I think you misunderstand the EPS ratio. Financial statements are NOT forward looking. They are historical statements or a snapshot in time (balance sheet). EPS is a measure of if a company paid all of its earnings out as dividends and took zero from Net Income into Retained Earnings, how much would go to each share of stock that is outstanding. Diluted EPS gets into exercisable stock options and convertable debt.
Research has shown that when a company pays any dividends, the stock price tends to go down because investors view it as the company not reinvesting in future growth potential.
Yes, you are correct that investing is about the potential earnings, both short and long term, but those earnings are tied to the stock market, not EPS
The collective thought of all of the EA game coders realizing that, if EA listens to Sean Alexander, there will be lots more unpaid overtime and sleepless nights.
From your question, I'm not exactly sure what these reports are and what they are ultimately used for. However, if they are used for financial reporting purposes, this is an area that IT and financial auditors are looking at even more closely. Just make sure if you implement a pre-written package (OSS or not) or if you write something yourself, make it easy for an auditor to come in and get comfortable on the realiability of the application and they data flowing through it.
I'm a CPA who works in IT auditing. From an accounting and tax perspective, US-GAAP (Generally Accepted Accounting Principles) and the tax code can be very complex. On top of that, there is a GAAP for every country, and there is even an attempt to create international standards. In addition, there are specifics for non-profits and government entities (government accounting is very backwards compared to private business accounting).
I doubt there is a volunteer group with enough programming and accounting skills to write OSS accounting and tax software. I have dabbled in programming and tax is definitely not my strong suit. Remember too that for the big companies, they use systems like Oracle Financials, SAP, etc. Many of these run on Linux or in some sort of *NIX environment. Tons of companies also still keep their General Ledger (G/L) on internally developed mainframe or AS/400 style systems. As other posters have said, there is a lot of money to be made writing a good system and selling it. The flip-side to that coin is that the end-user customer/business has a lot to lose (money, non-compliance with regulations, other reporting requirements, etc.) from having something half-way put together or something that is entirely wrong.
FTA - "'Basically, it looks like the Earth released a gigantic fart of green house gases into the atmosphere - and globally the Earth warmed by about 5C (9F).'"
I didn't know that fart was a scientific term. I'll have to include it in my next science assignment.:-)
The detective control would be to look at large numbers of returns right after the beginning of a new fiscal year. For example, company ABC conducts channel stuffing with company XYZ and ships on December 30. The ABC journal entries are:
On January 15th, XYZ returns almost all of the sale, which let's say was pretty large. Detective controls should be in place to say that when large orders are returned, especially at the beginning of a new fiscal year, someone should look at when the order was shipped and why the items were returned.
I think you are correct that it can sometimes be difficult
Notice that fraud is NOT included in the opinion. The idea of fraud is to go undetected, and you cannot audit for collusion. Therefore, unless the environment suggests fraud is taking place, fraud is discovered by the company or auditor in the normal course of operations or the audit, or if the company reports to the auditor that fraud is taking place, it is extremely difficult to audit for fraud, if not impossible.
The following link is to the auditing standards by the AICPA http://www.aicpa.org/members/div/auditstd/auditing _standards.htm See: SAS 1 - Responsibilities and Functions of the Independent Auditor SAS 99 - Consideration of Fraud in a Financial Statement Audit
The people doing the books in the accounting departments should have a fundamental knowledge of auditing. This includes the Controller and CFO, who are ultimately responsible for the financial statements. If they, or an internal audit department, see this activity taking place, then they should take actions to correct the financial statements before issuing them to the SEC and the public.
What it all boils down to is that either detective controls were not in place to detect channel stuffing, or the detective controls were just ignored.
Mark to market isn't what Enron did. Enron did what is called off-balance sheet financing, which is where companies are created and used to hold lots of liability to keep it off of the main company's books. This is perfectly legal, except you were supposed to have a 2% ownership in the new company. Enron didn't even have close to 2%, and the Andersen auditors didn't report it.
There is a class called that. It's call Introduction to Auditing, which all accounting students take. What's bad is that the auditors for McAfee missed this.
Some of my fondest memories of growing up were playing video games with my dad on our Commodore 64. I remember one game, Falcon Patrol, where you fly a blue Harrier and shoot down red enemy jets (probably Soviets). I could always fly and shoot the bad guys, but I never could land the plane. I would always wait until I was almost out of fuel and ammo and then try to quickly hand the joystick off to my dad for him to land it for me.
Another game he and I used to play was Threshold, and he actually got so good playing it with me that he crashed the game because he got so many extra lives.
It was because of playing video games with my dad that he taught me how to do the basics of loading programs and games on a Commodore 64. While, that doesn't seem like a big deal, but at 4 years old, I thought it was pretty cool that I could list the files on a disk, find the game I wanted, and load it all by myself.
The title that the submitter gave the article says that they lack AN X chromosome! At first I thought these guys just had a Y chromosome. I'm glad he cleared it up with the extra statement, though, now I wonder...XXY?:-)
Just remember that Yoper uses static linking of libraries to speed things up. If that's what you like, then more power to you.
One reason I stick with Slackware is, as the article said, Pat V. doesn't modify and patch the hell out of stuff. It just works the way it was meant to. While I may not have a slick OS X type control panel for KDE, I do have how KDE is supposed to work. Now, I've never tried Yoper, but I do know from using Mandrake, RH, etc. that a lot of those "patches" caused me problems.
I think you are being a little harsh here. First, I read the article you linked to, and I think he has some valid complaints. One of my complaints is why do you have to specify --enable-gui (gui is disabled by default) for a program that offers custom skins and fonts. It's not hard to specify --enable-gui, but it still doesn't make sense.
Second, mplayer has gotten much better to configure. However, it still can be difficult. I first tried it out on Slackware, which is what I still use. I love mplayer and all of the Windows codecs so I'm not tied to Windows just to watch movies. However, making sure you have all of the dependencies is a pain. I finally just started making my own Slackware build scripts and packages for mplayer and the dependencies so I didn't have to remember which configure options I need for my own setup.
Now I don't know about the parent comment's author's situation, but I have found that most people who say, "Oh MPlayer is easy to install. Why don't you understand Linux," have installed it from a pre-made package (e.g. RPM). Many of them (not all) have never tried to actually compile it.
"That's just my opinion, I could be wrong." --Dennis Miller
I think the parent commentor is on the right track here. Windows Media Player and Real Player CANNOT natively decode DVDs. They require a licensed decoder in the background. WMP and RP just are different looks to the same decoder.
For example, you can install WinDVD and have WMP or RP use the WinDVD decoding to play back DVDs. I'm not sure why anyone would want to do this, but that's just me. Remember, you USUALLY have to pay for a decoder, so the software maker can pay the monolithic MPAA for the CSS keys.
As for Linux programs, see the other comments about MPlayer, VLC, Xine, etc.
I'm sorry, but I wish people would stop asking this question. This question has been asked for the past few updates.
Updates like you are looking for are not available for the 1.0.x branch. Patches will be available for the 1.5.x branch. For now, you have to download the entire browser and upgrade that way.
Slashdot Mirror
http://en.wikipedia.org/wiki/Use_tax
Oh, and I'm a CPA. The OP is correct.
Question 3 from the quiz linked FTA:
3. It is the father's gene that decides whether the baby is a boy or a girl. (True or False)
That would be the Y CHROMOSOME. chromosome != gene
http://en.wikipedia.org/wiki/Chromosome
There isn't a single gene that determines gender.
I doubt there will be a Strawberry Shortcake episode. If there was, I'm sure Jack Thompson's head would explode.
Don't they always abuse the mythical Mac gamers? I can see the ending of each episode...
"Congrats on beating the game! You still smell like patchouli!!"
http://www.penny-arcade.com/comic/2006/08/11
I think you misunderstand the EPS ratio. Financial statements are NOT forward looking. They are historical statements or a snapshot in time (balance sheet). EPS is a measure of if a company paid all of its earnings out as dividends and took zero from Net Income into Retained Earnings, how much would go to each share of stock that is outstanding. Diluted EPS gets into exercisable stock options and convertable debt.
Research has shown that when a company pays any dividends, the stock price tends to go down because investors view it as the company not reinvesting in future growth potential.
Yes, you are correct that investing is about the potential earnings, both short and long term, but those earnings are tied to the stock market, not EPS
The collective thought of all of the EA game coders realizing that, if EA listens to Sean Alexander, there will be lots more unpaid overtime and sleepless nights.
I won't ever be able to get around to installing other games. I'll be too busy trying to beat Minesweeper.
From your question, I'm not exactly sure what these reports are and what they are ultimately used for. However, if they are used for financial reporting purposes, this is an area that IT and financial auditors are looking at even more closely. Just make sure if you implement a pre-written package (OSS or not) or if you write something yourself, make it easy for an auditor to come in and get comfortable on the realiability of the application and they data flowing through it.
I'm a CPA who works in IT auditing. From an accounting and tax perspective, US-GAAP (Generally Accepted Accounting Principles) and the tax code can be very complex. On top of that, there is a GAAP for every country, and there is even an attempt to create international standards. In addition, there are specifics for non-profits and government entities (government accounting is very backwards compared to private business accounting).
I doubt there is a volunteer group with enough programming and accounting skills to write OSS accounting and tax software. I have dabbled in programming and tax is definitely not my strong suit. Remember too that for the big companies, they use systems like Oracle Financials, SAP, etc. Many of these run on Linux or in some sort of *NIX environment. Tons of companies also still keep their General Ledger (G/L) on internally developed mainframe or AS/400 style systems. As other posters have said, there is a lot of money to be made writing a good system and selling it. The flip-side to that coin is that the end-user customer/business has a lot to lose (money, non-compliance with regulations, other reporting requirements, etc.) from having something half-way put together or something that is entirely wrong.
FTA - "'Basically, it looks like the Earth released a gigantic fart of green house gases into the atmosphere - and globally the Earth warmed by about 5C (9F).'"
:-)
I didn't know that fart was a scientific term. I'll have to include it in my next science assignment.
It's a half-baked Star Trek explanation because they haven't invented a new particle and reversed that particle's field polarity.
As Scotty said, "I canna break the laws of physics!" I'll believe this when I see an actual FTL ship.
The detective control would be to look at large numbers of returns right after the beginning of a new fiscal year. For example, company ABC conducts channel stuffing with company XYZ and ships on December 30. The ABC journal entries are:
DR: Accounts Receivable
CR: Revenue
DR: Cost of Goods Sold:
CR: Inventory
On January 15th, XYZ returns almost all of the sale, which let's say was pretty large. Detective controls should be in place to say that when large orders are returned, especially at the beginning of a new fiscal year, someone should look at when the order was shipped and why the items were returned.
I think you are correct that it can sometimes be difficult
Actually, auditing is NOT fraud detection. The following wording is taken from a standard audit opinion letter:
o pinionaudit.html
g _standards.htm
http://www.dsbcpas.com/services/accounting/audit/
Notice that fraud is NOT included in the opinion. The idea of fraud is to go undetected, and you cannot audit for collusion. Therefore, unless the environment suggests fraud is taking place, fraud is discovered by the company or auditor in the normal course of operations or the audit, or if the company reports to the auditor that fraud is taking place, it is extremely difficult to audit for fraud, if not impossible.
The following link is to the auditing standards by the AICPA
http://www.aicpa.org/members/div/auditstd/auditin
See:
SAS 1 - Responsibilities and Functions of the Independent Auditor
SAS 99 - Consideration of Fraud in a Financial Statement Audit
Off-Balance Sheet Entities:e tfinancing/
0 2.asp
2 004.asp
http://executivecaliber.ws/sys-tmpl/offbalanceshe
http://www.investopedia.com/articles/analyst/0220
http://www.investopedia.com/articles/stocks/04/10
The people doing the books in the accounting departments should have a fundamental knowledge of auditing. This includes the Controller and CFO, who are ultimately responsible for the financial statements. If they, or an internal audit department, see this activity taking place, then they should take actions to correct the financial statements before issuing them to the SEC and the public.
What it all boils down to is that either detective controls were not in place to detect channel stuffing, or the detective controls were just ignored.
Mark to market isn't what Enron did. Enron did what is called off-balance sheet financing, which is where companies are created and used to hold lots of liability to keep it off of the main company's books. This is perfectly legal, except you were supposed to have a 2% ownership in the new company. Enron didn't even have close to 2%, and the Andersen auditors didn't report it.
There is a class called that. It's call Introduction to Auditing, which all accounting students take. What's bad is that the auditors for McAfee missed this.
Some of my fondest memories of growing up were playing video games with my dad on our Commodore 64. I remember one game, Falcon Patrol, where you fly a blue Harrier and shoot down red enemy jets (probably Soviets). I could always fly and shoot the bad guys, but I never could land the plane. I would always wait until I was almost out of fuel and ammo and then try to quickly hand the joystick off to my dad for him to land it for me.
Another game he and I used to play was Threshold, and he actually got so good playing it with me that he crashed the game because he got so many extra lives.
It was because of playing video games with my dad that he taught me how to do the basics of loading programs and games on a Commodore 64. While, that doesn't seem like a big deal, but at 4 years old, I thought it was pretty cool that I could list the files on a disk, find the game I wanted, and load it all by myself.
From a near by trailer park...
It sounds like a freight train!
The title that the submitter gave the article says that they lack AN X chromosome! At first I thought these guys just had a Y chromosome. I'm glad he cleared it up with the extra statement, though, now I wonder...XXY? :-)
Gives new meaning to "compressing" a file.
Oh crap, I just compressed it out of this space-time continuum.
Just remember that Yoper uses static linking of libraries to speed things up. If that's what you like, then more power to you.
One reason I stick with Slackware is, as the article said, Pat V. doesn't modify and patch the hell out of stuff. It just works the way it was meant to. While I may not have a slick OS X type control panel for KDE, I do have how KDE is supposed to work. Now, I've never tried Yoper, but I do know from using Mandrake, RH, etc. that a lot of those "patches" caused me problems.
I think you are being a little harsh here. First, I read the article you linked to, and I think he has some valid complaints. One of my complaints is why do you have to specify --enable-gui (gui is disabled by default) for a program that offers custom skins and fonts. It's not hard to specify --enable-gui, but it still doesn't make sense.
Second, mplayer has gotten much better to configure. However, it still can be difficult. I first tried it out on Slackware, which is what I still use. I love mplayer and all of the Windows codecs so I'm not tied to Windows just to watch movies. However, making sure you have all of the dependencies is a pain. I finally just started making my own Slackware build scripts and packages for mplayer and the dependencies so I didn't have to remember which configure options I need for my own setup.
Now I don't know about the parent comment's author's situation, but I have found that most people who say, "Oh MPlayer is easy to install. Why don't you understand Linux," have installed it from a pre-made package (e.g. RPM). Many of them (not all) have never tried to actually compile it.
"That's just my opinion, I could be wrong." --Dennis Miller
I think the parent commentor is on the right track here. Windows Media Player and Real Player CANNOT natively decode DVDs. They require a licensed decoder in the background. WMP and RP just are different looks to the same decoder.
For example, you can install WinDVD and have WMP or RP use the WinDVD decoding to play back DVDs. I'm not sure why anyone would want to do this, but that's just me. Remember, you USUALLY have to pay for a decoder, so the software maker can pay the monolithic MPAA for the CSS keys.
As for Linux programs, see the other comments about MPlayer, VLC, Xine, etc.
I'm sorry, but I wish people would stop asking this question. This question has been asked for the past few updates.
Updates like you are looking for are not available for the 1.0.x branch. Patches will be available for the 1.5.x branch. For now, you have to download the entire browser and upgrade that way.