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winstoncooper

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winstoncooper

Re: mrf8714 post# 65421

Wednesday, 05/21/2014 5:00:47 PM

Wednesday, May 21, 2014 5:00:47 PM

Post# of 179939
Did he construct the studios himself? Did he lease the facilities from himself? What happened to the staff working late hours to reach the goal? Where are the payments to them in March?
(And remember, GAAP requires you to use the accrual basis, so even if payments weren't made, liabilities need to be recorded at 3/31/14).
The equipment on the 3/31/14 balance sheet is unchanged from 12/31/13. Does that seem right to you?
Sorry guys...but this statement is garbage imo...(Full disclosure, I am a CPA)
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