GAAP Chats
GAAP Chats is the brand new podcast by the dynamic duo, Mike and Chris, from GAAP Dynamics. Like all of our accounting training, GAAP Chats is designed to make learning fun and engaging, and to ultimately "change the way you train." We'll dive into the latest CPA hot topics, news, standard updates, and more! New episodes are available throughout the month. Be sure to subscribe so that you never miss an upload!
GAAP Chats
CPA Hot Topics - Going, Going, Gone! Exploring Going Concern Opinions and Bankruptcies
A recent headline in Reuters noted “U.S. corporate bankruptcies at highest level since 2010.” In Episode 19 we’ll dive into the data, but, more importantly, we’ll test our hypothesis that, in our opinion, management (and their auditors) do a pretty crappy job of prognosticating future bankruptcies with going concern disclosures and opinions.
Resources:
2018 Blog on Going Concern
SEC - Bankruptcy: What happens when public companies go bankrupt?
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