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Related to Writeoffs: write-down, Written off
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Operating loss for the second quarter of 2001, excluding writeoffs as detailed in the Company's 2001 financial reports, was $(2,692,000), while reported operating loss for the second quarter of 2001 was $(4,063,000).
Preparers, auditors and users of financial statements--including company audit committees--should use the following checklist to make sure that any writeoffs of in-process R&D are reasonable and can withstand scrutiny by the SEC.
Operating loss for the first quarter of 2001, excluding writeoffs as detailed in the Company's first quarter 2001 reports, was $(2,829,000), while reported operating loss for the first quarter of 2001 was $(4,295,000).
From 1989 to 1993, IPC took $680 million in after-tax writeoffs associated with Clinton disallowances.
The real fraud was the new management's writeoffs and restatement that were designed to position the company for sale, largely to the benefit of new management.
Global Banking News-8 April 2008-Hapoalim makes additional writeoffs in fourth quarter(C)2008 ENPublishing - http://www.
For example, in the case study, the partner subsequently determined that misrepresentations by the branch manager about liberalizing credit policies, along with the writeoffs, constituted evidence that a fraud may exist.
Concerns include continued dependence on rate relief and leveraged balance sheets for both CMS Energy and Consumers Power due to writeoffs associated with less than full recovery of MCV power purchase costs and Consumers' dependence on reasonable rate relief in the future.
However, the writeoffs reduced profit from US$568K in 1998 to, as anticipated, a US$3.
External auditors and industry CPAs must carefully review management's assumptions for reasonableness to ensure that writeoffs are made when appropriate but not unnecessarily.
AGP and Company did not meet the minimum capital surplus of $1 million required by the NASD as of March 31, 1994, as a result of writeoffs associated with the company's decision to discontinue its Dynasound operation.
While this years's first quarter included startup and restructuring costs of $2,154,000, last year's first quarter included severance payments of $2,401,000 and goodwill writeoffs of $3,749,000.