- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Disney Whistleblower Claims Parks Revenue Was Overstated By Billions
Posted on 8/20/19 at 7:45 am to Boatshoes
Posted on 8/20/19 at 7:45 am to Boatshoes
quote:
"A former financial analyst at the Walt Disney Co. is claiming the company regularly overstating its amusement parks revenue by billions of dollars, according to a new report.
Marketwatch reports that Sandra Kuba, who was a senior financial analyst in Disney’s revenue-operations department, alleges that employees working in the parks-and-resorts business segment systematically overstated revenue by billions of dollars by exploiting weaknesses in the company’s accounting software."
Hopefully they overstated liabilities in the same proportion as to not overpay on taxes. Otherwise really really dumb move but makes governments happy.
0
Posted on 8/20/19 at 8:18 am to Strannix
It is true
All you have to know is that Disney pays for good reviews, and for empty seats in theaters in order to prop up the bottom line
You don't really think they sold a billion dollars worth of tickets in the US on a single comic book movie, do you? That's over 150M tickets! There are only 300 million people in the US, including infants and nursing home peeps. Disney creatively accounted for those numbers
All you have to know is that Disney pays for good reviews, and for empty seats in theaters in order to prop up the bottom line
You don't really think they sold a billion dollars worth of tickets in the US on a single comic book movie, do you? That's over 150M tickets! There are only 300 million people in the US, including infants and nursing home peeps. Disney creatively accounted for those numbers
Posted on 8/20/19 at 8:21 am to igoringa
quote:
Consulting work also is a pretty 2003 Sox world. A little tax or due diligence maybe but the good ole days of enronesque consulting projects are gone.
This is true, auditing standards changed after Enron/AA
Posted on 8/20/19 at 8:25 am to Pussykat
quote:
This is true, auditing standards changed after Enron/AA
But just because the audit firm can't do consulting means little when the major accounting firms are a oligopoly. Do you really think PriceWaterhouseCoopers is going to take a position against KPMG, E&Y, or Deloitte?
Posted on 8/20/19 at 8:27 am to Quidam65
quote:
Do you really think PriceWaterhouseCoopers is going to take a position against KPMG, E&Y, or Deloitte?
Yes I do.
Posted on 8/20/19 at 8:40 am to NC_Tigah
It seems like it might have legs, based on the stage of the SEC investigation.
Seems pretty easy if they on fact had an accounting loophole allowing them to recognize revenue twice, or code revenue for tax savings. I'm wondering if the state and city will press for the audit and potential recovered revenue and subsequent fines, or if they are complicit with a wink and a nod to the corruption and don't want to upset their mouse-eared overlord?
Seems pretty easy if they on fact had an accounting loophole allowing them to recognize revenue twice, or code revenue for tax savings. I'm wondering if the state and city will press for the audit and potential recovered revenue and subsequent fines, or if they are complicit with a wink and a nod to the corruption and don't want to upset their mouse-eared overlord?
Posted on 8/20/19 at 9:12 am to SirWinston
quote:
This is nonsense - simply a part of the MSM effort to kneecap the Trump economy
By kneecapping a SJW favorite - The Disney Co?
Posted on 8/20/19 at 9:14 am to RobbBobb
quote:
You don't really think they sold a billion dollars worth of tickets in the US on a single comic book movie, do you? That's over 150M tickets!
What the hell theater are you going to where tickets cost only $6.67 per person? Also, the billion is a world-wide number, not just US tickets.
Posted on 8/20/19 at 9:16 am to Boatshoes
Price of park tix bout to go up
Posted on 8/20/19 at 9:20 am to igoringa
quote:
igoringa
You notice how all these claims are based on inflation of revenue, and not net revenue / profit?
For example, the gift card revenue being recorded at face value instead of sales price. Sure, that increases revenue. But in order for the math to work, you have to also create an expense or allowance account. So, the net effect on the financials is zero.
But the stock market these days seems to care more about gross revenues than net revenues. So that's why the incentive is there. However, that also means that it's not likely that they overpaid their taxes if this fraud did occur.
quote:
The talk of 8 billion in 2009 is preposterous. The whole theme park segment only had about 9.6 billion in revenue that year. You think 80 percent of that was fake and no one came? This is a lunatic claim.
Remember 2009 was a devastating year for tourism due to the economic conditions at the time. I think 80 percent that is claimed is stupid nuts, but if you told me they fudged 20 -30 percent, I'd be willing to consider that possible. I'd have to look at the couple of years before and after to see the trend. If 2009 was above 2007 for example, that would be an immediate red flag.
Posted on 8/20/19 at 9:40 am to Boatshoes
These are not the frauds you are looking for
Page 2 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News