
In 2019, the IASB issued an Exposure Draft: General Presentation and Disclosures in which the board laid out its proposals for a reorganisation particularly of the profit & loss statement…
Vorwort: Dieser Text ist eine bewusst abstrakt gehaltene, vereinfachte Darstellung der jüngsten Nachrichten und Pressemitteilungen. Er deckt sich in wesentlichen Punkten nicht notwendigerweise mit…
The Wirecard case provides a lot of lessons for analysts and investors. However, one aspect has not been discussed a lot so far. The question: Did all this happen despite our well-functioning…
This problem can really bring a dishonest manager’s decision making process to a breaking point: Overstating revenues (and hence earnings) is one thing, but if you want to draw a complete and…
During the last days we got a lot of questions about what EY could have seen and what is beyond the detection horizon of regular auditors. This is why we want to shed some more light on Wirecard’s…
There is an old saying in financial statement analysis: A good balance sheet is mostly even better, and a bad balance sheet is mostly even worse in reality. The reason for this observation is that…
Thursday, 18 June 2020, marked the preliminary peak of the story of Wirecard, the German DAX-listed payment processing company. That day, auditing company Ernst & Young refused to sign-off the…
It is not a big secret that fixed costs are the real ugly thing for companies in crisis. While leading to rather good effects in times of growing revenues it turns to the bad once revenues decline:…
Continental AG (Conti) did not show any goodwill impairments in Q1/2020 (only some minor asset impairmets). However, in contrast to this, the big German automobile supplier popped-up top of our…
Times of crisis always bring out two distinct kinds of bad accounting behavior (along with a lot of good accounting behavior, of course) – one of them is obvious, the other one rather not so. The…
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