, Knighthead Capital

Barry Ritholtz

WAGNER: Yeah, I started as a certified public accountant and one of the early engagements that I was tasked with was in the space of asset management and I recall doing the audit on Jeffrey Vinik’s very first year as a hedge fund manager. And it was the most profitable day of trading I’d ever had. WAGNER: Exactly.

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Transcript: Sean Dobson, Amherst Holdings

Barry Ritholtz

And so, so we sort of felt pretty stupid for a while because we did a lot of losing trades in 2006 that were the, you know, that obviously didn’t come to fruition until the actual people could see the losses. So in mortgages, the borrower can stop paying maybe a year to two years before the lenders actually book a loss.