b****a
发帖数: 41 | 1 It's not a small issue.
I actually read the "Accounting Issues" part of the report. (Recommended! It
was an easy and educational reading)
1. New Century made an accounting change in Q2 2006 to eliminate LOCOM
adjustment on loans they repurchased and put in inventory. This is a clear
violation of GAAP. KPMG knew this issue and still let the company issued
their 10Q; New Century then subsequently stopped reserving for future LOCOM
adjustments starting Q3. And again, KPMG let them issued Q3 report |
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f*******u
发帖数: 3102 | 2 可是online填的时候substract里面有个refunds of state and locome income taxes,
这一项不是填的这个返税么？ |
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p*****o
发帖数: 288 | 3 给个report的链接吧，好好学习一下。
It
LOCOM |
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l***n
发帖数: 812 | 4 regarding to the 10-q report in FY2006, I don't think 10-q has to be audited
. sothe charge shouldn't be on a solid ground.
It
LOCOM |
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m********n
发帖数: 15 | 5 Today I will briefly cover a very exciting topic, valuation of loans and
securities. As you may already understand, under FAS 115 securities can be
classified under held-to-maturity ("HTM"), available-for-sale ("AFS"), or
trading. Synonymously, mortgage loans can be classified as loans held for
investment ("LHFI") or loans held for sale ("LHFS") under FAS 65. In general
, there are two accounting models for valuation: 1) amortized cost with
LOCOM; 2) fair value.
Assuming fair value option is not |
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